Vertex Ventures Southeast Asia & India and Vertex Ventures China have exited their investment in the Singapore affiliate of cryptocurrency exchange Binance, according to regulatory filings.
The funds, which are part of Temasek-backed Vertex Holdings’ global VC network, transferred their stakes in Binance Asia Services to Ireland-based Binance (Services) Holdings on Monday. The development coincided with Binance’s announcement that it was withdrawing its application to run a licensed crypto exchange in Singapore.
