Cryptocurrency trading platform Binance Singapore has announced the appointment of the former CEO of Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM), Richard Teng, as its Chief Executive Officer.
Richard Teng had this to say about his new role at Binance Singapore:
I am thrilled to be joining Binance Singapore at this pivotal time for the blockchain and crypto industry. I look forward to working with the talented team at Binance Singapore in furthering our business growth in a responsive and sustainable manner by meeting the needs of investors, adhering with best practices and complying with regulatory standards. We are witnessing rapid mainstream adoption of the blockchain and crypto technology, leading to the need for greater understanding and appreciation amongst individuals, institutions and governments.
Teng served as the CEO of ADGM for over six years, starting in 2015. He is currently a Board Director at Lulu Financial Group, an Advisory Board Member at the Blockchain Association Singapore and an International Council Member at the Global FinTech Institute.
Before joining ADGM, Teng was the Chief Regulatory Officer of the Singapore Exchange (SGX).
Founder and CEO of Binance, Changpeng Zhao, commented:
Richard is a seasoned Board and C-level leader with three decades of financial services and regulatory experience. We are delighted to have Richard leading the Binance Singapore team in securing more strategic partnerships, fostering innovation and furthering the local cryptocurrency ecosystem in Singapore.
Binance Singapore provides citizens in Singapore with the ability to trade cryptocurrencies such as Ethereum (ETH), Bitcoin (BTC), and Binance Coin (BNB). In addition, customers can deposit and withdraw Singapore Dollars from the platform via Xfers Direct, founded in 2019, backed by Vertex Ventures China and Vertex Ventures India and Southeast Asia.
Having gained a degree in economics, Alan entered the world of financial services starting his career in London and then moving to New York for a number of years. His first post at a City bank saw him establish a reputation as an forex trader. Having recently returned from New York after eight successful years, Alan is now a prosperous trader in his own right concentrating on commodities and forex.