Tag Archives: singapore

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...

The Singapore Police Force has seized more assets in relation to an ongoing money laundering probe, bringing the total value of confiscated funds to more than S$2.4 billion. The reported figure notably doubled from the first operation in August. Seized Assets Worth Over S$2.4 Billion In a statement published on Sept. 20, the Singapore Police Force said the additional asset seizures happened following additional operations by the police. All assets seized by the authorities so...

Darshan Bathija – Chief Executive Officer of the cryptocurrency lending platform Vauld – revealed that the entity will implement several amendments, including appointing a new CEO. The bear market has significantly affected the Singapore-based company, which laid off a substantial chunk of its workforce in 2022 and suspended withdrawals and deposits. The problems did not end there, and Vauld filed for protection against creditors in July last year. What’s New Around Vauld?...

Singapore authorities have arrested 10 foreign nationals suspected to be involved in money laundering and forgery, among other illicit activities, and have seized or frozen cash, assets, and crypto worth over S$1 billion. While eight other suspects are on the run, the case could be considered one of Singapore’s largest money laundering crackdowns. Singapore Seizes Over $1B in Cash, Properties, and Assets The Singapore Police Force (SPF), in a Facebook post on August 16,...