Building on earlier registrations in other countries, Binance’s expansion to New Zealand represents a potential turning point for the exchange.
Following a successful registration with the country’s business ministry earlier this month, Binance has expanded its operations to New Zealand.
Binance New Zealand will join other companies already using the name of the business, such as those in Australia, Italy, and most recently France.
Ben Rose, the general manager, used to work for the island nation’s CodeHQ, a software development company.
Despite the nation’s smaller domestic markets and lower population, the exchange and crypto infrastructure provider said the decision to register as a financial service provider with the Ministry of Business, Innovation and Employment made sense.
According to Binance CEO Changpeng Zhao, “a lot of big tech firms are slow to open a New Zealand office.” We see significant value in having a serious New Zealand presence, although I suppose for some it’s easy to overlook.
According to the most recent national estimates, the island nation, which is located in the South Pacific Ocean east of Australia, has a population of about 5.1 million people.
In addition, a Finder survey says that roughly 268,000 Kiwis own cryptocurrency, with a gender split of 69% men and 31% women.