Binance has appointed executive Richard Teng, who joined the company less than two years ago, to head all regional markets outside of the US.
Teng took up his new post on May 29. According to a company spokesperson, Teng will be the executive in charge of the Asia, Europe, Middle East and North Africa regions. Teng, who joined the firm as Chief Executive Officer of Singapore in August 2021, has been able to rise rapidly during the turbulent times of the digital asset industry.
Binance Continues Non-US Operations
Alongside these developments, Binance announced that it will launch a new platform for residents of Japan after acquiring a local crypto firm, and recently obtained a digital exchange license for its joint venture in Thailand.
However, the derivatives business’s authorization was revoked pending a review of Binance’s local operations in Australia. Chia Hock Lai, chairman of the board of Blockchain Association Singapore, made statements on the subject. “Richard’s international experience and regulatory background, as well as his global relationships, will be an asset to Binance, which grapples with the complexities of the global regulatory environment,” Lai said in a statement.
Before joining Binance, Teng also held other senior positions in the traditional finance industry.
According to the executive’s LinkedIn profile, these roles include CEO of Abu Dhabi Global Market, chief regulatory officer at Singapore Exchange LTD, and director of corporate finance at the Monetary Authority of Singapore.
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