- Binance gains a license to operate in Uzbekistan via COINPAY, enhancing crypto access through coinpay. uz.
- Users in Uzbekistan can now deposit and withdraw in local currency as Binance partners with COINPAY LLC.
- Binance strengthens Uzbekistan’s crypto market by partnering with COINPAY and aligning with NAPP’s regulations.
COINPAY LLC has officially entered into a partnership agreement with Binance, receiving authorization to operate in the Uzbekistan market under a licensed framework. The deal with Uzbekistan’s National Agency of Perspective Projects (NAPP) further enforces Binance’s compliance with the legislation and encouragement for the local crypto industry.
Binance Enhances Access to Crypto Services in Uzbekistan
With its partnership with COINPAY LLC, the exchange functions on coinpay. uz, the local platform. This is the basis for allowing users from Uzbekistan to deposit and withdraw funds in our local currency (national) through their local payment systems. This development greatly simplifies residential trades and expands the reach of crypto trading space in the region.
Kyrylo Khomyakov, the Regional Head at Binance for Central and Eastern Europe, Central Asia, and Africa, noted that compliance is key in this area, stating that cooperation is vital for the development of a secure environment for cryptocurrency. This way, Binance follows the rules of Uzbekistan and wants to gain trust and offer services suited to the market.
This initiative is supported by the National Agency of Perspective Projects (NAPP), which oversees Uzbekistan’s crypto, capital markets, insurance, and e-commerce sectors. It strives to establish a sound legal structure to prevent investor detriment and promote innovation and economic development.
Strengthening Uzbekistan’s Crypto Industry
The agreement with NAPP enables Binance to participate in developing the Uzbekistan crypto ecosystem. The regulatory framework of NAPP encourages growth and innovation and keeps investor protection. The agency wants to adapt to these global economic trends and remove bureaucratic hurdles so that companies like Binance can operate compliant and safely.
Binance partners with COINPAY LLC to ensure compliance with local law and uphold the safe use of cryptocurrency for trading and investing. This collaboration has made Uzbekistan a regional hub for blockchain and crypto innovations. With license No. CE#0004 to COINPAY LLC, users gain access to Binance services in the Uzbek market.
Binance Expands Global Reach with New Authorizations
Binance’s global expansion continues with the move into Uzbekistan. Binance recently received regulatory approval in Brazil and acquired Sim; Paul, a licensed broker-dealer. Binance’s acquisition aligns it with Brazil’s evolving regulations and allows the company to offer more services in Latin America’s biggest economy.
Following its global strategy, Binance aims to continue improving compliance and innovation by doing this properly according to local laws and contributing to the growth of blockchain and cryptocurrency technologies worldwide.
