Binance Asia Services, the Singapore entity of Changpeng Zhao, said it made an investment in a regional private securities exchange called Hg Exchange that gives it a post-money stake of 18%.
“Through this investment, we seek to work with HGX in enhancing offerings of products and services supported by blockchain technology,” said Binance Singapore Chief Executive Officer Richard Teng. Financial offerings in the traditional form and crypto assets are converging, Teng said in a statement Wednesday. A post-money valuation is the firm’s worth that includes the outside investment.
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December 08, 2021 at 08:00AM
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Binance Invests in Singapore Private Exchange for Token Assets - Bloomberg
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