Singapore Financial News

03.11 / 15:19

business Blockchain Stablecoin MasterCard Mastercard adds 7 blockchain startups to its crypto accelerator

Global payment giant Mastercard continues supporting cryptocurrency and blockchain startups as part of its fintech accelerator, the Mastercard Start Path program.

03.11 / 14:33

Ethereum JPMorgan Bitcoin Union Bank services Union Bank of Philippines Launches Crypto Trading Services – Which Coins Are Included?

Digital asset management technology METACO announced that the Union Bank of the Philippines is now live on its flagship platform Harmonize, to launch a pilot program for crypto custody and trading services for select retail customers.

03.11 / 10:01

cryptocurrency coinbase Nexo Vauld Backed Coinbase-backed Vauld seeks 4 months more on moratorium as recast talks continue

Troubled cryptocurrency lending platform Vauld’s parent Defi Payments has filed an application in a Singapore Court seeking a four-month extension of its moratorium till March 7, 2023.

03.11 / 05:39

business Blockchain Adoption JP Morgan executes first DeFi trade on public blockchain

Multinational banking firm JP Morgan has successfully executed its first ever cross-border transaction using decentralized finance (DeFi) on a public blockchain.

03.11 / 03:23

Blockchain Digital JPMorgan Pool defi protocols Cross-border BIS and three central banks to test cross-border CBDCs using DeFi protocols

With a primary focus on the ability to settle foreign exchange trades, the project involves the Eurosystem, Singapore and Switzerland BIS Innovation Hub Centres together with the Bank of France, Monetary Authority of Singapore and Swiss National Bank. The aim is to deliver a proof of concept by mid-2023.Today, DeFi built on public blockchains uses smart contract protocols to automate markets for crypto and digital assets.

03.11 / 02:45

Dash LUNC Terra Luna Terra Luna Classic Terra Luna Classic Price is Going to $0, But This New Traders Coin Can 30x by 2023

The Terra Classic (LUNC) coin was unable to halt its previous long downward rally and fell precipitously around the $0.000221 mark. Terra Classic is one of the few major cryptocurrencies that did not gain traction in the previous month.

03.11 / 02:05

Blockchain Digital CEO Pool Singapore Fintech Festival 2022: Inside Project Guardian

Under this first industry pilot, the banks conducted foreign exchange and government bond transactions against liquidity pools comprising of tokenised Singapore Government Securities Bonds, Japanese Government Bonds, Japanese Yen (JPY) and Singapore Dollar (SGD). Further, a live cross-currency transaction involving tokenised JPY and SGD deposits was successfully conducted and a simulated exercise was performed involving the buying and selling of tokenised government bonds.

02.11 / 21:03

business Blockchain Web3 Crypto executives discuss the emergence of Web 3.0 tech hubs around the world

Where are the top destinations for a career in crypto? For some, it’s traditional innovation hubs such as Miami or Silicon Valley. For others, it’s Singapore or Seoul. In addition, some would even argue that as long as you have a stable internet connection, irrespective of location, is sufficient for one to carve their own path in the realm of Web 3.0.

02.11 / 19:43

Blockchain Technology defi settlement International Bank of International Settlement will test DeFi implementation in forex CBDC markets

According to a new announcement on Wednesday, the Bank of International Settlement, or BIS, along with the central banks of France, Singapore, and Switzerland, will be embarking on a new initiative dubbed "Project Mariana" in its exploration of blockchain technology. Project Mariana intends to use decentralized finance, or DeFi, protocols to automate foreign exchange markets and settlement.

02.11 / 19:03

Ethereum coinbase DApp Bitcoin Union Bank defi protocols Crypto News Summary: DBS Adopts DeFi Protocols for FX & Government Securities Transactions, Union Bank of Philippines to Launch BTC & ETH Custody & Trading

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

02.11 / 17:51

Provident Digital Strategy Singapore Fintech Festival 2022: Deputy PM Wong sets the fintech agenda

Welcoming attendees back to an in-person event, Wong referenced the huge turnout, stating that this has proven that “human interaction is indispensable even in our digital age.” He also highlighted that serendipitous encounters at the event may lead to the next breakthrough innovation and with technology, companies and countries can become more resilient.

