Binance’s international operations and liquidity will now be supervised end-to-end by the Financial Services Regulatory Authority in the financial free zone in Abu Dhabi.
Crypto giant Binance has been granted three separate licenses from Abu Dhabi’s financial regulator, providing a green light to operate its exchange, clearing house and broker-dealer services under the Financial Services Regulatory Authority’s (FSRA) regulatory framework.
The FSRA, an independent financial regulator of the Abu Dhabi Global Market (ADGM), a financial free zone in Abu Dhabi, has approved licenses for Binance’s Nest Exchange Limited, Nest Clearing and Custody Limited, and Nest Trading Limited, according to a news release and announcement from Binance on Monday.
Richard Teng, the co-CEO of Binance, said in a statement that the licenses provide regulatory clarity and legitimacy, enabling Binance to support its global operations from ADGM.
