Summary
TLDR: Binance secures VASP license in Dubai, expanding services to retail and institutional investors. Former CEO Zhao gives up voting control for license upgrade. Current CEO Teng emphasizes commitment to regulation and growth. SAFU fund converted to USDC for stability. Binance compliance officer detained in Nigeria, with ongoing tension between the company and the country. Discussions between Binance and Nigeria unclear, with White House reportedly involved in resolution efforts.
Key Points
1. Binance has secured a virtual asset securities provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority.
2. Binance said that its Dubai arm can now offer services to the retail market, as well as expand services to both qualified and institutional investors.
3. According to a blog post, Binance FZE will now “introduce new options through its lending and borrowing services,” which will include virtual asset loans.