7 December 2022

Binance Expands Crypto Trading Operations to Pacific Ocean Country of 5,000,000

Binance, the largest digital asset exchange by trading volume, is opening its doors to serve crypto enthusiasts residing in an island country located in the Pacific Ocean.

According to a new blog post, the exchange says it has successfully registered as a financial services provider in New Zealand and officially launched “Binance New Zealand.”

Binance can now offer the country’s residents spot trading, non-fungible token (NFT) trading and staking, among others.

Says Changpeng Zhao, the exchange’s chief executive,

“New Zealand is an exciting market with a strong history of fintech innovation and our team of Binancians in New Zealand are working hard to bring freedom of crypto to Kiwis.”

The expansion to New Zealand is the latest in a spree of new jurisdictions for Binance. In July, the Bank of Spain approved the exchange’s subsidiary, Moon Tech Spain, as a virtual asset services provider (VASP), allowing Binance to offer exchange and custody services in the country.

And the Spanish registration came on the heels of the exchange receiving regulatory approval in France and Italy in May.

The company has continued to expand its operations despite the crypto bear market. Zhao said in late June that the company is currently eyeing 50-100 new deals.

“We actually see a lot of opportunity in the market. So we’re increasing our hiring, increasing our [merger and acquisition] activities, we’re looking at lowering fees on our platforms so that we make it easier for our users during this period.”

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Featured Image: Shutterstock/New Energy

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