The Monetary Authority of Singapore (MAS) has announced a global tokenization initiative that seeks to allow tokenized assets to be exchanged by different financial institutions across borders. The initiative, touted by MAS officials as the evolution of Project Guardian, a series of tokenization pilots carried by the institution, has the support of banking powerhouses like…
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Sources claim that 3AC co-founder Kyle Davies has been based in Bali for months as he continues to evade Singaporean authorities over the collapse of his failed hedge fund. Three Arrows Capital (3AC) co-founder Kyle Davies has reportedly been seen in Bali as he continues to evade authorities over the collapse of the defunct hedge…
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Source: Paxos Blockchain infrastructure firm Paxos has obtained a preliminary license from the Monetary Authority of Singapore (MAS) for its new entity. With the in-principal approval, Paxos Digital Singapore, the new entity, will offer digital payment token services to Singaporeans. Further, Paxos announced plans to launch a USD-backed stablecoin. In a Thursday statement, Paxos noted…
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The USD-backed token will comply with Singapore’s upcoming stablecoin laws and be issued through a new local Paxos entity that’s received initial approval. Crypto infrastructure firm Paxos has secured in-principle approval from Singapore’s regulator for a new entity that’s planning the launch of a U.S. dollar-backed stablecoin. In a Nov. 15 statement, Paxos said it…
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Source: AdobeStock / Alex Yeung Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. __________ Banking news SC Ventures, the innovation, fintech investment, and venture arm of banking giant Standard Chartered, announced the launch of Libeara, a tokenization platform that will enable the…
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Dtcpay, formerly Digital Treasures Center, is MAS-registered and already provides some point-of-sale and online crypto payment services. Singapore-based dtcpay is launching a payment system that will use fiat and cryptocurrencies for in-store and online payments. The company mentioned Tether (USDT), Ether (ETH) and Bitcoin (BTC) in its announcement. The company is partnering with open-source blockchain…
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Recovery from the crypto winter is proceeding, but Hodlnaut won’t survive it. A sealed court order in Singapore appears to spell its doom. Crypto lender Hodlnaut’s days appear to be numbered after the High Court of Singapore ended judicial management and ordered its liquidation. Users’ funds have been frozen since August 2022. Former Hodlnaut interim…
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A Singaporean payments firm has sealed a “cross-border” digital yuan cooperation deal with a major Chinese bank, in another breakthrough for the CBDC. Per the Shanghai Securities News, the deal was concluded by Thunes, a global payment infrastructure provider, and the China Construction Bank (CCB). The CCB is a state-owned financial institution that comprises one…
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A British investigative firm tracked down stolen funds and convinced the High Court of Singapore to mark the wallets containing the funds permanently with its order. The Singapore High Court has allowed financial investigation firm Intelligent Sanctuary (iSanctuary) to attach nonfungible tokens (NFTs) containing a legal document to cold wallets associated with a hack, according…
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Leading South Korean crypto exchange Upbit has been granted regulatory approval by Singapore’s main financial regulator. The authorization will allow the trading platform to provide regulated services in the Southeast Asian city-state which has established itself as a crypto hub. Upbit Singapore Gets In-Principle Approval for Major Payment Institution License The Singapore subsidiary of cryptocurrency…
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