Binance Plans Regional Payment Hub For Central Asia, CIS And Eastern Europe
Kazakhstan's National Bank and Binance Investments Co. have signed a memorandum of understanding to explore the development of a regional settlement hub for the Binance Group in Kazakhstan.
The planned hub will focus on international payments and money transfers, as well as transactions involving digital assets. It is expected to serve Binance's global clients in Central Asia, the CIS and Eastern Europe.
The signing ceremony was attended by National Bank Chairman Timur Suleimenov and Binance founder Changpeng Zhao.
As part of the project, Binance plans to establish a local group entity in Kazakhstan and develop the necessary infrastructure. The organization is expected to obtain a National Bank license to operate as a first-category payment organization.
The project is expected to transfer part of Binance Group's regional operations to Kazakhstan and enable a significant portion of clients in the region to be served through the Kazakh jurisdiction.
Binance is one of the world's largest cryptocurrency platforms, allowing users to buy, sell, exchange and transfer digital assets.
Image: Dado Ruvic / Reuters
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment