World’s leading cryptocurrency exchange platform, Binance, might launch trading and payment services in Dubai, by next month as revealed by Richard Teng, who heads North Africa and Middle East. This was made known in a blog post by crypto and NFT media source, Watcher News
Binance CEO Stirs Reaction In A Tweet
Strict regulations on crypto by government and other crypto regulatory boards pressured Binance’s status as the world’s leading crypto exchange platform. That led to the company’s quest for expansion in previously unexplored regions of the world.
The Middle East was considered a target with huge prospects and ultimately explored. Richard Teng, who was previously the company’s CEO in Singapore was made regional head of North Africa and the Middle East after just four months.
A significant milestone was achieved in March after the company got the Virtual Asset Licence, which gave it the right and authority to perform all forms of crypto services in the vast city of Dubai. Founder and CEO of Binance, Changpeng Zhao, has stirred up speculations of a possible move with his latest tweet. Zhao, or CZ, as he is widely known, retweeted claims his company was set to launch crypto operations in Dubai, with a controversial eye emoji.
Crypto adoption grows in Dubai
Meanwhile, Crypto adoption seems to be on the rise in Dubai and other closer regions. Recall that on March 9, Sheikh Mohammed bin Rashid Al Maktoum, the prime minister of UAE, announced via Twitter, a crypto legislation move in Dubai. The Dubai Virtual Assets Regulatory Authority has been established as a regulatory board.
Trending Stories
U.S. crypto exchange company, Kraken, is enjoying similar success in the region. Speaking to CNBC, the company’s managing director for Europe, the Middle East and Asia, Curtis Ting, revealed the company’s excitement after they’d been licensed to open up a regional headquarter in Abu Dhabi.
For a company that was launched in 2011, Kraken has become a reputable exchange company for cryptocurrency, as is evidenced by the over 60 countries in which they operate. Its latest achievement is being the first crypto company to trade directly in Abu Dhabi.
- Uniswap ($UNI) Surges 45% As Trading Fees Surpass Ethereum
- Ethereum Merge Delay? Developers Concerned Over Shadow Fork
- MINA Price Jumps By 20% Over This Announcement
- Bitcoin Mining Data Suggests More Price Dumps Ahead; Details
- This Bitcoin Bear Market Is Unlike Any Other, Here’s Why
- Here’s Why Shiba Inu Ecosystem Tokens’ Prices Are Shooting Up
- Goldman Sachs Likely to Raise $2 Billion To Acquire Celsius Assets, But Here’s the Catch
- Here’s Why SEC Chair Wants Single Rulebook For All Crypto Trading
- Huge Cardano Breakout Imminent After This Resistance Level?
- Shibarium To Launch Soon; How It Can Pump Shiba Inu Prices?
- Solana Price Analysis: SOL Price Rallying North With Eyes On $59
- XRP Price Analysis: Trendline Reversal Could Dump XRP Back to $0.3
- AXS Price Analysis: Rising AXS Price Aims To Reclaim $17.6 Mark
- Polygon Price Analysis: Can Trendline Breakout Lead MATIC to $0.75?
- ArbiSmart Price Analysis: RBIS Retests Multi-month Support; Buy this Dip?
- Waves Price Analysis: Emerging Pattern Threatens to Break $4.16 Support
- Apecoin Price Analysis: Trendline Fakeout Could Tumble APE by 25%
- Uniswap Price Analysis: Can Ongoing Recovery Carry UNI Price to $8?
- SHIB Price Analysis: $0.00001 Breakout Could Pump SHIB by 33%
- Graph Price Analysis: High Volume Reversal may Drive GRT to $0.15
