Tag: Singapore

Singapore's wealth management sector is experiencing a significant shift, with high-net-worth individuals increasingly investing in cryptocurrency following Donald Trump's re-election. This unprecedented surge has led family offices and private investors to allocate larger portions of their portfolios to digital assets. In an interview with Nikkei Asia, Gerald Goh, CEO of ...

Federico Variola, the CEO of the recently hacked crypto exchange Phemex, has assured users that its cold wallets are unaffected by the exploit. Blockchain analytics firm PeckShield confirmed the breach, which happened on January 23, 2024, resulted in the loss of over $68 million from the exchange’s wallets across multiple ...

WazirX, an Indian cryptocurrency exchange, has reportedly received approval from the Singapore High Court for a restructuring plan to reimburse users who lost funds in a $230 million hack in July 2024. The court's approval, granted on January 23 under the Companies Act 1967, allows WazirX’s parent company, Zettai, to ...

Singapore appears to have edged ahead of Hong Kong in the race to become the leading crypto hub in Asia. Both cities are vying for dominance by introducing specialized regulatory regimes, tokenization initiatives, and innovation-driven sandboxes. However, Singapore's proactive licensing strategy and robust fintech initiatives may have tipped the scales ...

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 ...