Tag Archives: singapore

DBS Bank is implementing a blockchain pilot for government grant disbursements in Singapore. The pilot project initiatives to improve fund distribution and eliminate manual oversight. DBS Bank in Singapore has launched a ground-breaking solution that uses blockchain technology to enhance the disbursement of government funds, signaling a significant move toward efficiency and transparency. In a recent pilot, DBS teamed with Enterprise Singapore (ESG) and the Singapore Fintech Association...

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Blockchain analysis firm Nansen has identified DBS Bank, one of Singapore’s largest banking institutions, as a cryptocurrency whale. According to Nansen, a crypto wallet reportedly owned by DBS Bank holds 173,753 Ether (ETH), valued at around $650 million at the current market price. DBS Sitting on a $200M Profit? Nansen’s analysis states that the address, flagged on May 30, has already generated a paper profit of $200 million from its Ether holdings. We’ve identified this...

CoinspeakerEuropean Crypto Exchange Bitstamp Gets In-Principle Approval for Singapore Expansion An in-principle approval is a preliminary nod that the MAS issues to firms applying for the major payment institution (MPI) license. European Crypto Exchange Bitstamp Gets In-Principle Approval for Singapore Expansion

Singapore and Zurich, 25 January, 2024 – Global digital asset banking group Sygnum today announced that it has raised more than USD 40 million against an initial ~USD 35 million target in an interim close of its latest funding round, which is named the Strategic Growth Round. As of the completion of this interim close the company’s post-money valuation stands at USD 900 million. The Strategic Growth Round will provide the group with additional financing to expand into new markets and further...

The renowned Spanish football club Atletico Madrid is reportedly gearing up to take legal action against WhaleFin, a Singapore-based cryptocurrency exchange. The dispute centers around a breach of contract involving unpaid sponsorship fees amounting to €40 million ($44 million). Atletico Madrid Seeks $21 Million in Damages in Lawsuit Atletico Madrid, the esteemed Spanish football club, is preparing for a legal battle with WhaleFin, a Singaporean cryptocurrency exchange, over...

In spite of previous high-profile disappointments tied to the crypto industry, such as 3AC and the ill-fated investment into FTX, the Singaporean government has been approving quite a few crypto platforms during the past weeks. The latest to get the preliminary nod is the South Korean giant – UPbit. Spree Of Approvals Ripple, Coinbase,  and smaller players such as Sygnum and GSR have all been awarded an MPI (Major Payment Institute) license by the Singaporean government...

Sygnum granted capital markets services (CMS) licence for asset management in Singapore Following its in-principle approval of the MPIL in June this year, Sygnum Singapore has completed the licensing process and received the licence that enables it to activate the launch of the group’s regulated Digital Payment Token (DPT) brokerage service in Singapore. The platform, featuring a seamless fiat-digital asset gateway and trade execution for a range of...

On Wednesday, Ripple Markets APAC Pte Ltd announced that its Singapore subsidiary has successfully obtained a payments license from the Monetary Authority of Singapore (MAS) to operate in the city-state without transaction thresholds. This license represents a significant milestone for Ripple, allowing it to provide regulated digital payment token services in the city-state. MAS Approves Ripple’s License for DPT Services Ripple’s journey towards obtaining this license began...

Zhu Su, the infamous co-founder of the now-defunct crypto hedge fund Three Arrows Capital, has been reportedly apprehended in Singapore. This comes amid the amassing issues against his former hedge fund and his newly launched crypto exchange – OPNX. Citing an email update seen by The Business Times (Singapore), the report indicated that Su was apprehended at Changi Airport when trying to leave the city-state. Additional reports shed some more light on the matter, claiming...