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International Business Times
International Business Times
Business
Nica Osorio

Binance Re-Examines MENA Strategy, Withdraws Abu Dhabi License Application

Binance Abu Dhabi MENA Changpeng Zhao CZ Richard Teng

KEY POINTS

  • Binance said ADGM permitted the company to manage a collective investment fund for virtual assets of professional clients
  • It withdrew the filing on Nov. 7
  • Binance said the withdrawal decision was based on the company's global licensing needs

Binance has recalled its application for an Abu Dhabi license as the crypto exchange reexamines its strategy in the Middle East and North America (MENA) regions.

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