Binance has been registered with the New Zealand Ministry of Business, Innovation and Employment (MBIE), making it a licensed virtual asset service provider in the country.
Binance CEO Changpeng Zhao called New Zealand an “exciting market” as it accounts for at least 1 million users out of 320 million global crypto holders.
“New Zealand is an exciting market with a rich history of fintech innovation. Our team intends to create conditions for the most convenient work with cryptocurrencies,” Changpeng Zhao said.
Binance will open its representative office in New Zealand. Under the MBIE license, spot trading operations, including NFTs, as well as staking will be available to New Zealand clients of the exchange.
As a reminder, earlier this month, Binance received a permanent minimum viable product (MVP) license from the Dubai Virtual Assets Regulatory Authority (VARA).