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Binance acquires 18% stake in Singapore-regulated Hg Exchange
The embattled crypto exchange will acquire the post-money stake, which includes its own investment, via its Singapore arm, Binance Asia Services. This move comes after Binance has mulled leaving the island republic over its regulatory licence limbo.
The acquisition could help with Binance's regulatory hurdles, as HGX was recently granted a recognised market operator licence from the Monetary Authority of Singapore. Other than private companies, HGX is working to list alternative assets such as wine, art and real estate.
