Binance has received official approvals from the French authorities to operate in the country. The cryptocurrency exchange has been listed as a registered virtual asset service provider by AMF, France’s stock market watchdog. Binance will now be able to provide crypto trading and custody services for crypto assets like Bitcoin and Ether, among others. With this development, France became the first European country to hand Binance its official operational license.
The US-based crypto exchange aims to become a global licensed company operating in foreign countries.
Chengpeng Zhao), CEO of Binance shared the company’s latest developments on Twitter.
Last month, Zhao was in Paris when he gave a keynote speech at a crypto event. At the time, the 44-year-old cryptobillionaire called France “very progressive” in terms of giving crypto a chance with adoption.
Binancebinance) has also pledged to invest €105 million (about Rs 800 crore) in developing the crypto culture of the European nation.
It is estimated that more than 2.1 million people, or 3.34% of the total population of France, owned cryptocurrency last year.
Meanwhile, Binance now also has operational licenses in three regions of the UAE, including Bahrain, Abu Dhabi, and Dubai.
In April, Binance US officially received approvals to operate as a money transmitter in Puerto Rico.
Zhao had started Binance US to help the crypto community thrive in the United States. Recently, Binance US has obtained operational licenses in three other US states: Wyoming, Connecticut and West Virginia.
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