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Binance Looks to Make its Mark in Canada and Bahrain

Binance Looks to Make its Mark in Canada and Bahrain

Binance will be sealing the expansion deal with Canada and Bahrain after being given licenses by both sides.

With the New Year around the corner, Binance has set its sights on the Middle Eastern region, alongside a quite surprising revelation about its expansion into Canada.

As the popularity of cryptocurrencies and blockchain technologies is starting to grow across the globe, according to the CEO of Binance Changpeng Zhao, licensing deals are "essential to build trust in crypto and blockchain and help further improve mass adoption…"

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Binance, one of the largest crypto service providers, was given the seal of approval by The Central Bank of Bahrain to operate within the country, and acquired a financing license to set its roots in Canada.

While some expressed their concerns about Binance expanding into further domains, it aims to meet regulatory standards and make an appropriate entry into the Middle East. In fact, Binance’s partnership with the Dubai World Trade Centre Authority was a first step towards building, in their own words, "long-term economic growth through digital innovation.

In 2019, Bahrain became the first gulf region to approve a licensed crypto platform, and has been spearheading the digital asset sector ever since. Having a liaison like Binance in a country with a relatively small economy like Bahrain may turn out to be beneficial for both sides in the long run.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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