Binance obtains approval to operate in Sweden

Binance has received approval from Swedish FSA to operate as a financial institution.

After several months of negotiations with the Swedish Financial Supervisory Authority (FSA), Binance Nordics AB has been granted registration as a platform to manage and trade in virtual currency. The Swedish regulator noted that this will allow the company to officially provide its services in the country.

Now the exchange will be able to provide residents of Sweden with access to a variety of services in crypto sphere and Web3, including euro deposits and withdrawals, trading, fan tokens, margin trading, Binance Earn, Binance Pool, Binance Pay and so much more.

Binance’s Head of Europe and the Middle East, Richard Teng, said that the company continues to demonstrate its commitment to cooperate with regulatory organisations to fully comply with global standards.

He also noted that Binance appreciates the FSA’s assistance throughout the application process. Binance Nordics AB has adopted the Financial Supervisory Authority’s AML policies, and also expressed its readiness to comply with the high standards of the regulator.

Sweden is the seventh country to grant Binance the right to operate on its territory. Earlier, the exchange had already received approvals from regulators of six EU members, namely Spain, France, Italy, Cyprus, Poland and Lithuania.

Nordics and Benelux Lead Roy van Krimpen said that the next step of the company will be to attract local specialists and organise crypto education in Sweden.

Upon creating a Binance account using our link, new users who have subscribed to the VipDeposits loyalty program receive benefits which include a 15% discount on the commissions for cryptocurrency transactions and individual assistance on all issues.