The National Agency for Prospective Projects (NAPP) and the cryptocurrency exchange Binance have reached an agreement regarding the platform’s operations in Uzbekistan, as reported by the agency’s press service.
“Access for residents of Uzbekistan to the Binance platform will be provided through the relevant resources of Coinpay LLC (coinpay.uz). Additionally, users will also be able to deposit and withdraw funds in the national currency using bank cards and national payment systems,” the NAPP statement reads.
For residents of Uzbekistan, the system with Binance will be launched after the integration of all modules is completed. Coinpay and Binance will announce additional information about its launch at a later date.
The agency emphasized that the cryptocurrency exchange has fulfilled all court requirements and paid a fine of 300 base calculation units.
Coinpay was granted a licence to open a cryptocurrency exchange in early November 2023. The company’s authorised capital is UZS 8.6 bn, and its founder and director is Alexander Kim.
Binance and other global cryptocurrency exchanges have been blocked in Uzbekistan since the summer of 2022 due to their lack of a licence to operate in the country. As of the time of writing, the Binance website was accessible in Uzbekistan.
