The cryptocurrency exchange Binance has launched announced earlier local trading platform in Kazakhstan, according to company representatives cited by ForkLog.
The local exchange received a license from the Committee for Regulation of Financial Services (AFSA) to operate a digital asset platform and provide custodial services at the Astana International Financial Centre (AIFC).
At launch, users can buy and sell cryptocurrencies for fiat, engage in spot trading and conversion. Fiat deposits and withdrawals are possible via bank cards and transfers through Freedom Finance Bank.
The fiat deposit limit per card is 420,000 KZT ($935) per transaction.
Under Kazakh regulatory requirements, some products and services may be unavailable or restricted to users. The exchange, however, intends to broaden the range of services.
“By the end of the year, we plan to expand the product line, and to increase the number of available digital assets to at least 100,” said Zhaslan Madiev, General Manager of Binance Kazakhstan.
The binance.com platform remains accessible to users from Kazakhstan. To register on the local exchange, they require a different email address.
Non-Kazakhstani citizens may also trade on the local platform. They will need a Mastercard card issued by a Kazakh bank and an assigned individual identification number.
In October 2022, Binance received a license in Kazakhstan to operate a digital asset platform and provide custodial services at the AIFC.
Read more about the exchange’s activities in the country in ForkLog’s interview.