Binance Secures Full ADGM Approval as BNB Moves Higher

Binance received full authorization from the Financial Services Regulatory Authority of Abu Dhabi Global Market on Monday. The development drew quick market interest, and BNB picked up slight gains as trading activity improved across the day.

ADGM Grants Complete License Set To Binance

The new approval gives Binance the right to run its global platform under the full structure of the ADGM rulebook. The exchange can now carry out trading, custody, settlement, and off-exchange services within the same financial zone. 

According to the update, the move places its operations under a system that follows the same order used in major financial centers. To meet the layout required by the regulator, the company will work through three licensed units. 

Notably, Nest Exchange Ltd will manage all spot and derivatives activity. Nest Clearing and Custody Ltd will handle digital asset storage and act as a central securities depository. Nest Trading will supervise off-exchange services, including OTC trades and conversion.

Meanwhile in a recent post, Richard Teng, the co-chief of the exchange, said the license confirms that the firm has met the standards set for compliance and customer protection.

Interestingly, this update comes shortly after Binance founder CZ was pardoned by President Trump. Market participants believe this development also gives the project a boost in regulatory confidence.

Abu Dhabi Strengthens Position In Binance’s Global Structure

The approval has renewed talks about the company’s base. Reports suggest that Abu Dhabi may now be the likely center for Binance because all three global licenses fall under the ADGM system. 

Basically, the firm has already arranged its operations to match the three-part model used by the regulator. Teng did not confirm that Abu Dhabi is the headquarters, but he explained that global regulators pay close attention to where a company holds its main licenses

It is worth noting that his comment signals that ADGM may guide the exchange’s wider operations. Earlier in the year, Abu Dhabi-based MGX invested two billion dollars in the exchange in return for a minority stake.

More importantly, the investment highlighted the region’s plan to build a stronger presence in the digital asset market.

BNB Gains As Futures Interest Picks Up

BNB moved up by more than one percent following the announcement. The coon is currently trading at $910.14, with a low of $872.89. Trading volume rose by almost 25% as more buyers entered the market.

It is important to add that the BNB’s recent surge news continues to draw attention after its sharp move above $1,300. Many market watchers believe it could return to the $1,000 level before the year ends.

Data from CoinGlass showed steady growth in BNB futures activity. Open interest rose by nearly 1.5% within four hours, pushing the full-day total to $1.40 billion.