Paxos has secured full approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services, positioning Singapore as a key player in Paxos’s global stablecoin operations. The approval permits the issuance of stablecoins compliant with MAS’s forthcoming regulatory framework. DBS Bank Named Main Banking Partner as Paxos Secures MAS Approval Paxos, a…
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Google Trends data reveals a consistent increase in search interest for “CBDC,” which stands for central bank digital currency, over the past five years. The term has maintained a score above 20 since August 2022, on a scale of 1 to 100, where 100 signifies peak interest. CBDCs See Consistent Search Growth, Top Regions Include…
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In a move to improve traditional cross-border payments, the Bank for International Settlements (BIS) has announced the launch of Project Rialto. This project aims to enhance instant cross-border payments by integrating a modular foreign exchange (FX) component with settlement in wholesale central bank digital currencies (CBDCs). The initiative, a collaboration between the BIS Innovation Hub…
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This weekend, the Singaporean cryptocurrency firm QCP Capital reported a significant drop in market volatility after the approval of spot ethereum (ETH) exchange-traded funds (ETFs), despite ongoing catalysts. QCP highlighted that bitcoin is under bearish pressure due to potential new supply from the Mt Gox distribution, estimated at $9.6 billion, and from the DMM Bitcoin…
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Singapore’s central bank, the Monetary Authority of Singapore (MAS), has announced amendments to the Payment Services Act to impose additional requirements on digital payment token service providers and broaden the scope of regulated services. The central bank warned that entities that do not fulfill the requirements must cease the activities when the amendments come into…
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Grab, Southeast Asia’s leading e-hailing and food app, is now letting Grab Pay users in Singapore to seamlessly top up their e-wallet balances using cryptocurrencies. In partnership with digital assets payment provider Triple-A, Grab integrated the feature on March 12, the Straits Times reported. Triple-A, which raised $10 million in Series A funding on October,…
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Tokenize Xchange, a crypto exchange founded in 2017, has successfully raised $11.5 million in a latest funding round for expansion in Singapore. According to a recent report by The Straits Times, the Series A, Phase 2 funding round was led by the local venture capital firm Trive with other participants including high-net-worth individuals. Tokenize Xchange’s…
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European cryptocurrency exchange Bitstamp has received in-principle approval for its license application to offer digital asset services in Singapore. The approval, granted by the Monetary Authority of Singapore (MAS), allows Bitstamp to establish its presence in key markets in the Asia-Pacific region and globally, according to a Wednesday report by The Straits Times. Previously operating under…
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One analyst on X is concerned about the long-term sustainability of Worldcoin (WLD), a project aiming to build a universal digital identity system. While acknowledging the project’s innovative approach and recent upswing that has seen WLD more than 4X, the analyst thinks “Worldcoin will end in tears.” FDV Versus Market Cap Soars Doubt: A Massive Price Dump…
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Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news. In today’s crypto news: Asia Still Attractive to Crypto Players, But US Sees Increased Interest Post-ETF Approval Tokenization is Future of Finance, Despite Slump Bitfinex Reveals the Launch of TorogozDev’s New Lightning Node in…
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