Binance Asia Invests in Private Securities Exchange

Dec 8, 2021Updated May 26, 20251 min read

Binance Asia Services, which operates Binance’s Singapore entity, has taken an 18-percent stake in Hg Exchange (HGX), a Singapore-based private securities exchange.

Binance Singapore will work with HGX in enhancing offerings of products and services supported by blockchain technology, following its strategic investment in the platform, according to an announcement on Wednesday.

HGX, founded by PhillipCapital, PrimePartners and powered by Zilliqa’s blockchain, aims to facilitate cross-border issuance and trading of securities. Earlier this year, the platform was granted a Recognised Market Operator license by the Monetary Authority of Singapore.

HGX announced its first trades in September 2020. As of mid-2021, the exchange has listed 13 different products, with a total average monthly trading volume exceeding $500,000 in the first half of the year. In addition to shares in private companies, HGX is working to list alternative assets including wines, art and real estate.

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Mei Ling Tan

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Mei Ling Tan is the Editor of Retail News Asia, where she leads the editorial team in delivering in-depth coverage of Asia’s dynamic retail landscape. With over a decade of experience in business journalism, Mei Ling is known for her sharp analysis, deep industry insights, and commitment to uncovering the stories behind Asia’s most innovative retail brands. Before joining Retail News Asia, Mei Ling held senior reporting roles at regional business publications, covering everything from consumer trends to digital transformation in retail. A graduate of the National University of Singapore with a degree in Communications and New Media, she combines journalistic integrity with a strong understanding of evolving market forces. Outside the newsroom, Mei Ling is a frequent speaker at industry panels and a mentor for young journalists.

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