Singapore Exchange (SGX), the region’s leading asset exchange, is gearing up to launch Bitcoin perpetual futures contracts in the latter half of 2025, marking a significant expansion into the crypto derivatives market.
An SGX spokesperson confirmed the development in a statement to Bloomberg on March 10, emphasizing that the offering will cater exclusively to institutional clients and professional investors, with no access for retail traders. Although a specific launch date has not been provided, SGX expects this development to significantly enhance institutional market access to Bitcoin.
Before launching, new futures contracts need approval from the Monetary Authority of Singapore. Perpetual futures, which do not have an expiration date, allow traders to speculate on Bitcoin prices without owning the asset. These products are already popular on offshore crypto exchanges, and Singapore has seen increased interest in such instruments, including Citadel Securities-backed ventures.
The regulatory landscape in Singapore has also seen recent developments. Cryptocurrency custodian Hex Technologies Pte. Ltd., a subsidiary of Hex Trust, secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Announced in a March 6 press release, the approval expanded Hex Trust’s ability to offer a full suite of financial services, including cross-border money transfers, custody solutions, OTC trading, settlement, and fiat on and off-ramp capabilities.
Meanwhile, the crypto trading landscape in Singapore continues to evolve. In mid-February, reports surfaced that Robinhood Crypto is preparing to launch its services in Singapore by late 2025. The platform aims to expand its trading business into Asia, with Singapore as its main hub. It plans to obtain additional regional licenses as part of its long-term strategy.
This expansion follows Robinhood’s $200 million acquisition of Bitstamp in June 2024, which aimed to enter the Singapore market under local compliance standards. Bitstamp has received in-principle approval from Singapore’s financial regulator, and the acquisition is expected to be finalized in the first half of 2025.
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