by Kevin Helms
Binance has officially launched a cryptocurrency exchange in New Zealand after successfully registering with the country’s financial regulator. “We see significant value in having a serious New Zealand presence,” said Binance CEO Changpeng Zhao (CZ).
Global crypto exchange Binance announced Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation and Employment (MBIE). The crypto exchange also announced the official launch of Binance New Zealand (Binance NZ).
Noting that the registration was actually effective on Sept. 10, the company detailed:
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.
“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 has been expanding globally, including in Dubai, Kazakhstan, Romania, Spain, Brazil, Italy, and France. The company is also reportedly trying to reenter the Japanese crypto market after exiting it four years ago. Meanwhile, the crypto exchange is seeing a record increase in the number of Indian users after the government started imposing a new crypto tax.
The company has made regulatory compliance one of its top priorities. Last week, Binance created a global advisory board to tackle regulatory challenges.
What do you think about Binance launching a crypto trading platform in New Zealand? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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