Fidelity International and Citi have unveiled a proof-of-concept (PoC) for an on-chain money market fund (MMF) featuring a digital foreign exchange (FX) swap solution. This was announced ahead of the Singapore FinTech Festival 2024 happening from November 6–8. The solution jointly developed demonstrates the real-time settlement of tokenized MMF transactions
The Monetary Authority of Singapore (MAS) is planning to advance tokenization within financial services through a series of new regulatory measures. These initiatives are designed to foster commercial networks, enhance market infrastructure, and establish standardized frameworks for tokenized assets. Besides, the MAS is facilitating the commercialization under Project Guardian by
UBS Asset Management is making waves in the digital finance world by launching its first-ever tokenized money market fund, the UBS USD Money Market Investment Fund Token (uMINT), starting in Singapore. This innovative fund, built on Ethereum’s distributed ledger technology, aims to provide investors with a secure and efficient cash
Paxos has officially launched the Global Dollar (USDG), a US dollar-backed stablecoin, in Singapore. This move aligns with the Monetary Authority of Singapore’s (MAS) regulatory framework. Furthermore, the stablecoin’s reserves will be managed by DBS Bank, Southeast Asia’s largest bank, which ensures high compliance with financial standards. (1/4) Today marks
The cryptocurrency exchange Gemini, led by the Winklevoss Twins, has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its Major Payment Institution (MPI) license. NEW: Gemini receives In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its Major Payment Institution (MPI) license Application. This
While the Asian regions have been enhancing their crypto involvement, Singapore-based DBS bank announces a major step. Meanwhile, a recent survey showed that North America is home to the largest crypto market on the global level. These data and other cryptocurrency data from Q3 have also shown intriguing results. Notably,
In the last 24 hours, amid several news reports, the cryptocurrency sector witnessed the release of governmental institutions’ Bitcoin holdings data. The governmental reserves alone account for 2% of Bitcoin’s total supply. This indicates a widespread adoption of cryptocurrency in the global economy. Moreover, several banks have begun listing digital
WazirX, an Indian crypto exchange, has granted a four-month conditional moratorium by the Singapore High Court. Previously, WazirX had filed an application with the Court for a six-month moratorium, followed by the exchange suffering a $234 million exploit in July 2024. The conditions imposed on the exchange include disclosing its
The highly anticipated ‘Meet Your Meme’ TOKEN2049 Afterparty, hosted by LBank in collaboration with Shiba Inu, Babydoge, and SaitaChain, concluded with resounding success. The event brought together a vibrant crowd of meme enthusiasts, crypto innovators, and community members for an unforgettable evening filled with fun, creativity, and interactive experiences. Held
BingX, a prominent Singapore-based cryptocurrency exchange, has resumed withdrawal services for digital assets following a hack that resulted in $52 million in losses. Reportedly, the estimated initial loss of the security breach was $43 million. In an official X post on September 20, Chief Product Officer of BingX, Vivien Lin,
