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Binance to Partner With Singapore-Based Platform CapBridge to Broaden Its Services
The legally non-binding agreement indicates the two firms intend to build a strategic STO.
Blockchain and cryptocurrency infrastructure firm Binance has signed a Memorandum of Understanding (MoU) with Singapore-regulated private markets platform CapBridge to broaden its services.
STORY CONTINUES BELOW
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- According to the Binance blog post Wednesday, the legally non-binding agreement indicates the two firms intend to build a strategic security token offering (STO).
- Singapore-headquartered firm CapBridge was founded in 2015. It is regulated by the Monetary Authority of Singapore (MAS) and backed by the Singapore Exchange.
- CapBridge has two separate arms: a distribution arm that holds a Capital Markets Services License and the 1exchange, which is MAS-regulated, built on blockchain technology and holder of a Recognized Market Operator license in Singapore.
- “By joining forces with CapBridge, Binance will be able to work with a fully licensed firm to broaden services securing compliance with local regulations,” said Binance CEO Changpeng Zhao.
- More details on the partnership will be announced at a later date.
Read more: Binance Faces CFTC Probe Over US Customers Trading Derivatives: Report
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
