Targeting Korea, UAE, and Beyond

The world’s leading cryptocurrency exchange, Binance, is on a mission to expand its empire. From bustling Asian metropolises to the sun-drenched shores of the Middle East, Binance is strategizing its global takeover. Vishal Sacheendran, Binance’s Regional Market Manager, paints a picture of a company eager to establish branches across the globe, weaving a web of influence that stretches from Asia to Europe and even dips its toes into the African continent.

Important Markets for Binance

Binance is particularly keen to enter the Korean market. Last year, the exchange acquired Gopax, a virtual asset exchange in Korea. However, due to the demands of financial authorities, Binance has been reducing its stake in Gopax. Despite these challenges, Sacheendran reiterated that Korea remains a very important market for Binance.

The Middle East, particularly the United Arab Emirates (UAE), has emerged as a haven for Binance’s expansion. Unlike some regions with restrictive policies, the UAE welcomes investment in new technologies and embraces the potential of blockchain. Sacheendran commends the UAE government’s swift action in establishing crypto-friendly policies, creating a fertile ground for Binance to flourish.

The Asia-Pacific region, in general, also holds significant weight in the crypto market, so Binance is working on establishing branches in key countries in this region, too. However, the process involves multiple stakeholders, and according to the Regional Market Manager, it will take time to see how communications progress.

Decentralization with a Centralized Twist

While a branch-based structure might seem to contradict the principles of decentralization, a core tenet of the cryptocurrency world, Sacheendran assures users that this doesn’t signal the end of a central headquarters. Binance remains committed to revealing the location of its headquarters, but they’re in no rush to do so. Their focus, for now, lies in building a robust global network.

Building a Crypto Ecosystem

Binance’s vision extends far beyond simply running an exchange. They are actively building a comprehensive ecosystem in various regions, encompassing educational projects and charitable organizations. This multi-pronged approach fosters wider crypto adoption and creates a more sustainable crypto environment.

A Bittersweet Milestone

Meanwhile, Binance’s founder and former CEO, Changpeng “CZ” Zhao, started his four-month prison term in California last week just as Binance Coin (BNB) broke its all-time high and the exchange hit a 200 million active user milestone.

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