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Binance Repositions In Singapore, Pivots Toward Investment & Blockchain
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The crypto exchange giant Binance says that it will shut its Singapore exchange and “refocus” its Singapore-based Binance Asia Services operations into what it calls a “blockchain innovation hub.” The move comes just days after the Singaporean subsidiary announced an investment in the Singapore-based Hg Exchange trading platform.
In a press release shared with Cryptonews.com, Binance explained that after “taking into account strategic, commercial and developmental considerations globally,” Binance Asia Services had withdrawn its application to the Monetary Authority of Singapore (MAS) for a “license to operate a regulated cryptocurrency exchange in the country.” It explained that its “fiat-to-crypto trading platform Binance.sg” was now set
Read more on cryptonews.comAbout this in other media
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