As speculations about the world’s largest exchange, Binance’s exit from its former hub, Singapore took over social media, the latest update cancelled out all rumours, and determined Binance’s expansion plans. Binance CEO, Changpeng Zhao took to Twitter today, declaring that the crypto exchange has acquired 18 per cent of Singapore-regulated private securities exchange, Hg Exchange (HGX).
» Binance acquires 18% stake in Singapore-regulated Hg Exchange https://t.co/ZntbLsZgWk
— CZ Binance (@cz_binance) December 8, 2021
Binance Exclusive Investment To Cross Regulatory Hurdles
The acquisition has come just in time when Binance was struggling with getting approval from the Monetary Authority of Singapore (MAS) to legally provide crypto services in the nation. As HGX is a recognised market operator, it could potentially help Binance cross the innumerable regulatory hurdles.
According to Binance Singapore’s Chief Executive, Richard Teng, with its latest investment into HGX, Bin
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