Binance Charts Regulated Course to New Zealand

Binance’s expansion to New Zealand builds on previous registrations in other jurisdictions, a move that could mark a turning point for the exchange

article-image

Source: Shutterstock

share

key takeaways

  • New Zealand, with a population of 5 million, is considered a fintech pioneer by the exchange and its move there makes sense, Binance said
  • Its expansion to the country follows its successful registration as a financial service provider with the country’s business ministry

Binance has expanded its operations to New Zealand following a successful registration with the country’s business ministry earlier this month.

Binance New Zealand will join existing entities operating under the company’s name, including in Australia, Italy and more recently France. General manager Ben Rose, formerly of local software development firm CodeHQ will lead operations within the island nation.

The exchange and crypto infrastructure provider said the move to become a registered financial service provider with the Ministry of Business, Innovation and Employment made sense despite the country’s lower population and small domestic markets.

“A lot of major tech firms are slow to open a New Zealand office,” Binance founder and CEO Changpeng Zhao said in a statement. “I guess for some, it’s easy to overlook … but we see significant value in having a serious New Zealand presence.”

The island nation, situated east of Australia within the South Pacific Ocean, has a population of roughly 5.1 million, according to the latest national estimates. Of that, roughly 268,000 Kiwis own crypto, with a 69% and 31% split between men and women, a Finder survey shows.

A measured approach

Binance is looking to do things by the book after suffering multiple regulatory setbacks last year across varying jurisdictions. 

Britain’s financial watchdog barred Binance’s UK arm from conducting any regulated activity in July 2021 while regulators across Europe also moved heavily against the exchange’s derivatives operations, forcing it to wind down that section of its business across the region.

Germany, Hong Kong, Italy and Malaysia simultaneously ratcheted pressure last year over concerns Binance had not registered with appropriate authorities or otherwise, at the time, possessed weak anti-money laundering procedures.

It was revealed in a late 2020 request by the Justice Department’s money laundering section that it had asked Binance and its executives to hand over messages relating to the exchange’s detection of illegal transactions and recruitment of US customers, Reuters reported earlier this month.

Still, following the success of its early days, its infusion of cash and growth from trading activity has all but helped it expand to become one of the largest crypto companies in the world.

The measured entrance into New Zealand, as elsewhere, marks a somewhat different approach for the exchange hoping to move forward beyond doubts over its regulatory compliance.

And for locals on the ground, the move could translate into cheaper fees denominated in local currency.

“This is an exciting development for Kiwi investors and those with an interest in the future of Web3,” Rose said in the statement. “Kiwis can expect to have access to many exciting global product and service innovations happening in this space.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

Silk Road founder Ulbricht made a triumphant return to the Bitcoin Conference, 10 years on from sentencing

article-image

A Blockworks Research report looked at who could take up some of the marketshare in the launchpad space

article-image

Business-to-business stablecoin payments are on the rise, per a report from Artemis, Dragonfly and Castle Island

article-image

Crypto continues to do its thing: incentivizing behavior

article-image

Kraken will soon offer Backed ‘xStocks’ as Solana tokens

article-image

In a unanimous decision, the US Court of International Trade has ruled that Trump’s IEEPA tariffs are unlawful