Binance receives VASP license from Dubai’s VARA

Binance receives VASP license from Dubai’s VARA

Binance, the Dubai entity of the world’s leading global virtual assets services provider, has received the Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This license, subsequent to the previous issuance of the Minimum Viable Product (MVP) License in July 2023, marks a significant milestone for Binance. “As we secure […]Binance, the Dubai entity of the world’s leading global virtual assets services provider, has received the Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA).

This license, subsequent to the previous issuance of the Minimum Viable Product (MVP) License in July 2023, marks a significant milestone for Binance.

Richard TengCEO – Binance

“As we secure the esteemed full-market VASP License, it notably amplifies our unwavering commitment to advancing the financial landscape through compliance and innovation. This achievement embodies our dedication to transparency, regulatory compliance, and responsible growth in the dynamic digital assets domain. Furthermore, it bears testimony to the innovative spirit of the UAE, as it continues to embrace the transformative economic implications of blockchain technology for its residents.”

The transition from an MVP License to a VASP License allows Binance FZE to extend its product offering and expand its services to the retail market,