Cryptocurrencies
Vertex Invests in Binance to Expand in Singapore
A mining facility near Waidhofen an der Ybbs, Austria.
Photographer: Akos Stiller/BloombergThis article is for subscribers only.
Vertex Ventures said it made an investment in digital asset trading platform operator Binance to develop a fiat-to-cryptocurrency exchange in Singapore.
The amount of the investment wasn’t disclosed. Binance, one of the world’s biggest cryptocurrency exchanges, primarily handles trades between digital tokens. The funding, which is a joint investment between Vertex Ventures China and Vertex Ventures Southeast Asia & India, will also support other fiat-to-crypto gateways and services throughout Southeast Asia, according to a statement.