Binance Expands in Uzbekistan with Local Currency Deposits and Withdrawals — TradingView News
Binance has obtained a license to operate in Uzbekistan through a partnership with COINPAY LLC. This collaboration allows Binance to use COINPAY’s official platform, Coinpay.uz, to provide services in the country.
Binance is improving services by supporting the local currency
Kirilo Khomyakov, Binance, Source: LinkedIn
With this step, users can now make deposits and withdrawals in Uzbek currency through local payment systems. This increases the accessibility of Binance services for the local market.
Binance’s commitment to local regulations aims to create a safe and compliant environment for the growth of blockchain and cryptocurrencies.
“This important achievement underscores Binance’s commitment to working closely with local authorities to promote a regulated and innovative environment for cryptocurrencies,” said Kirilo Khomyakov, Binance’s regional head for Central and Eastern Europe, Central Asia and Africa.
“We are excited to contribute to the growth of cryptocurrencies in Uzbekistan and their integration into the global economy,” Khomyakov added.
#Binance Now able to provide services to the people of Uzbekistan! 🇺🇿
This achievement comes after an agreement with the National Agency for Promising Projects (NAPP) of the Republic of Uzbekistan. It underscores our commitment to regulatory compliance and promoting a safe environment… pic.twitter.com/cszKUrNAaX
The Binance-NAPP partnership strengthens cryptocurrency regulation in Uzbekistan
Binance and the National Agency for Perspective Projects (NAPP) will work together to support the growth of the country’s crypto-asset sector. This partnership strengthens Uzbekistan’s regulatory framework, ensuring safe cryptocurrency trading while positioning the country as a hub for blockchain technology innovation.
NAPP regulates the cryptocurrency, capital markets, insurance and e-commerce sectors in Uzbekistan. NAPP works to create a competitive market that protects investors and drives economic growth.
Binance expands into Brazil through acquisition
Meanwhile, Binance has expanded its presence in Brazil after receiving regulatory approval to acquire Sim;paul, a licensed broker and dealer in the country. This acquisition marks Binance’s 21st global regulatory license as cryptocurrency adoption grows in Latin America’s largest economy, Finance Magnates reported.
#Binance It reached global regulatory milestone No. 21 after the Brazilian Central Bank approved the acquisition of a licensed broker-dealer in Latin America’s most populous country.
This achievement underscores our commitment to compliance and regulatory excellence… pic.twitter.com/qx0GPyBjrD
With the approval, Binance becomes one of the cryptocurrency exchanges licensed as a broker-dealer in Brazil, a country that ranks 10th in global cryptocurrency adoption according to Chaina Analysis.
The Brazilian Central Bank’s approval of the acquisition of Binance brings the company into compliance with the country’s evolving regulatory framework. Sim;paul’s existing licenses to distribute securities and issue e-money will allow Binance to expand its offerings while maintaining compliance with local regulations.
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