Binance Expands Service Offerings With New Partnership

Bitcoin exchange Binance has entered into a strategic partnership with MAS-regulated private capital markets platform CapBridge Financial.

#Binance announces a new strategic partnership with CapBridge Financial.

– Binance (@binance) March 24, 2021

CapBridge is comprised of two divisions with associated regulatory licenses. One of them is intended for work with private investments, the second is the 1exchange (1X) securities exchange, built on the blockchain.

1X provides private offerings for family businesses prior to their IPO.

“By joining forces with CapBridge, Binance will be able to work with a fully licensed firm to expand services that comply with local regulations. We look forward to a long-term partnership with CapBridge to diversify our offerings to users, ”said Binance CEO Changpeng Zhao.

CapBridge CEO Johnson Chen said he hoped the regulated platform would bring new opportunities to Binance customers through the collaboration.

Detailed plans for the partnership will be announced at a later date.

As a reminder, Binance launched a crypto-fiat platform in Singapore in 2019. Later, the exchange renewed its license to operate in the country, in accordance with the adopted law on payment services.

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