Search results: Singapore

Stablecoins and CBDCs will likely co-exist in the city, experts say, as Hong Kong looks to thrive as crypto hub.

Top blockchain and crypto news: Bandwidth bust in Kazakhstan. Binance chief CZ tops rich list. Digital yuan app adoption grows.

The current technologies in use do little to deter crypto money laundering, writes Dr. Mark van Staalduinen. What can nations do about this?

How has layer-2 innovation saved Bitcoin from becoming a victim of its own success? Blockstream chief Adam Back explains.

A CryptoPunk is sold in a Shanghai auction house despite an existing crypto ban in China.

The world’s largest crypto exchange continues struggling to stay compliant, but it has seen some luck in the Middle East.

Looking beyond this year’s headlines like El Salvador’s Bitcoin adoption, here are the key developments in blockchain technology that will have lasting impact in the new year and beyond.

Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.

From China’s ban to FATF’s travel rule, crypto regulations have been top of mind this year. How might regulatory impulses and current trends play out?

Global shifts are underway in crypto regulations, writes Huong Hauduc of Bequant. How might the political and market forces play out next year?

Crypto finance platform XLD Finance wants to enable users to spend GameFi tokens and stablecoins to pay for real-world goods and services. Fast facts The company has launched its first project, xSpend, which allows users from Bangladesh, India, Indonesia, Malaysia and the Philippines to purchase mobile prepaid credits on the platform using GameFi tokens and stablecoins. Users may also pay Philippine-based […]

With Ethereum usage at all-time high, a Cosmos ‘bridge’ to other blockchains and Mastercard rollups aim to solve a major problem plaguing the Eth network.

Binance, the world’s largest cryptocurrency exchange, today announced that it has set up a joint venture with the venture capital arm of Telkom Indonesia, the country’s largest telecommunication company, to develop a new digital asset exchange there. Fast facts Binance said in a statement that it has teamed up with MDI Ventures — a US$830 […]

Crypto 1 will consider acquisition targets worldwide but steer clear of digital assets companies in China and Hong Kong. Are the lights dimming on a major crypto hub?

South Korean video game developer WeMade revealed today it has invested in Kasa, a blockchain-based digital asset-backed securities (DABS) trading platform with a focus on prop-tech — where information technology is applied to real estate economics. Fast facts Kasa is a platform where users can invest in commercial buildings with small amounts of money, similar […]

Crypto 1 Acquisition Corp., a U.S.-incorporated blank check company, has completed its initial public offering (IPO) with gross proceeds of US$230 million, according to a company statement released Friday. Fast facts The company’s units commenced trading on the Nasdaq Global Market under the ticker symbol “DAOOU” on Dec. 7. Acting as a special purpose acquisition […]

Gaming is increasingly defined by NFTs, play-to-earn and the metaverse, writes Charlie Baillie of Ampverse. Will Asia continue to lead the hottest gaming trends?

Banks releasing new stablecoin project meanwhile better watch for Fed taper in 2022

‘Team Pacquiao GG’ may be coming soon to League of Legends and Axie Infinity. But whatever happened to the former pro boxer’s Pac token?

Singapore-based cryptocurrency trading platform Coinhako has received backing from the SBI-Sygnum-Azimut Digital Asset Opportunity fund, with the fundraising round being three-times oversubscribed, according to a statement released today. Fast facts The fund is a venture capital fund co-managed by Japan’s SBI Group, Switzerland’s Sygnum Bank — which claims to be the world’s first digital asset […]

Crypto hit in market sell off, also Bitget reportedly suspended by MAS

Singapore-based crypto exchange had claimed the fan token would support BTS members — while the band’s agency denied any association with it.

Binance, the world’s largest cryptocurrency exchange by trading volume, is working to rebuild its operations in the U.K. after it was told to close down the business there back in June, the company’s CEO Changpeng Zhao, or CZ, told the newspaper the Sunday Telegraph. Fast facts CZ told the local press the company is making […]

A cabinet note suggests the government intends to regulate cryptocurrencies as assets with the Securities and Exchange Board of India at the helm.

Griid Infrastructure, a U.S.-based Bitcoin mining company, is set to go public through a merger with Adit EdTech Acquisition Corp., a special purpose acquisition company (SPAC), in a deal that would value the combined company at about US$3.3 billion, according to a company statement released Tuesday. Fast facts Upon completion of the deal, the combined […]

A former finance secretary says too much is yet unknown about the new crypto bill for investors to expect the worst.

