Important notes

  • Following the earlier issuance of the MVP license in July 2023, Binance FZE received the VASP license from the regulatory authorities in Dubai. This achievement marks a significant milestone in Binance's mission to shape the future of digital assets.

  • Thanks to the VASP license, Binance will be able to offer its product range in the UAE not only to qualified and institutional investors, but also to individual users. This includes access to a wider range of digital asset services such as spot trading, lending and staking.

  • Thus, qualified users will be able to access margin and futures products such as futures and options trading. Obtaining the VASP license underscores Binance's commitment to innovation in the global financial environment, while also providing transparency, regulatory compliance and open access to the possibilities offered by blockchain technology.

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

The transition from MVP to VASP license allows Binance FZE to offer its product range to individual users as well as qualified and institutional investors. Individual users now have access to a variety of digital asset products and services, including spot trading, margin trading and staking. This is the widest selection of regulated digital asset services available not only in the UAE but also globally.

New Possibilities

Binance FZE, which has started operations under the new VASP license, will significantly expand its existing range of services beyond spot trading and fiat services. In addition to expanding token options, users will also have access to a variety of exchange services. This landmark global license paves the way for all clients in the UAE to use a regulated platform that includes a rich variety of digital asset products and services.

As Alex Chehade, General Manager of Binance FZE, said, “This is a significant milestone as we deliver on our commitment to provide secure, regulatory-compliant and premium services to our users around the world. Dubai is a forward-thinking country that recognizes and embraces the financial potential offered by blockchain technology.” “It underlines that it is a city.”

Various Products and Services

For users looking for passive income opportunities, Binance FZE will offer services specific to this purpose, such as Easy Earnings. Expanding the scope of its existing investment strategies, the company will also offer new options through lending and borrowing services, including digital asset loans. In addition, management and investment services will also allow users to take advantage of features such as ETH staking, BNB Vault, and Launchpool to increase the earning potential of their digital assets.

This license, which covers various trading services, will allow qualified and institutional investors to benefit from margin and futures services, including futures and options. Currently, these products and services are limited to only those that meet investor criteria.

As Binance CEO Richard Teng said, "Obtaining the elite VASP license not only underscores but conclusively proves our commitment to revolutionizing the future of finance. Reaching this milestone will ensure transparency, regulatory compliance and responsible growth in the ever-expanding digital asset space." "It is exciting to offer our users in the UAE greater access to the groundbreaking economic benefits of blockchain technology."

We are determined to grow

Obtaining the VASP license for Binance FZE is more than a remarkable achievement; It is a testament to our constant pursuit of financial innovation, regulatory compliance and global reach. With this prestigious license, we are poised to disrupt the digital asset landscape in Dubai and beyond, providing access to a wide, diversified range of digital asset products and services.

With our commitment to increasing our reach while ensuring user security and compliance with regulations, we are pleased to offer new opportunities to both individual and institutional investors. This bold move reinforces our promise to create a secure, regulated world built on the immense potential of blockchain technology. As we continue on this path, we do so with the vision of a more inclusive, transparent and strong financial future for everyone.

Additional Reading

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