Crypto exchange Binance is trying to keep its European ambitions on track while preparing a wider regulatory push across Asia, Reuters reported.
Richard Teng, Binance’s co-chief executive, outlined the company’s licensing plans at Reuters NEXT Asia in Singapore.
He said some European authorities have encouraged Binance to seek approval through their regimes, though he declined to identify them while talks continue.
The update comes after Binance abandoned its Greek application under the European Union’s Markets in Crypto-Assets Regulation, or MiCA, last month.
The company is expected to shift its EU licensing effort to another member state, with MiCA approval needed for crypto firms that want to operate across the bloc.
Teng indicated that Binance had believed its Greek filing met the required standards and should have moved forward.
The prolonged wait was unexpected, he added.
Binance pulled the filing to prevent EU customers from being caught in a compressed handover period.
The exchange is also looking to deepen its regulated presence in Asia.
Its latest regional move includes the Philippines, where Binance has partnered with local fintech firm Blockshoals Technologies.
Teng signalled that further approvals are being pursued as the exchange widens its regional operations.
Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Magnific