Binance, a global blockchain and cryptocurrency infrastructure provider, has announced its registration as a financial service provider with the New Zealand Ministry of Business, Innovation and Employment (MBIE), and the official launch of Binance New Zealand. The company received its registration as a financial service provider from New Zealand’s MBIE on September 10, 2022. Binance New Zealand will be led by general manager Ben Rose, and the registration allows the platform to offer financial services such as spot trading, staking, non-fungible tokens (NFTs), among others.
According to the cryptocurrency platform, the move aims to signal a moment in the expansion of New Zealand’s Web3.0 sector and an opportunity for Kiwis to trade on the exchange. New Zealand is the most recent of Binance’s global registrations, which include France, Italy, Spain, among others.
As stated by Changpeng Zhao, founder and CEO, Binance, the decision to open a New Zealand office is a strategic sense for the decentralised global firm. “We see value in having a New Zealand presence. The history of fintech innovation in New Zealand is known, with one of the earliest uptakes of digital transactions in the world. We see New Zealand as a pioneer, so from that perspective, I think there’s a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions and the web,” he added.
“This move aims to allow Kiwi cryptocurrency investors the opportunity to trade with the cryptocurrency exchange platform. This is a development for Kiwi investors and those with an interest in the future of Web3.0 here. Having the cryptocurrency business registered to operate in New Zealand not only means access to the lowest trading fees, but it also means Kiwis can expect to have access to global product and service innovations happening in this space,” Rose mentioned.