Quick Breakdown MAS warns that unregulated stablecoins have failed to maintain stability, drawing parallels to the 2008 money-market fund crisis. The new stablecoin framework prioritizes strong reserve backing and redemption guarantees. MAS’s BLOOM initiative explores the use of CBDCs and tokenized bank money in a unified digital ecosystem. Singapore moves ...
Read moreDetailsQuick Breakdown Coinbase Business launches in Singapore, marking its first global expansion outside the U.S. Standard Chartered's partnership enables SGD transfers and payment services for local businesses. Collaboration with MAS strengthens Coinbase’s role in advancing regulated digital finance in Singapore. Coinbase enters Singapore with new business platform Coinbase has officially ...
Read moreDetailsQuick Breakdown DigiFT to tokenize Hong Kong–listed Tayang Group Holdings (1991.HK) shares under MAS oversight. Marks the first HKEX-listed stock tokenized on a Singapore-regulated blockchain platform. Initiative bridges traditional markets with regulated on-chain finance for institutions. Regulated digital asset platform DigiFT has announced plans to tokenize shares of Tayang ...
Read moreDetailsQuick Breakdown MAS launches BLOOM to enhance global digital asset settlement using tokenized bank liabilities and stablecoins. The initiative builds on Project Orchid’s successful trials exploring a digital Singapore dollar. Collaborations with Circle, DBS, Stripe, and others aim to advance cross-border payments and financial innovation. MAS launches BLOOM to ...
Read moreDetailsAs the global crypto industry matures and shifts toward regulation, nations are jockeying for position as the world’s leading crypto hub. But what is a crypto hub exactly? It’s not just a regulatory safe haven; it’s a dynamic intersection of innovation, investor confidence, institutional participation, and public-private collaboration. Among the ...
Read moreDetailsQuick Breakdown Singapore High Court approves WazirX’s restructuring plan for post-hack recovery. The exchange lost $234M in July 2024 to a Lazarus-linked hack. User repayments could begin within weeks, though timelines remain uncertain. WazirX wins court approval to begin repayments Crypto exchange WazirX has received the green light from ...
Read moreDetailsQuick Breakdown OKX launches Singapore’s first stablecoin-powered scan-to-pay service, enabling payments with USDT or USDC at GrabPay merchant-partners. Users can pay by scanning a GrabPay SGQR code within the OKX SG app, with merchants receiving SGD instantly while funds are deducted from stablecoin balances. The service expands stablecoin utility beyond ...
Read moreDetailsQuick Breakdown: Hong Kong and Singapore launch regulated token corridor for cross-border settlements. Framework integrates licensed stablecoins, tokenized deposits, and wholesale CBDCs. Initiative sets precedent for global corridors across Asia, Europe, and the Americas. Hong Kong and Singapore are fast-tracking efforts to establish a regulated token corridor that could reshape ...
Read moreDetailsQuick Breakdown QCP Trading has secured a full MPI license from MAS to provide institutional crypto trading services. The firm plans to expand hiring in Singapore after growing its team by 40% in the past year. Singapore’s strict licensing regime has forced unlicensed exchanges to exit, with only 34 firms ...
Read moreDetailsSingapore’s DBS Bank is extending its crypto offerings by launching tokenized structured notes on the Ethereum blockchain, a move designed to increase access to sophisticated crypto-linked investment products for accredited and institutional investors. source: DBS Bank via Google DBS is changing the traditional model of structured notes, which typically require ...
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