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Binance unit plans bid for Singapore crypto license

"Once the relevant amendments to the Payment Services Act go live and the application for a custody license opens, Ceffu will make its official application with the MAS (Monetary Authority of Singapore)," the unit's Vice President Athena Yu said in a stat

"Once the relevant amendments to the Payment Services Act go live and the application for a custody license opens, Ceffu will make its official application with the MAS (Monetary Authority of Singapore)," the unit's Vice President Athena Yu said in a statement to Reuters. Late last year U.S. crypto exchange Coinbase, Crypto.com and DBS Vickers - brokerage run by Singapore's largest bank DBS - received similar approval from the central bank to offer payment services in the country. Binance has earlier faced challenges in Singapore.

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