Binance has been successfully registered as a financial service provider in New Zealand.
Together with the New Zealand Ministry of Business, Innovation and Employment (MBIE) the exchange has officially launched ‘Binance New Zealand’.
The move signals a significant moment in the expansion of New Zealand’s burgeoning Web3 sector, and an opportunity for Kiwis to trade on the exchange. New Zealand is the most recent of Binance’s global registrations, which include France, Italy, and Spain, among others.
Binance founder and CEO, Changpeng ‘CZ’ Zhao – described the decision to open a New Zealand office as making strategic sense.
“A lot of major tech firms are slow to open a New Zealand office. I guess for some, it’s easy to overlook as it’s a smaller market but we see significant value in having a serious New Zealand presence,” he said.
“The history of fintech innovation in New Zealand is very well known, with one of the earliest and most rapid uptakes of digital transactions in the world.
“We see New Zealand as a bit of a pioneer, so from that perspective, I think there’s a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions and the web.”
Binance New Zealand will be led by general manager Ben Rose, who most recently served as the Chief Commercial Officer of the leading New Zealand software development firm, CodeHQ.
“This is an exciting development for Kiwi investors and those with an interest in the future of Web3 here,” he said.
“Having the world’s leading crypto business registered to operate in New Zealand not only means access to the lowest trading fees, but it also means Kiwis can expect to have access to many exciting global product and service innovations happening in this space.”
Binance received its registration as a financial service provider from New Zealand’s MBIE on September 10, 2022. This registration allows Binance NZ to offer a range of financial services, including spot trading, staking, NFTs and more. Kiwis who wish to trade on Binance can head to binance.com/en-NZ to register for an account and set up their own Binance wallet.