Binance has received a virtual asset license in Dubai to offer services to qualified investors, as the world’s largest crypto giants continue their Middle East drive. 

See related article: Binance wins license in Bahrain, explores acquisition of Brazilian brokerage

Fast facts

  • The license will allow Binance to operate within Dubai’s “test-adapt-scale” model and serve pre-qualified investors and professional financial service providers.
  • Binance is also expected to anchor a blockchain hub in the Dubai World Trade Centre.
  • On Monday, Binance announced that it obtained a license from the Central Bank of Bahrain to operate as a crypto service provider.
  • On Tuesday, FTX said it was the first to obtain a Dubai license to establish and run its virtual asset exchange.

See related article: Binance eyes gaming, e-commerce in upcoming acquisition spree