Binance Launches Local Bitcoin Exchange in Kazakhstan

Binance Exchange
Binance Exchange

Cryptocurrency exchange Binance has launched a previously announced local trading platform in Kazakhstan. This was reported to ForkLog by representatives of the company.

The local exchange has received a license from the Financial Services Regulatory Authority (AFSA) to operate a digital asset platform and provide custodial services at the Astana International Financial Center (AIFC).

At the time of launch, users can buy and sell cryptocurrencies for fiat, spot trading and conversion. Fiat deposits and withdrawals are possible using bank cards and transfers through Freedom Finance Bank.

The limit for fiat deposits on cards is 420,000 KZT ($935) per transaction.

In accordance with the regulatory requirements of Kazakhstan, some products and services may not be available or available to users to a limited extent. At the same time, the exchange intends to expand the range of services.

“By the end of the year, we plan to expand the product line, as well as bring the number of available digital assets to at least 100,” said Zhaslan Madiev, general manager of Binance Kazakhstan.

The platform is still available for users in Kazakhstan. To register on a local exchange, they need a different email.

Users who are not citizens of Kazakhstan can also trade on the local platform. They will need a Mastercard issued by a Kazakh bank and an assigned individual identification number.

Recall that in September 2022, Binance received a license in Kazakhstan to operate a digital asset platform and provide custodial services in the AIFC.

Read more about the activities of the exchange in the country in an interview with ForkLog.

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