Overview
- Binance has launched a regulated cryptocurrency exchange in Kazakhstan.
- The platform will offer Kazakhstani users exchange and conversion services, deposit and withdrawal of fiat, and custody of crypto assets.
- Binance obtained its license in Kazakhstan back in October 2022.
Business Model
Binance is the world’s largest cryptocurrency exchange and it launched a regulated digital asset platform in Kazakhstan. The exchange offers users a suite of services such as exchange and conversion services, deposit and withdrawal of fiat, and custody of crypto assets. Binance is also working with local regulators to advance the adoption of crypto in the country, as well as to develop a robust regulatory framework for digital assets.
Special Offers
Users can take advantage of special offers from Binance when registering on the new platform. These include $100 free upon registration plus 10% off fees on Binance Futures first month (terms apply). Users can also use this link to register at PrimeXBT and enter code CRYPTOPOTATO50 to receive up to $7000 on their deposits.
Background Information
Kazakhstan is one of many countries that have seen an uptick in regulatory turmoil regarding cryptocurrencies within the last few years. Despite this, Binance has been able to obtain a license within the country back in October 2022. This move has allowed them to launch their new regulated cryptocurrency exchange which will offer users various services ranging from exchanges to custody options.
Conclusion
Binance’s launch of a regulated cryptocurrency exchange in Kazakhstan shows how even with increasing regulatory uncertainties around cryptocurrencies, they are still able to thrive by obtaining licenses within certain jurisdictions. The platform provides users with various services including exchanges, conversions, deposits/withdrawals with fiat currencies, and crypto asset custody which are all beneficial for those who wish to engage with cryptocurrency trading activities within Kazakhstan or across borders.