• September 29, 2023


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Abu Dhabi Regulator Grants Binance a License to Provide Custody Services to Institutional Investors

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The Financial Services Regulatory Authority (FSRA) has issued a permit to Binance to work as a custodian for institutional clients.

As a result, the company will be able to provide relevant services to clients that meet FSRA requirements.

ADGM Chairman Ahmed Jasim Al Zaabi has said:

“Our robust and transparent regulatory framework is the foundation of ADGM’s strategy to create a trustworthy and well-regulated environment that will pave the way for sustainable innovation in the financial sector and solidify the UAE’s status as a rapidly growing global crypto market.”

Binance received approval in principle in April from the Abu Dhabi Global Market Financial Services Authority to operate as a virtual asset broker-dealer.

In the summer, the exchange announced the launch of payment and trading services based on licenses obtained in Dubai and Bahrain.