Binance – the leading and the largest cryptocurrency exchange in the world, has been deeply driven in expanding its market. On that note, the the CEO of Binance, Changpeng Zhao (CZ) is very much eager in extending the company in all parts of the world.
Recently, CZ stated, “Binance is not shunned elsewhere” and that there’s “more to come.” Thus, Binance still leads as the top crypto exchange in the U.S markets till date.
At present, as CZ is streamlining the market expansion, he initiates a serious discussion with the Philippine officials. Further the main reason for the discussion is to get the legal license to operate in the country. Therefore,prior to the plans escalated by CZ, we can expect Biannce operations in the Philippines soon.
Binance Targets Philippine Market
The term crypto adoption is becoming the recent talk of the town. The year 2022 is witnessing a great response for adopting digital currencies by many financial institutional firms. However, as per the record, crypto adoptions bring in innovations and await to hit major milestones.
Moreover, the main reason behind CZ’s idea to expand in the Philippine market is to target the booming crypto projects in Southeast Asia. In addition, there are many leading blockchain projects which are also rising up in the region. Thus, Binance smartly plans to invest and be part of major crypto and web3 companies through Binance Labs.
Furthermore, CZ discusses with the Philippines officials to provide Virtual Asset Service Provider (VASP) and Electronic Money Issuer (EMI) licenses for the country. More so, he requests the authorities to support in financial areas for the growth of the market.
Significantly, these licenses help the exchange to get regulatory support to provide crypto and blockchain services in the country. Thus, being an authorized exchange, investors, companies, businesses can trust the company by all means.
Additionally, In recent months, Binance exchange entered prominent markets like Dubai, Italy, Bahrain and France. However, as crypto adoptions rise, Binance will continue to target large profitable markets. This in-turn will boost the value of cryptocurrencies and the market, vice versa.
Further, getting the approval and proper license, investors, users and financial companies can explore the world of Binance.
Source: https://thenewscrypto.com/binance-to-operate-in-philippines-cz-discourses-for-authorized-license/