Binance has been proudly nomadic for years. A new announcement suggests it’s finally chosen a headquarters
For years, Binance has dodged questions about where it plans to establish a corporate headquarters. On Monday, the world’s largest crypto exchange made an announcement that indicates it has chosen a location: Abu Dhabi, the capital of the United Arab Emirates.
In its announcement, Binance reported that it has secured three global financial licenses within Abu Dhabi Global Market, a special economic zone inside the Emirati city. The licenses regulate three different prongs of the exchange’s business: its exchange, clearinghouse, and broker-dealer services. The three regulated entities are named Nest Exchange Ltd., Nest Clearing and Custody Ltd., and Nest Trading Ltd., respectively.
Richard Teng, co-CEO of Binance, declined to say whether Abu Dhabi is now Binance’s global headquarters. “But for all intents and purposes, if you look at the regulatory sphere, I think the global regulators are more concerned of where we are regulated on a global basis,” he said, adding that Abu Dhabi Global Market is where his crypto exchange’s “global platform” will be governed.
A company spokesperson declined to add more to Teng’s comments, but did not deny Fortune’s assertion that Binance appears to have chosen Abu Dhabi as its headquarters.
