Binance Officially Launches Crypto Exchange in New Zealand Following Regulatory Approval – Binance, the world’s largest cryptocurrency exchange, announced on Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation, and Employment (MBIE).
Binance also announced the formal launch of Binance New Zealand (Binance NZ). Noting that the registration became effective on September 10, the company stated: “This registration allows Binance NZ to offer a range of financial services, including spot trading, staking, NFTs and more.”
Binance CEO Changpeng Zhao (CZ) commented: “A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see significant value in having a serious New Zealand presence.” The executive continued: “The history of fintech innovation in New Zealand is very well known, with one of the earliest and most rapid uptakes of digital transactions in the world.”
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“We see New Zealand as a bit of a pioneer, so from that perspective, I think there’s a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions and the web,” Zhao further opined. Binance is growing globally, with offices in Dubai, Kazakhstan, Romania, Spain, Brazil, Italy, and France. The firm is also attempting to re-enter the Japanese cryptocurrency market after exiting it four years ago.
Meanwhile, since the government began enforcing a new crypto tax, the crypto exchange has seen a record spike in the number of Indian users. Regulatory compliance is one of the company’s main priorities. Binance established a global advisory council last week to address regulatory issues.
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