Exciting news for crypto enthusiasts! Binance will be open for business in Dubai, Bahrain as early as June, marking a significant expansion for the world's leading digital asset exchange. Binance Holdings Ltd. has received licenses to be a crypto service provider in Dubai and Bahrain, a key milestone as it sets its sights on becoming a major player in the Middle East and North Africa.

Binance said it has been granted licenses in Dubai and Bahrain, which will allow it to operate in both countries and provide services that include crypto trading, custody, and portfolio management. These licenses represent a crucial step in Binance's mission to offer its services to a broader audience.

Binance said the cryptoasset licence, the first such permit issued by Bahrain, would allow the company to provide cryptoasset trading, custodial services. This move underscores Bahrain's commitment to fostering innovation in the digital asset space. Binance Holdings received in-principle approval from Bahrain’s central bank to be a crypto-asset service provider in the kingdom, according to a statement from the company.

The exchange is actively preparing for its launch. The exchange is working with local banks and recruiting country managers and compliance officers in Dubai and in Bahrain, with the service expected to launch as early as June. More recently, Richard Teng, regional head of the Middle East and North Africa sector revealed the company's progress in establishing its presence in the region.

Stay tuned for further updates as Binance will be open for business in Dubai, Bahrain as early as June, promising enhanced access to crypto services in the region!