InstaForex

November 24, 2021

From Decentralization to Centralization: Binance Selects Ireland to ‘Place’ HQ

 The world’s largest crypto exchange, Binance wants to set up a headquarters based in Ireland.


The decision was taken in the wake of full crypto restrictions in China and legal issues plagued with Binance over the past few months.


Actually Binance CEO Changpeng Zhao has several other options but Ireland has huge potential after The Irish Independent media reported the news.


For the record, this company has never owned a headquarters because it chose to prioritize the concept of decentralized or more precisely a decentralized organization.


“Binance is based all over the world without borders, without headquarters. Now, it is clearer that Binance needs to exist as a centralized exchange to prove that there is a legitimate entity supporting it. ” - CEO Binance.



For the record, Binance has established three subsidiary companies in Ireland: Binance (APAC) Holdings, Binance (Services) Holdings, and Binance Technologies.


Most recently, they have also launched Binance Exchange (Ie).


Perhaps many do not know that many institutions that offer cryptocurrency services are more comfortable choosing Ireland than other countries.


For example BNY Mellon, the oldest bank of the United States (US) has set up a new digital assets unit in Dublin, known as the Digital Innovation Hub.


The unit conducts protection services against cryptocurrencies and non-fungible tokens (NFT).