#Binance , one of the largest cryptocurrency exchanges in the world, has become the first exchange to receive an Operational Minimum Viable Product (MVP) license from Dubai's Virtual Asset Regulatory Authority (VARA).

Binance Has Received Another License in #Dubai

This license allows Binance to offer regulated virtual asset services in Dubai while adhering to VARA's investor protection and market assurance standards.

With the Operational MVP license in hand, Binance's Dubai subsidiary Binance FZE will now be able to offer exchange and broker-dealer services in the region and initially serve institutional and qualified retail investors.

September March 2022 and September 2022, Binance received a provisional MVP license, further solidifying the exchange's commitment to operating within Dubai's regulatory framework for Virtual Asset Service Providers (VASPs).

By obtaining this license, Binance has established a strong presence in Dubai's fast-growing crypto market and reaffirmed its commitment to cooperation with local regulators.

The operational MVP license allows the exchange to operate two licensed activities: virtual asset exchange services and virtual asset broker-dealer services, both of which are limited to institutional and qualified retail investors in the city.

While the crypto world continues to develop, Binance continues to stay at the forefront by encouraging innovation and expanding its services in accordance with the relevant regulations of the countries in which it operates.

The acquisition of the Operational MVP license in Dubai further reinforces Binance's reputation as a global leader in the cryptocurrency space. #BTC #BNB