Binance Receives Full Virtual Asset Service Provider Licence in Dubai

Binance Receives Full Virtual Asset Service Provider Licence in Dubai

Binance FZE, the Dubai entity of Binance, today announced that it has received the Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA). This licence, subsequent

The post Binance Receives Full Virtual Asset Service Provider Licence in Dubai appeared first on Fintechnews Middle East.Binance FZE, the Dubai entity of Binance, today announced that it has received the Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA).

This licence, subsequent to the previous issuance of the Minimum Viable Product (MVP) Licence.

Richard Teng

Binance CEO Richard Teng stated,

“As we secure the esteemed full market VASP Licence, 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 Licence to a VASP Licence allows Binance FZE to extend its product offering and expand its services to the retail market, in addition to qualified and institutional investors. Binance FZE can now offer individual customers a broad portfolio