Tuesday, November 29, 2022

Binance Set up Shop in New Zealand After Approved Registration

Cryptocurrency exchange Binance is now registered in New Zealand with the Ministry of Business, Innovation, and Employment (MBIE). The registration that Binance has acquired was issued on September 10 but it’s now live. From now, Binance will cover activities that involve Non-fungible tokens (NFTs), spot trading, and staking amongst others.

Notably, this is Binance’s official launch as a financial service provider in New Zealand. Binance registration in New Zealand is coming at a period when the territory is expanding its Web3.0 sector. Ultimately, New Zealanders now have the opportunity to enjoy more crypto offerings through the cryptocurrency exchange. 

Binance New Zealand will be led by a former executive of Auckland-based software development firm CodeHQ, General Manager Ben Rose. Binance Chief Executive Officer, Changpeng Zhao believes that New Zealand was one of the first adopters of digital transactions. Although it is often overlooked as a country with a smaller market. 

“We see New Zealand as a bit of a pioneer, so from that perspective, I think there’s a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions, and the web,” Zhao commented

Binance New Zealand Offers Value to Kiwis

In addition to the registration approved by the New Zealand MBIE, Binance is set to open a new office in the country. Most of its operations will be carried out from this office with Ben Rose serving as an overseer. The move to set up shop in New Zealand is rather a strategic sense for the globally recognized crypto exchange. 

“This move aims to allow Kiwi cryptocurrency investors the opportunity to trade with the cryptocurrency exchange platform. This is a development for Kiwi investors and those with an interest in the future of Web3.0 here. 

Having the cryptocurrency business registered to operate in New Zealand not only means access to the lowest trading fees, but it also means Kiwis can expect to have access to global product and service innovations happening in this space,” Rose said.

Equally, Binance had received several nods of approval across many European jurisdictions. The most recent are licenses and approvals from Spain, Italy, France, and Kazakhstan.

Victoria Nye
A Blockchain columnist who is enthusiastic about developing a network interface between the real world and the cryptosphere.

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