Crypto-friendly Singapore Gulf Bank is reportedly seeking to raise a minimum of $50 million to expand its offerings and facilitate its acquisition of a stablecoin payments company in 2025. According to a Bloomberg report on November 25, the bank plans to secure the capital by selling up to 10% of ...
The local branch of Seychelles-based crypto exchange OKX has introduced fee-free deposits and withdrawals of Singapore dollars (SGD) for customers in Singapore, using the country's payment systems PayNow and Fast and Secure Transfers (FAST). The announcement, made on Monday, November 18, leverages the exchange's collaboration with DBS, a leading Singaporean ...
Deutsche Bundesbank, Germany's central bank, has officially joined Singapore's Project Guardian, a collaborative initiative aimed at advancing financial markets through asset tokenization. In a press release published on November 8, the central bank announced the move, stating that its intention was to strengthen cross-border collaboration and further explore the "standardization ...
Coinbase is strengthening its commitment to Singapore by establishing a new engineering hub designed to support local developers and broaden its reach across the Asia-Pacific region. In a blog post on November 6, the U.S.-based crypto trading platform announced that the new Singapore hub will focus on advancing blockchain development ...
Singapore regulators are set to enhance their tokenization initiatives in response to growing demand for tokenized assets in fixed-income, foreign exchange, and asset management markets. In a November 4 announcement, the Monetary Authority of Singapore (MAS) outlined its plans to foster the commercialization of these assets by developing market infrastructure, ...
Blockchain infrastructure firm Paxos has introduced a new stablecoin, USDG, in Singapore. USDG is backed 1:1 by the U.S. dollar, and it was developed in partnership with DBS Bank to meet the regulatory standards of the Monetary Authority of Singapore (MAS), according to Paxos' announcement on November 1, 2024. This ...
The Monetary Authority of Singapore (MAS) has launched the Global Finance and Technology Network (GFTN) as part of the second phase of its fintech growth strategy to position Singapore as a global leader in financial innovation. On October 30, the GFTN announced that it will take over from Elevandi, a ...
Gemini has received preliminary approval from Singapore's Monetary Authority (MAS) to offer cross-border money transfer and digital payment token (DPT) services in the country. According to the New York-based crypto exchange, this achievement underscores its commitment to adhering to the highest regulatory standards and reinforces its dedication to the Singapore ...
Singapore's leading financial institution, DBS Bank, has unveiled a new suite of solutions that incorporates tokenization and smart contract capabilities into its existing banking services. The new product, "DBS Token Services," combines the bank's Ethereum Virtual Machine (EVM)-compatible permissioned blockchain with its core payment engine and various industry payment systems. ...
Indian crypto exchange WazirX manages over 240,000 wallet addresses as part of its operations. This exchange disclosed this information as part of an affidavit set to be submitted to the High Court of Singapore in the ongoing debt restructuring process of its parent company, Zettai Pte Ltd. In its announcement, ...