Is CoinDCX — India’s first crypto company to achieve unicorn status, or US$1 billion in valuation — going public? CoinDCX co-founder Neeraj Khandelwal set off a frenzy of excitement when he told Bloomberg in a recent interview that CoinDCX may pursue an initial public offering as soon as legislation permits. But a CoinDCX spokesperson told […]

Hong Kong Stock Exchange-listed Huobi Technology Holdings today announced that it will be launching Huobi Lending, a cryptocurrency lending service for institutions and high net worth individuals (HNWI) through its new digital asset brokerage platform Huobi Brokerage, according to a company announcement. Fast facts Alongside growing institutional interest in digital assets, crypto lending services leveraging […]

The Federal Reserve Bank of New York has joined hands with the Bank for International Settlements (BIS) to launch an innovation hub in New York— dubbed the New York Innovation Center (NYIC) — to explore and build financial technology products for the central bank community. Fast facts The NYIC will focus on five areas — […]

Omicron hits markets meanwhile Japanese novel released as NFT

Singapore-based crypto exchange Coinstore has entered the Indian market despite the regulatory wrangle that points toward an impending ban on all private cryptocurrencies, the company announced today. Fast facts Coinstore has launched its website and mobile application for Indian users and plans to set up offices in Bangalore, Delhi, and Mumbai that will support its […]

As the NFT zeitgeist sweeps the world, the industry’s beating heart is in Asia, writes David Tng of TZ APAC. Here’s how Asia’s NFTs are changing business models.

Interest in cryptocurrency is being driven in part by ultra-low interest rates, Reserve Bank of Australia assistant governor Michele Bullock has said, while indicating the RBA is considering the creation of a central bank digital currency (CBDC) for use in wholesale markets, according to the Australian Financial Review. Fast facts Speaking at a Women in […]

Korea crypto tax debated meanwhile, Crypto.com is on a tear

Cardano ADA and Tron TRX will no longer be available to eToro’s US customers next year while CRO reflects Crypto.com ‘going from strength to strength.’

Hex Trust and Animoca Brands team up to tackle a key problem in gamefi.

BloXmove will use the Ontology blockchain to allow people to have one decentralized, secure identifier to share across multiple transportation apps.

Every morning at Upbit, the nation’s largest cryptocurrency exchange, a brief and odd surge in random altcoin prices takes place. Which crypto will it be tomorrow?

Joining the slew of cryptocurrency exchanges that have completed investment rounds in recent months, New York-based cryptocurrency exchange Gemini this week announced the close of a US$400 million funding round led by Morgan Creek Digital, bringing the company’s valuation to US$7.1 billion. Fast facts Investors in the funding round — which was Gemini’s first-ever outside […]

Taproot unlocks Bitcoin opportunities meanwhile Mintable aims big

Algorand (ALGO) — the native cryptocurrency of the Algorand blockchain — soared 50% from just under US$1.70 noon Asia time today to a new two-year high of US$2.66, according to CoinGecko data. But the surge was short-lived, with ALGO currently trading just under US$2 as of publishing time. Fast facts Algorand’s surge amidst the wider […]

Billions have been stolen through hacks from decentralized finance protocols, with Ethereum seeing the bulk of losses, according to a report by Elliptic.

How to sift through millions of NFTs before buying? NFT marketplace Mintable is hoping to attract more users with these new organizing and ranking features.

Following news of a strategic alliance with Big Four accounting firm Deloitte, AVAX rose above US$106, up 90% for the month.

Ethereum blockchain software company ConsenSys today announced the completion of a US$200 million funding round, bringing the company’s valuation to US$3.2 billion as it seeks to spearhead the growth of Web 3.0. Fast facts ConsenSys’ announcement comes as the number of monthly active users of its MetaMask non-custodial wallet product exceeded 21 million — a 38-fold increase from […]

Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.

First it was crypto derivatives FTX jumping into the game in Miami. Now Singapore-based Crypto.com has stepped it up a notch by dropping more than US$700 million to rename the iconic Staples Center in Los Angeles to Crypto.com Arena for 20 years, according to the Los Angeles Times. Fast facts This figure makes it one […]

In a speech, Ethereum creator Vitalik Buterin notes the rise in cities experimenting with crypto, DAO and NFTs. What are the possibilities of blockchain cities?

