Top-tier global crypto exchange platform Binance has reportedly taken another stride to reinforce its EU footprint, via securing the greenlight to function in Italy. 

Specifically, initially, a Binance establishment had completed the registration to set up shop and function in France at the beginning of May. 

On May 27th, the exchange’s official blog reportedly revealed that Binance Italy has successfully acquired the regulatory go-ahead to operate in the nation, via its registration as a Cryptocurrency Service Provider with Organismo Agenti e Mediatori (OAM), as required by Italian legislation.

The registration reportedly makes it possible for Binance to provide crypto offerings to its Italy-based clients, in compliance with local regulations, together with setting up offices and widening the scope of its local team. 

In his statement, Binance co-founder and current Head Changpeng “CZ” Zhao reportedly expressed his gratitude towards Italy’s Ministry of Economy and Finance as well as the OAM, for the efforts they put into “defining and controlling the necessary requirements to operate in Italy in full transparency.”

A spokesperson from Binance reportedly offered further details, claiming that the firm’s headquarters will be based in Milan – a suburban area viewed as a significant business hub in Italy.

“We are committed to obtaining relevant licenses and registrations everywhere we can.” The spokesperson additionally remarked in terms of the next locaiton Binance has down its pipeline to secure a license. 

Prior to its announcements regarding operating licenses in France in Italy, Binance reportedly carried out a series of initiatives on the Middle Eastern market. In March, the exchange got the regulatory approval from regulators in Bahrain and Dubai, and in April the firm snatched an in-principle approval to function in Abu Dhabi.