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Binance enters Singapore with funding from state-owned investment firm
2018-10-23T10:30:14Z - Neer Varshney / The Next Web
Leading cryptocurrency exchange desk Binance has received a backing from Singapore’s government-owned holding company Temasek Holdings. Vertex Ventures, Temasek’s venture capital arm, has made an investment in Binance to help develop a cryptocurrency-to-fiat exchange desk in Singapore, the company announced today. Binance’s plan to open a fiat exchange desk in Singapore were made public last month when the company’s CEO Changpeng Zhao announced the beta testing program. The exchange desk started offering cryptocurrency-to-fiat trading pairs in Uganda earlier this month as part of its larger goal of expanding to Africa. Earlier last week, another cryptocurrency company BitGo also raised investments from banking giant Goldman Sachs and billionaire Mike Novogratz.

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