France grants license to cryptocurrency exchange Binance

This licensing will be an important step for Binance to start crypto-related activities in France, including custody, exchange and operation of a crypto trading platform.

Binance has just been licensed to operate in France afp

Accordingly, in the near future, Binance will expand its operations in France with the expectation of becoming an infrastructure service provider for the blockchain ecosystem.

Previously, in April 2022, Binance was also licensed to operate in Abu Dhadi in the Middle East. Binance is also approved to operate in Bahrain and Dubai.

Recently, Binance has recruited many former leaders at national regulatory agencies to promote legal compliance in the field of digital asset management, including anti-money laundering and terrorist financing… Most recently, Binance invited Richard Teng, former CEO of the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM), to be the Managing Director of the Singapore branch. Prior to joining ADGM, Mr. Teng was the Managing Director of the Singapore Stock Exchange (SGX). He leads the legal team responsible for building policyframeworks and rules in the areas of listing, trading and clearing, as well as addressing regulations for new products and services.

Binance was founded in 2017 by engineer Chang Peng Zhao (commonly known as CZ). Currently, trading activity on the Binance ecosystem is up to 2 billion USD per day.

Binance owns a Blockchain ecosystem including: Cryptocurrency and Asset Exchange; Binance Labs Investment and Startup Incubator specializes in supporting and investing in potential Blockchain projects; The Launchpad tool makes it easy for startups to raise capital; Research Institutes and Centers – analyze data about Blockchain technology including Binance Academy, Binance Info, Binance Research; Binance Charity provides a technology platform for philanthropic activities of organizations and governments; Trust Wallet for decentralized applications dApps works.

Ms. Lynn Hoang – ASEAN Regional Director said, Binance’s ecosystem is aiming to best support users in each country. “In the ASEAN region alone, Binance will have a plan to support blockchain training for the innovation community, especially blockchain for the female community.”