Binance CEO Changpeng Zhao has given cryptocurrency enthusiasts reason to celebrate after Abu Dhabi’s Minister of Economy and Foreign Trade, Dr. Binance’s Billionaire CEO Gives Crypto a Boost

The new crypto ecosystem

Binance, one of cryptocurrency’s largest exchanges and led by billionaire CEO Changpeng Zhao, has announced plans to open an office in Abu Dhabi. The company announced Wednesday that it will be formalizing its presence in crypto-friendly United Arab Emirates (UAE) emirate of Abu Dhabi, as part of a wider plan to expand globally, according to Arabian Business. It is very clear that blockchain companies will need licenses [in order] to operate.

Proves they have what it takes

The move means that Binance is on track to become regulated in yet another country, something that’s sure to make its top executives happy. The approval comes from one of crypto’s most powerful authorities: The Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRO). On Tuesday, it gave its blessing for Binance to launch an operations center in Abu Dhabi.

See also  AI Revolutionizes Protein Design - 5 Incredible Benefits

Nods from the regulator

Binance, one of crypto’s largest exchanges, has received regulatory approval from Abu Dhabi’s Financial Services Regulatory Authority (FSRA). Binance CEO Changpeng Zhao (CZ) spoke positively about his company’s upcoming UAE launch in an interview with Bloomberg. CZ described why he chose to begin operations in Abu Dhabi: We are big believers in regulation.

A strong presence in the UAE

Zhao Changpeng, who has an estimated net worth of $1.6 billion and has spoken to lawmakers in Washington and Hong Kong about crypto regulation, was welcomed by officials and given a tour at the Abu Dhabi Global Market (ADGM) on Friday. While there, he touted cryptocurrency as the future of money to reporters.

Their Exchange Traded Product (ETP) is rising too

Their ETP is on track to top $200 million in assets under management. That’s because Binance also runs an ETP called BNB, or Binance Coin, which currently has $200 million worth of assets under management. The exchange plans to launch several new cryptoassets on its platform and expand its office footprint in Hong Kong soon. These developments are bolstering investor sentiment about the firm’s long-term prospects for success.

Binances Billionaire CEO Gives Crypto a Boost
Binance’s Billionaire CEO Gives Crypto a Boost

 uae approved cryptocurrency

Abu Dhabi’s financial regulator has given Binance, one of Asia’s largest cryptocurrency exchanges, approval to open an office in the city-state and establish fiat-to-crypto trading pairs. The move comes after Binance CEO Changpeng Zhao (CZ) met with Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Chairman of Abu Dhabi Global Market (ADGM), to discuss a potential expansion into Abu Dhabi last week.

See also  How to Profit from the US Tech Stock Crash

 binance uae office

Binance founder and CEO Changpeng Zhao (CZ) on Wednesday opened an office in Abu Dhabi as he said his company is targeting a big chunk of its future business in Africa and Middle East. The world’s largest crypto exchange by trading volume wants to make Abu Dhabi its crypto hub, CZ told reporters at his first press conference held in Arabic. … Binance will also set up offices in Dubai, Saudi Arabia and Africa later, he added.

 binance uae careers

Binance, founded by Zhao Changpeng and based in Hong Kong, is one of the world’s largest cryptocurrency exchanges. It has expanded rapidly since its launch in 2017, growing from 200 employees to 1,200. The exchange supports over 140 coins and tokens, with BNB at its center. Among these assets are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC).

binance dubai office address

The cryptocurrency exchange Binance has announced that it is opening an office in Dubai, capital of United Arab Emirates (UAE), just days after it announced plans to launch its own decentralized exchange. The office will also serve as its Middle East headquarters, with Sheikh Hamed bin Zayed Al Nahyan (pictured) co-chairman of Abu Dhabi’s Mubadala Investment Company joining Binance as an advisor for blockchain development in collaboration with Smart Dubai.

See also  The World's Cutest Crypto - Shiba Inu Token

 is binance legal in uae

Binance, one of world’s biggest cryptocurrency exchanges with $1.8 billion in daily trading volume, has been deemed legal and issued a license by Abu Dhabi Global Market (ADGM), according to Business Insider Middle East. The news comes after reports earlier in July that Binance had been issued another warning from Japan’s Financial Services Agency (FSA) over its lack of license.

Which crypto exchange is best in UAE?

If you’re looking to buy cryptocurrencies in UAE, Binance is one of your best options. The Hong Kong-based exchange has recently been on an expansion spree, getting regulatory approval to operate in multiple new markets. Its billionaire founder has also made some big touts about its business prospects in UAE and other Gulf states.

Is ethereum legal in UAE?

According to local sources, Binance is currently seeking regulatory approval for its planned launch in Abu Dhabi. The exchange’s billionaire founder, Changpeng Zhao (CZ), has been touting ethereum’s crypto potential for months, and told Bloomberg earlier today that UAE is going to be one of [crypto’s] biggest markets.

Visit Our Home Page

By High Tech Team

We’re dedicated to providing you the best of Technology , with a focus on dependability and Tech , Share Market , Networking . We’re working to turn our passion for Technology into a booming https://dudehightech.com. We hope you enjoy our Technology as much as we enjoy offering them to you