Binance has officially launched a cryptocurrency exchange in New Zealand after successfully registering with the country’s financial regulator. “We see significant value in having a serious New Zealand presence,” said Binance CEO Changpeng Zhao (CZ).
Binance launch a crypto trading platform in New Zealand
Binance, a global crypto exchange, announced on Friday that it had been approved by the Ministry of Business, Innovation and Employment of New Zealand (MBIE) to register as a financial services provider. Binance New Zealand was officially launched on Friday by the crypto exchange.
The company noted that registration became effective Sept. 10.
Binance NZ can now offer financial services such as spot trading and staking.
Binance CEO Changpeng Zhao (CZ) commented: “A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see significant value in having a serious New Zealand presence.” The executive continued:
New Zealand has a rich history in fintech innovation. It is home to one of the fastest growing digital transaction markets in the world.
“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 further opined.
Binance’s global expansion has seen it expand to countries like Dubai, Kazakhstan and Romania. According to reports, Binance also wants to return the Japanese crypto market. The crypto exchange has seen a record number of Indians use it, following the introduction by the government of a crypto tax.
Compliance with regulatory requirements has been a top priority for the company. Binance established a global advisory panel last week to address regulatory issues.
Do you have any thoughts about Binance opening a New Zealand-based crypto trading platform called Binance? Comment below.
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