Binance gets licenced in Sweden

Binance has been granted a license to operate as a financial institution in Sweden. The license was offered by the Swedish Financial Supervisory Authority (Swedish FSA) to permit the exchange to offer its services to the citizens of the European nation under the country’s financial laws and regulations.

According to Binance, a breakdown of the products that will be available to Swedes will include buying and selling crypto with EUR, spot and margin trading, staking via Binance Earn, savings, auto investment, and custody. 

Others are Binance Pay, Binance Pool, NFT marketplace, Fan Tokens, Binance Visa Card, Launchpad, Launchpool, Savings, and BNB Vault.

Binance has pursued regulatory compliance for a long time and with the acceptance given by the Swedish Financial Supervisory Authority, the exchange gains legal access to its seventh European nation and fifteenth country. Others are France, Spain, Dubai and Poland.

Binance going global

Speaking about the new license, Richard Teng, Head of Europe and MENA at Binance explained that Binance is interested in working with regulators to uphold global standards in the crypto industry. 

The Swedish acceptance is “the result of many months of diligent, hard work from our team, underpinning our commitment to the Swedish market and our users,” he added.

To make sure that the largest exchange in the world according to trading volume, meets up with the standard of Sweden, “we have been careful to ensure that Binance Nordics AB has adopted risk and AML policies,” Roy Van Krimpen, Nordic Regional Lead at Binance, noted.

He also revealed that the next step for the exchange in Sweden is to hire local talents and plan and execute events that will drive crypto education in the region.

Read also;

Binance to launch Web3 career-oriented courses in 2023 – CZ

Binance Opens “Pay” service to US users