Binance Discusses With UAE Regulators To Pilot Headquarters in the Country

By | December 19, 2021
  • Binance is discussing with the UAE a plan to test its headquarters in the country.
  • The exchange spoke primarily with officials from the Abu Dhabi Global Market, Dubai International Financial Center, and Dubai Multi-Product Center.
  • This confirms CZ’s statement that they have planned to establish multiple locations.

Binance Exchange has discussed with regulators in the United Arab Emirates (UAE) its plans to open a headquarters in the Persian Gulf nation.

Specifically, Binance held a discussion with economic officials from the Abu Dhabi Global Market, the Dubai International Financial Center, and the Dubai Multi-Product Center.

Alongside this, Binance tagged Dubai Financial Services Authority senior official Mark McGinness in a plan for its headquarters. They did so with the mindset of obtaining approval to launch the headquarters in the country.

Looking at their monumental effort these days, Binance wants to establish itself as a mature and regulated financial institution. In essence, appearing as a mature crypto exchange can help you drive immense innovations and confidence for mainstream adoption compared to what you have today.

Furthermore, Binance’s plan to establish a headquarters in the United Arab Emirates confirms CEO Changpeng Zhao (CZ) statement saying:

Binance is stepping up licensing and compliance procedures and plans to establish multiple locations.

In this note, Abu Dhabi global market officials commented that the country has great love when it comes to new opportunities and innovations. With this, they have implemented a virtual asset framework to attract and host fintech companies.

According to Abu Dhabi Global Market (ADGM),

All local and global entities seeking to access opportunities in the region and its “comprehensive” virtual asset regulatory framework is built for exchanges, custodians, intermediaries and related services. You already have a number of digital asset entities and the ecosystem is growing rapidly.

Since the post is a rumor, we will keep our eyes open and let you know if the UAE agrees with Binance’s country headquarters plan.

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