Binance Holdings Ltd., the world’s largest cryptocurrency exchange, announced on Tuesday it has been granted a license to operate as a crypto asset service provider in Bahrain, that allows it to operate in the country, providing services including crypto trading, custody, and portfolio management services to Bahraini customers.
According to Binance's statement, the license was the company’s first of its kind in the GCC. The regulatory green light will allow Binance to provide crypto asset trading, custodian services and portfolio management to customers, the firm added.
"The license from Bahrain is a milestone in our journey to being fully licensed and regulated around the world," said Changpeng Zhao, founder and CEO of Binance.
It's worth mentioning that the Cayman Islands-registered company was granted preliminary approval for the license in December, but was required to complete the full application process before being awarded the full license.
Following Binance's announcement, Bloomberg has reported that Binance also got a license to be the first anchor in Dubai World Trade Centre.
