Binance, the world’s biggest cryptocurrency exchange by trading volume, appears to be expanding its Singapore office. At the time of publishing, Linkedin showed that it had 261 job vacancies in Singapore — where its CEO, Changpeng Zhao, allegedly lives — among 964 vacancies globally. 

Fast facts

  • The talent Binance is seeking ranges from futures growth managers to content strategists and blockchain developers. Among the 261 jobs available, 259 were posted in July, with 244 at entry-level, associate-level or middle-senior levels. The remainder are internships, directorships or executive positions. By comparison, the bourse only has two openings in the U.S. and China, respectively. 
  • Binance has received warnings or is being investigated in 10 jurisdictions, but it has not received a rebuke from Singapore’s de facto central bank, the Monetary Authority of Singapore.
  • Binance operates in Singapore as Binance Asia Services, under an exemption from holding a license as part of transitional arrangements under the Payment Services Act for the provision of digital payment token services. Binance Asia Services’ licence application is being reviewed by the MAS, a spokesperson told Forkast.News.
  • Binance is not the only crypto exchange that is eyeing the Singapore market. Babel Finance, a Hong Kong-based crypto lender and asset manager that raised US$40 million in May, told local media earlier today that it has obtained a relevant license from MAS. Gemini, founded by Cameron and Tyler Winklevoss, chose Singapore as its Asia-Pacific headquarters and has seen “rapid growth” in the country. 

Correction: July 27, 2021

An earlier version of this news brief misstated that Babel Finance told local media that it has obtained a relevant license from the Monetary Authority of Singapore. Babel Finance says it has submitted an application but has not yet received a license from MAS.