In pursuit of its Europe and global expansion plans, Binance, the world’s largest cryptocurrency exchange has secured a license as a virtual assets service provider from Swedish regulators.

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Binance Expands to Sweden 

According to a January 11 announcement by Binance, the world’s largest crypto exchange has secured a license (from the Swedish Financial Supervisory Authority) to operate in Sweden.

This means that Swedish will now be able to trade and hold virtual assets on the Binance cryptocurrency exchange and additionally, Swedish will henceforth have access to other features like staking and mining on Binance.

Also, crypto enthusiasts in Sweden will gain access to Binance Pay and its Visa card which will let crypto holders spend their holdings at merchants that use the above-named features as a payment method.

When the effect of the registration will reflect in Sweden is yet to be confirmed by Binance, although a Binance executive said that “successful migration and launch of local operations” will come next.

Binance expansion in Europe continues amidst the prolonged crypto winter, in 2022 which was a bearish year for crypto, Binance expanded to more than 5 EU countries including France, Italy, and Spain.

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