Binance, the world’s leading cryptocurrency exchange, has made a significant expansion into Central Asia with the launch of a fully regulated digital asset platform in Kazakhstan. After successfully obtaining a permanent license from the AIFC Financial Services Authority (AFSA) in the previous year, Binance can now provide a comprehensive suite of services to users in Kazakhstan. These services encompass exchange and conversion facilities, as well as fiat deposits and withdrawals, along with secure custody solutions for cryptocurrencies. The company also plans to extend its range of services and the assortment of tradable assets in the future.
To commemorate the platform’s inauguration, a press event was organized on June 20, 2023, with the presence of government officials, representatives from Kazakhstan’s banking industry, and the leadership of Binance Kazakhstan. Asset Turysov, the Vice Minister of Digital Development, Innovation, and Aerospace Industry of Kazakhstan, emphasized the government’s initiative to foster collaboration between the AIFC, cryptocurrency exchanges, and second-tier banks. Notably, the project, which involves the National Bank of Kazakhstan, the Financial Monitoring Agency, and the Agency for Regulation and Development of the Financial Market, has already demonstrated promising outcomes, as stated in the press release.
Zhaslan Madiyev, the General Manager of Binance Kazakhstan, expressed appreciation for the regulators’ contributions to the advancement of the cryptocurrency industry within the country. With this development, Binance Kazakhstan users can now engage in buying and selling cryptocurrencies using fiat currency balances, spot trading, and conversions, with expectations for additional services in the future. Bank cards and transfers via Freedom Finance Bank offer convenient deposit and withdrawal options for users in Kazakhstan. Additionally, the global Binance platform will continue to be accessible to Kazakhstani users, guaranteeing uninterrupted access to its extensive array of services and wide-ranging offerings.