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The world largest cryptocurrency trading platform Binance is reportedly looking to touch base in Ireland after Irish media outlet Independent revealed on Wednesday that the business has established three subsidiaries in the country on September 27. For each of the subsidiaries, Binance (APAC) Holdings, Binance (Services) Holdings, and Binance Technologies, current Chief Executive Officer, Changpeng Zhao (CZ), is listed as director.
After wandering the globe in what CZ has described as a “decentralized” structure, it looks the company is settling down to bolster its compliance.
On Thursday, Reuters published an interview with Zhao where he discussed the company’s headquarters saying:
“Historically, we claim that we don’t have headquarters. When we first started we wanted to embrace the decentralized principles, no headquarters, work all around the world, no borders. It’s very clear now to run a centralized exchange, you need a centralized, legal entity structure behind it.”
CZ also confirmed that the exchange is “in the process of establishing a few headquarters in different parts of the world” and that Ireland is a strong contender for formal headquarters.
Binance has taken some drastic moves affecting its operations in the past months after global regulators applied pressure on the exchange. Time seems to have come now where the exchange can start building on a compliant future.