Digital Assets

VCs, Industry Players Bullish on Long-Term Prospects Despite ‘Crypto Winter’

The cryptocurrency market is down significantly since the end of 2021, with the overall market losing nearly 70% of its value from its last all-time-high levels of nearly US$3 trillion in November 2021. But despite what some are referring to

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Singapore’s Fintonia Secures Provisional Virtual Assets License in Dubai

Singaporean crypto fund manager Fintonia Group announced that it has secured a provisional virtual asset license granted by the Dubai Virtual Assets Regulatory Authority (VARA). The license allows Fintonia to participate in Dubai’s digital assets ecosystem by operating crypto native

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Banks Are Increasingly Embracing Crypto As It Moves into the Mainstream

The past year has seen cryptocurrency adoption and trading surge. Total transaction reached US$15.8 trillion in 2021, up 567% from 2020, and the number of crypto holders has increased to an estimated 300 million, indicating that digital currencies steadily moving

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Luno Secures MAS’ In-Principle Approval to Offer Crypto Services

Global cryptocurrency company Luno has been granted in-principle approval from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PSA) to provide Digital Payment Token (DPT) services in Singapore. MAS has granted in-principle approvals to Coinhako, Hodlnaut, Paxos, Digital

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Revolut Singapore’s Customers Will Soon Be Able to Trade Crypto Within the App

Challenger bank Revolut has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate a fully regulated cryptocurrency service, along with merchant acquiring services. Revolut Technologies Singapore (RTS) is already licensed as a Major Payment Institution (MPI) in

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MAS to Take Action Against Crypto Exchanges Who Bypass Russia Sanctions

The financial measures that were imposed by the Singapore Government in relation to Russia applies to all financial institutions in the country, including digital payment token (DPT) service providers, according to a Parliamentary reply yesterday. Tharman Shanmugaratnam, Senior Minister and

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FOMO Pay Partners With Circle to Integrate USD Coin Into Its Services

Singapore-based major payment institution FOMO Pay has entered into a strategic agreement to collaborate with Circle Internet Financial, a global financial technology firm and sole issuer of USD Coin (USDC). FOMO Pay will integrate USDC into its services, allowing its

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Digital Treasures Center Gets In-Principle Approval for Digital Payment Token Services

The Monetary Authority of Singapore (MAS) has granted in-principle approval to Digital Treasures Center (DTC), a payment company based on distributed ledger technology. With a license under the Payment Services Act to offer Digital Payment Token services, DTC will be

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Hodlnaut Gets MAS’ In-Principle Approval for Digital Payment Tokens Services

Cryptocurrency platform Hodlnaut announced that it has received in-principle approvals from the Monetary Authority of Singapore (MAS) to be a Major Payment Institution License under the Payment Services Act. Hodlnaut currently offers two digital payment tokens (DPT) services, namely its

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Paxos Secures MAS’ In-Principle Approval for Digital Payment Tokens Services

Paxos, a regulated blockchain infrastructure platform, announced it has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate digital payments token services under the Payment Services Act. With this license, Paxos is now able to offer its

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