Last updated: 6 September 2024
Binance FZE is authorised by the Dubai Virtual Assets Regulatory Authority (“VARA”) to carry out Virtual Asset-related activities, including exchange services, and broker-dealer services, lending and borrowing services and Virtual Asset management and investment services (the “Services”), in or from the Emirate of Dubai, including its free zones, but excluding the Dubai International Financial Centre. In the provision of these Services, Binance FZE outsources certain functions to intra-group entities (“Binance Affiliate(s)”) and external third-party vendors in accordance with its outsourcing, third-party, and vendor risk management policy (“Outsourcing Policy”).
This document contains a list of the Binance Affiliates and external vendors with whom Binance FZE has entered into a written outsourcing agreement for the provision of specific functions relevant to the Services provided by Binance FZE, together with a brief description of the outsourced service/function.
Binance FZE regularly reviews and updates the list of outsourced functions contained in this document to ensure it remains up to date. Any new outsourcing arrangements will be added to this document.
Intra-group outsourcings
Please note that where the outsourcing of a function is marked as ‘internal’, this indicates that it is an intra-group outsourcing to a Binance Affiliate. You will note that Broadchains Fintech Pte. Ltd. (“BFL”) is listed as the relevant service provider for most internal outsourcings. This is because BFL is the group shared services aggregator. BFL contracts with shared services entities and the intellectual property holding companies, being (i) Binance Technology Services FZE, (ii) Inforad Technologies W.L.L, and (iii) Chaintecs Consulting Singapore Pte Ltd (together, the “IP Holdcos”) which own the IP developed by various shared services entities within the Binance group (“Tech Hubs”). BFL is therefore the relevant shared services provider under the written outsourcing agreement with Binance FZE, and all invoices related to services are settled between BFL as the shared services provider and Binance FZE. In addition, Binance FZE pays royalties to the IP Holdcos. The exception to this is Infozone Technologies Pte. Ltd (“Infozone”), which is a Binance group company providing our internal Travel Rule solution, where the services are contracted directly between Binance FZE and Infozone.
External vendors
The external vendors displayed in the document below constitute those vendors with whom Binance has entered into a written outsourcing agreement for the provision of certain functions (as described below). All these external vendors have been screened and selected in accordance with the Binance FZE Outsourcing Policy.
Binance FZE - Table of outsourced functions
