In May 2022, the CEO of the Binance exchange, Changpeng Zhao, visited Kazakhstan and conferred options for cooperation with the President of the Republic, Kassym-Jomart Tokayev. The crypto company expressed its readiness to help this Asian state in the formation of its own blockchain infrastructure.
This week, the exchange came as close as possible to obtaining a license that gives the right to work legally in the republic. Preliminary approval of the platform activity was received from the Astana Financial Services Authority (AFSA).
Binance will receive the status of a virtual service provider within the International Financial Center in Astana. To do this, the company is launching its own division of Binance Kazakhstan, according to the exchange's blog.
Trending: Dubai World Trade Center To Become a Crypto Hub and Regulator
The application has not yet been fully approved by the authorities, as it is necessary to complete all the procedures prescribed by law.
The leadership of Binance is simultaneously trying to gain a foothold in several markets. The work of the exchange on its territory has already been approved by the authorities of Dubai (United Arab Emirates), Spain, and France.