Binance Enters Central Asia with Launch of Local Service in Kazakhstan

Binance, which obtained a permanent license in Kazakhstan in October last year, has
launched a local trading platform in the Central Asia country. The new platform
will offer users trading and custody of digital assets, deposit and withdrawal
of fiat currencies as well as conversion services, Binance said in a blog post
published today (Wednesday).

The development comes
as Binance shrinks its presence in Europe and prepares to exit Cyprus and the Netherlands. The exchange is
also reportedly facing a money laundering
probe in France even as it battles regulators in the United States

#Binance launches a regulated platform in Kazakhstan.

This local platform will be authorized to offer exchange and conversion services, deposit and withdrawal of fiat currencies, custody of crypto assets, and exchange trading.

— Binance (@binance) June 21, 2023

Binance’s presence in
Kazakhstan marks its first presence in the Central Asia sub-region although
the world’s largest cryptocurrency exchange
Cryptocurrency Exchange

A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f

A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f
Read this Term offers support to users several countries across Asia. The exchange’s launch in
Kazakhstan comes as regulators seek to develop the country’s
cryptocurrency industry.