Singapore: Asia’s Leading ICO Hub?by Fintechnews Singapore December 1, 2017
Intitial Coin Offerings or more popularly known as ICOs has seen tremendous growth and is increasingly seeing mainstream adoption by startups as a method to raise fund. In the last year year alone we’ve witnessed more than 200 ICOs with over $3.3 billion USD raised.
A study conducted by FunderBeam has indicated that Singapore is the 3rd largest ICO hub in the world, and the leading hub in Asia. We’ve observer notable deals in recent times, among which, is TenX who raised 80$ million USD through its PAY tokens.
In our previous article we’ve also spoken about notable ICO in 2016 where we’ve seen companies like Digi-X raising over $5.5 Million USD in under 12 hours.
While much of the world’s regulator have not officially issued any formal regulation or guideline ICOs, the Monetary Authority of Singapore has issued ICO guidelines during the Singapore Fintech Festival. Singapore regulatory clarity plays a huge role in Singapore current success as Asia’s leading ICO hub, the continued openness by the regulator will no doubt further cement it position.