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Singapore Sovereign Wealth Fund GIC May Be One of Coinbase’s Backer

The cryptocurrency industry continues to elicit interest from mainstream financial services, the recent one being Singapore’s sovereign wealth fund GIC Pte. According to Bloomberg, it appears that the fund may have been involved in Coinbase’s USD 300 million funding round last year, citing people familiar with the matter, although neither of the companies had provided insight on the matter. However, …


Ethereum Foundation Awards $5 Million Grant to Parity Technologies for Ethereum 2.0

Ethereum Foundation Awards $5 Million Grant to Parity Technologies for Ethereum 2.0

In a blog post by the Ethereum Foundation yesterday, the non-profit arm of the Ethereum development network announced a grant of USD 5 million awarded to UK-based Parity Technologies. It would seem the grant was given to Parity Technologies to fund developments of Ethereum 2.0 in the areas of scalability, usability, and security. Specific areas of interest highlighted included Parity’s …


Crimean Blockchain Cluster Attractive to Foreign Investors, Says Muradov

Crimean Blockchain Cluster Attractive to Foreign Investors, Says Muradov

A press release published today by major local news media RIA Novosti says there is an increase in the demand for blockchain products and services within the Crimean region by foreign companies. Vice-Premier of the Crimean Government Georgy Muradov told the news agency that the blockchain hub and their potential is of particular interest to the Chinese. He said: “Our Chinese …


3,085 Bitcoins Subject of Singapore’s First Bitcoin Trial

3,085 Missing Bitcoins Subject of Singapore's First Bitcoin Trial

The first cryptocurrency trial in Singapore involving a claim of some BTC 3,085 due to a trade reversal by Quoine exchange began yesterday in Singapore International Commercial Court (SICC). On 19 April 2017, market maker B2C2 sued Quoine for the unauthorized reversal of 7 trade orders amounting to BTC 3,092 placed by the plaintiff on the defendant’s exchange platform. Quione …


Swiss State Secretary: Standards Not Regulation Will Boost Crypto Market

Swiss State Secretary: Standards Not Regulation Will Boost Crypto Market

Switzerland’s State Secretary has commented that fintech has moved beyond “hype-cycle” into a stage where standards are now more important than regulation. Secretary Joerg Gasser was speaking at this week’s Singapore Fintech Festival. The Swiss minister pointed out the increased demand for fintech regulation internationally was not necessarily in the best interest of promoting the industry. Improved market efficiency within …


Singapore Token Day Puts Crypto Center Stage on Bitcoin’s 10th Birthday

Singapore Token Day Puts Crypto Center Stage on Bitcoin's 10th Birthday

Singapore Token Day celebrated Bitcoin’s 10th anniversary with its own event to promote cryptocurrency and blockchain adoption on the South East Asian peninsula. The organizers promised that Singapore Token Day would be a national event lasting over two weeks between 31 October to 18 November, with a view to informing the uninitiated about all things cryptocurrency. The hope is that …


Singaporean Financial Regulator to Help Crypto Exchanges with Wary Banks

Singaporean financial regulator

The Singaporean financial regulator has stated that it is willing to support cryptocurrency firms that are having problems with setting up bank accounts in the city. Some crypto firms have complained against Singapore’s banking system which they argue has resulted in account closures or companies simply not being able to open business accounts. This has resulted in the Monetary Authority …


Singapore’s Central Bank Doesn’t Think Tokens are Securities

Singapore's Central Bank Doesn't Think Tokens are Securities

Singapore’s central bank, the Monetary Authority of Singapore (MAS), has said that cryptocurrency tokens do not fall under the definition of securities. Speaking at CoinDesk’s Consensus Singapore 2018 conference Wednesday, Damien Pang, who heads the MAS’s technology infrastructure office for fintech and innovation, said that after carefully analyzing the nature of tokens, the bank will not regulate them as securities. This is because utility …


Nasdaq Links With Singapore Stock Market in DvP Project

nasdaq

The Monetary Authority of Singapore (MAS) and the Singapore Stock Exchange (SGX) have announced a collaboration with Nasdaq as a key partner. MAS, which functions as Singapore’s central bank has partnered with Nasdaq, Deloitte, and Anquan to develop the technology to impart “Delivery versus Payment” (DvP) capabilities for tokenized asset settlement. According to MAS this will allow for; “…simultaneous exchange and …


Singapore VC Firm to Launch $10 Million Crypto Fund, Follows Blockchain Investment Trend

fund, cryptocurrency

Singapore-based Venture Capital firm Golden Gate Ventures is to launch a $10 million fund targetting crypto and blockchain start-ups that use innovative DLT, in what appears to be a growing investment trend. Golden Gate Ventures will call the fund LuneX Ventures and will be funded primarily by high net worth individuals. The main focus of LuneX investment will be aimed …


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