Binance to Launch a Regulated Crypto Platform in Dubai and Bahrain
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Crypto exchange Binance is preparing to launch payment and trading services based on licenses obtained in Dubai and Bahrain, the South China Morning Post has reported.

Richard Tan, Binance's head of the MENA region, has said the company is working with local banks, hiring staff and compliance specialists. According to him, customer service will begin in June.

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The exchange plans to provide a full range of services, including payments and NFTs. Tan has said:

"Trading cryptocurrencies is just one of the business areas that we could deploy in the region, and there are many more opportunities besides trading."

A license from the Dubai Virtual Assets Regulatory Authority will initially allow Binance to offer services to qualified investors and financial institutions.

The company will be able to offer its products to retail consumers in the future. According to Ten, its involvement is extremely important for the development of the cryptocurrency sector, despite regulators' concerns.

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