Binance expands crypto trading operations to 5,000,000 Pacific countries
Binance, the largest digital asset exchange by trading volume, is opening its doors to serve crypto enthusiasts living in a Pacific island nation.
According to a new blog post, the exchange says it has registered as a financial services provider in New Zealand and officially launched “Binance New Zealand.”
Among other things, Binance can now offer the country’s residents spot trading, non-fungible token (NFT) trading and staking.
Says Changpeng Zhao, the exchange’s CEO,
“New Zealand is an exciting market with a strong history of fintech innovation and our team of New Zealand binanciers are working hard to bring crypto freedom to Kiwis.”
The expansion to New Zealand is the latest in a series of new jurisdictions for Binance. In July, the Bank of Spain approved the exchange’s subsidiary, Moon Tech Spain, as a virtual asset service provider (VASP), allowing Binance to offer exchange and custody services in the country.
And the Spanish registration came on the heels of the exchange receiving regulatory approval in France and Italy in May.
The company has continued to expand its business despite the crypto bear market. Zhao said in late June that the company is currently looking at 50-100 new deals.
“We actually see a lot of opportunity in the market. So we’re increasing our hiring, increasing our [merger and acquisition] activities, we are looking at lowering the fees on our platforms so that we make it easier for our users during this period.”
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Featured image: Shutterstock/New Energy
