Binance obtains a permit to provide financial services from the Financial Services Regulatory Authority of the Abu Dhabi Global Market
Binance, a leading global provider of blockchain services, today announced that it has received an authorization to provide financial services from the Financial Services Regulatory Authority of the Abu Dhabi Global Market, the international financial hub of the UAE capital.
This step comes in line with Binance's efforts to expand its presence in the Middle East.
This permit will enable it to provide safe custody services to clients who meet the conditions stipulated in the permit, according to the terms and conditions of the Financial Services Regulatory Authority in the Abu Dhabi Global Market.
The Financial Services Regulatory Authority in the Abu Dhabi Global Market had introduced the first comprehensive regulatory framework of its kind dedicated to virtual assets in the world in 2018 to set regulatory rules for companies operating in this field.
With the aim of promoting and supporting the transformation of economic growth in Abu Dhabi, ADGM has consolidated its position as a leading global hub and business platform for virtual asset activities.
His Excellency Ahmed Jassim Al Zaabi, Chairman of the Abu Dhabi Global Market, said: “We are pleased today to congratulate Binance for obtaining a permit to provide financial services, and enabling them to offer its products and services in the Middle East and North Africa region, in accordance with our regulatory framework for virtual assets, which is Pillar of the Abu Dhabi Global Market strategy aimed at establishing an active and reliable business environment for virtual assets and at the same time capable of paving the way towards sustainable innovation within the financial sector and consolidating the UAE's position as a global market that is growing at an accelerated pace in the field of digital assets.As the engine driving this growth, we We look forward to supporting Binance's activity and continuing the research and development efforts in Abu Dhabi Global Market to develop solutions for the third generation Internet economy."
Richard Teng, Regional Head of the Middle East and North Africa at Binance, said: “At Binance, we are committed to working closely with regulators and forward-thinking cities to develop clear and beneficial regulatory frameworks capable of protecting market activities and customer safety. The Financial Services Regulatory Authority and the Abu Dhabi Global Market in constructive cooperation, which confirms the importance of the value of cooperation between our sector and its regulators. We look forward to following the growth and prosperity of Abu Dhabi as a leading global center for virtual assets activities, and we commend the Abu Dhabi Global Market for its fruitful efforts in developing a comprehensive system for blockchain services."
Dominic Longman, CEO of Binance Abu Dhabi, said: “Obtaining this permit is an important step in strengthening Binance’s presence in Abu Dhabi, and reflects the future vision of virtual assets that characterize Abu Dhabi. We are excited to continue strengthening our relationship with the Abu Dhabi market.” We look forward to providing investment entities with a safe and reliable platform to conduct their virtual asset activities. This is just the beginning for us at Binance Abu Dhabi, and we hope that our team will grow in tandem with the growth of the blockchain scene in Abu Dhabi."
Binance, a leading global provider of blockchain services, today announced that it has received an authorization to provide financial services from the Financial Services Regulatory Authority of the Abu Dhabi Global Market, the international financial hub of the UAE capital.
This step comes in line with Binance's efforts to expand its presence in the Middle East.
This permit will enable it to provide safe custody services to clients who meet the conditions stipulated in the permit, according to the terms and conditions of the Financial Services Regulatory Authority in the Abu Dhabi Global Market.
The Financial Services Regulatory Authority in the Abu Dhabi Global Market had introduced the first comprehensive regulatory framework of its kind dedicated to virtual assets in the world in 2018 to set regulatory rules for companies operating in this field.
With the aim of promoting and supporting the transformation of economic growth in Abu Dhabi, ADGM has consolidated its position as a leading global hub and business platform for virtual asset activities.
His Excellency Ahmed Jassim Al Zaabi, Chairman of the Abu Dhabi Global Market, said: “We are pleased today to congratulate Binance for obtaining a permit to provide financial services, and enabling them to offer its products and services in the Middle East and North Africa region, in accordance with our regulatory framework for virtual assets, which is Pillar of the Abu Dhabi Global Market strategy aimed at establishing an active and reliable business environment for virtual assets and at the same time capable of paving the way towards sustainable innovation within the financial sector and consolidating the UAE's position as a global market that is growing at an accelerated pace in the field of digital assets.As the engine driving this growth, we We look forward to supporting Binance's activity and continuing the research and development efforts in Abu Dhabi Global Market to develop solutions for the third generation Internet economy."
Richard Teng, Regional Head of the Middle East and North Africa at Binance, said: “At Binance, we are committed to working closely with regulators and forward-thinking cities to develop clear and beneficial regulatory frameworks capable of protecting market activities and customer safety. The Financial Services Regulatory Authority and the Abu Dhabi Global Market in constructive cooperation, which confirms the importance of the value of cooperation between our sector and its regulators. We look forward to following the growth and prosperity of Abu Dhabi as a leading global center for virtual assets activities, and we commend the Abu Dhabi Global Market for its fruitful efforts in developing a comprehensive system for blockchain services."
Dominic Longman, CEO of Binance Abu Dhabi, said: “Obtaining this permit is an important step in strengthening Binance’s presence in Abu Dhabi, and reflects the future vision of virtual assets that characterize Abu Dhabi. We are excited to continue strengthening our relationship with the Abu Dhabi market.” We look forward to providing investment entities with a safe and reliable platform to conduct their virtual asset activities. This is just the beginning for us at Binance Abu Dhabi, and we hope that our team will grow in tandem with the growth of the blockchain scene in Abu Dhabi."
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