Singapore-Based Vertex Ventures Funds Binance Crypto-To-Fiat Foray16.36

On early Monday morning, Changpeng Zhao, the world-renowned chief executive of Binance, announced that he was going to reveal “one more piece of good news” for his 233,000 Twitter followers. Just 12 hours after his tweet, which he jokingly referred to as a “pre-announcement of an announcement,” Bloomberg divulged that Vertex Ventures had invested in the popular exchange platform.

In early-September, Zhao revealed that Binance’s Singapore-based crypto-to-fiat platform was slated to launch into a closed beta phase for an exclusive group of investors. At the time, Binance’s top brass didn’t reveal what spurred this surprising move, leading crypto investors to ask many questions about one of the startup’s first fiat-supported ventures.

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