"In its announcement, Binance reported that it has secured three global financial licenses within Abu Dhabi Global Market, a special economic zone inside the Emirati city. The licenses regulate three different prongs of the exchange's business: its exchange, clearinghouse, and broker dealer services. The three regulated entities are named Nest Exchange Limited, Nest Clearing and Custody Limited, and Nest Trading Limited, respectively."
"The Abu Dhabi announcement suggests that Binance, which has for years taken pride in branding itself as a company with no fixed location, is bowing to the practical considerations that go with being a major financial firm-and the corporate governance obligations that entails. When Changpeng Zhao, the cofounder and former CEO of Binance, launched the company in 2017, he initially established the exchange in Hong Kong."
Binance secured three global financial licences within Abu Dhabi Global Market, covering its exchange, clearinghouse, and broker-dealer services under entities named Nest Exchange Limited, Nest Clearing and Custody Limited, and Nest Trading Limited. Co-CEO Richard Teng declined to confirm Abu Dhabi as a formal global headquarters but stated that Abu Dhabi Global Market will govern the exchange's global platform. A company spokesperson declined further comment and did not deny that Abu Dhabi appears chosen. The move shifts Binance from an itinerant corporate identity toward a regulated jurisdiction with stronger corporate governance obligations. The company was originally established in Hong Kong in 2017 and later relocated after China banned cryptocurrency trading.
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