Binance opens office in Ireland

In one items On October 7th, Reuters interviewed Binance CEO Changpeng Zhao about whether the company plans to set up a headquarters in Ireland, to which Zhao replied “yes”.

Binance CEO Changpeng Zhao

Zhao also clarified the statement with the words: “Historically we insist that we do not have a headquarters.” As a result, the company will not have a single head office and the new location in Ireland will simply be part of a larger network of offices.

News page Independent.ie of Ireland also reported that the company registered three companies in the country on Sept. 27. These companies have been registered as Binance (APAC) Holdings, Binance (Services) Holdings, and Binance Technologies.

Although three names have been registered, the report implies that they will all operate from the same location – including an accounting office on the upper floor of a building south of Dublin.

Regulatory challenges can be a factor that has forced Binance to look for new jurisdictions in which to operate.

Although Binance is not headquartered, Binance’s main markets are China and Asia. However, the company recently lost some of that market when it had to announce that the exchange would block clients from mainland China and Singapore until the end of September.

Earlier this year, UK banks like Barclay’s, HSBC and Santander blocked their customers from using the Binance exchange.

It is not clear why Binance chose Ireland as its next target market. However, some argue that the lack of restrictive crypto regulations and low tax rates may have attracted the company.

Binance also has no office and does not pay taxes in Synthetic Team, although the number of customers here is extremely large, Binance.com has up to 7 million visitors from Synthetic Team every month, this is also the 1 in the company’s 5 largest markets. according to Similarweb.

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Zhao Cao

According to AZCoin News

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