After successfully registering with the country’s financial authorities, Binance has officially started a cryptocurrency exchange in New Zealand. Binance CEO Changpeng Zhao stated, “We see substantial value in having a serious New Zealand presence” (CZ).
Binance, the world’s largest cryptocurrency exchange, announced on Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation, and Employment (MBIE). Binance also announced the formal launch of Binance New Zealand (Binance NZ).
Noting that the registration became effective on September 10, the business explained (in non-verbatim): “This registration enables Binance NZ to provide a variety of financial services including as spot trading, staking, NFTs, and more.”
“A lot of prominent IT corporations are slow to build a New Zealand headquarters,” said Binance CEO Changpeng Zhao (CZ). I suppose it’s easier for some to dismiss because it’s a smaller market, but we see considerable benefit in having a serious New Zealand presence.”
New Zealand has a long history of fintech innovation, with one of the world’s earliest and most fast adoptions of digital transactions.
“We consider New Zealand as a bit of a pioneer, so I think there’s a lot to learn here with our local team working alongside Kiwis to imagine the future of currency, transactions, and the web,” Zhao added.
Binance is growing globally, with offices in Dubai, Kazakhstan, Romania, Spain, Brazil, Italy, and France. The corporation is also attempting to re-enter the Japanese cryptocurrency industry after leaving it four years ago. Meanwhile, since the government began enforcing a new crypto tax, the crypto exchange has seen a record spike in the number of Indian users.
Regulatory compliance is one of the company’s main priorities. Binance established a global advisory council last week to address regulatory issues.
