Tag Archives: singapore

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...

The digital asset trading venue Independent Reserve received approval from the Monetary Authority of Singapore (MAS) to provide crypto services in the Asian city-state. Additionally, the regulator also greenlighted the brokerage arm of DBS Bank. Independent Reserve Invades Singapore According to a recent report, the MAS enabled the Australian-based cryptocurrency platform – Independent Reserve – to offer digital payment token services to retail and institutional investors in...

The central banks of Australia, Singapore, Malaysia, and South Africa will reportedly launch a trial program to test cross-border payments employing different CBDCs. Their mission: to determine whether the move would enable more accessible transactions. The Multinational Partnership Central bank digital currencies appear to be an attractive financial instrument for numerous countries across the globe since many are exploring them as a financial instrument. While governments...

Binance is improving Singapore’s status as a cryptocurrency and bitcoin hub through its latest hiring maneuvers. The world’s number one digital currency exchange by daily trading volume has announced that it is bringing Richard Teng onboard as the new CEO for its Singapore office. Binance Is Expanding in Singapore Teng is a previous Singapore Exchange executive who’s got the skills the company needs to ensure digital currency protocols move forward appropriately. In a...

Singapore has become a big crypto haven in recent years, largely due to an alleged spike in coronavirus cases. Thanks to the pandemic, many citizens and residents of the country got scared about their financial situations and sought ways to keep themselves safe and wealthy during times of strife. Many People in Singapore Are Investing in Ethereum One of the ways to do this was by diversifying their portfolios, which means more crypto investments. However, rather than...

Nearly three-thirds of the Singaporean population has already invested in cryptocurrencies, with males under 34 being the dominant part. Interestingly, though, ETH is the most popular digital asset among locals, with BTC, ADA, and BNB trailing behind it. Singaporeans Like Crypto By partnering with CoinMarketCap and Seedly, the US digital asset exchange Gemini surveyed over 4,000 people in the Asian country to determine their general perception of the cryptocurrency landscape....