Binance has registered with the Ministry of Business, Innovation and Employment of New Zealand (MBIE), which allowed it to become a licensed provider of virtual asset services in the country.
The CEO of the Binance cryptocurrency exchange Changpeng Zhao called New Zealand an "exciting market" because it accounts for at least 1 million users out of 320 million global cryptocurrency owners.
"New Zealand is an exciting market with a rich history of fintech innovation. Our team intends to create conditions for the most convenient work with cryptocurrencies," Changpeng Zhao said.
Binance will open its representative office in New Zealand. According to the MBIE license, spot trading operations, including NFT, as well as staking, will be available to New Zealand clients of the exchange.
Earlier this month, Binance received a permanent license for a Minimum viable product (MVP) from the Dubai Virtual Asset Regulatory Authority (VARA).