Binance plans regional payment hub for Central Asia, CIS and Eastern Europe
Ulviyya Poladova
Read moreKazakhstan’s National Bank and Binance Investments Co. have signed a memorandum of understanding to explore the development of a regional settlement hub for the Binance Group in Kazakhstan.
The planned hub will focus on international payments and money transfers, as well as transactions involving digital assets. It is expected to serve Binance’s global clients in Central Asia, the CIS and Eastern Europe.
The signing ceremony was attended by National Bank Chairman Timur Suleimenov and Binance founder Changpeng Zhao.
As part of the project, Binance plans to establish a local group entity in Kazakhstan and develop the necessary infrastructure. The organization is expected to obtain a National Bank license to operate as a first-category payment organization.
The project is expected to transfer part of Binance Group's regional operations to Kazakhstan and enable a significant portion of clients in the region to be served through the Kazakh jurisdiction.
Binance is one of the world’s largest cryptocurrency platforms, allowing users to buy, sell, exchange and transfer digital assets.
Image: Dado Ruvic / Reuters
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!