Tuesday, 02 January 2024 12:17 GMT

Binance Secures ADGM Approval To Offer Global Services From Abu Dhabi


(MENAFN- Khaleej Times)

Binance, the world's largest cryptocurrency exchange, has received official approval from Abu Dhabi Global Market's (ADGM) regulatory authority to operate its global platform. This move highlights Abu Dhabi's growing role in regulating the crypto sector.

The licence, granted by ADGM's Financial Services Regulatory Authority (FSRA), gives Binance credibility and broad access to international markets, reinforcing its position as a leader in compliant digital finance.

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Under this approval, Binance announced that it will operate through three regulated entities within ADGM, each with specific responsibilities:

  • Nest Exchange Services Limited – a Recognised Investment Exchange handling all trading, including spot and derivatives.

  • Nest Clearing and Custody Limited – a Recognised Clearing House managing clearing, settlement, and safeguarding of user digital assets.

  • Nest Trading Limited – a Broker-Dealer managing off-exchange activities and OTC trading.

Binance describes this as one of the most comprehensive regulatory frameworks for any global crypto platform. The company plans to start its ADGM-regulated operations on January 5, 2026.

Co-CEO Richard Teng said the licence“provides the regulatory clarity and legitimacy needed to support our global operations from ADGM” and added that this regulatory foundation offers“users peace of mind knowing that Binance operates under a globally recognised, gold-standard framework.”

Binance reassured customers that these changes are mainly regulatory and will not affect the user experience. "Existing credentials, balances, order history, and trading functions will remain unchanged, with services provided through the newly regulated entities to ensure compliance," the statement said.

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Khaleej Times

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