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Binance FZE Becomes the First to Receive Operational MVP License in Dubai

Published 31/07/2023, 09:02
Binance FZE Becomes the First to Receive Operational MVP License in Dubai

  • Binance becomes the first exchange to receive Operational MVP License from Dubai.

  • The approved services include virtual asset services to retail and institutional investors.

  • Binance previously received provisional and preparatory licenses from Dubai.

Binance’s Dubai subsidiary, Binance FZE, has become the first exchange to receive the Operational Minimum Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA).

According to the official statement from the firm, this achievement implies Binance can now offer a range of approved services in Dubai, including exchange and broker-dealer services. Initially, these services were accessible to institutional and qualified retail investors.

The exchange highlighted that the journey to this accomplishment had been arduous, given that it all started with a provisional MVP license in March 2022, followed by a preparatory MVP license in September of the same year.

Now, the Dubai Authority has granted the exchange two operational licenses, giving Binance the green light to engage in virtual asset exchange and broker-dealer services limited to institutional and qualified retail investors in…

The post Binance FZE Becomes the First to Receive Operational MVP License in Dubai appeared first on Coin Edition.

The post Binance FZE Becomes the First to Receive Operational MVP License in Dubai appeared first on Coin Edition.

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