Binance is making another attempt at getting a license in Singapore, but this time as a custodian, according to a report from Nikkei Asia. The exchange’s custody unit, which it rebranded as Ceffu in early February, is applying for a Capital Markets Service license from the Monetary Authority of Singapore to provide custodial services in-country, according to a report. Binance says the name Ceffu is a reference to SAFU (Secure Asset Fund for Users), its insurance policy. As a custodian, Ceffu would only deal with institutional investors and high-net-worth individuals, not retail clients. (Coindesk)
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