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Temasek's Vertex invests in Binance for Singapore expansion

Oct 23, 2018 by The Passage Team
Temasek's Vertex invests in Binance for Singapore expansion

Vertex Ventures, the venture capital arm of Singapore's state fund Temasek Holdings, has invested in digital asset trading platform operator Binance to expand operations into the city-state.

The funding, jointly led by Vertex Ventures China and Vertex Ventures Southeast Asia & India, will help Binance to develop a fiat-to-cryptocurrency exchange in Singapore by year-end.

The amount of the investment by Singapore’s state investment firm was not disclosed. The money will also support other fiat-to-cryptocurrency gateways and services throughout Southeast Asia.

Source: Bloomberg

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