Singapore Financial News

Ethereum's native token Ether (ETH) rose above $3,000 on March 22 as fresh data suggests Three Arrows Capital staked at least $110 million worth of ETH into Lido's liquidity pools.

The Bank for International Settlements (BIS)'s central bank digital currency (CBDC) project, known as Project Dunbar, has created more questions than answers, the international body said today. However, establishing a global network of connected CBDC platforms still remains a goal for the bank.

The project was organised along three workstreams: one focusing on high-level functional requirements and design, and two concurrent technical streams that developed prototypes on the Corda and Partior blockchain platforms.Andrew McCormack, head of the BIS Innovation Hub Centre in Singapore, says: "A common platform is the most efficient model for payments connectivity but is also the most challenging to achieve. Project Dunbar demonstrated that key concerns of trust and shared control can be addressed through governance mechanisms enforced by robust technological means, laying the foundation for the development of future global and regional platforms."Michele Bullock, assistant governor, Reserve Bank of Australia, adds: "Allowing entities to directly hold and transact in CBDCs from different jurisdictions could reduce the need for intermediaries in cross-border payments, but it would need to be done in a way that preserves the security and resilience of these payments.

Bank of International Settlement (BIS) Innovation Hub has completed an experimental central bank digital currency (CBDC) platform pilot for international settlement with the central banks of Australia, Malaysia, Singapore and South Africa.

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ConsenSys' valuation more than doubled to over $7 billion after its latest funding

ConsenSys, founded by Joseph Lubin, is an Ethereum blockchain firm.

A decentralized autonomous organization (DAO) has bought a South Korean national treasure – in what represents a remarkable first for the nation’s culture and crypto sectors.

Upon taking office in May, South Korean President-elect Yoon Suk-yeol vowed to zero tax crypto trading gains not exceeding 50 million won, approximately $40,000 similar to stock gains, according to Nikkei.

Hong Kong-based Hex Trust raised $88 million in Series B funding led by Animoca Brands and Liberty City Ventures, following which it saw its valuation rise to $300 million.

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Amid the United States and the European Union taking measures to prevent Russia from using cryptocurrencies to potentially evade sanctions, some countries in Asia have also been moving to respond to the situation.

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

A woman in Singapore has come out with womb-themed NFTs

Non-fungible token (NFT) projects have been hard hit by the price decline across the cryptocurrency ecosystem and the current bearish conditions have spared few tokens from a price collapse.

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In Asia, Singapore extends taxes imposing on Non-Fungible Token (NFT) transactions, according to local media CNA.

The Monetary Authority of Singapore, or MAS, has granted stablecoin issuer Paxos regulatory approval to offer crypto services to local companies.

Crypto.com airdroppped the LeBron James NFT series to fans by placing QR codes in Big Game ads.

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

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