Binance, the world’s largest exchange by trading volume, continues to expand in Europe, while establishing its seventh unit in Ireland.
While the crypto exchange Binance wanted to expand its roots in Europe, this move was interpreted as a positive step for Binance to be permanent in Europe.
Binance Continues to Expand in Ireland
Cryptocurrency exchange Binance has set up its seventh unit in Ireland as it seeks to increase its presence in Europe. Binance Global Sourcing was launched last week, according to information from the Corporations Registrar’s Office (CRO), a public repository of legal information on Irish companies. According to CRO records, Binance had previously set up 6 units in Ireland.
The news comes after Binance chose Paris as its European headquarters after France’s financial regulator granted Binance a license in May to offer and market its services to local customers.
Last year, Binance considered Ireland as part of its plans to set up a series of worldwide headquarters to break its decentralized nature and improve relations with regulators. It is not yet clear what the primary purpose of Binance’s Irish presence is.
Binance’s move comes after Binance rival Gemini obtained a license in the country last month. The US-based exchange operator said it was the first crypto company to register in Ireland at the time.
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