Binance Opens Doors in New Zealand, Company Continues Global Expansion

Binance Opens Doors in New Zealand, Company Continues Global Expansion

Binance announced the acquiree of a mint Financial Service Provider in New Zealand, and is currently registered with the local Ministry of Business, Innovation and Employment. The newest development is that the crypto exchange just launched its brand new subsidiary in New Zealand.

Changpeng Zhao, the CEO of the world’s largest crypto exchange, commented that his firm is excited about the opportunities that the New Zealand market offers, adding that the nation is known for its innovations in fintech.

This is not Binance’s first Oceania destination. In Australia the firm has currently over 700 000 active users. Being locally regulated, the exchange also quite recently launched crypto CFDs services for whole sale investors.

Last week, Binance officially acquired a Minimal Viable Product (MVP) license in Dubai, issued by the Dubai’s Virtual Asset Regulatory Authority (VARA). In July, the Bank of Spain granted the company a Virtual Asset Services Provider (VASP), and earlier it was able to get an official green light from French regulators. There are talks of a pending German license.

Outside of Europe, the exchange has its eyes set on acquiring a VASP license in the Philippines, while in a recent report the firm revealed that it has began conversing with the Nigerian Export Processing Zones Authority to launch the first virtual free trade zone in Africa.

Binance is recovering from major setbacks after controversies sparked throughout international medias about its licensing breaches. Many licenses were revoked, and now the company is on track to get them back, while also, seemingly, improving its policies on the way.

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