Binance aims to set up crypto hub in Dubai

The Dubai World Trade Center Authority (DWTCA) and Binance have signed a memorandum of understanding to explore plans to create a global crypto hub.

As part of the initiative, Binance will help the authority formulate its vision to “accelerate the establishment of a new industrial hub for global virtual assets.”

Binance said it would focus on “helping to advance Dubai’s commitment to establish a new international ecosystem of virtual assets to enable long-term economic growth through digital innovation,” adding “the goal is to help crypto exchanges, businesses that offer blockchain and distributed ledger technology services. , and a wide range of currencies and digital assets to obtain a license in Dubai ”.

Binance is moving to Dubai?

In October, Binance CEO Changpeng ‘CZ’ Zhao tweeted about buying property in Dubai, and in November he revealed in one of his interviews that Binance had decided on the location of its headquarters. social and would announce it after contacting regulators.

“I’m not saying that’s where we’re going to permanently set up our head office,” Zhao added.

“But for example, if you look at the United Arab Emirates, if you look at France and Singapore, those regions are all very pro-crypto.”

Disclaimer: The views and opinions expressed by the author should not be taken as financial advice. We do not give advice on financial products.

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