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Cryptocurrencies

Crypto players jockey for Singapore position amid Binance clampdown

Luno, Matrixport and Cabital eye licenses to operate in the city-state

Cryptocurrency companies are keen to secure a foothold in Singapore in part to use as a base for regional expansion. (Source photo by Reuters and Akira Kodaka)

SINGAPORE -- Cryptocurrency service providers are jostling to secure a foothold in Singapore, even as the city-state's financial regulator keeps a tight leash on the digital assets sector -- as seen in the clampdown on Binance.com, one of the world's most popular crypto trading platforms.

Alongside the global boom in crypto trading, numerous companies providing services supporting the emerging industry have sprouted up, with many of them eyeing the Singaporean financial hub as a location from which to expand their businesses and stake a claim in Southeast Asia.

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