Sopnendu Mohanty News

21.06 / 15:13

business Adoption Digital Currency regulation Digital Asset Singapore MAS proposes digital money standards with major industry players

The Monetary Authority of Singapore (MAS) released a proposal for a common protocol that would specify the conditions for the use of various types of digital currencies.

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.

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.

26.09 / 21:31

business regulation regulatory Singapore strives to remain relevant amid regulatory tightening for retail investors

Singapore's largest bank, DBS, has announced another move to expand its crypto services while remaining cautious in complying with the financial authorities' view that crypto assets are not suitable for retail investors in the country.

27.06 / 22:37

markets Bitcoin Bitcoin’s short-term price prospects slightly improved, but most traders are far from optimistic

A mild sense of hope emerged among Bitcoin (BTC) investors after the June 18 drop to $17,600 becomes more distant and an early ascending pattern points toward $21,000 in the short-term.

24.06 / 16:19

Stablecoin Bitcoin Threat NOT CBDC may threat stablecoins, not Bitcoin: ARK36 exec

Central bank digital currencies (CBDC) do not pose any direct threat to cryptocurrencies like Bitcoin (BTC) but are still associated with risks in relation to stablecoins, one industry executive believes.

24.06 / 08:23

Law regulation 'Brutal and unrelentingly hard': Singapore regulator's clampdown on crypto

Singapore’s financial regulator and central bank has pledged to be “brutal and unrelentingly hard” on any “bad behavior” from the cryptocurrency industry.

31.05 / 14:39

Blockchain Adoption defi Asset Tokenization Singapore to explore digital asset tokenization on public chains

The Monetary Authority of Singapore (MAS) has launched Project Guardian, a blockchain-based digital assets trial that will use tokenization. The project will include regulated financial institutions serving as "trust anchors," with a pilot involving JP Morgan, DBS Bank and Marketnode, the SGX joint venture for bonds.

31.05 / 13:37

COST Digital CEO Pool wholesale MAS to test DeFi applications in wholesale funding markets

Sopnendu Mohanty, chief fintech officer, MAS, says: “Through practical experimentation with the financial industry and the broader ecosystem, we seek to sharpen our understanding in this rapidly transforming digital assets ecosystem. The learnings from Project Guardian will serve to inform policy markets on the regulatory guardrails that are needed to harness the benefits of DeFi, while mitigating its risks.”The first industry pilot will explore potential DeFi applications in wholesale funding markets.

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