Hg Exchange announces strategic investment from Binance

December 17, 2021 Hg Exchange Newsworthy


SINGAPORE, 9 December 2021 - Hg Exchange (HGX), Southeast Asia’s first member-driven private securities exchange and Binance Asia Services (Binance), the blockchain ecosystem and cryptocurrency provider behind Binance.sg, today announced a new partnership that will see Binance take a 18% stake in HGX.

HGX is Southeast Asia’s first member-driven private securities exchange founded by leading financial institutions PhillipCapital, PrimePartners, and Fundnel, and powered by Zilliqa’s high-performance blockchain. Earlier this year, HGX was granted a Recognised Market Operator license by the Monetary Authority of Singapore. On top of listing shares in private companies, the exchange listed the world’s first rare whisky-backed digital security tokens. Driven by strong demand, HGX is working to list similar alternative assets including wines, art and real estate.

The strategic partnership will enable both parties to reap synergistic benefits and collaboratively grow the blockchain ecosystem in Singapore on a greater scale.

Willie Chang, CEO of Hg Exchange, said: “Today’s announcement brings us closer to our goal of connecting a growing universe of investors with a growing universe of private market investments. Specifically, the investment will help accelerate HGX’s plans to strengthen its technology platform and seamlessly bring to market more exciting financial investments. The partnership would also serve to increase HGX’s market liquidity, improve performance and expand our investor community.”

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About Hg Exchange Hg Exchange (HGX) is a private exchange licensed and regulated by the Monetary Authority of Singapore. Its founders include PhillipCapital, PrimePartners, Fundnel and Zilliqa. HGX’s technology infrastructure is underpinned by advanced blockchain technology and proven exchange solutions to enable secure and efficient cross-border issuance and trading of both digital and non-digital capital market products. It aims to create an equitable trading platform by bringing operational transparency, fair competition and cost-efficiency to the private capital markets.