Key takeaways

  • After obtaining its MVP license in July 2023, Binance FZE has now received its VASP license from Dubai regulatory authorities. This accomplishment marks an important milestone in Binance's mission: to drive the future of digital assets.

  • With its VASP license, Binance can expand its product offering in the UAE to serve not only qualified and institutional investors, but also the retail market. The company thus opens access to a wider range of digital asset services such as Spot trading, lending and borrowing as well as staking.

  • Qualified users will be able to opt for margin and derivative products such as options and futures trading. The acquisition of the VASP license reaffirms Binance's commitment to global financial innovation that ensures transparency, regulatory compliance and unconstrained access to the benefits of blockchain technology.

We are proud to announce that Binance FZE, our Dubai subsidiary, has received its Virtual Asset Service Provider (VASP) license issued by the Virtual Asset Regulatory Authority (VARA) in Dubai. After first obtaining the minimum viable product (MVP) license in July 2023, this is another important milestone for Binance and the global virtual asset industry.

The move from an MVP license to a VASP license allows Binance FZE to expand its product offering to the retail market, in addition to qualified and institutional investors. Retail clients can now benefit from a wide range of digital asset products and services, including Spot trading, margin trading and staking. All of this constitutes the largest range of regulated virtual asset services available in the UAE, but also worldwide.

Paving the way to new possibilities

Upon launching its activities with its new VASP license, Binance FZE will significantly expand its current offering beyond Spot trading and fiat currency services. More than just an expansion of the choice of tokens, users can expect a greater variety of services on the exchange platform. This historic global license allows all customers in the United Arab Emirates to use a regulated platform and benefit from a comprehensive offering of products and services related to virtual assets.

Alex Chehade, President of Binance FZE, said: “This is a major milestone that reaffirms our commitment to providing secure, compliant and best-in-class services to our users around the world. This also strengthens Dubai's position as a forward-thinking city that recognizes and embraces the financial potential of blockchain technology. »

Diversify the offer

Binance FZE will offer tailored services dedicated to creating passive income streams, such as Simple Earn, and will expand the scope of available investment strategies by also offering new possibilities through its lending and borrowing services , including virtual asset loans. Additionally, the management and investment services will allow users to leverage features such as ETH staking, BNB Vault and Launchpool to amplify the earning potential of their digital assets.

This license will emphasize the diversity of trading services and allow qualified and institutional investors to use margin and derivatives services, including Futures contracts and options. Only offers of this type meeting the criteria of the specific investor are currently available.

Richard Teng, CEO of Binance, says: “The acquisition of this prestigious VASP license irrefutably reminds and demonstrates our unwavering commitment to revolutionizing the future of finance. This is a major milestone that constitutes indisputable proof of our continued commitment to transparency, regulatory compliance and responsible growth in the ever-expanding universe of digital assets. The prospect of extending access to the transformative economic benefits of blockchain technology to our users in the UAE excites us. »

Commit to growth

The acquisition of the VASP license for Binance FZE is more than a remarkable achievement; it is a testament to our unwavering pursuit of financial innovation, compliance and global reach. This prestigious license will undoubtedly help us transform the digital assets sector in Dubai and beyond its borders, by opening access to a vast and diverse range of products and services related to virtual assets.

We remain firmly committed to expanding our reach while ensuring user security and regulatory compliance, and are excited to offer new opportunities to retail and institutional investors. This bold step forward reaffirms our promise to create a secure and regulated space, which leverages the immense potential of blockchain technology. We are moving forward with our vision of a more inclusive, transparent and reliable financial future for all.

Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down as well as up and you may not get back the amount you invested. You are solely responsible for your investment decisions and Binance is not responsible for any losses you may incur. Past performance is not a reliable indicator of future performance. Only invest in products that you are familiar with and understand the associated risks. Carefully evaluate your investment experience, financial situation, investment objectives and risk tolerance, and consult an independent financial advisor before investing. This document should not be considered financial advice. For more information, please refer to our Terms of Use and Risk Warning.