Binance has been granted an Operational Minimum Viable Product (MVP) license to offer virtual asset exchange services in Dubai.
This license allows Binance FZE, the exchange’s subsidiary based in Dubai, to provide its services initially to institutional and qualified retail investors.
The news follows Binance’s earlier efforts to obtain a provisional MVP license in March 2022 and a preparatory MVP license in September 2022.
After securing this authorization, eligible users in Dubai now have access to services that are supported by investor protection and market assurance standards designed specifically for the virtual asset sector.
“We are extremely proud to be the first exchange to receive an operational MVP License from VARA,” said Richard Teng, Head of Regional Markets at Binance. “Our priority is to operate the first regulated exchange in and from Dubai, operating in a FATF-compliant ecosystem that offers scalability at the global level, with uncompromising user certainty.”
