Binance Signs MoU with Dubai World Trade Centre Authority

Fazzaco learned that Binance, one of largest crypto exchanges in the world, has signed a Memorandum of Understanding (MoU) with the Dubai World Trade Centre Authority (DWTCA) to outline the vision of accelerating the set-up of a new industry hub for Global Virtual Assets.

With the MoU, Binance will help advance Dubai’s commitment to establishing a new international Virtual Asset ecosystem that will generate long-term economic growth through digital innovation.

“Binance believes that Dubai’s new agenda will contribute to the growth of the global economy. In order to support this, Binance will participate in this knowledge-sharing ecosystem by sharing its experience in collaborating with global regulators to aid the development of progressive Virtual Asset regulations,”the crypto exchange stated.

“The goal is to assist crypto exchanges, businesses that offer blockchain and Distributed Ledger Technology (DLT) services, and a wide range of digital currencies and assets to become licensed in Dubai,”Binance added.

Earlier this month, Binance said that it was in talks with two of Indonesia’s largest companies, PT Bank Central Asia and PT Telkom, to set up a cryptocurrency exchange in the Southeast Asian country.

Last week, Binance has established a joint venture​ with a consortium led by MDI Ventures (MDI), as part of Binance's broader strategy to grow the global blockchain ecosystem.