Binance is making another attempt at obtaining a crypto license in Singapore, this time through its rebranded custody unit.
Ceffu – formerly known as Binance Custody before a 2021 rebranding – is planning to apply for a permit to offer payment services in Singapore, according to a «Reuters» report citing the unit’s vice president Athena Yu.
«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 [Monetary Authority of Singapore],» Yu said in a statement.
This marks yet another attempt by Binance to apply for a license in the city-state after the crypto giant withdrew an application in December 2021 due to «strategic, commercial and developmental» considerations.
