Binance plans to set up a hub for international settlements in Kazakhstan

The world’s leading cryptocurrency exchange, Binance, has chosen Kazakhstan to establish a regional hub for international settlements.

The initiative stems from a memorandum recently signed with the country’s central bank, part of a series of new agreements with Astana.

Biggest crypto exchange to process payments from Kazakhstan

Binance, the largest coin trading platform by daily volume, intends to create a settlement center in Kazakhstan, which will process payments for customers in the post-Soviet space.

The plan was made public by the National Bank of Kazakhstan (NBK), with which the cryptocurrency exchange signed a memorandum of understanding to that effect a few days ago.

On Monday, the monetary authority revealed that the hub will be processing cross-border payments and money transfers, including settlements for transactions with digital assets.

Its services will be available to users based in Central Asia, the Commonwealth of Independent States (CIS), and Eastern Europe, according to a press release, relayed by local and regional media.

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