Binance appoints Richard Teng to head international markets, excluding the US, driving global expansion and compliance in Global Markets.
This promotion expands his prior responsibilities as the leader of Asia, Europe, the Middle East, and North Africa. Teng joined Binance in August 2021 as the Singapore Regional CEO and has since rapidly risen through the ranks during a turbulent period for the Digital Assets industry.
His expanded responsibilities come when Binance and its CEO, Changpeng Zhao, are under fire from US authorities over compliance issues.
Outside of the US, there has been a flurry of developments, including launching a new platform for Japanese residents after buying a local crypto firm and a joint venture in Thailand securing licenses for digital exchange.
In Australia, the permit for its derivatives business has been cancelled pending a review of its local operations.
Binance will benefit from Teng’s international experience, regulatory expertise, and global connections as it navigates the complexities of the global regulatory landscape. Chia Hock Lai, the board chairperson of the Blockchain Association Singapore, approved Teng’s appointment.
Before joining Binance, Teng held other executive positions within the conventional financial sector. In the current regulatory environment, his knowledge and experience in regulatory compliance and corporate-finance make him a valuable asset to Binance.
Teng’s rapid and consistent rise at Binance is evidence of his abilities and the company’s faith in him.