02.11 / 13:07

Digital JPMorgan Pool JPY defi protocols Global banks test DeFi protocols for FX and Government bond transactions

Under the pilot, DBS Bank, JPMorgan and SBI Digital Asset Holdings conducted foreign exchange and government bond transactions against liquidity pools comprising of tokenised Singapore Government Securities Bonds, Japanese Government Bonds, Japanese Yen (JPY) and Singapore Dollar (SGD). A live cross-currency transaction with real-world assets was conducted as an isolated exercise using tokenised JPY and SGD deposits, alongside a simulated test involving the buying and selling of tokenised government bonds.

02.11 / 12:47

Adoption Binance defi Report Blockchain Game BNB Chain DeFi ecosystem recovers almost one-third in three months

After a year-long struggle to fend off the market bears, parts of the crypto ecosystem started showing signs of recovery in the third quarter of 2022. BNB Chain’s Q3 report confirms significant growth in crypto trading volumes and decentralized finance (DeFi) but a drop in nonfungible token (NFT) trading.

02.11 / 09:19

Blockchain Stablecoin Paxos Usd Coin Stablecoin issuers Circle and Paxos gain approvals in Singapore

Stablecoin issuers Circle and Paxos have each received approvals for their respective licenses from the Monetary Authority of Singapore (MAS), the city-state's central bank.

02.11 / 07:17

Government Asia Singapore bank DBS uses DeFi to trade FX and state securities

DBS Bank, a major financial services group in Asia, is applying decentralized finance (DeFi) for a project backed by Singapore’s central bank.

01.11 / 19:05

Cardano SEC coinbase Bitcoin Crypto News Summary: Visa Masters of Movement FIFA NFT Auction, El Salvador Development Bank Won't Provide BTC Purchase Info, Coinbase Supports Ripple Against SEC

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

01.11 / 14:35

CBDC banking Indian CBDC: Indian Central Bank Begins Digital Rupee Pilot

The Reserve Bank of India (RBI), the country’s central bank, has started a pilot program of its digital currency today, in cooperation with nine banks. It also released a Concept Note on Central Bank Digital Currency (CBDC) for India.

01.11 / 01:23

business Blockchain Adoption education Decentralized Storage Alliance seeks to bridge the Web3 gap through education and advocacy

Decentralized storage network Filecoin has partnered with Protocol Labs and other participants within the Web3 ecosystem to launch the Decentralized Storage Alliance. According to the announcement, one of the main goals of the newly formed alliance is to help Web2 enterprises transition to Web3 through education, advocacy and best practices.

01.11 / 00:37

Adoption Stablecoins have a new name in Great Britain: Law Decoded, Oct. 24–31

The first full week under the leadership of the newly-elected Prime Minister Rishi Sunak saw a major landmark for crypto regulation in the United Kingdom. The Financial Services and Markets Bill, made public on Oct. 25, aims to enhance the U.K.’s position as a “global leader in financial services” — but what is more important is that it contains some new definitions for crypto products.

01.11 / 00:36

CBDC Adoption retail retail CBDC Singapore’s MAS says no urgent case for retail CBDC, but launches 4 fast trials of it

The Monetary Authority of Singapore (MAS) has wrapped up the first stage of its Project Orchid examination of a retail central bank digital currency (CBDC). According to the white paper released on Oct. 31, there is no “urgent case” for a retail CBDC in Singapore, but the study envisioned the infrastructure required in case a need arose. It also conceptualized a new model for digital currency — purpose-bound money — and pulled large Singaporean banks and government agencies into the research with a series of trials.

31.10 / 19:09

Ethereum Crime ETF Bitcoin Crypto News Summary: Asian Banking Giant Joins Singapore’s CBDC Effort, Hong Kong to Launch Crypto ETF, Argo Blockchain May Be Forced to Shut Down

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

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