Binance Asia Service (a.k.a Binance.sg), the Singaporean arm of the world’s leading cryptocurrency trading venue, has invested in the private securities exchange – HG Exchange (HGX) – on December 8th.
Binance’s Strategic Stake
According to the official press release, BAS revealed an 18% post-money stake in HGX. Richard Teng, the CEO of Binance Singapore stated that the platform plans to work collaboratively with HGX to foster the blockchain ecosystem in the region and added:
“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.
In Singapore, we continue to work closely with key government agencies to support the growth of the blockchain ecosystem and development of requisite local talent needed.”
For the uninitiated, HGX was founded by prominent institutions such as brokerage firm PhillipCapital, financial service group PrimePa
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