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Binance to Expand Into Sweden With New Crypto Trading License

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Cointime Staff:  Sweden now becomes the seventh EU member state to grant Binance an operating license after France, Italy, Spain, Cyprus, Lithuania, and Poland issued it with similar authorizations within the past two years. Furthermore, following today’s announcement, Binance now boasts 15 operating licenses and registrations globally.  

Swedish FSA grants Binance seventh regulatory approval in EU

Main Takeaways

  • Binance granted registration by the Swedish Financial Supervisory Authority on January 10, 2023.
  • Binance now authorised in seven EU Member States and fifteen jurisdictions worldwide.

Binance is pleased to announce that Binance Nordics AB has been granted registration as a financial institution for management and trading in virtual currency by the Swedish Financial Supervisory Authority (Swedish FSA). 

This follows months of constructive engagement with the regulator. Binance Nordics AB holds registration number 66822.

As the world’s largest digital asset exchange, this registration means that Swedish residents will now be able to access Binance’s broad range of crypto and Web3 services, including popular euro deposits and withdrawals, crypto buying with euro, trading, staking and the Binance Visa Card*. 

Sweden becomes the seventh EU Member State in which Binance has been granted authorisation, following authorisations in: France, Italy, Lithuania, Spain, Cyprus and Poland. Details of these, and other global authorisations it has achieved around the world can be found here: Licenses, Registrations and Other Legal Matters 

Richard Teng, Head of Europe and MENA at Binance, commented: “Binance continues to demonstrate its commitment to work closely with regulatory agencies to uphold global standards. Our registration in Sweden is the result of many months of diligent, hard work from our team, underpinning our commitment to the Swedish market and our users. We are deeply grateful for the support from the Swedish Financial Supervisory Authority throughout the application process and for the approval. Sweden is now amongst the growing list of global jurisdictions that have granted regulatory approval to Binance.”

Roy van Krimpen, Nordics and Benelux Lead, added: “Sweden fully adopts EU laws and has further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted risk and AML policies to match this exacting standard. Our next big task will be the successful migration and launch of local operations, including hiring of local talent, organizing more events and delivering more crypto education in Sweden.”

*Products available to Swedish users will include: Crypto buy/sell with EUR, spot trading, margin trading, staking through Binance Earn, Binance Pay, Binance Pool, NFT marketplace, fan tokens, Binance Visa Card, crypto convert function, Launchpad, Launchpool, Savings, BNB Vault, auto-invest and Custody. 

https://www.binance.com/en/blog/ecosystem/swedish-fsa-grants-binance-seventh-regulatory-approval-in-eu-1385399034980621164

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