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Binance Applying for Singapore’s New Crypto License

Zhao Changpeng
Zhao ChangpengPhotographer: Akio Kon/Bloomberg

Binance Holdings Ltd., operator of one of the world’s largest crypto exchanges, is applying for an operating license in Singapore under the government’s new payments legislation.

“We have already applied,” Binance co-founder and CEO “CZ” Zhao Changpeng said in a phone interview. A company spokesperson later said Zhao was referring to the first stage of application only, submitting a letter of intent. “We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.”