Binance the world\u2019s leading crypto exchange by trading volume announced a new partnership with Dubai World Trade Center Authority (DWTCA) to build a crypto hub. The Memorandum of Understanding (MoU) with the DWTCA would see the global crypto exchange help Dubai become a leading center for crypto businesses and also build a crypto ecosystem that \u201cgenerate long-term economic growth through digital innovation.\u201d Dubai https:\/\/t.co\/yzTbV76geb \u2014 CZ Binance (@cz_binance) December 21, 2021 The official press release from the crypto exchange read: \u201cBinance believes that Dubai\u2019s new agenda will contribute to the growth of the global economy. In order to support this, Binance will participate in this knowledge-sharing ecosystem by sharing its experience in collaborating with global regulators to aid the development of progressive Virtual Asset regulations. The goal is to assist crypto exchanges, businesses that offer blockchain and Distributed Ledger Technology (DLT) services, and a wide range of digital currencies and assets to become licensed in Dubai.\u201d The agreement between the two parties was expected given Binance had made its plans of opening a crypto venture in Dubai a while back. The partnership announcement also comes just a day after the government of Dubai declared DWTCA as the regulator and comprehensive zone for the crypto industry. Binance CEO Changpeng Zhao has even tweeted about the same yesterday. \u00bb Dubai World Trade Centre to become comprehensive zone and regulator for virtual assets and Crypto https:\/\/t.co\/Ndr6GDcJ4u \u2014 CZ Binance (@cz_binance) December 20, 2021 Binance extends its dominance in Asia The new agreement in Dubai would play a major role for Binance and its plans to conquer the Asian pacific markets. Earlier, the leading crypto exchange also announced a new crypto venture in Indonesia with the country\u2019s top telecom provider. The Indonesian crypto venture was confirmed just days after Binance\u2019s affiliate exchange in Singapore pulled out its crypto license which was pending for over six months now. Binance has global aspirations but a slew of compliance warnings in the May-July phase put a dent in the rapid rise. However, the crypto platform has jumped back quickly and is expected to raise a couple of hundred million dollars for its US venture called Binance.US. The post Breaking: Binance announces agreement with Dubai World Trade Center to build a crypto hub appeared first on CoinGape.