Binance secures registration in New Zealand, to open local office
Binance has been given access to open a local office soon in New Zealand as the cryptocurrency exchange platform registered with the country’s Ministry of Businesses Innovation and Employment (MBIE).
Binance acquired the registration on September 10, allowing the crypto firm to trade non-fungible tokens (NFTs), spot trading and staking.
“We see New Zealand as a bit of a pioneer, so from that perspective I think there’s a lot to learn here with our local team working with Kiwis to envision the future of currency, transactions and the web,” Binance CEO Changpeng Zhao (CZ) said in a statement.
New Zealand residents can now also access the local Binance website.
Talks about digital assets began in the country last year when the central bank said it would participate in public consultations on the topics surrounding cryptos such as bitcoin, stablecoins and central bank digital currencies (CBDCs).
Besides New Zealand, Binance is in the process of registering locally with financial authorities worldwide. Countries including France, Italy and Spain have already registered Binance.
In Asia, Binance’s latest target has been Japan.
Japan’s easing of crypto policies has attracted Binance to request re-entry into the island nation after failing to do so four years ago due to strict measures, according to Bloomberg.
Japanese Prime Minister Fumio Kishida’s plan to revamp the economy has spurred growth in Web3 firms as it has become one of his top agendas as the country’s leader. Therefore, Binance has applied for an operational license in the country to improve crypto growth and adoption.
However, Binance was recently fined 3.3 million euros (now about $3.2 million) by the Dutch central bank for providing crypto services in the country without registration.
The crypto exchange said last year that it planned to apply for registration in a European country. It has also confirmed after being fined that it was in the process of applying for registration there.
In one of the company’s major developments recently, it has launched a first crypto-sponsored holiday called cryptotourism meant to illustrate easy, secure and efficient travel in Web 3.0, according to Blockchain.News.
As per the Binance announcement: “to demonstrate what’s possible when you forgo traditional currency and globetrot exclusively using crypto, Binance has teamed up with leading travel influencers Lauren Bullen and Jack Morris.”
Binance’s campaign aims to show that crypto-backed travel is no longer complicated when exploring the world. Shortlisted participants will have the chance to walk away with $50,000 in Binance Coin (BNB).
Furthermore, it seeks to renew the tourism industry as it continues to recover based on challenges, such as geopolitical conflict, market volatility and the Covid-19 pandemic.
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