Binance Drive Crypto Innovation in UAE

 Binance, the world’s largest cryptocurrency exchange, hopes to continue to drive innovation in the sector now that it has obtained two licences to operate in the UAE, a top executive at company has said.

Nadeem Ladki, executive director of strategic partnerships and business development at Binance, was speaking on the last day of the Future Innovation Summit in Dubai, where he outlined long-term plans the company has for the Middle East.

Binance has recently been deepening its ties in the Middle East and Europe, after receiving in-principle approval from the Abu Dhabi Global Market to operate as a broker-dealer in virtual assets in the capital in April.

Founded in China in 2017, the company also secured a virtual asset license to operate in Dubai and regulatory approval from the Central Bank of Bahrain in March to operate as a crypto-asset service provider in the kingdom.

“What I have come to see in terms of finance after entering the region is quite exciting,” said Mr Ladki.

“We are now the most licensed and regulated exchange across the region, holding two exchange licenses here in the UAE and one in Bahrain.

“And in our plan, really for the rest of the UAE and the region, is to continue to drive that innovation.

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Citation : TheNationalNews