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Binance Asia Services Takes Strategic Stake in Singapore-Based HG Exchange -Breaking

by Mike Robinson

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Binance Asia Services takes strategic stake in Singapore-based HG Exchange

Binance Asia Services (the blockchain ecosystem provider and cryptocurrency provider behind Binance.sg) today disclosed its 18% post-money stake in Hg Exchange, subject to regulatory requirements.

HGX is Southeast Asia’s first member-driven private securities exchange, founded by leading financial institutions PhillipCapital, PrimePartners, and Fundnel, and powered by Zilliqa’s high-performance blockchain. HGX has been granted a Recognised Operator license by Singapore’s Monetary Authority. HGX plans to list additional assets such as wines, art, and real estate, in addition to private company shares.

The convergence of crypto and traditional financial services continues. We are partnering with HGX to enhance the offerings of services and products that use blockchain technology.
Richard Teng CEO, Binance Singapore.

“We intend to work together with HGX for the enhancement of Singapore’s blockchain ecosystem.”
Binance Asia Services is continuing to foster collaboration with local partners and government agencies, as well as talent to help support sustainable growth in the global blockchain ecosystem.

Mr. Teng also added:

“In Singapore we are continuing to work with key government agencies in support of the growth and development of local talent.”

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