Binance Registers Fourth Entity in Ireland: Report

The crypto exchange is expected to settle on a global HQ.

Nov 23, 2021 at 4:28 a.m. UTC
Updated Nov 23, 2021 at 3:24 p.m. UTC

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Binance has registered a fourth legal entity in Ireland, according to a report by the Irish Independent.

  • After years of decentralized operations, Binance is set to settle down on a global head office to ease compliance woes. Changpeng “CZ” Zhao, founder and CEO of the world’s largest crypto exchange, said on Nov. 19 that Binance had picked a location for its HQ.
  • Binance set up three companies in Ireland in September: Binance (APAC) Holdings, Binance (Services) Holdings and Binance Technologies. The new entity is called Binance Exchange (Ie). In October, Zhao confirmed that Binance is considering Ireland for its global HQ to Reuters.
  • But in November, Zhao also disclosed his plans for offices in France, according to an interview with French newspaper Les Echos. “France would be a natural choice for a regional, and perhaps even global, head office,” Zhao teased during the interview.
  • Binance has been under regulatory pressure from authorities around the world, such as Japan, the U.K., and even crypto-friendly Singapore.
  • Ireland has been a favored location for European offices among U.S. big tech firms including Apple and Google, in part thanks to low taxes. However, Dublin will increase taxes for large multinational firms to 15% from 12.5%, the government decided in October.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

Trending

1
First Mover Americas: Bitcoin Back Below $30K as Target Shortfall Shows Inflation Hitting Economy

The latest moves in crypto markets in context for May 18, 2022.

The latest moves in crypto markets in context for May 18, 2022.

2
Aave’s Decentralized Social Media Platform Arrives on Polygon

The launch of Lens Protocol comes weeks after Aave founder Stani Kulechov was temporarily suspended from Twitter.

The launch of Lens Protocol comes weeks after Aave founder Stani Kulechov was temporarily suspended from Twitter.

3
FTX, Liberty City Lead $20M Raise for Dev Platform DoraHacks

The hackathon startup will use the funds to launch an NFT-focused venture fund, among other things.

The hackathon startup will use the funds to launch an NFT-focused venture fund, among other things.

4
INX Taps Galaxy Digital Alum as Chief Financial Officer

Renata Szkoda previously served as finance director at the Mike Novogratz-led crypto financial services firm.

Renata Szkoda previously served as finance director at the Mike Novogratz-led crypto financial services firm.