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Abu Dhabi’s technology ecosystem, Hub71, has launched a new initiative, Hub71+ Digital Assets, to support the region’s Web3 and blockchain technology startups. What: Hub71, Abu [...]
<p class="MsoNormal text-align-justify">The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) has granted Financial Services Permission (FSP) to Binance, the world’s largest cryptocurrency exchange. </p><p class="MsoNormal">ADGM, an international financial hub located in the United Arab Emirates' capital city, <a href="https://www.adgm.com/media/announcements/binance-secures-financial-services-permission-from-adgms-fsra">announced</a> the permission on Wednesday, noting that the permission enables Binance to offer custodial services to professional clients in the hub. </p><p class="MsoNormal">The new license comes less than two months after Binance <a href="https://www.financemagnates.com/cryptocurrency/news/binance-gains-mvp-license-from-dubais-virtual-asset-regulator/">obtained a Minimal Viable Product (MVP) license</a> from Dubai’s Virtual Asset Regulatory Authority (VARA) to offer virtual asset-related services to qualified retail and institutional investors in the UAE's most populous city. In March, the exchange also <a href="https://www.financemagnates.com/cryptocurrency/regulation/binance-bahrain-receives-full-category-4-license/">got a Category 4 license</a> as a crypto asset service provider from the Central Bank of Bahrain.</p><p class="MsoNormal">'A Pivotal Step'</p><p class="MsoNormal">Speaking on the new license, Jasim Al Zaabi, Chairman of ADGM noted that Binance with permission will be able to offer their products and services to users in the Middle East and North Africa (MENA) region. Al Zaabi added that they will support Binance’s operations and research and development.</p><p class="MsoNormal">“Working with the ADGM and FSRA has been a highly collaborative process that underscores the value of cooperation between our industry and the public sector,” Richard Teng, Regional Head of MENA and Europe at Binance, said in his comment. </p><p class="MsoNormal">In his contribution, Dominic Longman, a Senior Executive Officer at Binance Abu Dhabi Limited, described the license as a “pivotal step in the growth of Binance in Abu Dhabi.” “We are excited to continue to strengthen our symbiotic relationship with ADGM and the city of Abu Dhabi and look forward to providing institutional investors with a secure and reliable platform for their virtual asset activities,” Longman added. </p><p class="MsoNormal">Other Binance Licenses </p><p class="MsoNormal">In the past few months, Binance has been able to obtain licenses in other jurisdictions across the world as part of its <a href="https://www.financemagnates.com/cryptocurrency/binance-launches-in-new-zealand-amidst-global-expansion/">expansionary efforts. </a>In October, the exchange’s Cypriot subsidiary got a crypto license from the Cyprus Securities and Exchange Commission, adding to its stack of European licenses from regulators in <a href="https://www.financemagnates.com/cryptocurrency/the-french-binance-license-is-paris-planning-to-become-europes-crypto-hub/">France</a>, <a href="https://www.financemagnates.com/cryptocurrency/regulation/binance-gets-green-light-from-italy-regulators/">Italy</a> and <a href="https://www.financemagnates.com/cryptocurrency/news/binance-obtains-vasp-registration-in-spain/">Spain</a>. </p><p class="MsoNormal">Earlier in August, the exchange’s subsidiary in the United States <a href="https://www.financemagnates.com/cryptocurrency/news/binanceus-obtains-money-transmitter-license-in-nevada/">received a money transmitter license</a> in Nevada. The license was an addition to the exchange's roster of similar licenses from other six states in the US.</p> This article was written by Solomon Oladipupo at www.financemagnates.com.
A new blockchain body has been launched with the backing of industry leaders in the Middle East region including figures from Binance, Crypto.com and the largest crypto exchange in the region.
DBS bank has ploughed ahead with its Bitcoin trading operations despite a slump in the digital asset markets. (Read More)
3iQ’s fund operates as a mutual underlying fund of bitcoin holdings valued by the weighted average price of BTC without taking direct custody of any bitcoin.
Cboe Global Markets (Cboe: CBOE), which operates a major derivatives exchange in the US, announced on Monday the completion of the acquisition of Eris Digital Holdings (ErisX), a Chicago-based cryp...
The Abu Dhabi Global Market (ADGM) is building out a regulatory framework that may make trading platforms or exchanges that have licenses to operate within the free trade zone to trade NFTs. (Read More)
The crypto market has been consolidating after a major dip on Saturday. While some tokens face a strong recession and are dropping towards lower levels, [...]
The crypto market retraced after Tether reports surfaced, indicating the stablecoin might hold Evergrande commercial papers (CP).
Evergrande fears extending into crypto, but market showing some strength against global downturn fears. Covered: Market Down Then Up. Likelihood Of Rebound Continuing. Market Down Then Up. The crypto market is up slightly after falling over 10% in terms of global market cap. As of press time, the global market cap is in the 1.9 […]
The post Crypto Market Showing Signs Of Rebound Despite Evergrande Fears appeared first on CryptosRus.
Bitcoin breaks the $28,000 barrier for the first time since June 2022, as global markets face turmoil from bank failures and inflation concerns.
The post News Bit: Bitcoin Soars to $28,000 Amid Global Market Chaos and Bank Liquidity Crisis appeared first on BitPinas.
Bitcoin reached a high of $28,422 per unit on Sunday at around 3 p.m. Eastern Time as the leading cryptocurrency has continued to rise during the last week. Since last Sunday, bitcoin has increased in value by 37.9% against the U.S. dollar, and the cryptocurrency’s overall market capitalization has swelled to $546 billion. Global Cryptocurrency [...]
The post Bitcoin Surges by More Than 37% Against US Dollar This Week, Taps $28K on Sunday appeared first on Crypto Breaking News.
BlackRock has secured a license in Abu Dhabi, focusing on AI and private markets while expanding its presence in the UAEs crypto-friendly ecosystem.
Dragonfly Capital has invested $10 million in cryptocurrency derivatives exchange Bitget to support its global market and service expansion and corporate social responsibility initiatives for crypto education and adoption. Bitget plans to expand its spot trading, launchpad, and Bitget Earn products. Despite the FTX collapse, cryptocurrency derivatives exchanges have recovered, and central exchanges' open interest has risen to approximately $68.5 billion. (Read More)
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