Popular cryptocurrency exchange, Binance has secured its local presence in Poland. The exchange announced the development in a blog post on Wednesday. As announced, it will operate in the European country with full compliance to existing regulatory framework.
The exchange further revealed its intention to continuously offer users the best and safest experience. According to Binance, all its services in Poland aligns with the standards slated for all virtual asset service providers in the country. Occasioned by this development, users within the country must sign new terms and conditions to continuously enjoy Binance services.
Binance head of Ukraine and Eastern Europe, Kyrylo Khomiakov reacted to the development. According to Khomiakov, the crypto industry requires effective and appropriate regulations to aid mainstream adoption of digital assets. He further that Binance believes a stable regulatory environment can support innovation and help build trust in the industry.
Meanwhile, Khomiakov affirms the commitment of Binance to ensuring that customers get satisfaction while also complying with local regulations. Additionally, he revealed the intent of the exchange to continuously improve its security systems and adhere to the strictest KYC requirements to enhance the safety of its customers.
Also, Binance Country Manager for Poland, Katarzyna Wabik reacted to the development. According to Wabik, the exchange fully complies with Polish standards for VASPs. He confirmed plans by the exchange to aid users’ migration to Polish entity and development of local operations. The manager also announced that Binance is looking out for talent to help strengthen its regional presence, organize more events and deliver crypto education in Poland.
Binance thriving in its journey for global expansion
Despite the prevailing crypto winter, Binance has continued to thrive in its quest to cement global expansion in 2022. Recall that a few days ago, it secured regulatory approval from Swedish Financial Supervisory Authority (Swedish FSA). With the approval, the exchange is expected to provide digital asset-related services such as management and trading in digital currencies within the Scandinavian nation.
Notably, the Sweden license marks its seventh regulatory license obtained from European Union. The license enables Binance to provide Sweden residents with a wide range of its regulated crypto and Web3 services. As of press time, the exchange has obtained regulatory approval across countries including Spain, France, Abu Dhabi, and others. Meanwhile, it hopes to continue to secure more regulatory approvals in the future.