While certain crypto businesses have suffered during the continuing crypto winter, Binance and CEO Changpeng Zhao (CZ) have been active in expanding their operations abroad. The latest move sees the crypto firm register in New Zealand and opens up a local office in the country.
Binance’s Global Expansion
The crypto giant has recently made moves in Europe and the Middle East, acquiring deals in France, Italy, Spain, and Dubai. A few months ago, we saw CZ tweeting pictures of him meeting with various African leaders. Namely, the president of the Central African Republic, who recently registered Bitcoin as an official currency.
According to an email announcement, Binance has continued to extend its reach into Oceania, registering its services with the New Zealand Ministry of Business, Innovative and Employment (MBIE) on September 10th. Not a nation closely associated with the crypto space, but often somewhere that is overlooked due to being so isolated.
The company’s CEO CZ had this to say on the move, "I guess for some, it’s easy to overlook as it’s a smaller market, but we see significant value in having a serious New Zealand presence," continuing, “We see New Zealand as a bit of a pioneer, so from that perspective, I think there’s a lot to be learned here with our local team working with Kiwis to envisage the future of currency, transactions and the web.”
Binance’s presence in New Zealand will offer Kiwis complete access to its services, helping citizens to access the fast-growing digital industry. CZ commented on customer benefits to say, “Kiwis can now access a range of financial services, including spot trading, staking, NFTs and more.”
Binance On Hiring Spree
As part of Binance’s ambition to appease the regulatory standards of authorities across the globe, the company has been hiring staff to help achieve this in nations across nearly every continent.
Most recently, the crypto firm set up a Global Advisory Board of experts to gain market share over its competitors. Binance brought in former chairman of the United States Senate Committee on Finance, Max Bacus, who will lead the board. Another US hire was the senior vice president of compliance at industry rival Kraken, who will advise on regulatory and political matters.
The firm also hired ex-French Treasury head Bruno Bézard, Barak Obama’s former political guru David Plouffe, and several other global advisors. Looking to expand into Latin America, Binance hired former Economy Minister of Brazil Henrique Meirelles to serve as Advisor to the exchange.