Binance has secured authorization from Abu Dhabi Global Markets (ADGM), Abu Dhabi’s special economic zone for finance, to operate under a comprehensive exchange, clearing, and brokerage framework according to a press release from Binance.
The approval breaks Binance’s business into three regulated components that mirror a traditional market stack in a traditional finance exchange.
Binance’s ADGM presence will be organized under three locally incorporated entities branded as Nest, a regulatory requirement that allows the Financial Services Regulatory Authority to supervise each function separately.
Although structured under the Nest brand, all three entities are controlled by Binance and serve as the licensed infrastructure through which Binance.com will operate in Abu Dhabi, aligning the platform with the market-structure standards regulators are pushing global exchanges to adopt.
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