🔗The Binance platform obtains a license to operate in Dubai🔗
The Emirates News Agency reported yesterday, Thursday, that the Binance platform (which is considered one of the largest digital currency platforms in the world) has succeeded in obtaining a license as a virtual asset services provider from the Virtual Assets Regulatory Authority in Dubai.
The UAE agency explained that this license comes after the initial issuance of the minimum viable products license that the Binance platform obtained last year, specifically last July.
Commenting on this step, the CEO of the Binance digital platform, Richard Teng, said that Binance’s obtaining a virtual asset services provider license reinforces its full commitment to developing the financial landscape through compliance and innovation, and confirms its commitment to the principles of transparency, regulatory compliance, and responsible growth in the field of virtual assets, and attests to the spirit of The prevailing innovation in the UAE, which continues its efforts to adopt the economic and transformative capabilities of blockchain technologies to benefit and support the growth of its residents.
The executive added that Binance's transition from a minimum viable product license to a virtual asset service provider license will allow the platform to expand its product and service offerings to include the retail market, in addition to qualified investors and institutions.