Singapore

The US$5 million fund aims to help Vauld users who can’t withdraw their assets from the platform.

The MAS said that its previous tokenization pilots demonstrated great potential benefits of the technology.

Singapore’s major payment institution license will enable Upbit to continue offering regulated digital asset services while awaiting its full license.

The largest U.S.-based cryptocurrency exchange will be launching more products and services in the Lion City, Coinbase’s Hassan Ahmed says.

Welcome to Forkast IQ, presented by Forkast’s Megha Chaddah, where we look beyond the headlines to get you insights that power smarter decisions.

The Asia-Pacific branch of Ripple Labs has received a Major Payments Institution license from the Monetary Authority of Singapore.

The Major Payment Institution license from Singapore’s central bank allows the exchange to expand its digital payment token services in the Lion City.

Now a top-ranked crypto hub, Singapore is a shiny example of the central role that government can play in nurturing industry growth while bolstering consumer protections.

Funders see the novel social media network as emblematic of an abundance of opportunity in crypto and DeFi amid infrastructure gaps and increased integration with real-world assets

We bring you to one of the biggest crypto events in Asia.

Zodia Custody owned by Standard Chartered, announced Tuesday that it is launching its services in Singapore for financial institutions.

As the 2023 G20 Summit is set to kickoff over the weekend, we take a closer look at India’s role in kicking off its crypto regulation agenda.

Top blockchain and crypto news: Coinbase steps up to fill void of crypto lenders. NFTs extend losses. What’s next for crypto as Singapore gets a new president?

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Top blockchain and crypto news: Singapore steps up stablecoin rules. DeGods decline. Hong Kong’s third crypto license.

The Monetary Authority of Singapore unveiled a stablecoin regulatory framework on Tuesday as the city-state aims to become a global hub for the crypto industry.

Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

As the US is engulfed in regulatory strife, Asian countries are rolling out legal frameworks that attract crypto investment, protect consumers and encourage innovation.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Hong Kong, Japan, Singapore and Thailand have regulations supporting the growth of tokenization, showing the world the benefits of fractionalizing assets.

Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.

Singapore-based DBS bank has introduced a “merchant collection solution” using e-CNY – China’s central bank digital currency – to allow corporate clients of DBS China to collect payments from their customers in e-CNY, and avail the automated settlement of e-CNY directly into their bank deposit account.

Cryptocurrency service providers in Singapore will have to keep customer assets under a statutory trust before the end of the year, for safekeeping purposes, the city state’s central bank announced Monday.

Ripple Labs’ Asia-Pacific branch is offering digital payment services in Singapore after receiving in-principle approval of its license application from the MAS on June 22. What does that mean for the company’s Asia business?

Top blockchain and crypto news: Fidelity Investment is reportedly close to filing its own Bitcoin ETF. NFT traders seek liquidity. Singapore eyes asset tokenization.

The Monetary Authority of Singapore (MAS), the city state’s central bank, has proposed a framework for designing open, interoperable networks for digital assets, developed jointly with the Bank for International Settlements and other financial institutions. 

The Asia-Pacific arm of San Francisco-based technology firm Ripple Labs saidThursday it received in-principle approval to start offering digital payment services in Singapore.

The Monetary Authority of Singapore (MAS) released on Wednesday a whitepaper for “purpose bound” money, detailing a technical overview of digital currencies designed for specific purposes.

Independent Reserve may have a new Hong Kong office in the “next few months,” the Singapore chief of the Australian crypto exchange said in an exclusive interview. Focusing on institutional clientele, the exchange aims to double trade volumes and expand its user base this year.

The SEC’s one-two punch of Coinbase and Binance couldn’t have come at a better time for Hong Kong and Singapore, as US crypto firms look to shift to friendlier shores, writes Hamilton Keats of Krayon Digital.

From US crackdowns on Binance and Coinbase to new business-friendlier frameworks in Hong Kong and Europe, seismic shifts in crypto regulations are under way.

Circle Singapore said Wednesday it has received a Major Payment Institution license from the Monetary Authority of Singapore.

Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.

Temasek, Singapore’s state-owned investment firm, said on Monday that it has cut the pay of senior management and the investment team involved in the decision to invest in the now-bankrupt FTX cryptocurrency exchange.

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

OCBC Bank will offer tokenized equity-linked structured notes to accredited investors, in a partnership with private market exchange ADDX.

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

Hong Kong will allow licensed cryptocurrency trading platforms to offer services to retail investors and will implement a slew of measures to protect individual traders, the Securities and Futures Commission (SFC) said on Tuesday.

Temasek, Singapore’s state-owned investment firm, has denied that it had invested in Array, an algorithmic cryptocurrency developer.

