Binance launches licensed platform in Kazakhstan
Binance, the world’s largest crypto exchange, has launched a local platform in Kazakhstan based on the Astana International Financial Centre, according to a press release from the AIFC. At the time of launch, users will be able to buy and sell cryptocurrencies, as well as engage in spot trading and conversion.
Due to the regulator of Kazakhstan’s requirements, some Binance services may not work at the moment or may have limitations on usage. Binance previously obtained a licence from the AIFC committee to provide crypto services in the country. Now the platform offers crypto and fiat-focused services, including exchange and conversion services, deposit and withdrawal of fiat, and custody of crypto assets.
Clients can top up their accounts and withdraw funds with bank cards or bank transfer via Freedom Finance. The limit on deposits via bank cards is 420 thousand Kazakhstani tenge per operation.
Citizens of other countries will also be able to use the platform if they have a Mastercard card from a Kazakh bank and a Kazakh tax reference.
At the outset, more than 20 digital assets will be available on the platform, but by the end of the year it is planned to increase their number to 100. This was announced by Zhaslan Madiyev. the head of Binance Kazakhstan. Now the platform will work only for private persons, but later it will become available for enterprise clients. It is also planned to serve foreign clients in the future.
Kazakh users can still use Binance’s global platform. They will need a different email address to register on the local platform.
At the end of last year, Binance launched the country’s largest educational program on blockchain.