ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Binance shuts down Singapore cryptocurrency exchange

Provider of Bitcoin trading to refocus on blockchain tech in city-state

Binance operates one of the world's biggest cryptocurrency portals but has come under scrutiny from regulators around the world.   © Reuters

SINGAPORE -- Binance, operator of one of the world's largest cryptocurrency portals, said Monday it will close its digital token exchange serving Singapore users.

The company said its subsidiary, Binance Asia Services, has withdrawn its application to the Monetary Authority of Singapore (MAS) for a license to operate a regulated cryptocurrency exchange in the city-state.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more