Government-owned venture capital arm of Temasek Holdings Pte, Vertex Ventures, has invested in crypto exchange Binance “to develop a fiat-to-cryptocurrency exchange in Singapore”, according to Bloomberg report.
It's also stated that the investing, which is a joint decision between Vertex China and Vertex Southeast Asia & India, would support other fiat-to-crypto exchanges all over Southeast Asia.
Vertex Ventures is the most oldest venture firm in Southeast Asia that invests in the crypto market.
Earlier this year, Binance shared its plans to start a closed beta testing of a new cryptocurrency exchange in Singapore.
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