Crypto exchange Binance has received approval in principle from the Abu Dhabi Global Market (ADGM) to operate as a broker-dealer in digital assets.

 Cryptocurrency exchange Binance will now be able to serve users by operating as a broker-dealer in Abu Dhabi. After Bahrain and Dubai, Binance has also received approval from Abu Dhabi, gaining its third approval in the Middle East region. Thus, if the licensing of the UAE capital Abu Dhabi is successful, Binance will serve customers in the MENA region through its subsidiary Binance (AD). As it is known, Binance has recently received license approval from Dubai. Richard Teng, Head of Middle East and North Africa at Binance, said:

 “Binance is actively engaging with global regulators such as ADGM as part of its continued commitment to uphold global standards and collectively support the developments and sustainable growth of the crypto ecosystem.”