Binance Establish Global Advisory Board to Propel Web3.0

The Chinese-Canadian Chief Executive Officer of Binance Changpeng Zhao announced the inauguration of a consulting group dubbed Binance Global Advisory Board (GAB).

According to CZ as he is popularly identified, GAB constitutes twelve members from across the globe including himself. The CEO acknowledges the fact that Web3.0, cryptocurrencies, and blockchain technology, in general, are making headway at a very fast rate.

Defining the purpose of the advisory board, Zhao noted that many countries and economies are gradually bracing up for the advancement in the crypto and blockchain industry, therefore, GAB aims to create a clear trajectory for running in tandem with the market trend.

Binance intends to leverage the vast knowledge that the world leaders on the GAB team possess including their diverse experience and background to eventually navigate through the ever-advancing industry.

Changpeng Zhao spoke about the launch of GAB as a solution to the fast-approaching mass adoption of cryptocurrency. 

“While we have doubled down our focus on regulatory compliance and transparency, we want to ensure that Binance is continuously drawing on its strategic counsel of experts,” the CEO said.

Binance Taps Nigerian Leader as Member of GAB

Former Chairman of First Bank Nigeria (FBN) Ibukun Awosika was part of the leaders who were recently tapped to join the Binance advisory board. Born in Nigeria, Awosika who sits on the board of many prominent organizations including the Nigeria Advisory Board is the founder of the Chair Centre Group. 

Awosika who is equally an author of several books is also a member of the G7 International Task Force for impact investing. Expressing her excitement, she said, “I am proud to play a role as a member of its Global advisory board and to be a part of truly transforming the web3 economy.”

“We understand that licenses and regulations will require much conversation and compromise, but the trajectory is clear, more and more countries want to find a positive path forward,” Zhao said

In light of this, Binance recently bagged a Minimal Viable Product (MVP) from the Dubai regulator, Virtual Asset Regulatory Authority (VARA). This was after several months of receiving a provisional license from the same entity.

Also, Binance holds a license from the Bank of Spain to operate as a Virtual Assets Service Provider (VASP) in the country. The license was obtained through its Spanish subsidiary, Moon Tech Spain SL.