Binance Receives Regulatory Approval to Operate in New Zealand

Binance Receives Regulatory Approval to Operate in New Zealand

Binance continues to forge ahead as one of the leading crypto exchanges with yet another regulatory approval. 

Binance, the largest crypto exchange in terms of daily trading volumes, has received regulatory approval from New Zealand’s Ministry of Business, Innovation, and Employment.

According to the announcement shared on Binance’s blog, following the regulatory approval, crypto exchange is set to open its local offices in the country

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is an NFT? (Explained with Animations)

What is an NFT? (Explained with Animations) What is an NFT? (Explained with Animations)

New Zealand’s Ministry of Business, Innovation, and Employment allowed Binance to offer Kiwis a handful of financial services, including spot trading, staking, non-fungible tokens (NFTs), and more.

General Manager of Binance New Zealand Ben Rose shared his excitement by stating:

Having the world’s leading crypto business registered to operate in New Zealand not only means access to the lowest trading fees, it also means Kiwis can expect to have access to many exciting global product and service innovations happening in this space.

Based on the announcement, Binance will offer Kiwis “the world’s lowest trading fees and largest user bases” for them to trade and build their portfolios.

Binance founder and CEO Changpeng Zhao (CZ) shared his thoughts on regulatory approval and newly launched local offices by stating:

A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see significant value in having a serious New Zealand presence. The history of fintech innovation in New Zealand is very well known, with one of the earliest and most rapid uptakes of digital transactions in the world.

According to the CZ statement, the decision to open New Zealand offices was strategic, aiming to increase digital transactions. In 2022, Binance received regulatory approvals from Dubai, Spain, and France.

In other news, a Bahraini financial institution regulated by the Central Bank of Bahrain, Eazy Financial Services (EazyPay), has collaborated with Binance Pay to allow crypto payments in the country

Gile K. - Crypto Analyst

by Gile K. - Crypto Analyst, BitDegree


Loading...