According to a report from Nikkei Asia, Binance intends to make another attempt to apply for a cryptocurrency service license in Singapore.
In the past, in 2020, the Binance Singapore entity also applied to the authorities for a license to operate a cryptocurrency exchange, but later withdrew its application the following year. The company said at the time that its decision to withdraw its Singapore license application was based on “global strategic, commercial and development considerations”.
Binance is now attacking for the second time, and has readjusted its strategic direction and turned to corporate customers and professional investors.
To this end, Binance launched a restructuring business for corporate customers in Singapore at the end of November last year, renaming Binance Custody as Ceffu, and is currently applying for a capital market service license from the Monetary Authority of Singapore (MAS) to provide cryptocurrencies locally. baby sitting program.