Singapore-based investment firm Whampoa Group aims to open a digital bank in Bahrain to offer payment and settlement services for crypto firms. In a recent statement, Whampoa Group said it plans to set up the bank, which will provide banking services as well as the trading, custody, and asset management of digital tokens, by the…
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The leaders of 10 Southeast Asian nations, members of the Association of Southeast Asian Nations (ASEAN), have agreed to “encourage the use of local currencies for economic and financial transactions.” The group comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. This move will help them reduce their reliance on the U.S.…
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Portuguese capital takes the top spot among the world’s most important crypto hubs – ahead of New York, Berlin, and Paris, according to a report by European crypto investment firm Greenfield. The company argued that, while there are multiple reports on global crypto development, regional reports are still scarce. Therefore, Greenfield conducted a survey from…
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Only 2.42% of claimants favor restructuring, and they are almost exclusively company directors. Withdrawals were frozen in August. Creditors of Singapore-based cryptocurrency lender Hodlnaut have again expressed their desire to liquidate the company, which has been under judicial management since August 2022. There is no white knight investor on the horizon, interim judicial manager (IJM)…
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China and Singapore will collaborate “on concrete initiatives that will catalyze capital flows to support a credible and inclusive transition to a low carbon future for our countries and the region.” Major Asian economies, China and Singapore, have set up a task force to deepen bilateral cooperation in green and transition finance. The move is…
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The lawmaker said the regulation will need to be both “pragmatic” and “proportionate” to ensure economic growth is maximized. The United Kingdom could lay out digital asset regulation within 12 months, a British lawmaker claimed, saying the country wants to capitalize on the benefits that blockchain can bring to the private sector and economy. In…
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A ruling from Singapore’s High Court originally allowed Zipmex a moratorium until December 2022 to handle debt relief amid reported liquidity issues. Cryptocurrency exchange Zipmex has requested another extension which would allow for a longer moratorium on its debt in Singapore amid the firm’s liquidity issues. In an April 18 announcement, Zipmex said it was…
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Crypto lender Amber Group is considering options for its Japan unit, including a potential sale, as part of its plan to focus more on institutional clients, managing partner Annabelle Huang told Bloomberg. Japan is a “very high-quality market, but regulations are strict,” Huang said, noting that the country is looking at revamping a number of…
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