One of the world’s leading cryptocurrency exchanges, Binance, has been granted approval by the Kazakhstan authorities to commence an operation of a digital asset platform in the country as per Twitter post.
This new development comes less than a week after the exchange was granted approval by the New Zealand’s Ministry of Business, Innovation, and Employment to operate as a registered financial service provider.
The latest license issued by the Astana Financial Services Authority (AFSA) will empower Binance to have the status of an authorized platform that can operate as a digital asset and custody services provider at the Astana International Financial Center.
It should be noted that the Astana International Financial Center is a prominent regional platform that focuses on the development and regulation of services pertaining to digital assets.
Earlier in August, AFSA announced that it had conferred in-principle approval on Binance with a view to operating as a digital asset trading facility. The latest decision has thus zealed the processes.
AFSA Chief Executive Officer (CEO), Nurkhat Kushimov, remarked that the approval of Binance will set the country on the path of becoming a vibrant ecosystem for digital assets both locally and regionally.
Binance has pledged to assist Kazakhstan in developing rules and clear roadmaps that will help the country and other cryptocurrency firms become more efficient, productive, and service-oriented.
Binance Increasing Expansion and Growth
Binance has recorded a significant level of growth and expansion into different countries in 2022. The leading exchange had recently commenced operation in Australia, with a boost of over 700,000 active users.
The crypto exchange is also making moves towards acquiring operational licenses in Germany and other European countries.
Similarly, Binance is on the path to acquiring licences on VASP and electronic money transmitters in the Philippines.
It would be recalled that the exchange was recently lauded for expanding its areas of coverage into New Zealand, bearing in mind the huge amount of crypto users in the country. Binance CEO Chanpeng Zhao asserted that Oceanians account for 1 million out of 320 million crypto users worldwide.
