Binance Receives Regulatory Approval in New Zealand

Binance, the world’s largest cryptocurrency exchange, has obtained a registration license from New Zealand authorities and established a local entity in the country. The most recent development is consistent with Binance’s ongoing efforts to expand its services globally.

Kia Ora, New Zealand! ??

We’re pleased to announce that #Binance has successfully registered as a Financial Service Provider with the New Zealand Ministry of Business, Innovation and Employment, and has officially launched BINANCE New Zealand. pic.twitter.com/xCyBmRVb2x

— Binance (@binance) September 29, 2022

Binance is not slowing down in its efforts to expand its services globally. Binance CEO Changpeng Zhao, also known as “CZ,” announced the news on Thursday in a video posted to the company’s official Twitter account (September 29, 2022). According to the executive, the exchange has obtained registration in New Zealand to operate as a financial services provider.

“New Zealand is an exciting market with a strong history of fintech innovation, and our team of Binancians in New Zealand is working hard to bring the freedom of crypto to Kiwis.”

The latest development comes shortly after Binance announced plans to re-enter the Japanese market after a four-year absence due to the country’s lax crypto regulatory framework.

Meanwhile, Binance continues to collaborate with various regulators to expand its global presence. The cryptocurrency exchange recently received a minimal viable product (MVP) license from the Virtual Asset Regulatory Authority in Dubai (VARA). Binance obtained a virtual asset license earlier this year to serve approved investors and professional financial service providers.

The exchange giant also received preliminary approval from Kazakhstan regulators, as well as regulatory approvals from France, Italy, and Spain.