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Tag Archives: singapore

Singapore Will Fully Regulate All Crypto-Related Activity

Singapore has announced plans to regulate all cryptocurrency activity from here on out.Singapore to Oversee All Crypto BusinessesThe Monetary Authority of Singapore (MAS) has issued new guidance on crypto usage and states that all companies that engage in crypto transactions or offer crypto trading and custody services will have to garner a license through the Payment Services Act. This new rule was passed in early January of this year. The idea is to put a halt on all crypto-related...

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The Bank That Called Bitcoin a Ponzi, Has Now Launched A Crypto Exchange For Institutional Investors

A few months following the soft-launch of the DBS Digital Exchange, the Singaporean multinational banking and financial services corporation announced the release of its digital asset trading venue. In addition, the investment holding company Singapore Exchange has announced it will take a 10% stake in the platform.DBS Digital Assets Officially AnnouncedCryptoPotato reported in late October that DBS Bank has successfully trialed its trading venue enabling institutional investors to access...

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SBI and Swiss SIX Exchange To Form A New Cryptocurrency Venture In Singapore

Japanese financial giant SBI Group and Switzerland’s principal stock exchange, SIX Swiss Exchange, will team up for a new cryptocurrency-related platform to establish institutional connections between Europe and Asia.The New Platform Will Launch In SingaporeAs per an official announcement, the digital asset-related arms of both companies – SIX Digital Exchange (SDX) and SBI Digital Asset Holdings – will cooperate to establish the new project. It will target regulated institutional clients...

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Singapore’s Biggest Bank Reportedly Launched A Bitcoin Exchange

Singapore’s largest bank, DBS Bank, has reportedly soft-launched an exchange offering fiat-to-cryptocurrencies trading pairs called DBS Digital Exchange.  According to the website and a few reports, it will enable customers to buy and sell four of the “top digital currencies in circulation” – Bitcoin, Bitcoin Cash, Ethereum (ETH), and Ripple (XRP). They will be traded initially against SGD, HKD, JPY, and USD. DBS Digital Exchange will not hold any cryptocurrencies. Instead,...

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Ben Weiss: The Next Big Blockchain Company Is Likely to Come Out of Singapore

According to Ben Weiss, the chief operating officer of Coin Flip, the next big tech company – comparable to the likes of both Amazon and Apple – will not stem from the United States but will instead be created within Asia.Ben Weiss: The Next Tech Company Will Come From AsiaHe says that the United States has fallen behind when it comes to cryptocurrency and the regulation necessary to keep crypto in check. While regulation ultimately goes against the decentralized nature of digital assets, he...

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Singapore Announces Two New Cryptocurrency Indexes

Singapore is looking to become a crypto leader by helping to set the price standards for both bitcoin and Ethereum, the two largest digital currencies around. Singapore Exchange Ltd. has recently announced that it is currently setting up two additional crypto indexes to help local and international traders better understand the prices of both assets and make smarter trading decisions from there.Singapore Looks to Lead the Fight for CryptoThe indexes will be known as the iEdge Bitcoin Index...

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Singapore Exchange and HSBC Come Together on a $300M Blockchain Bond Issuance

A joint venture between the British multinational investment bank HSBC, Singapore Exchange (SGX), and state-owned investment company Temasek has completed its first digital bond issuance of $300 million worth of corporate bonds on SGX’s digital asset platform by employing blockchain technology.$300M Of Corporate Bonds Replicated Digitally With DLTThe collaboration between the three entities, which began in 2019, has provided the first successful usage of SGX’s digital asset issuance,...

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Major Singapore Bank: Central Bank Interest in Crypto and Gold Surged Following COVID-19

The Singaporean multinational banking and financial services corporation DBS Bank has compiled a report on cryptocurrencies and the recent developments in the sector. The paper noted that central banks are both “troubled and intrigued” by the growing role of digital assets in today’s world, especially following the COVID-19 pandemic.DBS Bank: Cryptocurrencies Are GrowingHeadquartered in Marina Bay, DBS Bank is among the largest banks in the region. In its recent paper on cryptocurrencies, DBS...

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Singapore Gets a New Crypto Trading Platform Thanks to Diginex

Diginex is establishing a new cryptocurrency trading platform in Singapore, which has become a recent hubbub of crypto activity in the last few years.Singapore Has a Growing Crypto MarketAt the time of writing, the platform is exempt from necessary licensing procedures, meaning it can operate without having all its paperwork in order. In addition, the company is planning a Nasdaq listing in the coming weeks, so traders should be on the lookout if they are also intrigued by more traditional...

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UBIN: Singapur veröffentlicht Blockchain-Zahlungssystem

Schon bald könnte das kleine Land Singapur im Jahre 2020 den ersten Schritt zu einem echten Blockchain-Zahlungssystem voranschreiten, denn nach rund drei Jahren Entwicklungsarbeit hat die Regierung von Singapur das neue Zahlungssystem namens UBIN vorgestellt – das System ist nun auch für eine kommerzielle Nutzung frei verfügbar, sobald die letzte experimentelle Phase erfolgreich abgeschlossen ist. Das...

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