Binance exchange set to take headquarters to Dubai, Ireland


TL;DR Breakdown

  • Binance exchange to setup headquarters in UAE.
  • Zhao says firm would setup many headquarters including in Ireland.

Embattled Binance exchange may be set to take its headquarters to Dubai, United Arab Emirates.

The move becomes necessary after the top crypto exchange firm reportedly failed to acquire regulatory approval in Singapore. CEO of Binance exchange, Changpeng Zhao, was spotted attending a meeting with the authorities in the Arabian city.

Chinese journalist Colin Wu tweeted on Monday that outside Binance exchange, other Chinese exchanges like Huobi are also looking to set up their base in Dubai.

“Binance held a meetup in Dubai. Due to the difficulty of applying for a work visa in Singapore, many exchanges began to transfer to Dubai, such as Huobi, the Chinese journalist reported.