TL;DR Breakdown
- Binance exchange may setup its headquarters in France.
- Zhao says France is an ideal place for headquarters.
- Ireland, UAE are other countries Binance may take its headquarters to.
Binance exchange may be considering establishing its headquarters in France, the firm CEO, Changpeng Zhao, has hinted. He described the European country as a “natural choice” for a head office.
He said France would be an ideal headquarters for the crypto exchange as the firm looks at becoming centralized with a physical headquarters somewhere. Zhao revealed this while speaking in an interview with a French paper, Les Echos, during the week.
“As soon as possible, France will be a natural choice for a regional and perhaps global head office,” he said.
The CEO also spoke on other topical issues in the crypto industry.
Binance exchange CEO reveals why Binance wants to set up headquarters
Zhao revealed to the French newspaper that the exchange could have its headquarters in Europe, citing increasing regulatory pressure as the need to set up local, regional, and global offices.
However, he noted that one problem for Binance exchange is obtaining local authorizations. He disclosed that the exchange is already in talks with the regulators, and he’s being optimistic that an approval could be given within 6-12 months. He added that the regulators are pro-business but “very demanding” and are taking care to ensure that the exchange meets all requirements.
Other countries considered for Binance HQ
Binance exchange CEO has previously revealed that Ireland was part of plans for the establishment of its headquarters. “Historically, we claim that we don’t have headquarters. We are actually just in the process of establishing a few headquarters in different parts of the world,” Changpeng Zhao said in an interview.
Asked if Ireland featured in Binance’s plans to establish headquarters in a particular country, Zhao replied: “Yes, it does.” He declined to give further details of the plans for the country.
Also, Chinese journalist Colin Wu revealed that Binance exchange might be set to take its headquarters to Dubai, United Arab Emirates. The journalist reported that Changpeng Zhao was spotted attending a meeting with the authorities in the Arabian city.