Tag: 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, ...

OKX has announced that its local branch, OKX SG Pte. Ltd., has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS). Meanwhile, Gracie Lin, a former official of the regulatory agency, has been appointed as the CEO of OKX SG. According to the press ...

Singaporean banking giant DBS has launched a blockchain-based solution that leverages smart contracts to simplify and expedite the distribution of government grants.  According to local media reports, DBS completed a pilot project in partnership with Enterprise Singapore and the Singapore Fintech Association (SFA). During the pilot, 27 local fintech firms ...

BitGo has secured the Major Payment Institution License from the Monetary Authority of Singapore (MAS), according to a recent press release from the firm.  The license positions BitGo as an authorized entity to offer regulated digital payment token services within Singapore.  According to the release, Singaporeans will benefit from the ...

HashKey Technology Services Pte. Ltd, the over-the-counter trading arm of HashKey Group, has officially received the Major Payment Institution licence from the Monetary Authority of Singapore (MAS).  This licence, granted under the Payment Services Act 2019, authorises HashKey OTC to provide digital payment token (DPT) services, cementing its status as ...

Hex Trust, a leading digital asset custodian, has obtained in-principle approval from Singapore's financial regulator for a major payment institution (MPI) licence. This development, announced on July 24, will enable Hex Trust to offer regulated "Digital Payment Token" services in Singapore, including custody and over-the-counter trading. According to the announcement, ...

Deutsche Bank, a German multinational investment bank, has announced its collaboration with Singapore's central bank to explore asset tokenization opportunities.  The bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian initiative, which focuses on tokenizing assets in wholesale funding markets and DeFi applications. The project is a multi-year ...

The future of the monetary system, as envisioned by Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), will consist of three crucial elements: central bank digital currencies (CBDCs), tokenized bank liabilities, and regulated stablecoins. Menon shared this insight in a panel session on the Future of ...

Popular stablecoin issuer Paxos is set to introduce a new U.S. dollar-backed stablecoin in Singapore, marking a significant step in its global expansion strategy. In an official statement released on November 15, 2023, Paxos revealed that it obtained an in-principle approval from Singapore's top financial regulator, the Monetary Authority of ...