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Seeking Alpha 2022-09-20 19:17:00

Binance gets OK to offer more crypto services to retail, institutional investors in Dubai

Binance gets OK to offer more crypto services to retail, institutional investors in Dubai

Cryptocurrency exchange Binance has secured regulatory approval to offer a wider string of services to qualified Dubai-based retail and institutional investors, it said in a Tuesday blog post.The crypto mammoth received the Minimal Viable Product from the city's Virtual Asset Regulatory Authority after getting in-principle approval for the MVP license in March.In Dubai, Binance can now open a client money account with a domestic bank as well as provide operate a crypto exchange and offer services in payments, remittance and custody, the blog read.The move comes as Binance seeks to expand its global footprint specifically within the United Arab Emirates, a hub spot for the emerging space where a slew of crypto-related firms have pursued regulatory approval. Some of those firms include Blockchain.com, OKX and FTX.Previously, (Aug. 26) Binance to accelerate blockchain sector in Busan, South Korea.

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