A warm spot in the far north? – While the exchanges do not have the upper hand after the FTX cataclysm, however, this does not seem to stop Binance. The mammoth cryptocurrency continues his mad epic in search of new territories also in northern Europe. In Sweden, more precisely. decryption.
Binance heads north to Sweden
Sweden is where Binance now plants its flag. BinanceNordic AB it has just been registered with the Swedish Financial Authority (Swedish Financial Supervisory Authority, FSA). A registration as a financial institution for the management and trading of cryptocurrencies. Of course, Swedish residents can now access all services offered by Binance. Namely deposits and withdrawals in euros, buying cryptocurrencies, trading, staking services and of course the Binance bank card.
Indeed, Sweden becomes on 7th Countries of the European Union to assign this type of status to Binance, after France, Italy, Lithuania, Spain, Cyprus and Poland.
“Binance continues to demonstrate its willingness to engage with regulatory agencies to meet global standards. This recording in Sweden is the culmination of many months of hard work by our teams. »
Richard Teng, Head of Europe and MENA (Middle East and North Africa) at Binance
Not long ago, we learned that the world’s 1ʳᵉ crypto platform was at a standstill in the sights of the American regulator. However, this sword of Damocles doesn’t seem to bother Binance’s planetary conquest of him. The company has set foot in Europe and intends to stay there.
“Sweden has fully adopted the laws of the Eurozone and also has other local requirements. We have therefore ensured that Binance Nordics AB takes these standards into account in terms of risk policy and the fight against money laundering. »
Roy van Krimpen, Head of Benelux and Nordics at Binance
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Exchange, a boost to the democratization of cryptocurrencies
Are exchanges an essential step for the democratization of cryptocurrencies within a country? In this period when these I am not in the odor of holiness, the question might be asked. In these troubled times, we would even tend to advance without failing that the DEX (decentralized exchange) better offer, safer. And that is certainly true to some extent.
However, the problem of their accessibility to the general public and novices still needs to be overcome. Because the key is simplicity. The fact is that it is, alas, very often in the second stage that security comes to the eyes of the uninitiated. The day the purchase of cryptocurrencies is done in fewer steps on a DEX than on Binance, DeFi will have won. And users with.
Furthermore, all these centralized entities also act as the engine of an education provided to the population on these new cryptocurrency concepts.
“Our next step will be to carry out our migration and launch of our operations [en Suède] a success. This will include hiring local talent, organizing events and educating about cryptocurrency topics in Sweden. »
Roy van Krimpen, Head of Benelux and Nordics at Binance
Binance continues its successful journey around the world. The giant, now devoid of adversaries for its bulk, remains the sole master on board an inevitable democratization. Whether this can be done despite the remains to be seen potential regulatory barriers under construction in Europe and France.
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