Binance has obtained a license to operate in Sweden, according to an announcement made by the cryptocurrency exchange on December 18, 2018. January 11th.
Binance Registration in Sweden
Today’s announcement confirms that the Swedish Financial Supervisory Authority (FSA) has registered Binance Nordics AB as a financial institution.
This development will allow users in Sweden to fully utilize Binance’s popular features such as cryptocurrency trading and euro deposits and withdrawals.
Swedish users will also be able to access Binance Pay and Binance’s Visa card. This will allow users to use virtual currency on their accounts at various merchants.
Additionally, Swedish users will be able to access various staking, mining and custody features on Binance. Meanwhile, new projects will be able to use the company’s startup programs, Launchpad and Launchpool.
Sweden is the seventh EU member country that Binance has expanded to. In particular, it will launch in France in May 2022 and is also licensed in Italy, Lithuania, Spain, Cyprus and Poland. The company is currently licensed in 15 jurisdictions (or 14, excluding Sweden) and serves users in over 140 countries.
Binance has not disclosed when users in Sweden will be able to see the effect of their registration. However, an executive said:Successful Migration and Start of Local Operations” I will come next. The company also plans to hire local employees in Sweden.
Binance plans to hire spooky people
The news of Binance’s northward expansion comes alongside reports that the company intends to expand its team with upcoming mass hiring.
CNBC reported today Binance plans to increase its workforce from 15% to 30% in 2023, increasing the number of employees from 3,000 to around 8,000. CEO Changpeng Zhao announced the plans at a conference in Switzerland. Zhao further explained that Binance wants to grow in preparation for the next bull market.
In contrast, some competing exchanges are making cuts due to the tough cryptocurrency market. announced that he would be laid off.
Binance is currently the largest exchange by trading volume, processing $7 billion in cryptocurrency transactions in the last 24 hours. Because of its superiority, even if your competitors are paying attention, they may be willing to adopt you.