Cryptocurrency ⁠exchange Binance remains in "close talks" with regulators in the European Union over its application to operate in the bloc ‌and is seeking to secure more licences in Asia, said its co-chief executive Richard Teng on Thursday.

"We are in close talk with regulators that invited us to apply (to) their regime. It's premature, so we shan't name which regulators, but we still continue to work very closely with EU regulators," said Teng, who was speaking in an interview at the Reuters NEXT Asia event in Singapore.

It comes as Binance, the world's largest cryptocurrency exchange, announced last month that it had withdrawn its Markets in Crypto-Assets Regulation (MiCA) licence application in Greece and is seeking ⁠to pursue authorisation in another EU member state.

Crypto companies must obtain a MiCA license by July 2026 to continue operating in the EU.

A senior executive told Reuters previously that the exchange intends to stay in the EU and will make a fresh push for permission to operate there, with the fate of its customers based in the bloc uncertain.

"It caught us by surprise, because we submitted a fully compliant regulation, ‌the regulators told ⁠us as much ... they were ⁠telling us that it will be approved," said Teng on Thursday.

"So we are not quite sure why the approval kept being delayed."

He added that the decision to withdraw the application was done to prevent Binance users in the EU ‌from facing a "short transitional period".

Teng, who leads Binance in a dual leadership structure ⁠with co-founder Yi He, said the exchange is also seeking licences across Asia.

Binance recently announced its expansion into the Philippines through a partnership with local fintech company Blockshoals Technologies.