Tag Archives: singapore

Metro is now accepting stablecoins, including USDT, USDC, WUSD, and FDUSD. Singapore’s crypto-friendly rules promote stablecoin adoption. Singapore’s top department store chain Metro has joined forces with local crypto payments company DTCPAY to launch stablecoin payments in its offline stores and online shopping mall, Metro Mall. Tether’s USDT, Circle’s USDC, Worldwide Stablecoin Payment Network’s WUSD, and First Digital Dollar’s FDUSD can be used to make payments. The shift will increase...

On Nov. 5, crypto, venture capital, and fintech firms Anchorage Digital, Bullish, Galaxy Digital, Kraken, Nuvei, Paxos, and Robinhood announced the launch of the “Global Dollar Network.” The partners are combining resources and expertise to increase stablecoin adoption and expand real-world use cases with the launch of the Global Dollar USDG stablecoin. Paxos will be powering the stablecoin, which is compliant with the upcoming Monetary Authority of Singapore’s stablecoin...

A Singapore court has reportedly granted a four-month moratorium to Indian cryptocurrency exchange WazirX, following the company’s request for a temporary reprieve. The moratorium, however, comes with some conditions, including full transparency of the exchange’s wallet addresses and financial records. Court’s Conditions This development comes after WazirX was hit by a massive hack in July, which resulted in the loss of $234 million, affecting 45% of its customers’...

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...