Binance Singapore Acquires 18% Stake In Private Securities Exchange HGX

Binance, a leading crypto exchange, has recently acquired an 18% stake in the Singapore-regulated private securities exchange Hg Exchange (HGX). According to the official announcement, the deal will be carried out through the Singapore branch of the crypto exchange Binance Asia Services.

Speaking about the latest developments, Binance Singapore CEO Richard TENG, who previously served as Chairman of HGX, said:

“Crypto and traditional financial offerings continue to converge. Through this investment, we seek to work with HGX in enhancing offerings of products and services supported by blockchain technology. ”

HGX offers its clients equity investments in private companies and was recently licensed as a registered market operator by the Monetary Authority of Singapore (MAS) this year. The company noted that it is actively working to list several alternative assets on its platform, including art, real estate and more, in addition to the private equity shares it currently offers.

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