The world’s largest crypto exchange Binance has secured a registration license from New Zealand authorities and also set up a local entity in the country.
The latest development is in line with Binance’s continuous efforts to expand its services globally.
- Binance CEO Changpeng Zhao, also known as “CZ,” announced the news in a video posted on the company’s official Twitter handle on Thursday (September 29, 2022). According to the exec, the exchange obtained registration to operate as a financial services provider in New Zealand.
- In addition, the crypto giant launched a new local entity in the country called Binance New Zealand. The company chief said:
“New Zealand is an exciting market with a strong history of fintech innovation, and our team of Binancians in New Zealand is working hard to bring the freedom of crypto to Kiwis.”
- The latest development comes shortly after Binance revealed plans to reenter the Japanese market after four years, following the nation’s relaxed crypto regulatory framework.
- Binance, meanwhile, continues to work with different regulators to expand its presence globally. The crypto exchange recently obtained minimal viable product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). Earlier in the year, Binance secured a virtual asset license to service approved investors and professional financial service providers.
- The exchange giant also got in-principle approval from Kazakhstan regulators, and other regulatory approvals in France, Italy, and Spain