Former CEO of Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM) Richard Teng has been appointed as CEO of Binance Singapore.
Binance Singapore – the leading fiat-to-crypto platform for trading cryptocurrencies in Singapore Dollars – has been building strategic relationships to drive innovation. With the appointment of Richard Teng, the company aims to secure more partnerships to further the local cryptocurrency ecosystem in Singapore.
Mr. Teng worked at the Monetary Authority of Singapore for 13 years, where he became the Director of Corporate Finance. He worked as the Chief Regulatory Officer of the Singapore Exchange, leading the regulation group responsible for policy, framework and rule formulation in the areas of listing, trading and clearing. Later, his services at ADGM gained international recognition for the company and himself, with a Forbes article labeling him “one of the world’s foremost innovative regulators”.
“I am thrilled to be joining Binance Singapore at this pivotal time for the blockchain and crypto industry,” Mr. Teng said. “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. We seek to work closely with industry leaders and policymakers to enhance understanding of this fast growing industry and support its sustainable growth.”
Changpeng Zhao (CZ), Founder and CEO of Binance, said: “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 is not only a leader in technology innovation — we will also be a leader in regulatory compliance. Having Richard joining us is a big step in that direction.”