Binance bolsters Middle East presence with Dubai licence

Crypto exchange Binance gained a licence to operate in Dubai as a virtual asset service provider, bolstering the United Arab Emirates drive to become a crypto hub.

The Virtual Asset License from Dubai’s Virtual Asset Regulatory Authority (VARA) will enable Binance, the world’s biggest crypto exchange by trading volume, to offer restricted exchange products and services to investors and professional financial service providers.

Binance will also anchor a blockchain technology hub at the Dubai World Trade Centre to nurture new talent and build a flourishing blockchain ecosystem, according to the company’s press release.

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