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Binance expands in Singapore amid global crackdown

Binance, the world’s biggest cryptocurrency exchange by trading volume, appears to be expanding its Singapore office. At the time of publishing, Linkedin showed that it had 261 job vacancies in Singapore — where its CEO, Changpeng Zhao, allegedly lives — among 964 vacancies globally. 

Fast facts

  • The talent Binance is seeking ranges from futures growth managers to content strategists and blockchain developers. Among the 261 jobs available, 259 were posted in July, with 244 at entry-level, associate-level or middle-senior levels. The remainder are internships, directorships or executive positions. By comparison, the bourse only has two openings in the U.S. and China, respectively. 
  • Binance has received warnings or is being investigated in 10 jurisdictions, but it has not received a rebuke from Singapore’s de facto central bank, the Monetary Authority of Singapore.
  • Binance operates in Singapore as Binance Asia Services, under an exemption from holding a license as part of transitional arrangements under the Payment Services Act for the provision of digital payment token services. Binance Asia Services’ licence application is being reviewed by the MAS, a spokesperson told Forkast.News.
  • Binance is not the only crypto exchange that is eyeing the Singapore market. Babel Finance, a Hong Kong-based crypto lender and asset manager that raised US$40 million in May, told local media earlier today that it has obtained a relevant license from MAS. Gemini, founded by Cameron and Tyler Winklevoss, chose Singapore as its Asia-Pacific headquarters and has seen “rapid growth” in the country. 

   

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