City Singapore Financial News

Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, is expanding services after securing new regulatory approval from local authorities.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

While the worldwide search interest for the keywords “metaverse” and “NFT” boomed in the last quarter of 2021, Google Trends data shows that the hype may have passed since February 2022.

BEIJING — U.S.-listed Chinese electric car company Nio is set to offer its shares for trading in Hong Kong on March 10, the start-up announced Monday.

As the global cryptocurrency market is growing further each day, governments around the world are working harder to bring the industry under a regulatory regime. While some countries have managed to enact efficient regulations to cultivate the industry in a safe manner, others have created more uncertainty through opposing stances, and often skeptical stances.

UAE and Singapore are turning into crypto hubs as many exchanges are moving base

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Singaporean state investment firm Temasek Holdings Pte and other investors valued cryptocurrency-trading platform Amber Group at $3 billion in a funding round.

Barring Solana and Terra, all other top digital tokens were trading in lower. Avalanche tanked about 5 per cent, whereas Bitcoin dropped 2 per cent to below $40,000. Among gainers, Solana zoomed about 5 per cent. The global crypto market cap dropped about 2 per cent to $1.78 trillion mark. On the contrary, the total crypto market volume jumped more than 31 per cent to $70.68 billion.

The major Singapore-based bank DBS confirmed that it is planning to launch a retail-focused crypto trading desk in 2022, after last year doing the same for accredited investors and corporate customers.

DBS Bank, Singapore’s largest bank, is working on expanding its cryptocurrency exchange beyond its current investor base of institutional clients, according to the CEO.

Singapore's largest lender DBS Group reported a record full-year profit for 2021, and its CEO Piyush Gupta told CNBC last year was «one of the best years» he's seen.

In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.

crypto community, in reaction to central bank governor Shaktikanta Das' statement that private cryptocurrencies are a big threat to India's financial and macroeconomic stability, has said crypto assets could help unlock the country's innovation, job-creation and economic potential. Also, the exchanges said they praised the stance of the central bank and the government that customer protection is a priority. «The good thing is that the government and regulators have been very consultative in their approach to the industry, and there is broad understanding that customer protection is of utmost importance. It is encouraging to see India thinking progressively about crypto at par with global counterparts like the US, Dubai, and Singapore,» said Ashish Singhal, founder and CEO, CoinSwitch.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Founded in 2019 in Singapore, Phemex has been operating as a crypto derivatives exchange. The platform rose to the “top 10 global exchanges in less than two years, with a daily peak trading volume of more than $12 billion.” Cointelegraph talked to Jack Tao, founder and CEO of Phemex, about the difficulties and risks of running a crypto exchange and where he plans to take Phemex next.

Singapore has seen a tenfold increase in crypto-related investments last year worth $1.48 billion, up from $110 million in 2020, according to KPMG's Pulse of Fintech report.

A fundamental trait of crypto is as an asset class that transcends jurisdictions. Yet, one of the key hubs driving adoption and innovation is Asia. Since the heady days of Korea’s Kimchi premium and Bitcoin (BTC) arbitrage opportunities, the region is playing a role in defining crypto’s development pathways and anchoring its future.

FTX, the cryptocurrency exchange owned by billionaire Sam Bankman-Fried, is buying Japanese rival Liquid for an undisclosed sum.

Major crypto exchanges originating from Asia as well as from the West have shown an increasing interest in the Asia-Pacific region. 

DBS Group Holdings is set to acquire Citigroup’s consumer banking business in Taiwan in a deal the Singapore lender said will make it Taiwan’s largest foreign bank by assets.