Binance, after obtaining a preparatory license in September 2022 and meeting the prerequisites, was awarded a license to operate in Dubai.
Binancefrom Dubai’s Virtual Assets Regulatory Authority ( VARA) to hold clients’ funds locally, operate the exchange, and provide payments and custody services with the Minimal Viable Product ( MVP ) was licensed. Binance, the leading name of crypto exchanges, said that eligible users in Dubai can now access authorized services.
The exchange expands its operations in Dubai
Announcing that it has obtained a license in Dubai, Binance has reached the third of four phases regarding its jurisdiction. Announcing that eligible users will be able to access authorized services, the exchange attracted the attention of many countries, not just Dubai. Binance, which has accelerated its work for fund management, exchange operation, payments and custody services, continues to publish announcements on these issues.
Dubai has a four-step licensing process and Binance will release the expected Full Market Product ( FMP ) passed three of these stages with its license. Also, the stock market’s move in Dubai came as it was scheduled to re-enter Japan and faced problems in Germany, Austria, Belgium and the Netherlands.
