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The Swedish Financial Supervisory Authority registered the largest cryptocurrency exchange in the world, known as Binance...
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which is a financial institution that is responsible for the management as well as trading of virtual currencies within the Scandinavian country.
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It was the seven EU nations in which the platform has been granted such approval.
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The previous six included Italy, France, Spain, Poland, Cyprus, and Lithuania.
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Binance confirmed that their Swedish subsidiary called Binance Nordics AB, was granted approval from Sweden's financial watchdogs following "months of positive engagement."
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The authorization permits residents access to its services and products, like buying cryptocurrency using euros, withdrawing funds against fiat currencies trading, and taking stakes.
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Richard Teng - Head of Europe and MENA at Binance The latest registration of the company demonstrates its commitment to work with regulators to "uphold the highest standards in the world."
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“We are deeply grateful for the support from the Swedish Financial Supervisory Authority throughout the application process and for the approval.
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Sweden is now amongst the growing list of global jurisdictions that have granted regulatory approval to Binance.” he added.