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Binance Registers in New Zealand and Opens Local Office

Cryptocurrency exchange Binance has registered as a financial service provider in New Zealand and launched Binance New Zealand, according to an emailed announcement.

  • The registration was made with New Zealand's Ministry of Business, Innovation and Employment (MBIE) on Sept. 10 and comes after similar recent moves toward global expansion in France, Italy and Spain, among others.

  • "I guess for some it’s easy to overlook as it’s a smaller market but we see significant value in having a serious New Zealand presence," said Binance founder Changpeng Zhao. “We see New Zealand as a bit of 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.”

  • Kiwis can now access a range of financial services, including spot trading, staking, non-fungible tokens (NFT) and more, the announcement said.

  • Apart from moves toward global expansion, Binance has been making significant hires including the senior vice president of compliance from rival Kraken, and forming a board to advise it on regulatory and political matters.

  • New Zealand's MBIE didn't immediately return a request for comment.

Read More: Binance Hires Big-Name Former Government Officials to Set Up Advisory Board