BAKU, Azerbaijan, August 16. Binance, the world’s largest crypto exchange, has received its In-Principal Approval from the Astana Financial Services Authority (AFSA) to operate a Digital Asset Trading Facility and Provide Custody in the Astana International Financial Centre (AIFC), Trend reports citing the AIFC.
AIFC is the first financial centre in the Commonwealth of Independent States (CIS) to have started working with Binance.
Binance, with its wealth of experience, technologies and opportunities will contribute to the development of the digital assets market in Kazakhstan and is going to create larger impetus for further establishing the country as the region’s cryptohub.
"Kazakhstan has shown to be a pioneer in Central Asia crypto adoption and regulation," said Changpeng Zhao (CZ), founder and CEO of Binance. “This further signifies Binance’s commitment to being a compliance-first exchange and providing products and services in a safe and well regulated environment across the globe."
In-Principal Approval is one of the steps to obtain a license in the AIFC. Upon successful finalisation of its licensing application, Binance will be able to provide its services as an operator of a Digital Asset Trading Facility and Provider of Custody in the Astana International Financial Centre.
The Astana Financial Services Authority (AFSA) is the independent regulator of the Astana International Financial Centre (AIFC), which is established in accordance with the Constitutional Law of the Republic of Kazakhstan “On the Astana International Financial Centre” for the purposes of regulating financial services and related activities in the AIFC.
AFSA administers the AIFC Regulations and Rules and is responsible for the authorisation, registration, recognition and supervision of financial firms and market institutions in the AIFC.
Binance is the world's leading cryptocurrency infrastructure provider with a range of financial products, including the largest digital asset exchange by volume.