Upbit Singapore, the Singapore-based arm of South Korea’s largest cryptocurrency exchange, has obtained initial approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This approval allows Upbit Singapore to offer digital payment token services to institutional investors as it awaits full licensing. Founded in 2018, Upbit Singapore views this…
FTX has an estimated $8 billion hole in its balance sheet. Investors desperate to get their money back are being targeted by phishing scams. The Singapore Police Force has warned investors to be weary of fake websites claiming they can help them recover funds from the now-bankrupt cryptocurrency exchange FTX. On Nov. 19, the police…
Singapore-owned investment fund Temasek said it was writing off its $275 million investment in the bankrupt crypto exchange FTX, according to a Nov. 17 press statement. According to the fund, it had misplaced its “belief in the actions, judgment, and leadership” of FTX founder Sam Bankman-Fried. Temasek carried out eight months of due diligence Temasek revealed…
The Monetary Authority of Singapore will trial a retail central bank digital currency in various contexts at a fintech event, despite the electronic payment options already available. The Monetary Authority of Singapore (MAS) has wrapped up the first stage of its Project Orchid examination of a retail central bank digital currency (CBDC). According to the white…