Binance Discusses With UAE Regulators To Pilot Headquarters in the Country

Binance exchange has discussed with United Arab Emirates (UAE) regulators on their plans to open headquarters in the Gulf Arab nation.

Specifically, Binance held a discussion with economic officials from Abu Dhabi Global Market, Dubai International Financial Centre, and Dubai Multi Commodities Centre. 

Alongside this, Binance tagged Dubai Financial Services Authority’s Senior official Mark McGinness on a plan for its headquarters. They did this with a mindset to gain approval to kickstart the headquarters in the country.

Looking at its monumental effort these days, Binance wants to establish itself as matured and regulated financial institution. In essence, appearing as a matured crypto exchange can help it drive immense innovations and trust for mainstream adoption compared to what it has today.

Additionally, Binance plan to establish headquarters around the UAE confirms CEO Changpeng Zhao’s (CZ) statement that said,

Binance is stepping up on licensing and compliance procedures and plans to establish multiple headquarters.

On this note, Abu Dhabi Global Market officials commented that the country has a strong love when it comes to new opportunities and innovations. With this, they have rolled out a virtual asset framework to attract and embrace financial technology companies.

According to Abu Dhabi Global Market (ADGM),

All local and global entities seeking to access opportunities in the region and its “comprehensive” virtual asset regulatory framework is built for exchanges, custodians, intermediaries, and related services. It already has a number of digital assets entities and the ecosystem is growing rapidly.

Since the post is hearsay, we will keep our eyes open and update you if UAE agrees to Binance’s headquarters plan in the country.