The Monetary Authority of Singapore is reportedly working on guidelines to help local banks vet and provide banking services to cryptocurrency clients

Seychelles-based cryptocurrency exchange Bitget said it has invested US$30 million in decentralized multi-chain wallet BitKeep to become its controlling shareholder. 

The Monetary Authority of Singapore (MAS) aims to publish cryptocurrency and stablecoin consultations feedback by the middle of this year, it said Monday.

Unique in the world, Singapore is a big investor and player in digital assets while advancing regulations that favor institutions over individual crypto users, writes Danny Chong of Tranchess.

Singapore’s police have begun investigations linked to Terraform Labs that was co-founded by fugitive Do Kwon, according to a Bloomberg report.

DBS bank’s digital exchange, which serves institutional clients, said macroeconomic conditions last year were not suitable for security token offerings (STO), but it will explore opportunities for such listings in 2023 and plans to add more crypto tokens.

Crypto industry’s interaction with regulators is important and quite common in Asia but missing in the US, says Brooks Entwistle of Ripple Labs.

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021. 

Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.

Creditors of Singapore-based crypto lending and borrowing platform Hodlnaut have rejected a proposed restructuring plan and wish to liquidate the company.

Innovation and regulation are mutually exclusive in the world of crypto – and in the aftermath of the FTX collapse, getting the balance right is key.

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?

Asset tokenization and DeFi hold tremendous potential for the finance sector, writes Han Kwee Juan of DBS Bank. Here’s how the Singaporean government is at the forefront of change.

Singapore-based crypto lender Matrixport is hoping to raise US$100 million at a valuation of US$1.5 billion, according to a Bloomberg report citing unnamed sources.  

Singapore’s white-collar crime unit is investigating Hodlnaut on allegations of fraud, according to a statement on the website of the Singapore police dated Nov. 23.

The Bank of Japan, the country’s central bank, will conduct experiments with three megabanks and regional banks on a digital yen, according to a report by Nikkei on Wednesday. 

Singapore-based DBS bank, the largest lender in Southeast Asia, has said it is the first bank in Asia to complete an intraday repurchase transaction on a blockchain-based network. 

The Monetary Authority of Singapore (MAS) said on Monday that it was not possible for the central bank to protect local users from FTX’s collapse as the crypto exchange operated offshore and was not licensed by MAS.

South Korea, Singapore and Japan were the biggest users of FTX.com based on the number of monthly unique visitors from January to October 2022

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

Temasek says its belief in Sam Bankman-Fried may have been ‘misplaced.’

The Monetary Authority of Singapore (MAS) has partnered The New York Innovation Center of the Federal Reserve Bank of New York, to study if wholesale central bank digital currencies (wCBDCs) can make cross-border payments more efficient.

Central bank digital currencies draw fire over inflation, privacy and threat to innovation, as questions raised over status of stablecoins in digital asset ecosystem.

HashKey Capital Singapore, an investment arm of Hong Kong-based HashKey Group, said on Friday that it received an in-principle approval for the Capital Markets Services license from the Monetary Authority of Singapore (MAS).

U.S. computer scientist Stuart Haber, recognized with Scott Stornetta as the co-inventor of blockchain, says he is excited to see the evolution of the technology, not only in the financial sector, but also in entertainment, business, and technology industries.

London-headquartered banking giant Standard Chartered announced on Thursday that it had invested in the blockchain-based interbank settlement platform Partior, a joint venture of JP Morgan, DBS bank and Temasek.

Hong Kong and Singapore are now locked in a battle over the future of crypto in Asia – but who will emerge victorious?

The Monetary Authority of Singapore (MAS) wants to build the city-state into a “crypto hub” fueled by instant settlements, tokenized assets and programmable money, not “speculating in cryptocurrencies,” Ravi Menon, the central bank’s managing director, said at the Singapore FinTech Festival on Thursday. 

The MAS launched Project Ubin+ on Thursday, a collaborative initiative with international partners to explore cross-border foreign exchange settlements using wholesale CBDC.

Digital asset and blockchain highlights of event draw huge crowds, even as industry figures say they want the technology behind them to become just a normal component of the finance system.

The Bank for International Settlements (BIS) has launched a new project with the central banks of Singapore, France and Switzerland to study the possibility of integrating some decentralized finance (DeFi) features with central bank digital currencies (CBDCs). See related article: mBridge participants to end domestic payments of foreign CBDCs Fast facts The BIS announced on […]

Singapore-based StraitsX, a payments infrastructure for digital assets, will pilot stablecoin applications at the ongoing Singapore Fintech Festival. 

DBS, the largest bank in Southeast Asia, said it tested trading of foreign exchange and government bonds using permissioned decentralized finance (DeFi) liquidity pools on a public blockchain as part of the city-state’s Project Guardian exploration of blockchain in finance.