Highlights

  • Following the previous issuance of an MVP license in July 2023, Binance FZE has received a VASP license from the regulatory authorities in Dubai. This achievement marks an important milestone for Binance's mission to foster the future of digital assets.

  • With the VASP license, Binance can bring its product offering in the UAE not only to qualified and institutional investors, but also to the retail market. This includes access to a wider variety of digital asset services, such as spot trading, lending and staking.

  • Qualified users will gain access to margin and derivatives products, such as futures and options trading. The acquisition of the VASP license highlights Binance's commitment to innovation in the global financial landscape, while ensuring transparency, regulatory compliance, and open access to the benefits of blockchain technology.

We are proud to announce that Binance FZE, our Dubai subsidiary, has received a Virtual Asset Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA) in Dubai. Following the initial issuance of the Minimum Viable Product (MVP) license in July 2023, this marks an important milestone for Binance and the global virtual asset landscape.

The transition from an MVP to a VASP license allows Binance FZE to bring its product offering to the retail market as well as qualified and institutional investors. Individual clients can now access a wide range of digital asset products and services, including but not limited to spot trading, margin trading and staking. This is the largest variety of regulated virtual asset services available, not only in the UAE, but also worldwide.

We illuminate new possibilities

By commencing operations with the new VASP license, Binance FZE will significantly increase its current offerings beyond spot trading and fiat services. Instead of simply expanding the selection of tokens, users can expect a greater variety of exchange services. This far-reaching global license paves the way for all UAE clients to use a regulated platform for a full spectrum of virtual asset products and services.

Binance FZE General Manager Alex Chehade said: "This is an important milestone that validates our commitment to providing secure, compliant and world-class services to our users around the world. It highlights Dubai's position as a "a city that thinks ahead, recognizes and embraces the financial potential that blockchain technology brings."

Diversified offers

For users looking for passive income opportunities, Binance FZE will offer customized services for this specific purpose, such as Simple Earn. By improving the scope of investment strategies available, it will also introduce new options through its lending services, including virtual asset loans. Additionally, management and investment services will allow users to take advantage of features such as ETH Staking, BNB Vault, and Launchpool to expand the earning potential of their digital assets.

Emphasizing various trading services, the license will allow qualified and institutional investors to participate in margin and derivatives services, such as futures and options. Currently, these offers are limited to those who meet the investor criteria.

As Richard Teng, CEO of Binance, comments: "Acquiring the distinctive VASP license not only emphasizes our strong commitment to revolutionizing the future of finance, but conclusively demonstrates it. For us, achieving this This milestone represents a strong affirmation of our continued momentum for transparency, regulatory compliance, and responsible growth in the ever-expanding digital asset space. We look forward to expanding access to the transformative economic benefits of blockchain technology to our users. in the United Arab Emirates".

Committed to growth

The acquisition of the VASP license for Binance FZE is more than just a noteworthy achievement; is a testament to our unwavering pursuit of financial innovation, regulatory compliance and global reach. Backed by this prestigious license, we are set to transform the digital asset landscape in Dubai and beyond, providing access to a wide and diversified range of virtual asset products and services.

With a strong commitment to increasing our reach while ensuring user security and regulatory compliance, we are pleased to offer new possibilities to both individual and institutional investors. This bold step forward reinforces our promise to create a secure, regulated space that builds on the immense potential of blockchain technology. As we move forward, we do so with a vision of a more inclusive, transparent and robust financial future for all.

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