According to Binance Custody’s official announcement, Binance Institutional SG Pte Ltd (“Binance Custody”) has officially launched institutional custody services in Singapore. Institutional clients operating outside Singapore that were previously served by Bifinity UAB will now be served by Binance Custody. Institutional clients in Singapore will Continue to receive qualified wallet storage and staking services. Binance also stated that in due course, Binance Custody will apply for a license from the Monetary Authority of Singapore.