Singapore Crypto Exchange Considers IPO After 500% Trading Growth: Report
Coinhako was launched in 2014 with backing from venture capitalist Tim Draper.
Teng, who has become a member of the board, brings a wealth of experience from the financial and fintech sectors across multiple countries.
Singapore received an Independent Reserve Cryptocurrency Index score of 63 for crypto awareness.
The digital currency exchange said the approval relates to becoming a regulated provider for digital payment token services.
The higher level of interest will benefit the reputation of crypto overall, he said.
The company will open offices in Australia and Hong Kong.