binance Kazakhstan launches regulated digital asset platform

In a recent announcement, Binance revealed the successful launch of its regulated digital asset platform in Kazakhstan.

binance Kazakhstan launches regulated digital asset platform

Having obtained a license from the AIFC Financial Services Authority in 2022, the renowned exchange now has the authority to provide custodial and trading services in the region. This move solidifies Binance Kazakhstan’s commitment to upholding security and compliance standards.

The official platform launch took place on June 20, with the presence of government officials, Binance Kazakhstan leadership, and representatives from the banking sector in Kazakhstan. The platform offers Kazakhstani users access to conversion and exchange services, as well as withdrawal, deposit, and custodial services for both fiat and crypto assets.

Engagement in Kazakhstan extends beyond the initial launch, as the exchange continues to collaborate with officials to introduce new products and services in the region. This level of cooperation between Binance and various banking institutions and government agencies has piqued the interest of local traders, prompting them to seek out Binance reviews to better understand the platform’s offerings and future plans.

Asset Turysov, Kazakhstan Vice Minister of Digital Development, Innovation, and Aerospace Industry, commended this development, emphasizing its significance in fostering interaction between second-tier banks, crypto exchanges, and AIFC. Regulatory bodies such as the Agency of Regulation and Development of Finance, The National Bank of Kazakhstan, and the Financial Monitoring Agency of Kazakhstan are actively involved in the project, further strengthening the partnership.