Crypto trading platform Binance said that its subsidiary has secured registration as a Virtual Asset Services Provider (VASP) from the Bank of Spain.
Changpeng Zhao, CEO and founder of Binance / Photo credit: MX Global
The registration, which was granted to Moon Tech Spain, will allow Binance to offer crypto asset exchange and custody services in the country.
“Following this registration, we will significantly expand our team and operations in Spain to make our services more accessible to everyone. Over the coming years, we will be hiring local talent to serve the Spanish-speaking market and helping to grow the local crypto ecosystem,” Quim Giralt, director of Binance Spain, said in a statement.
This marks the third registration that Binance has received in Europe, following those in France and Italy.
As part of its expansion efforts elsewhere, Binance had formed a joint venture with Thai power firm Gulf Energy Development to seek a digital asset exchange license in Thailand in April. The crypto platform also got a virtual asset license in Dubai in March.
Binance’s commitment to compliance also saw the appointment of Steven McWhirter as its first director for regulatory policy earlier this year.
See also: The tech mogul backing Binance’s Malaysia breakthrough
Editing by Miguel Cordon and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
