Binance, the world’s leading crypto exchange by trading volume announced a new partnership with the Dubai World Trade Centre Authority. Under the MoU, the global crypto exchange will help Dubai become a leading center for crypto businesses and also build a crypto ecosystem that will “generate long-term economic growth through digital innovation. The world’s leading exchange by trading volume announced a new partnership with the World Trade Centre Authority. Under the MoU, the global exchange will help Dubai become a leading center for businesses in the field of digital innovation, as well as build a community that will help generate long-term economic growth through digital innovation.
Binance will also help Dubai launch its own blockchain-based governmental service network and contribute to the development of blockchain technology in Dubai. Official press release from Binance exchange stated:
“Binance believes that Dubai’s new agenda will contribute to the growth of the global economy. In order to support this, Binance will participate in this knowledge-sharing ecosystem by sharing its experience in collaborating with global regulators to aid the development of progressive Virtual Asset regulations. The goal is to assist crypto exchanges, businesses that offer blockchain and Distributed Ledger Technology (DLT) services, and a wide range of digital currencies and assets to become licensed in Dubai.”
The agreement between the two parties was expected since Binance had made plans of opening a crypto venture in Dubai a few months back. This partnership announcement comes right after the government of Dubai declared Dubai World Trade Center Authority as the regulatory body and comprehensive zone for the crypto industry.
The new Dubai agreement will help Binance and its plans to conquer the Asian Pacific markets. Earlier, the leading crypto exchange also announced a new crypto venture in Indonesia with the country’s top telecom provider. The Indonesian crypto venture was confirmed just days after Binance’s affiliate exchange in Singapore pulled out its crypto license which was pending for over six months now. Binance has global aspirations but a slew of compliance warnings in the May-July phase put a dent in the rapid rise.
Binance coin has a current market capitalization of around $90 billion. Binance exchange has highest liquidity in Crypto Market with $19,316,017,018 trading volume per 24h. Also Binance has the most users on the exchange with 35,512,543 weekly visits.