Binance Receives License to Offer More Crypto Services in Dubai

Binance Receives License to Offer More Crypto Services in Dubai


Cryptocurrency Binance has received another license from Dubai’s crypto regulator. Binance can now provide more crypto-related services in Dubai.

Binance’s New License in Dubai

Cryptocurrency Binance announced Wednesday that it has received the Minimal Viable Product (MVP) license from Dubai’s Virtual Asset Regulatory Authority (VARA).

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The announcement details that besides allowing Binance to “open a client money account with a domestic bank,” having an MVP license means:

Binance can offer an approved range of virtual asset-related services to suitably qualified retail and institutional investors in Dubai.

The approved services are crypto exchange services, conversion between cryptocurrencies and fiat currencies, transfer of crypto assets, custody and management, virtual token offering and trading services, and payments and remittance services.

VARA, established in March under the Dubai Virtual

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