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Binance has been granted registration as a financial institution for management and trading in virtual currency by the Swedish Financial Supervisory Authority.

The award follows months of engagement with the regulator which today handed Binance Nordics AB the registration number 66822.

The move means Swedish residents will now be able to access Binance’s crypto and Web3 services, including popular Euro deposits and withdrawals, crypto purchases with Euro, trading, staking and the Binance Visa Card.

Sweden becomes the seventh EU Member State in which Binance has been granted authorisation, following green lights in France, Italy, Lithuania, Spain, Cyprus and Poland.

Richard Teng, Head of Europe and MENA at Binance, said granting of the registration showed Binance continued to demonstrate a commitment to work closely with regulatory agencies to uphold global standards.

“Our registration in Sweden is the result of many months of diligent, hard work from our team, underpinning our commitment to the Swedish market and our users,” he explained.

“We are deeply grateful for the support from the Swedish Financial Supervisory Authority throughout the application process and for the approval. Sweden is now amongst the growing list of global jurisdictions that have granted regulatory approval to Binance.”

Roy van Krimpen, Nordics and Benelux Lead, added: “Sweden fully adopts EU laws and has further local requirements, so we have been careful to ensure that Binance Nordics AB has adopted risk and AML policies to match this exacting standard. Our next big task will be the successful migration and launch of local operations, including hiring of local talent, organizing more events and delivering more crypto education in Sweden.”