Binance Appoints New Head To Lead Expansion In International Markets

Key Points:

• Richard Teng, former CEO of Abu Dhabi Global Market and CRO at Singapore Exchange, will head all Binance regional markets outside the US.
• Teng’s international experience, regulatory background, and global relationships will be an asset in navigating the global regulatory landscape.

Binance has appointed Richard Teng, the former CEO of Abu Dhabi Global Market and chief regulatory officer at the Singapore Exchange, to head all its regional markets outside the United States.

The appointment expands his previous role leading Asia, Europe, the Middle East, and North Africa. Teng joined Binance in August 2021 as the Singapore Regional CEO and has since rapidly climbed the ranks amid a tumultuous time in the digital assets sector.

His expanded responsibilities come when Binance and its CEO, Changpeng Zhao, are under fire from US authorities over compliance issues. Outside of the US, there has been a flurry of developments, including launching a new platform for Japanese residents after buying a local crypto firm and a joint venture in Thailand securing licenses for digital exchange. In Australia, the permit for its derivatives business has been canceled pending a review of its local operations.

Teng’s international experience, regulatory background, and global relationships will be an asset to Binance as it seeks to navigate the complexities of the global regulatory landscape. The Blockchain Association Singapore’s board chairman, Chia Hock Lai, approved Teng’s appointment.

Before joining Binance, Teng held other senior positions in the traditional financial sector. His experience and expertise in regulatory compliance and corporate finance make him a valuable asset to Binance in the current regulatory environment. Teng’s swift and steady ascension at Binance is a testament to his capabilities and the company’s trust in him.

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