Crypto exchange Binance has announced the appointment of Richard Teng as its head of regional markets outside the US.
Teng, who joined the world's biggest crypto exchange in August 2021 as its chief exec for Singapore, currently oversees the company's Asian, European, Middle Eastern and North African business.
Prior to Binance, Teng served in the traditional financial sector in roles such as chief exec of Abu Dhabi Global Market, chief regulatory officer at Singapore Exchange and director of corporate finance at the Monetary Authority of Singapore.
His promotion comes at a tumultuous time for Binance. The company is currently facing pressure from US lawmakers over compliance issues. Binance withdrew from Canada earlier this month after the country set tight regulations for crypto asset trading, and saw its Australian financial services licence cancelled last month amid an ongoing probe.
The company however is expanding in other markets. It plans to launch a new platform in Japan this summer after acquiring local crypto firm Sakura Exchange BitCoin last year, while its joint venture in Thailand recently secured licences for a digital exchange.
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