Binance Secures Financial Services Permission from Abu Dhabi Regulator

Binance, the world's leading blockchain ecosystem behind the largest cryptocurrency exchange by trading volume, has secured Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). The permission will enable Binance to provide custody service to professional clients.

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Recently, the crypto exchange has been seeking permission to operate in more regions. Last month, Binance has successively got crypto license in Kazakhstan​ and Cyprus, following its regulatory registration in New Zealand​ in September.

Ahmed Jasim Al Zaabi, chairman of ADGM, said: "We congratulate Binance for obtaining a permit to provide financial services, and enabling it to offer its products and services in the Middle East and North Africa region. We look forward to supporting its operations and R&D in the Abu Dhabi Global Market to develop solutions for the Web3.0 economy."

Dominic Longman, senior executive officer at Binance Abu Dhabi, said: "Obtaining this licence is an important step in the growth of Binance in Abu Dhabi, and a reflection of Abu Dhabi's progressive stance on virtual assets."