DBSV and Independent Reserve previously received MAS’ in-principle approvals to provide digital payment token services. Singapore’s principal financial regulator, the Monetary Authority of Singapore (MAS), has officially approved two companies to offer cryptocurrency services in the country. MAS issued Oct. 1 licenses to Australian crypto exchange Independent Reserve and DBS Bank’s brokerage arm, DBS Vickers…
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The crypto exchange giant has announced further restrictions to its operations in Singapore amid regulatory scrutiny. Binance has announced some changes to its crypto trading services for customers in Singapore. According to a statement on its website published on Monday, Singapore-based users will be geo-fenced from certain account functions on the Binance.com website. Binance users…
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Despite a blanket ban in China and regulatory crackdowns on exchanges in Korea, Asia remains a hotbed for crypto investments. Digital asset manager Cobo has raised $40 million to advance institutional pathways to decentralized finance products, offering compelling evidence that more Asia-Pacific investors are seeking secure access to the DeFi market. The Series B financing…
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“We are building the next generation of tools to help onboard the investors and traders who have been on the fence about crypto,” said Khairi Azmi. Singapore-based crypto lending platform Hodlnaut will partner with United States crypto exchange Okcoin in an effort to drive adoption and crypto transactions among users. In a Wednesday announcement, Hodlnaut…
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The Monetary Authority of Singapore placed Binance on its investor alert list on Sept.1 over concerns that the crypto exchange may have violated local payments regulations. Global cryptocurrency exchange Binance announced Sunday that it will roll back product offerings in Singapore amid warnings from financial regulators that the company may have violated payments laws. Beginning…
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The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With…
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Binance.US plans to close a major private funding round in the next two months to become more independent from Binance. Binance’s affiliate United States-based cryptocurrency exchange, Binance.US, is targeting an initial public offering (IPO) in 2024, according to Binance CEO and founder Changpeng Zhao. Binance.US is planning to close a large private funding round in…
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The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies. The central banks of Australia, Singapore, Malaysia and South Africa have announced a joint initiative to trial international settlements using central bank digital currencies (CBDCs). The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct…
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Thailand’s Bank of Ayudhya, where MUFG holds a 76.9% stake, has participated in a $41 million raise for Asia-Pacific-focused crypto trading platform Zipmex. Thailand’s Bank of Ayudhya (BAY) – in which Mitsubishi UFJ Financial Group (MUFG) holds a 76.9% stake – participated in the latest funding round for the Asia-Pacific-focused crypto exchange Zipmex. The $41…
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After posting tenfold crypto volume growth in Q1 2021, DBS Private Bank is expanding its crypto services with a new trust solution. DBS Private Bank, one of the biggest wealth managers in Asia outside China, has launched a cryptocurrency trust solution amid growing demand for digital assets. After setting up its own crypto exchange in…
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