Binance Receives FSP License In Abu Dhabi Amidst FTX Fiasco


Binance is the leading crypto exchange worldwide, with several digital tokens available to traders and investors. Its trade volume makes it the largest in the world.

Binance primarily provides a seamless crypto transaction experience to its users. It also offers digital wallets for those who wish to hold their digital assets.

How To Get Free Crypto  
Win an all-expenses-paid VIP trip to the FIFA World Cup and $30,000 in exclusive prizes with Punt Casino – the Road to Qatar awaits!
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

However, some countries don’t support the use of the Binance platform. This fact has resulted in the temporal freezing or permanent closure of some Binance traders’ and investors’ wallets. But the crypto exchange is still pushing, evidenced by its recent achievement.

Binance Acquires Another Operational License

Binance keeps spreading its tentacles all over the globe. It has eventually stretched further to the United Arab Emirates. The crypto exchange is now ready for digital asset transactions in the ADGM (Abu Dhabi Global Market).

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Recently, Binance received an FSP (Financial Services Permission) from the FSRA (Financial Services Regulatory Authority) in the ADGM. The company can now offer its crypto services in the emirate’s Global Market through this license.

For example, the company will be in charge of storing and securing the crypto assets of professional clients. However, the company must meet the FSP requirements from the FSRA.

Coinbase Banner  

The company will likely meet these requirements considering its ADGM achievement earlier this year. In April 2022, the ADGM authority offered Binance an IPA (In-Principle Approval). The company can legally carry out digital currency broker-dealer services through this license.

Countries Perform Crypto To Fiat Withdrawal With Binance

Some countries are not interested in the conversion of digital currencies to fiat. The operation comes with tight regulations for other countries, and not all crypto investors or traders would want to follow such rules.

The fact that Binance only permitted crypto to crypto transactions, until lately, made it functional in several countries. But there are other reasons some countries prohibit the use of the platform, such as being in incompliance with their rules and regulations.

In the meantime, the company has no official list that shows its supported countries. But it operates in many nations across Asia, Europe, the Americas, Africa, etc.

FreeBitcoin Banner  

While no official list shows the countries Binance operates in, it can function in many. These countries include Belgium, Germany, the UK, Italy, France, and more.

Investors hope that the recent achievement of the exchange will positively affect the token in a short while. But until then, the market remains in the red zone.

The market watch on the Binance coin is not projecting any positive reports. This is evident from the token’s 24 hours price movement of -1.26% at the time of this piece. The coin is now trading at $272.73, as CoinMarketCap data.

BNB Price trades below $300 l BNBUSDT on

Featured Image From Pixabay, Charts From

Go to Source
Author: Denis

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.