Basic conclusions

  • Following the previous issuance of a Minimum Viable Product (MVP) license in July 2023, Binance FZE has obtained a Virtual Asset Service Provider (VASP) license from the regulatory authorities in Dubai. This achievement represents a significant milestone in Binance’s mission of nurturing the future of digital assets.

  • Through the VASP license, Binance can expand its product offering in the UAE not only to qualified and institutional investors but also to the retail market. This includes access to a wide range of digital asset services such as spot trading, lending and borrowing, and staking.

  • Eligible users will receive access to put and derivatives trading products such as futures and options trading.

  • Obtaining a VASP license underscores Binance's commitment to innovation in the global financial landscape while ensuring transparency, regulatory compliance and open access to the benefits of blockchain technology.

We are proud to announce that Binance FZE, our Dubai branch, has obtained a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). Following the initialMinimum Viable Product (MVP)licensing release in July 2023, this represents a significant milestone for Binance and the global virtual asset positioning.

Moving from an MVP license to a VASP license allows Binance FZE to expand its product offering to the retail market alongside institutions and qualified investors. Individual clients can now access a wide range of digital asset products and services, including spot trading, borrowing and staking – the largest range of regulated virtual asset services available not only in the UAE but also globally.

Illuminate new possibilities

Upon commencing operations under the new VASP license, Binance FZE will significantly increase its existing offerings beyond spot trading and certified local currency services. Rather than simply expanding the ability to choose more currencies and tokens, users can look forward to a greater range of exchange services. This landmark global license paves the way for all clients in the UAE to benefit from a regulated platform for a full range of virtual asset products and services.

As Binance FZE Managing Director, Alex Shehadeh, said, “This is a major milestone that underscores our commitment to providing secure, regulatory-compliant, and world-class services to our users globally. It underscores Dubai's position as a forward-thinking city that recognizes and embraces the financial potential offered by blockchain technology.

Various offers

For users looking for passive income opportunities, Binance FZE will offer services specifically tailored for this purpose, such as Simple Earn. By enhancing the range of investment strategies available, it will also offer new options through lending and borrowing services, including virtual asset loans. Additionally, management and investment services will enable users to leverage features such as ETH staking, BNB Vault, and Launchpool to amplify the profit potential of their digital assets.

By focusing on diversified trading services, the license will allow qualified investors and institutions to engage in leveraged and derivatives trading services, including futures and options. Currently, these offers are limited to qualified investors who meet the required criteria.

As Richard Teng, CEO of Binance said, “Obtaining a premium VASP license not only confirms, but conclusively demonstrates our unwavering commitment to revolutionizing the future of finance. Our achievement of this milestone represents a strong affirmation of our continued pursuit of transparency, regulatory compliance and responsible growth in the expanding digital assets space. It is an exciting prospect to expand access to the transformative economic benefits of blockchain technology for our users in the UAE.

Committed to growth

Obtaining a VASP license for Binance FZE is more than just a noteworthy achievement; It is a testament to our relentless pursuit of financial innovation, compliance and global reach. With the support of this prestigious license, we are poised to transform the digital assets landscape in Dubai and beyond, and open access to a wide and diverse range of virtual asset products and services.

With a firm commitment to expanding our reach while ensuring user security and regulatory compliance, we are excited to provide new possibilities for individual and institutional investors alike. This bold move reinforces our promise to create a safe and regulated space based on the enormous potential of blockchain technology. As we move forward, we do so with a vision of a more inclusive, transparent, and empowering financial future for all.

Disclaimer: Digital asset prices are subject to high market risk and price fluctuations. The value of your investment can fall as well as rise, and you may not get back the amount invested. You are solely responsible for your investment decisions, and Binance is not responsible for any losses you may incur. Past performance is not a reliable indicator of future performance. You should only invest in products that you know and understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial advisor before making any investment. This material should not be construed as financial advice. For more information, see Terms of Use and Risk Warning.