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.

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