Binance Continues to Serve South African Derivative Users

Fellow Binancians,

In line with regulatory requirements, Binance Bahrain B.S.C. (c) will become the entity that provides services for derivatives products for South African residents as a Juristic Representatives of FiveWest OTC Desk (Pty). By doing this, Binance ensures that it continues to comply with its regulatory obligations and can continue to provide services for derivatives products to South African users.

What Does This Mean for South African Derivatives Users:

South African derivatives users will need to register a new account with Binance Bahrain and accept the applicable Terms of Use. Users will need to resubmit all required Know-your-Customer (KYC) documentation in order to comply with Bahrain regulatory requirements.

What Does This Mean for Binance:

Binance will be able to continue serving South African users in compliance with local regulatory requirements. Binance Bahrain is able to provide crypto exchange and custodian services in line with its Licence by the Central Bank of Bahrain as a Category 4 Crypto-Asset Service Provider to operate a crypto-asset exchange.

Thank you for your support!

Binance Team

2024-09-02