Binance plans to once again try to obtain a license to provide cryptocurrency services in Singapore, shifting from retail customers to corporate customers, Nikkei reported. Jarek Jakubcek, Binance’s director of law enforcement training, said that it will let its custody arm apply for a license to provide such services “when the time is appropriate” and that Binance has been improving its capabilities to meet the regulator’s requirements.

Binance launched a restructured business for corporate customers in Singapore at the end of November last year, renaming Binance Custody to Ceffu. The spinoff caters to professional investors looking for custody and other digital asset services. And it is this business that Binance hopes to license.