Tag: Singapore

Umar Farooq, JPMorgan's Global Head of Financial Institution Payments, has projected that the bank's premier flagship digital asset, JPM Coin, will soon start processing daily transactions of over $ 10 billion within the next one or two years. Farooq shared this projection during an interview with Bloomberg Television on November ...

The Monetary Authority of Singapore (MAS) has initiated a significant collaboration with financial regulators from Japan, Switzerland, and the United Kingdom to foster the development of cross-border digital currency products and services.  In a statement released on October 30, 2023, the MAS announced the formation of a policymaker group, including ...

The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have completed a collaborative experimental test focused on cross-border trading and settlement involving wholesale central bank digital currencies (CBDCs). According to a report published by the Banque de France on September 28, 2023, the experimental ...

Singapore's Monetary Authority (MAS) has imposed a nine-year ban on Zhu Su and Kyle Davies, the founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC), for their alleged breaches of the country's securities laws. The MAS announced this decision in a statement published on September 14, 2023. This ...

Circle has announced a strategic partnership with Grab, a prominent ride-hailing and delivery company in Southeast Asia, to introduce Web3 payment services to consumers in Singapore. 1/ We are excited to unveil our partnership with @GrabSG to pilot #Web3 consumer experiences in Singapore through the integration of our new Web3 ...

Despite the liquidator's objections, a Singaporean court has ruled that the legal proceedings concerning the $140 million dispute between Teneo Capital, Three Arrows Capital (3AC)'s liquidators, and DeFiance Capital must take place within the country. These contested funds are currently managed by DeFiance Capital, an independently managed investment fund that ...

The Monetary Authority of Singapore has released the final draft of its regulatory framework for stablecoins. The updated framework, published on August 15, 2023, targets stablecoins pegged to the Singapore dollar or any major G10 currencies such as the Euro, British Pound, and United States Dollar. Central to the framework ...

Blockchain.com has made a significant stride in its expansion efforts across Asia. The crypto exchange revealed it had successfully obtained a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS), solidifying its commitment to regulated services in the region. The new licence empowers Blockchain.com to provide strictly ...

In a strategic move to broaden its donation options, the Singapore Red Cross has announced a partnership with Triple-A, the first crypto payment gateway authorized by the Monetary Authority of Singapore.  The collaboration, unveiled on August 7, 2023, now enables the organization to seamlessly accept cryptocurrency donations, a move anticipated ...

In a groundbreaking ruling on July 25, 2023, Judge Philip Jeyaretnam of the High Court of Singapore declared that cryptocurrencies are legally considered a form of property that can be held in trust. The ruling came in response to a case brought by ByBit against its former employee, Ho Kai ...