Binance said to be targeting crypto license

Felix Leitmeyer Felix Leitmeyer | 02.02.2022

The stock exchange wants to become more active in Germany and has poached a manager from the competition for this purpose, according to media reports.

Binance is the largest crypto exchange in the world - now it is also increasingly eyeing Germany. The company has already become more active in this country and even has a new European boss, whom the company poached from Israeli trading platform Etoro: According to the website Finance Forward it concerns the ex-banker Michael wild. He had previously built up Etoro's German business.

According to the source, Binance is now going even further: the company is apparently aiming for its own crypto license in Germany, according to reports from within the company. Even a crypto custody license would be part of it. The possible role model here could also be Etoro: The company had already applied for such a license last year.

However, it is still unclear whether Binance will receive the desired approval: the company is said to have had conflicts with supervisory authorities recently. For example, the German financial regulator Bafin is said to have first taken a look at an offer from Binance, which has, however, already been discontinued. In other countries, Binance has also struggled with regulations.


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