Editing by Nathaniel Cajuday and Michael Mislos
Cryptocurrency exchange Binance has secured registration as a financial service provider with the New Zealand Ministry of Business, Innovation, and Employment (MBIE). The news marks the official launch of Binance New Zealand following its recent expansion into Australia and New Zealand.
It is the most recent of Binance’s global registrations, which include France, Italy, Spain, and other countries. The move signals a significant moment in the expansion of New Zealand’s expanding Web3 sector.
Changpeng Zhao, the Founder and CEO of Binance, said how he sees this decision to open a New Zealand office as making strategic sense for the global firm:
“A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see significant value in having a serious New Zealand presence. The history of fintech innovation in New Zealand is very well known, with one of the earliest and most rapid uptakes of digital transactions in the world.”
Binance received its registration as a financial service provider from MBIE on September 10, 2022. This allows Binance New Zealand to provide a range of financial services. Kiwis who wish to trade on Binance can head to their official website to register for an account and set up their own Binance wallet.
“We see New Zealand as a bit of a pioneer, so from that perspective, I think there’s a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions, and the web,” the CEO added.
Binance New Zealand will be led by General Manager Ben Rose. He served recently as Chief Commercial Officer of one of the leading New Zealand software development firms, CodeHQ.
Rose shared that this move allows Kiwi cryptocurrency investors the opportunity to trade confidently with the most trusted, liquid, and robust crypto exchange platform in the world.
“This is an exciting development for Kiwi investors and those with an interest in the future of Web3 here,” stressed Rose. “Having the world’s leading crypto business registered to operate in New Zealand not only means access to the lowest trading fees, but it also means Kiwis can expect to have access to many exciting global product and service innovations happening in this space.”
Meanwhile, in the Philippines, Binance has been in talks with government agencies like the CICC, in terms of Cybercrime-related seminars which had a dialogue with law enforcement on how to eradicate criminality that are using cryptocurrencies in their schemes. (For more information, read Binance, CICC Conduct Blockchain Forensics Seminar for PH Agencies to Fight Crypto Crime, Binance & PH Cybercrime Unit Detail Crypto Crime Reports and Binance on Working with Gov’t: Trust, Integrity Important)
The crypto exchange giant also expressed its interest in acquiring a local firm with a virtual asset services provider (VASP) and electronic money issuers (EMI) licenses, though policy think tank group Infrawatch PH has already asked the Bangko Sentral ng Pilipinas if it’s legal or not. The Central Bank has not yet answered.
Globally, Binance announced the creation of its Global Advisory Board, which is composed of renowned experts in public policy, government, finance, economics, and corporate governance. (For more details, read Binance Announces Global Advisory Board)
This article is published on BitPinas: Binance New Zealand Now Operational
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