Popular crypto ecosystem Binance revealed having signed an agreement document with the world's leading business event center venue DWTC.
Related: Binance Singapore Will Be Closed, CZ Clarifies the Reasons
The news comes a day later after the Dubai government revealed the DWTC becomes a place and regulator for virtual assets and cryptos.Binance CEO Chaopeng Zhang (CZ) shared the information on his Twitter account. The signed paper says that Binance will help to make progress in the process of setting up a new multinational Virtual Asset hub in Dubai and achieve long-term evolution of the economy via digital transformation.
CZ said he is grateful that the DWTCA trusted Binance. He added that the company shares the view of the future economy’s boosting the crypto and blockchain sector. According to CZ, although the industry is in early stages of adoption, Binance will provide its expertise to help Dubai to create regulatory rules that fit the fast-growing nature of digital currencies. In the written statement, the
Binance Team says the deal aims to help cryptocurrency platforms and other businesses to acquire licenses in Dubai. For this purpose, the protocol will share its experience in working with regulators of various countries.
Earlier, CZ bought a home in crypto-friendly Dubai. During an interview with Bloomberg, he said that he showed Binance's commitment to Dubai with the purchase. CZ said that the Dubai government is progressive and provides a very good business environment.
Also, a few days ago, Bloomberg reported that Binance was holding discussions with UAE authorities to have headquarters in Dubai.