Binance has become the owner of a stake in the Hg Exchange trading platform
Once the deal is approved, the exchange will have access to security-token trading in Singapore
09.12.2021 - 07:50
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What’s new? Binance Singapore has published a press release sharing information about its acquisition of an 18% stake in the Singapore-based regulated security token platform Hg Exchange (HGX).
The full version of the press release
What is known about the deal? HGX is licensed by the Monetary Authority of Singapore and is a platform for trading digital tokens and securities. In addition, tokenized art and real estate are available to HGX users. The financial details have not yet been disclosed by both companies. All that is known is that the deal has to be approved by the local regulator.
As previously stated, the Binance exchange continues to cooperate with the authorities in various jurisdictions. At present, the company plans to apply for registration with the UK's Financial Conduct Authority (FCA) and obtain a license to operate in that country.
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