Binance Taps Kazakhstan as Regional Settlement Hub

Kazakhstan has signed a memorandum of understanding with Binance Investments Co. to host a regional settlement hub for the global cryptocurrency exchange. The hub will serve clients across Central Asia, the Commonwealth of Independent States (CIS), and Eastern Europe.

The project aims to create a Binance group entity in Kazakhstan and localize some of the group's regional operations and infrastructure. The new entity would seek a National Bank license as a Category I payment organization, allowing it to handle international payments and money transfers, including settlements related to digital asset transactions.

Binance already operates in Kazakhstan through its subsidiary Binance Kazakhstan, which is licensed by the Astana Financial Services Authority (AFSA) to operate a digital asset trading facility and provide custody and other regulated financial services.