Recently, Binance secured a license to offer full crypto exchange products and services in Dubai. Earlier the exchange just had a license to offer some of the limited crypto exchange products and services to qualified investors.
According to the press release, with the new Minimal Viable Product license, the exchange can open a domestic bank account to hold funds of the users locally, operate the exchange, and offer payments and custody services to the users. MVP license from the Dubai regulator was received by Binance back in March.
Binance has been trying to attain global regulatory approval after facing a series of setbacks.