The first cryptocurrency exchange by volume, Binance secured a new presence in Europe by accessing the fourth largest market in the Eurozone.
According to a new press release, the Bank of Spain recently approved Binance subsidiary Moon Tech Spain as a Virtual Asset Service Provider (VASP).
Binance can now offer exchange and custody services in the country.
Kim Geralt, director of Binance Spain, said that the company plans to significantly expand its operations across the country.
“Following this list, we will significantly expand our team and operations in Spain to make our services more accessible to everyone. Over the next few years, we will be recruiting local talent to serve the Spanish-speaking market and help grow the local crypto ecosystem.. “
The Spanish registration follows the regulatory approval of Binance in France and Italy in May.
The exchange continued to expand its operations despite the bearish cryptocurrency market. Changpeng Zhao, CEO of Binance, said in late June that the company is currently studying 50-100 new transactions.
“In fact, we see a lot of opportunities in the market. So we are working on increasing our hiring, increasing [merger and acquisition] Activities, we plan to reduce fees on our platforms to make it easier for our users during this time.
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