Breaking: Binance Gets FSP License In Abu Dhabi Amid FTX Crisis PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Breaking: Binance Gets FSP License In Abu Dhabi Amid FTX Crisis

Time Stamp: November 16, 2022 5:32 AM

Top cryptocurrency exchange Binance is all set to start its crypto custody services in the Abu Dhabi Global Market (ADGM).  The Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market has granted Binance, the largest cryptocurrency exchange in the world, a Financial Services Permission (FSP).

As per the license, Binance will be permitted to provide custody to professional clients if they meet the FSP’s standards as defined by the FSRA. Notably, Binance received In-Principle Approval (IPA) from the ADGM authority to operate as a broker-dealer in virtual assets in April 2022.

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