Binance has become the first member to join the new crypto facility at the Dubai World Trade Center.

Binance, the world's largest cryptocurrency trading platform, is one of the first cryptocurrency exchanges to join the new cryptocurrency platform developed by the Dubai World Trade Center (DWTCA).

The day after the Dubai World Trade Center announced the announcement of the cryptocurrency complex in Dubai on Monday, Binance announced that it had signed a memorandum of understanding with DWTCA.

In a statement, the company said that as part of its DWTCA mission, Binance will help realize its vision of "accelerating the creation of new business opportunities for the virtual real estate world."

The company said it would help Binance ahead of Dubai's commitment to create a new global ecosystem of digital assets to do long-term business through digital transformation.

“Binance believes that Dubai's new system will support the growth of the global market. The goal is to facilitate cryptocurrency exchanges, blockchain service providers, and data sharing. on support. "

Binance CEO Changpeng Zhao recently took an interest in improving regulations in Dubai regarding cryptocurrencies. He was one of the leaders in the cryptocurrency community pushing DWTCA's new cryptocurrency launch on Monday. Apparently, Zhao Changpeng bought his first home in Dubai in October.

"Dubai https://t.co/yzTbV76geb"

- CZ Binance (@cz_binance) 21 July 2021

The partnership between Binance and DWTCA is crucial for the exchange as the company has worked hard to build relationships with several global financial leaders who have overseen the exchange this year.

As previously reported, Binance was forced to shut down some services after several global financial regulators issued warnings regarding cryptocurrency exchanges. Countries that have submitted Binance trade reports are Germany, Italy, United States, United Kingdom, Canada, Japan, Poland, and other countries.