Circle invests in JYPC meanwhile Baby Shark NFTs announced

As Circle expands into Asia as part of a global expansion plan, what does the investment in a yen-back stablecoin mean for the market?

LuLu Exchange, a financial services company in the United Arab Emirates (UAE), and Pakistan’s Bank Alfalah are partnering to bring faster and more cost-effective cross-border payments and remittances from the UAE to Pakistan using RippleNet. Fast facts Bank Alfalah’s integration with RippleNet — Ripple’s global payments network for financial institutions — and its launch with […]

The creator of the Mirror protocol and its CEO Do Kwon have little recourse but to comply with the SEC subpoena to produce documents and testify.

First Digital Trust, a Hong Kong-regulated trust and custodian specializing in digital assets, has become the first official custodian of IX Swap, a security token and cryptocurrency exchange, according to a company announcement today. Fast facts IX Swap is a decentralized finance (DeFi) automated market maker and liquidity pool for security tokens and tokenized stocks. […]

The religious body’s decision comes after the country saw crypto transaction growth earlier this year.

Amid rising retail and institutional investor interest in cryptocurrencies like Bitcoin and Ethereum, investments poured into crypto firms in Southeast Asia in the first nine months of 2021 surged by over 400% compared with full year 2020 to US$356 million, according to the FinTech in ASEAN 2021 report by UOB, PwC Singapore and the Singapore […]

Trying to move beyond XRP, Ripple hopes its customers will join RippleNet with a wallet that supports fiat and other cryptos like Bitcoin and Ether.

From China’s crackdowns to El Salvador’s Bitcoin adoption, where is the world headed in how governments regard crypto? An expert panel explores the future of decentralized finance in the global economy.

What makes 2021’s roaring crypto market different from 2017’s are the banks and VCs piling in, writes Calvin Shen of Hex Trust. What’s behind their crypto adoption?

Speaking at the Singapore FinTech Festival, Ethereum’s creator discusses DeFi adoption and why he expects Ethereum’s ‘killer ecosystem’ to grow over the next few years.

Affinidi, a Singapore-based technology company founded by state-owned investment firm Temasek, today announced the launch of a new business unit called Finnovate that aims to serve millions of underbanked individuals and small and medium enterprises across Southeast Asia by leveraging on Web 3.0 blockchain technologies. Fast facts Affinidi Finnovate is partnering with the financial services […]

hashport, a public utility that facilitates the movement of digital assets between distributed ledger technology networks without the need for a native network token, today announced that it will launch on Nov. 9, according to a media statement. At launch, hashport will connect the Hedera public distributed ledger to the Ethereum and Polygon networks. Fast […]

The traditional financial industry is getting its feet wet in tokenization of assets, and there’s an influx of interest in the private asset space, as Mathew McDermott, managing director of Goldman Sachs, said today at a Hong Kong Fintech Week panel moderated by Angie Lau, editor-in-chief and founder of Forkast.News. Fast facts McDermott said Goldman […]

Blockdata co-founder Jonathan Knegtel thinks so. Almost a teenager, Bitcoin is reaching a level of maturity that’s defying the predictions of its critics.

22 private sector finance heavyweights together with the BIS and central banks of China, Hong Kong, Thailand, and UAE aim to achieve a production-ready international trade settlement platform using CBDCs.

The idea of the metaverse has gone from the realm of science fiction to the latest business model of major companies from Facebook to Nike. What do metaverses powered by blockchain look like, and why is there so much interest in Decentraland?

DBS Bank — Southeast Asia’s largest lender — intends to scale its crypto exchange as it invests in blockchain and wants to be nimble to adapt to how DeFi evolves.

Ethereum crosses the $4,600 mark for the first time and Solana overtakes Cardano as the fifth-largest cryptocurrency by market value.

Sebastien Borget, COO and co-founder of The Sandbox tells Forkast.News how NFTs and an open and decentralized metaverse is transforming the way we live, work and play.

Warning issued over K-pop crypto meanwhile Dog fight hits crypto market

The global AML watchdog provides clarifications on how crypto is to be regulated — and why DeFi could see more scrutiny.

The wild popularity of South Korean Netflix TV series Squid Game and K-pop boy band BTS prompt parody tokens in the crypto space under circumstances that are being called into question.

Even the most reliable media can report wildly different crypto numbers. Forkast.News dives into DeFi math and crypto exchange economics to find out who’s right.