Singapore-based DBS bank joins blockchain trade-finance network Contour to disrupt its letters of credit settlement process. Singapore-based multinational banking firm DBS Bank has joined the blockchain trade-finance network Contour, which is built over R3’s Corda. Contour is due for a main-launch later this year. According to a May 11 report by the business news outlet…
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The coronavirus pandemic is a make-or-break situation for crypto banks as many see opportunities despite the obvious setbacks. As 2020 staggers on, the scourge of the coronavirus is showing no sign of relenting any time soon. Since the reality of the pandemic took hold, it has revealed itself to be a black swan the likes…
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Cointelegraph confirms new details in KuCoin’s domain lock and legal troubles in Singapore. Last week, Cointelegraph reported that KuCoin’s primary web domain, Kucoin.com, had been locked by a Singaporean court. In a statement posted on its website and in its public Telegram channel throughout the past week, KuCoin alleged that our reporting was “unverified” and…
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A Singapore-based sports blockchain venture begins trading a token released by Italian soccer club, Juventus. Cryptocurrencies like Bitcoin (BTC) are not new to the sports industry. Some NBA teams began accepting BTC as payment for tickets as early as 2014. Since then, the relationship between sports and crypto has been rapidly evolving. Today, a firm…
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Bitget, a Singapore-headquartered digital asset platform, has obtained a license from the U.S. Financial Crimes Enforcement Network. While global cryptocurrency firms increasingly come to Singapore to benefit from its crypto-friendly ecosystem, some local firms are also expanding their operations beyond local jurisdiction. Bitget, a Singapore-headquartered digital asset platform, has obtained regulatory approval from the United…
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The Monetary Authority of Singapore exempted a number of crypto payment services from holding a financial license under the Payment Services Act. While Singapore recently adopted specific cryptocurrency legislation — the Payment Services Act (PSA) — in January 2020, it turns out that some crypto firms like Ripple, Coinbase and Binance have been exempt from…
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India’s Tech Mahindra said faster reconciliation and a reduction in paperwork are just two of the benefits of using the Marco Polo blockchain platform. Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, has become the first Indian business to use R3’s blockchain-based Marco Polo Network for conducting cross-border transactions. It said the platform…
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Singapore’s central monetary authority issued a new set of guidelines for digital payment token service providers on March 16. Some countries have been late to the party when it comes to recognizing and regulating digital assets. The first time that Singapore’s central bank issued a framework for the regulation of payment-related activities was on Jan.…
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KuCoin exchange establishes KuGroup, a core division of the company that will manage all three of the company’s businesses. Despite the ongoing global crisis fueled by intensifying coronavirus fears, Singapore-based cryptocurrency exchange KuCoin takes action to expand its services and restructure business. Backed by major venture capital firm IDG Capital, KuCoin exchange has established KuGroup,…
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One of the world’s oldest crypto exchanges, OKCoin, now allows users in Singapore and Brunei to trade the Singapore dollar against Bitcoin and Ether. OKCoin, one of the world’s oldest cryptocurrency exchanges, is continuing to expand its fiat-to-crypto onramps by adding support of the Singapore dollar (SGD). Starting March 12, OKCoin users can deposit and…
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