Binance Will Acquire 18% Stake In Private Securities Exchange Hg

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It’s been just reported that Binance Asia Services, the Singapore entity of Binance, announced on Wednesday that it is acquiring an 18% stake in Hg Exchange.

This is a Singapore-based private securities exchange.

The BlockCrypto notes that it is not clear how much Binance Asia is investing in Hg to acquire the stake.

The same online publication notes that A Binance spokesperson declined to comment to The Block when reached.

The deal is subject to regulatory approvals, and an expected closing timeline is unknown, according to the very same notes.

The article also made sure to highlight the fact that the Hg Exchange (HGX) is a private securities exchange built on the Zilliqa blockchain, “which facilitates trading in tokenized shares of private companies. HGX is also working on listing alternative digital assets, including wine, art, and real estate, said Binance.”

The notes continued and reveal the following:

“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,” said Binance Singapore CEO Richard Teng.”

Binance in the news

Last month, we were revealing that Binance made an important move for crypto fans.

CoinDesk notes that crypto giant Binance has published “10 Fundamental Rights for Crypto Users” – this is a carefully worded balancing act pushing for innovation in the face of fast-arriving regulation.

Binance’s would-be crypto constitution bullet-points financial inclusion, “smart regulation,” personal data privacy, reliable security, and rules around selling crypto derivatives.

It’s been also revealed that Binance’s fractious relationship with various regulators around the world is well documented. Its leader said that the firm has no headquarters, while crypto exchanges elsewhere were forced to meet the requirements of their respective jurisdictions.

“Regulation and innovation are not mutually exclusive,” states Binance’s seventh note. Check out our previous article in order to learn more details.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.