The Dubai Virtual Assets Regulatory Authority granted the platform “Binance The blockchain technology and cryptocurrency infrastructure provider today has a “Virtual Asset Services Provider” license, following the initial issuance of a “Minimum Viable Product” license that Binance obtained in July 2023.
This license will allow Binance to focus on diversifying Trading services, which give qualified individual and institutional investors the opportunity to participate in margin and derivatives products, including futures contracts and options. These services are currently strictly limited to services that meet the criteria of a qualified investor.
Richard Teng, CEO of Binance, said: “The license as a virtual asset services provider testifies to the prevailing spirit of innovation in the UAE, which continues its efforts to adopt the economic and transformative capabilities of blockchain technologies to benefit and support the growth of its residents.”
He pointed out that Binance will expand its product and service offerings to include the retail market, in addition to qualified investors and institutions.
