Binance:- The European Union (EU) region is emerging as the highly competitive market for crypto exchanges. The clear regulatory procedures in the form of MiCA is proactively driving this race.
In a bid to lead in the race Binance, the leading crypto Exchange, has announced a major leadership appointment for the European region. As per the official announcement made today, it has appointed Ex-Gemini CEO as the Head of Europe and UK region.
As the Binance EU Head, she will oversee Binance’s business and regulatory strategies for the EU region.
Who is Binance’s New European Head
As per the Exchange’s official announcement, Binance’s new EU Head Gillian Lunch previously served as the CEO of Europe for Gemini. In her role, she helped the Exchange in securing the VASP registration. She had also been a senior executive at Bank of Ireland, Leveris.
Her appointment clearly indicates the Exchange’s plans of navigating the regulatory environment of EU to secure the “famed MiCA license.”
Binance holds Digital Asset Service Provider (DASP) registrations in France and Italy enabling it to offer custody, trading, and platform services there. And for regions beyond France and Italy, it has set up legal entities or sought registration in other countries. These include Ireland, Spain, Sweden, Switzerland, the Netherlands, Portugal, Austria, and others.
It still hasn’t yet obtained the overarching MiCA approval even though the exchange has been trying for months now. In March, it delisted nine stablecoins (including USDT and DAI) in the EEA to align with MiCA’s requirement. The appointment of Gillian Lynch who shows experience in dealing with the regulatory protocols can surely come as a great aid for the Exchange.
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MiCA Race is for Small European Pie
Since MiCA went live on December 30, 2024, many leading Crypto‑Asset Service Providers have received full authorisation. Recently, such list include Exchanges such as OKX, Bybit, crypto.com and Coinbase who have been successfull in securing the MiCA License. This is further stimulating Binance to speed up the process lest risking being left behind.
It is interesting that exchanges are flooding into the European region which still shows less crypto adoption as compared to other regions.
According to Chainalysis reports, the UK and the Central Northern, Western European region are ranked on 12th number – far behind US, Indonesia and Vietnam. Thus, as more and more exchange vie for the European market, the small pie is going to be fiercely competitive and distributed.
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