The leading crypto exchange in terms of trading volumes, Binance, has received a license in Sweden.
Binance hopes that the license will help it develop a website in the Scandinanvian country in order to interact straight with the local consumer market.
The FSA (Sweden’s Financial Supervisory Authority) allowed Binance to receive the registration. Including Sweden, the crypto exchange has now 7 licenses to operate in the EU. For some time, Binance focused to grow its worldwide presence and currently has digital asset service provider licenses in 15 countries around the world.
According to a recent Binance blog post, the company stated that Sweden’s residents can now benefit from the Web3 and crypto services provided by the crypto exchange. Binance continued to say that the license approval process was made possible after collaborating with the FSA.
Among the services Binance offers to the Swedish, we mention EUR withdrawals and deposits, crypto purchases with EUR, staking, trading, and the card made in partnership with Visa. According to the Binance head of Europe and MENA, the latest development proves that the crypto exchange wishes to collaborate with regulators and meet worldwide standards. He also stated that Sweden is the latest jurisdiction that grants the company approval.
The company’s lead for Benelux and the Nordics declared that Sweden respects European Union-issued laws and has implemented policies for AML and risk management. Currently, Binance works on launching its services in Sweden, holding events, hiring local talent, and providing cryptocurrency education.