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Finance

Binance Registers Fourth Entity in Ireland: Report

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

By Eliza Gkritsi
AccessTimeIconNov 23, 2021 at 4:28 a.m. UTC
Updated May 11, 2023 at 4:06 p.m. UTC
Samuel Beckett Bridge in Dublin, Ireland. (Gabril Ramos/Unsplash)
Samuel Beckett Bridge in Dublin, Ireland. (Gabril Ramos/Unsplash)

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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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Eliza Gkritsi
    Eliza Gkritsi

    Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

    Follow @egreechee on Twitter