Vertex Ventures is a subsidiary of Singapore-based government-owned investment company Temasek Holdings, which manages $223 billion in assets. The company was founded in 2015 as a global network of operator-investors, who manage portfolios in the U.S., China, Israel, India and Southeast Asia. The company focuses on early-stage investments and currently has around $2.5 billion under management.
According to the release, the investment is a joint effort between Vertex Ventures China and Vertex Ventures Southeast Asia and India, and aims to support Binance in developing a cryptocurrency-fiat exchange in Singapore, along with other crypto-fiat services throughout South Asia. Binance initially announced its plans to build a crypto-fiat exchange in Singapore in September.
This month, Binance also partnered with crypto compliance provider and research firm Chainalysis in order to improve its detection of suspicious transactions. Chainalysis will purportedly ease the process of KYC and AML compliance programs through the use of real-time monitoring to track the provenance of each transaction made on Binance’s platform.
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