Binance Registers as Financial Service Provider in New Zealand

• Binance continues its expansion spree despite the bearish market conditions.
• The CEO has said that New Zealand is an intriguing market.

Binance has confirmed that it has completed the necessary steps to become a registered Financial Service Provider with the New Zealand Ministry of Business, Innovation, and Employment. On Thursday, “Binance New Zealand” was launched, and CEO Changpeng Zhao announced it on the exchange’s official Twitter. Binance continues its expansion spree despite the bearish market conditions.

The CEO has said that New Zealand is an intriguing market with a long history of fintech innovation. CZ added that In New Zealand, “Our team of Binancians in New Zealand are working hard to bring freedom of Crypto to Kiwis.”

Rapid Global Expansion

With each passing day, the exchange solidifies its position as the premier cryptocurrency trading platform worldwide. In addition to New Zealand, the company is trying to get its services back up and running in Japan. Several crypto mining operations have opened in New Zealand in the last year, indicating a rising interest in cryptocurrency usage in the nation. When the Ministry of Business, Innovation, and Employment finally gives Binance the green light, it will be a major step forward for the company.

On the other hand, Binance had announced that its users may now participate in a mining pool for ETHW, the split version of Ethereum that keeps the blockchain’s original proof-of-work (PoW) principles.

According to a statement released on Thursday, there will be no fee for ETHW Pool members during a promotional period that expires on October 29. It’s been two weeks since the Ethereum Merge successfully switched the blockchain over to a proof-of-stake method, making cryptocurrency miners obsolete. 

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