Binance, a leading global blockchain and crypto infrastructure provider, has received a permanent license from the Financial Services Authority (AFSA) of the Astana International Financial Center (AIFC) in Kazakhstan to operate as a digital asset platform and provide custody services in the AIFC.
Binance had previously received the agency’s in-principle approval, which required Binance to complete a full application process to secure permanent authorization.
The permanent license represents Binance’s regulated platform in Kazakhstan and demonstrates Binance’s strong compliance and security. The Binance platform will be authorized to provide digital asset trading and conversion services, fiat currency deposits and withdrawals, cryptocurrency custody and exchange trading.
Kazakh individuals and legal entities, regardless of their country of residence, can register online. The range of services available on the Binance platform is expected to increase over time.
“We are excited to see Kazakhstan’s efforts to become a leader in the new digital technology and cryptocurrency ecosystem,” said Gleb Kostarev, Head of Asia at Binance. “The government has made significant changes to the legislation and regulatory environment to set the highest compliance standards for cryptocurrency platforms. We are proud that Binance has taken another step towards becoming a compliance-focused exchange.”
The Financial Services Regulatory Commission of the Astana International Financial Centre is the independent regulator of the financial centre and the only body overseeing digital asset-related activities in Kazakhstan. AFSA’s strong regulatory framework will help AIFC become a leading platform for the development of digital asset-related services in the region.