Tag Archives: singapore

Piyush Gupta – CEO of Singapore’s largest financial institution DBS Bank – believes cryptocurrencies could turn into an alternative to gold and its role in the current financial system. However, he doesn’t think digital assets could become “money as we know it.” Bitcoin on the Same Level as Gold DBS Bank’s top executive aired his thoughts on several popular cryptocurrency topics during a recent interview for The Economic Times. Similar to many proponents of the asset class,...

Sygnum Singapore – a subsidiary of Switzerland’s Sygnum Bank – received in-principle approval from the country’s top financial regulator to conduct three additional activities. These include providing corporate finance advisory services, dealing in capital market products, and offering custodial services. Sygnum to Enable More Opportunities Upon obtaining full approval from the Monetary Authority of Singapore, the digital asset bank will be able to leverage its existing...

After opening its very own institutional-grade digital asset exchange, Singapore-based DBS Bank is eyeing the expansion of a similar trading offering, but this time, catering to retail investors. It is expected to launch by the end of 2022. DBS’ Upcoming Retail Digital Assets Trading Desk DBS CEO Piyush Gupta believes that the expansion plans will take a lot of work, including potential fraud and others, but expects the launch of the platform by the year-end. On a recent...

Singapore is telling all crypto companies within its borders to cease advertising their products and services to members of the public. This rule also applies to any banks or traditional institutions that offer crypto. They are not allowed to produce any advertisements and they cannot show these ads in public areas like on buses or trains, websites, social media, physical ATMs, or broadcast and print media. Singapore Looks to Prevent Crypto Companies from Producing Ads...

The city-state’s central bank – the Monetary Authority of Singapore (MAS) – reportedly issued guidelines that limit crypto trading service providers from promoting such assets. The financial institution believes dealing with digital assets is highly risky and unsuitable for every investor. In addition, Australia’s top financial watchdog – the Australian Securities and Investments Commission (ASIC) – advised locals to restrain from investing retirement savings into bitcoin and...

To cater to the rising demand for digital asset funds, the Singaporean fund manager Fintonia Group has announced the launch of two institutional-grade funds tracking the performance of the world’s largest cryptocurrency. Fintonia Bitcoin Physical Fund and the Fintonia Secured Yield Fund are the two new products offered by the financial services firm regulated by the Monetary Authority of Singapore (MAS). Fintonia’s New Bitcoin Offering According to the report, the two...

The blockchain-focused financial services company – Circle – intends to establish regional headquarters in Singapore. The firm will also reportedly invest in a stablecoin backed by the Japanese yen through its newly-designed project – Circle Ventures. Circle Sees Opportunity in Asia According to a recent Bloomberg report, Circle – the issuer of the second-largest stablecoin, USDC – expects significant growth in the use of such tokens soon. Speaking on the matter was Jeremy...

Huobi Group will move its spot-trading operations to Gibraltar as The Financial Services Commission of the city-state has already greenlighted the initiative, according to a recent report. Gibraltar Caught The Attention of Huobi Following the total crypto ban imposed by the People’s Republic of China, many local companies started migrating their services outside the borders of the most populated country. Huobi Group – one of the leading Chinese digital asset exchanges – has...

Ravi Menon – the head of the Monetary Authority of Singapore – sees a lot of potential in the cryptocurrency industry. As such, he vowed that the local regulator will not ban the asset class but rather implement an appropriate regulatory framework on it. The executive also raised hopes that Singapore can become one of the global leaders in the cryptocurrency space. Banning Crypto Is Not on The Agenda In a recent interview for Bloomberg, Ravi Menon – Managing Director of the...

Bankers and government officials around the world are proving more welcoming to crypto than ever before. Tharman Shanmugaratnam – Singapore’s Central Bank Chairman – recently stated that cryptocurrency has a place in the country’s financial sector. All it needs are some regulations around illicit finance. A Place For Stablecoins The chairman showed his support at the Asia Financial Markets Forum on Wednesday. He said that the technology’s financial use-cases could extend...