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Binance Australia ESG update

2022-08-31

Binance Australia, the world’s first digital currency exchange to commence reporting on Environmental, Social, and Governance (ESG) metrics under a universal framework developed by the World Economic Forum (WEF), provides an update on the June quarter of progress on ESG initiatives.  

Binance Australia is a fully compliant and progressive Australian fintech brand that empowers customers and corporate institutions to access alternative, low-cost digital assets and products. We are on a mission to make a positive impact on society by helping Australians achieve greater financial freedom and addressing important factors facing humanity, including ESG.

“There are numerous highlights for our second ESG update with Socialsuite, including; the continued tree planting initiatives with Koala Clancy Foundation, local community support as sponsor of the Sydney Film Festival and all important crypto education activities on crypto tax.” said Leigh Travers, Chief Executive Officer of Binance Australia.

Binance Australia was pleased to be the official On-Screen Advertising partner of the Sydney Film Festival. This funding was directed toward the support and teams required to host events of this scale in Sydney. The reach of the partnership was estimated to be over 2 million in foot traffic and online audience. 

The Binance Charitable Foundation (Binance.Charity) was delighted to continue the Koala Clancy Foundation (KCF) relationship with more than AU$40,000 contributed via a direct donation over the quarter. 

While the recent growth of the Binance Australia team didn’t exceed previous quarters, we retained 85% of staff as well as welcomed additions to our marketing and finance departments. Through this effort, the team maintained a gender diversity rate of around 40%.

Research and development activities focused on two distinct areas; crypto adoption and protecting users. On adoption, crypto utility with payment services firms continued to progress positively, with a goal of securing crypto cards and utilising crypto for payments under Binance Pay. Research into user groups that saw a higher statistical occurrence of financial crime will see the implementation of a stringent and user focused onboarding experience for those users in the coming quarter. 

From a governance and regulatory perspective, Binance Australia delivered a well-considered recommendation to Treasury on licensing and custody requirements for crypto-asset exchanges as part of our commitment in collaborating with policymakers and regulators to contribute to developing a regulatory framework with consumer protection and market integrity at its heart. 

Binance Australia Derivatives was launched in early July, which marks a significant milestone with the company operating under an AFSL. During the quarter, members of the Binance Australia team supported activities including the building and maintenance of a risk register, complaint handling procedure and other policies associated with operating as a responsible licensed entity. 

Finally, collaborative efforts with leading formal education providers was a key activity of the reporting period which Binance Australia expects to turn into material partnerships in the near term with exciting developments to wider access to web3 education. 

To read more about our ESG reporting metrics please find our Socialsuite page here.

About Binance Australia 

Binance Australia is a fully compliant and progressive Australian fintech brand that empowers customers and corporate institutions to access alternative, low-cost digital assets and products.

We are on a mission to make a positive impact on society by helping Australians achieve greater financial freedom and addressing important factors facing humanity.

For more information, visit: https://www.binance.com/en-AU/