October 1, 2023

Binance Backs Crypto Hub at Dubai World Trade Center

Binance Backs Crypto Hub at Dubai World Trade Center

The world’s largest cryptocurrency exchange Binance is one of the first crypto exchanges to support the new crypto hub of the Dubai World Trade Center Authority (DWTCA).

Binance has officially announced that the exchange has signed a letter of intent with the DWTCA after the agency officially announced the opening of a comprehensive crypto zone in Dubai on Monday.

As part of participating in the DWTCA initiative, Binance wants to help the agency “accelerate the construction of a new industrial hub for global virtual assets,” the company announced.

The company said that the Binance platform will also support Dubai’s commitment to building a new international ecosystem for digital assets to enable long-term economic growth through digital innovation. She also said:

“Binance believes that the new Dubai initiative will help the global economy grow by targeting cryptocurrency exchanges, companies providing blockchain technology services, distributed ledgers, and a wide range of currencies and digital assets in Dubai to help gain approval.

the Phone Binance CEO Changpeng Zhao He was recently interested in crypto-related regulatory developments in Dubai. He was among the first to hear about the new crypto initiative DWTCA on Monday in the crypto community mentioned. Zhao is also scheduled to reside in his first home in Dubai in October I buy.

The collaboration between Binance and DWTCA could prove important to crypto exchanges as the company has struggled with several global financial regulators this year.

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in this context: Despite regulatory setbacks: Binance wants to register in the UK

As previously reported, Binance was forced to suspend some of its services after dozens of financial regulators around the world issued warnings against the cryptocurrency exchange. Germany, Italy, the United States, the United Kingdom, Canada, Japan and Poland, among other countries, have all warned about Binance.