Binance announced that the authorization covers trading, custody, clearing, settlement, and off-exchange services. The newly licensed structure will operate through three regulated entities: Nest Exchange for on-exchange trading, Nest Clearing and Custody for digital asset safeguarding and settlement, and Nest Trading for OTC and off-exchange activities.

Binance noted that achieving full FSRA licensing demonstrates compliance with global standards, enhances consumer protection, and aligns the company with traditional financial-market infrastructure.

Binance Becomes First Exchange to Receive All ADGM Licenses

According to the official announcement, this regulatory milestone positions Binance as the first crypto exchange to secure every major license available under ADGM. Co-CEO Richard Teng highlighted the importance of regulatory clarity and emphasized how the new framework elevates the company’s operational transparency worldwide.

“But for all intents and purposes, if you look at the regulatory sphere, I think the global regulators are more concerned of where we are regulated on a global basis.”

The licensing structure separates Binance’s activities into exchange, clearinghouse, and broker-dealer functions, aligning with ADGM’s stringent regulatory model.

Abu Dhabi Increasingly Seen as Binance’s Global Base

Binance has long avoided giving a definitive answer on where its global headquarters is located. However, Fortune reported that the three ADGM licenses strongly suggest Abu Dhabi could become the company’s de facto global headquarters. Teng declined to confirm the shift, yet his remarks pointed toward the growing relevance of the UAE’s regulatory framework.

Earlier this year, Abu Dhabi-based investment firm MGX acquired a minority stake in Binance with a $2 billion investment, demonstrating the region’s strategic focus on digital assets and blockchain development.

BNB Extends Its Rebound After Licensing Announcement

BNB reacted immediately to the regulatory news. The token rose more than 1% and extended its 24-hour rebound beyond 3%. At the time of writing, BNB is trading around $901.73, after hitting an intraday high of $908.65. Trading volume climbed nearly 25%, while CoinGlass data showed BNB futures open interest rising to $1.40 billion.

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In a strategic move that could reshape the stablecoin landscape, Ripple has officially applied for a banking license in the United States—bringing crypto one step closer to the heart of the financial system.

Following Circle’s Lead in the Banking Race

Ripple CEO Brad Garlinghouse confirmed via X that the company has submitted an application to the Office of the Comptroller of the Currency (OCC) for a national banking charter. If approved, Ripple USD (RLUSD) will be under federal and state regulatory oversight, complementing the supervision already in place by the New York Department of Financial Services.

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This move closely follows Circle’s similar application to create a national trust bank for overseeing USDC reserves. The GENIUS Act, recently passed by the U.S. Senate, appears to be accelerating such actions by laying out a clear framework for stablecoin issuers under OCC supervision.

Ripple Aims for Fed-Level Access

Going a step further, Ripple has also applied for a Master Account with the Federal Reserve. This access would enable the firm to hold RLUSD reserves directly with the central bank—enhancing transparency and trust in its stablecoin infrastructure.

The application was submitted via Standard Custody, a crypto custody firm acquired by Ripple in February 2024.

Following these announcements, XRP surged over 3%, reaching $2.27 according to CoinGecko—signaling investor confidence in Ripple‘s regulatory strategy.

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Nigerian Office Marks Key Entry

Blockchain.com, the UK-based crypto exchange, plans to establish a physical office in Nigeria during Q2 — its fastest-growing market in West Africa. According to Owenize Odia, Blockchain.com’s General Manager for Africa, “Nigeria has taken meaningful steps toward creating a clear framework for crypto.” The move also includes broader expansion plans in Ghana, Kenya, and South Africa.

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Although crypto trading remains restricted in many African countries, several — especially Nigeria and Ghana — are making moves toward formal legal frameworks. Ghana’s central bank released a draft indicating that crypto platforms may be regulated by September 2025. Meanwhile, Kenya continues to research the sector. These developments are crucial to Blockchain.com’s strategy, as regulatory clarity heavily influences expansion decisions.

South Africa Leads Africa’s Crypto Charge

South Africa is quickly becoming the continent’s crypto hub. With strong legal foundations and a business-friendly atmosphere, it has attracted global attention. According to Ben Caselin of VALR, a Johannesburg-based exchange, regulatory transparency is a key draw. As of March 2024, the Financial Sector Conduct Authority (FSCA) had approved 59 licenses, with over 260 applications under review.

Blockchain.com claims over 92 million wallets, 37 million verified users, and $1 trillion+ in total transaction volume globally.

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Over the past six months, SHIB has seen increased attention, with multiple platforms, including a Japanese exchange, listing the Ethereum-based meme coin.

Speculation about a price surge accompanied these listings, fueled by expectations of higher adoption and demand. Following its listing on Coincheck, SHIB saw a price increase of 7.61%, generating excitement within the community. However, despite the recent Nexo listing, SHIB’s price remained in the red at the time of writing, trading at $0.00002681 with a 5% decrease over 24 hours. Nevertheless, there is optimism that SHIB could experience a significant uptick in price, with experts predicting potential gains of up to 70% in the coming weeks, citing improvements in the ecosystem fundamentals.

Nexo Obtains Dubai License, Expands Crypto Compliance

Meanwhile, Nexo, in addition to listing SHIB, recently obtained a license from the Dubai Virtual Assets Regulatory Authority (VARA). This move represents an expansion of Nexo’s services and signifies progress in overcoming regulatory hurdles. While not a full license, this initial consent marks a significant step forward for Nexo in its licensing process, signaling its commitment to compliance and expansion in the cryptocurrency space.

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Hong Kong announce that it will disclose a list of companies applying for newly launched retail crypto trading license following the JPEX controversy. The Securities and Futures Commission (SFC) stated in their announcement that they will publish a list of licensed virtual asset trading platforms, a list of closed VATPs, and a list of VATPs considered licensed after June 1, 2024.

The SFC stated in their announcement, “To help the public more easily identify and increase awareness of suspicious VATPs operating in Hong Kong, the SFC will develop and publish a specific list of suspicious VATPs that is easily accessible and featured on the SFC’s website.”

SFC Licensing Director and Fintech Unit Head Elizabeth Wong stated in a press conference that publishing the list of applicants allows the public to check whether platforms have made false declarations related to license applications. She also said, ‘According to local media RTHK, there are currently four companies in the preliminary process for applying for a license.

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Raid!

This move by the SFC comes after the regulator warned on September 13 that the crypto phenomenon and trading platform JPEX made “false or misleading statements on social media” by stating that the company had applied for a virtual asset trading license in Hong Kong.

Last week, 20 different places were raided by the Hong Kong police and 11 people were detained from various locations.

As a response to the police intervention, JPEX officials stated they had received “unfair treatment”. In another announcement made by the exchange, they called for their users in Hong Kong to “temporarily stop depositing new assets and crypto assets to the platform”.

Operations manager of crypto platform VDX, Donald Day,

said, “It’s very encouraging that Hong Kong is ready to impose sanctions against unlicensed and criminal activities. It’s also very positive to see that there are people who often force ignorant investors to trade on JPEX, also known as ‘KOL’.

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