Abu Dhabi grants Binance financial services permission, economist hits out

Abu Dhabi grants Binance financial services permission, economist hits out


Abu Dhabi’s Global Market (ADGM) and Financial Services Regulatory Authority have granted cryptocurrency exchange Binance clearance to offer its services in the region.

An official announcement from the United Arab Emirates capital’s financial center confirmed that Binance will be cleared to offer cryptocurrency custodial services to professional clients once it has met the requirements for its Financial Services Permission.

The news came after Binance founder and CEO Changpeng Zhao attended the Abu Dhabi Finance Week. Zhao appeared onstage alongside Galaxy Digital CEO and investor Mike Novogratz at the event for a wide-ranging conversation that touched on the aftermath of the ongoing FTX bankruptcy.

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Binance had already gained a foothold in Abu Dhabi after being granted in-principle approval from ADGM in April 2022. This gave the exchange the go-ahead to

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