Crypto trading platform Binance has just announced it has teamed up with CapBridge Financial (CapBridge), a Singapore-based leading and regulated integrated private markets platform, according to a press release shared with iHodl.
The company that Binance has just entered into this partnership with is a leading online integrated private markets platform regulated by the Monetary Authority of Singapore ("MAS") with two arms: a global online investment syndication and distribution arm that holds a Capital Markets Services License ("CMSL"), and 1exchange ("1X"), a private securities exchange built on blockchain that supports cost-effective private listing for family businesses and pre-IPO companies that holds a Recognized Market Operator ("RMO") license.
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Binance CEO Changpeng Zhao (CZ) has said the cooperation will allow the crypto trading platform to expand its services at the same time it complies with the local regulations:
"By joining forces with CapBridge, Binance will be able to work with a fully licensed firm to broaden services securing compliance with local regulations. We are looking forward to building a long-term partnership with CapBridge to diversify our offerings for users."
For their part, CapBridge CEO Johnson Chen has said the association will enable "eligible Binance users to grow their portfolios further," while 1X CEO Haiping Choo states the partnership is part of the exchange's vision to be "the preferred, reliable and regulated platform for companies and investors to list and trade private securities in a fair, transparent, and orderly manner."