Binance Eyes European Base as Circle Surpasses Expectations

Crypto companies are navigating the complex regulatory landscape in Europe. Binance has made significant strides by applying to operate in Greece under the EU's Markets in Crypto-Assets Regulation scheme. This move marks a strategic decision for the company, which holds about $44 billion worth of bitcoin in its customer wallets.

The application was submitted last month, and companies must obtain the license by July this year. Binance's co-CEO Richard Teng cited Greece's labor force and security profile as key factors in their decision-making process.

Meanwhile, Circle has reported a significant increase in revenue due to the growing adoption of its stablecoin token. The company surpassed Wall Street expectations for fourth-quarter revenue, with income from reserves boosted by a 72% surge in circulation of USDC to $75.3 billion.