Binance doubles down on APAC, plans 5 new licenses this year to expand global footprint
Binance plans to secure five new Asian licenses this year to expand its global regulatory footprint beyond 20 jurisdictions.Summary
Binance is intensifying its focus on the Asia-Pacific (APAC) region, with its regional head, SB Seker, announcing plans to obtain five new licenses in Asia this year, which will increase the exchange's global regulatory approvals to over 20 jurisdictions. The company already holds approvals in several APAC countries, including Australia, Japan, and Thailand, and expects to add South Korea following its acquisition of Gopax. This licensing push is part of a broader strategy to enhance compliance in key markets and grow its user base, capitalizing on APAC's leading growth among global regions. Despite exiting direct retail services in Singapore in 2021, Binance continues to serve institutional clients there and views the market as potentially interesting. Furthermore, Seker addressed recent allegations regarding illicit funds, stating the claims lacked evidence and emphasizing Binance's commitment to strict KYC and compliance, supported by a compliance team that has grown by 30% annually to nearly 1,500 professionals.
(Source：Crypto Briefing)