DBS Bank, Singapore’s largest bank, has announced plans to launch over-the-counter (OTC) crypto options trading and structured notes for institutional clients in Q4 2024. This new offering will allow institutional investors to gain exposure to bitcoin and ethereum, the two largest cryptocurrencies by market capitalization. The initiative aims to provide sophisticated tools for managing digital…
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The over-the-counter (OTC) institutional cryptocurrency market saw a dramatic increase in spot transaction volume in the first half of 2024. A recent report by Finery Markets reveals a 95% year-over-year growth, highlighting a significant rise in institutional engagement. Institutional Interest Drives Massive Growth in Crypto’s Over-the-Counter Industry The Finery Markets team analyzed data from two…
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Hong Kong on Thursday announced a consultation on regulating over-the-counter (OTC) crypto trading. The Financial Services and the Treasury Bureau consultation seeks to establish a conceptual framework for licensing virtual asset OTC services. Under the regime, operators would be mandated to obtain licenses and comply with anti-money laundering and counter-terrorist financing rules. It states that…
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Although Eastern Asia – once a top market – has seen a decline in crypto activity over the past several years, Hong Kong may provide the region with “a potential tailwind,” according to research firm Chainalysis. While Hong Kong is rising as a global leader in the regulated digital asset market, it’s still unclear what…
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According to the Korea Customs Service report, the value of unlawful foreign exchange transactions made using digital currency was estimated to be worth $4 billion last year. South Korean regulators have turned their focus to over-the-counter (OTC) crypto trades amid growing concerns about their use for criminal activities. The financial regulators in the country are…
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Switzerland-based crypto-friendly SEBA Bank announced it has received an approval-in-principle to operate in Hong Kong. The regulatory nod brings the Swiss bank’s local entity closer to becoming a licensed provider of various services for crypto assets in the Chinese region. SEBA Bank Takes a Step Towards Full Crypto License in Hong Kong SEBA Hong Kong,…
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In a newly published report by the American investment management firm Ark Invest, the leading cryptocurrency, bitcoin (BTC), has found support from “strong holders and improved institutional sentiment.” Ark detailed that during the month of June, the supply of bitcoin that has not been moved for at least a year reached an all-time high of…
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With the BRC20 token economy maintaining a market capitalization of nearly $500 million, the introduction of the DRC20 token standard has sparked a flurry of excitement within the Dogecoin community. The emerging token type has ignited a surge of activity, leading to a substantial increase in daily transactions on the Dogecoin blockchain. Specifically, on Wednesday,…
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Paxful’s shutdown has left its global community heartbroken, but it has significantly impacted the Nigerian community, where it pioneered P2P crypto use. The shutdown of the peer-to-peer (P2P) cryptocurrency marketplace Paxful has left its worldwide community searching for alternatives, but it appears to have significantly affected the Nigerian crypto community. On April 4th, Paxful declared…
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