Binance și-a marcat prezența among the Middle East investors by derulează diverse operațiuni licențiate in Abu Dhabi, Dubai and other regions. Targeting efforts in United Arab Emirate’s (UAE) mainstream corporate sector, Binance partnered with business lender Virtuzone, allowing new entrepreneurs to repay loans using cryptocurrencies.
Virtuzone joins the list of mainstream businesses in the UAE, such as JA Resorts and Hotels and Majid Al Futtaim, to officially accept cryptocurrencies after integrating Binance Pay into its payment gateway. In addition, by providing businesses the option to repay seed and other forms of funding through cryptocurrencies, the company intends to reduce barriers to entrepreneurship and support the startup communities.
Ca Emiratele Arabe Unite nr. 1 specialist in formarea companiei, #Virtuzone preia conducerea devenind primul furnizor de servicii corporative din țară cu care a format un parteneriat strategic @binance & Accept #crypto plăți prin #Binance Plăteștehttps://t.co/2fZWbh5uQs@nadeemladki @GeorgyGeorge9 pic.twitter.com/uiZxPAaTXp
— #VIRTUZONE (@Virtuzone_UAE) August 29, 2022
With blockchain venture capital funding going down over 43% in July, entrepreneurs are on the lookout for obtaining funds for new crypto ventures amid an ongoing piață bear. In addition to serving this need, Virtuzone also revealed plans to expedite Web3 adoption in the Middle East. On this note, speaking to Cointelegraph, Richard Teng, head of Binance Middle East and North Africa (MENA), stated:
„Piața care se dezvoltă în Emiratele Arabe Unite în jurul industriei Web3, datorită unui număr de inițiative guvernamentale, este una care va deveni un hub global pentru investitorii în active digitale.”
Binance also expects the MENA region to enjoy strong demographic growth in the next three decades. However, Teng believed that entering the untapped market requires the introduction of a regulatory framework for crypto and digital assets.
Related: Binance Aus intensifică măsurile pentru a proteja utilizatorii vulnerabili, spune CEO-ul
Binance CEO Changpeng „CZ” Zhao’s intent to work with the regulators has been established as a well-known fact. In doing so, the exchange restricted the account of Tezos staking rewards auditor Baking Bad “as the result of a law enforcement request.”
“Binance is required to cooperate with such requests, the same as any other exchange. There is a process to contest the seizure with the agency should you wish to pursue that path. But that is done through the agency, Binance has zero control over that process,” explained the exchange while sufficing the move.
Source: https://cointelegraph.com/news/binance-pay-partnership-allows-uae-entrepreneurs-to-repay-loans-using-crypto