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

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.

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