Gemini crypto exchange receives preliminary approval in Singapore
Gemini has received in-principle approval for a Major Payment Institution license in Singapore. Go to Source
Monetary Authority of Singapore
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Australian bank joins Project Guardian to explore RWA tokenization
Major Australian bank ANZ is interested in exploring how it can move its Australian dollar-backed A$DC stablecoin between blockchains. Go to Source
Okx Approved to Provide Cross-Border Payment Services in Singapore
Global crypto exchange Okx has secured a license from Singapore’s central bank, the Monetary Authority of Singapore (MAS), allowing it to offer digital payment token services. Gracie Lin, the newly appointed CEO of Okx’s Singapore entity (Okx SG), highlighted the significance of this license and Singapore’s role in the company’s growth strategy. Okx SG aims … Read more
US crypto firm BitGo wins payment license in Singapore
Before receiving the license, BitGo served users in Singapore and APAC, but the offering included only custody services from the US South Dakota Trust and hot wallets. Go to Source
Hex Trust gets initial nod for payment institution license in Singapore
Hex Trust previously obtained a license for custody services in Singapore, but a recent legislative amendment placed these firms under a new licensing scope. Go to Source
Ghana, Singapore conduct trade in semi-fungible token pilot project
Project DESFT is meant to encourage trade between small businesses using a CBDC and a stablecoin, with an emphasis on credentialing. Go to Source
Paxos to issue USD stablecoin in Singapore, wins initial approval
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. Go to Source
Singapore central bank releases regulatory framework for stablecoins
The framework outlines requirements for stablecoin issuers to meet to be deemed as regulated by the Monetary Authority of Singapore. Go to Source
Ripple gets in-principle nod for digital asset services in Singapore
Ripple says the “in principle” approval will help scale its “On-Demand Liquidity,” the service it uses to source XRP liquidity to customers. Go to Source Powered by WPeMatico
BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning
According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that stablecoins are not reliable because they lack the “institutional arrangements and social conventions behind them.” … Read more
