A strategic partnership was formed to better hold and follow regulation for Security Token Offerings (STO). The alliance is between the number one crypto exchange in the industry, Binance Exchange and Singapore-based crypto exchange service – CapBridge.
Binance Exchange recently announced the signing of a Memorandum of Understanding (MOU) to build a strategic partnership with CapBridge Financial (“CapBridge”), Singapore’s leading and regulated integrated private markets platform.
In a statement obtained from the CEO of Binance Changpeng Zhao(CZ), the partnership will afford Binance users the ability to participate in STO offerings.
“By joining forces with CapBridge, Binance will be able to work with a fully licensed firm to broaden services securing compliance with local regulations,” – CEO Changpeng Zhao.
The Binance company is looking forward to building a long-term partnership with the Singapore-based exchange company to diversify their offering to users.
Similarly, CEO of CapBridge CEO Johnson Chen has expressed his excitement about the partnership and has expressed synergy between them.
“Our fully licensed platform will offer new opportunities for eligible Binance users to grow their portfolios further.” – CEO Johnson Chen.
The Singapore-based platform is a leading online integrated private market platform regulated by Singapore’s Monetary Authority (“MAS”). The platform is made up of two arms:
Global online investment syndication and distribution arm that holds a Capital Markets Services License (“CMSL”),
And 1exchange (“1X”), a private exchange arm built on the blockchain and has a Recognized Market Operator (“RMO”) license. It supports cost-effective private listing for family businesses and pre-IPO companies.
The integrated private market ecosystem of CapBridge Financial combines the vast strength and potentials of private markets with leading-edge technology and commercially oriented solutions.
About Binance Exchange
Binance is home to the biggest crypto exchange service in the world and the increasingly popular Binance Smart Chain network.
The exchange is famous for innovative services and products: a strong team, a vibrant and super-active CEO. The exchange platform sits at number one in the Coinmarketcap list of exchanges with a $65 Billion in market cap and daily volume of more than $2 billion.
This move will again display Binance exchange as one of the top crypto exchange services and platforms with a plethora of offerings for its immense number of users worldwide.
The partnership will afford both exchange users a wide range of new opportunities and services. According to the official announcement released on the Binance Blog, additional plans of the partnership will be released later.
Source : bsc.news
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