Cryptocurrency exchange Binance is maintaining its commitment to the European Union, despite withdrawing its license application in Greece. The company is seeking to secure more licenses in Asia, according to co-CEO Richard Teng.

EU Commitment

Binance is in close talks with EU regulators to operate in the bloc. The company had withdrawn its Markets in Crypto-Assets Regulation (MiCA) license application in Greece, but intends to pursue authorization in another EU member state.

Crypto companies must obtain a MiCA license by July 2026 to continue operating in the EU. Teng stated that the decision to withdraw the application was made to prevent Binance users in the EU from facing a short transitional period.

Asian Expansion

Binance is also seeking licenses across Asia. The company recently announced its expansion into the Philippines through a partnership with local fintech company Blockshoals Technologies.

Teng expressed optimism about the longer-term outlook for crypto, citing greater interest among institutional investors in the asset class. Binance recorded a 9% increase in institutional clients being onboarded this year.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.