ChainCatcher news, according to The Block, digital asset service provider BitGo announced the establishment of a subsidiary in Singapore, aiming to expand its business in the Asia-Pacific region. BitGo Singapore will offer cold storage services for over 1,100 digital assets, while also supporting features such as voice trading, automated settlement, and token management, targeting institutional users such as foundations and protocols.Previous report, BitGo obtained a major payment institution license from the Monetary Authority of Singapore (MAS) in August this year, allowing it to legally conduct digital asset services in Singapore.

ChainCatcher news, OKX announced the integration of Singapore Dollar trading for its Singapore customers. The service was launched on Monday, with OKX connecting its trading platform to the local financial system using payment services provided by DBS Group.Previously, OKX obtained a payment license issued by the Monetary Authority of Singapore, allowing the exchange to offer digital payment token services and cross-border remittance services.

ChainCatcher news, according to PR Newswire, a Sygnum Future Finance survey shows that 57% of institutional investors in Singapore plan to increase their long-term cryptocurrency allocation, while the average level for the survey is 47%.It is reported that the survey participants include Sygnum's institutional client base and investors, as well as various investment professionals from banks, hedge funds, multi-family and single-family offices, DLT foundations, funds, and asset management companies, with the main reason for increasing cryptocurrency investment being optimism about the industry's development trend.

ChainCatcher news, according to official sources, Singaporean crypto investment firm QCP Capital's over-the-counter spot trading division QCP Trading has announced that it has received in-principle approval (IPA) for a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS). This approval will allow QCP Trading to prepare for providing regulated digital payment token spot trading services.

ChainCatcher news, QCP Trading has received in-principle approval for a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore. This approval marks an important step for QCP Trading towards formal licensing, enabling it to prepare to offer regulated digital currency spot trading services.

According to ChainCatcher news, UXLINK announced on the official X platform that its investor, United Overseas Bank (UOB) Venture Management and Signum Capital Fund, is optimistic about UXLINK's development in the long term. They will increase their investment in UXLINK and participate in staking, working with UXLINK to build features such as PAYFI based on social relationships, connecting more life scenarios like clothing, food, housing, and transportation with UXLINK, becoming a bridge between future Web2 and Web3 and a brand new way of life.

ChainCatcher news, according to Decrypt, Japan's SBI Digital Markets has strengthened its role in the Monetary Authority of Singapore's (MAS) "Project Guardian," launching a new pilot project aimed at promoting the application of tokenized securities in global markets.The Japanese SBI Group subsidiary is collaborating with financial institutions to develop a cross-border framework for tokenized assets, connecting regulated digital asset exchanges across multiple regions to enhance liquidity and reduce costs. The company announced on Monday that through its fixed income pilot project, SBIDM is creating an international network for securities backed by tokenized assets, covering initial issuance and secondary trading.

ChainCatcher news, according to official sources, the Monetary Authority of Singapore (MAS) has announced plans to promote regulated and trusted tokenized forms of currency as common settlement assets, thereby reducing settlement risks and market fragmentation. It is currently facilitating financial institutions to obtain common settlement assets, including the Singapore dollar wholesale central bank digital currency (CBDC). The initial test network, SGD Testnet, features settlement tools, programmability, and interoperability.The test network SGD Testnet will be open to eligible financial institutions in Project Guardian and Project Orchid. The first batch of participating financial institutions includes DBS Bank, OCBC Bank, Standard Chartered Bank, and UOB, with use cases including payments and securities settlement.

ChainCatcher news, the Monetary Authority of Singapore (MAS) has announced a series of plans to promote the commercialization of asset tokenization in financial services, covering aspects such as market liquidity, infrastructure, industry framework, and settlement convenience.It is reported that under the "Guardian Program," the Monetary Authority of Singapore has convened over 40 financial institutions, industry associations, and international policymakers from seven jurisdictions to conduct industry trials on the use of asset tokenization in capital markets.MAS Vice President Liang Xingqiang stated that MAS encourages financial institutions and policymakers to collaboratively develop industry standards to facilitate the commercialization of tokenized capital market products and the promotion of industry scope.

ChainCatcher news, according to official sources, Paxos announced that it expects to release the first attestation report for the Singapore compliant stablecoin USDG, launched in collaboration with DBS Bank, this month (November 2024). Paxos stated that the attestation report is intended to be issued by the independent third-party accounting firm Enrome LLP, and this review will be conducted according to the standards set by the Singapore Institute of Chartered Accountants.It is reported that Paxos will subsequently release attestation reports monthly, aiming to build community trust and ensure that financial data is completely transparent and reliable.

ChainCatcher news, according to Bloomberg, despite some of the couple's other assets being frozen by the court, Zhu Su, co-founder of Three Arrows Capital, saw his wife sell a mansion in Singapore for SGD 51 million (USD 38.5 million).According to real estate records seen by Bloomberg News, this transaction by Tao Yaqiong (also known as Evelyn) was signed in July and completed last month. The premium bungalow is located on Darvel Road near the Singapore Botanic Gardens, covering an area of 1,446 square meters (15,568 square feet). Tao Yaqiong purchased the house for SGD 28.5 million in 2020 and has since redeveloped it.

ChainCatcher news, according to Cointelegraph, blockchain infrastructure company Paxos has announced the launch of the Singapore-compliant stablecoin Global Dollar (USDG), which is managed by DBS Bank for its USD reserves. This is the second localized stablecoin product launched by Paxos, following the interest-bearing stablecoin Lift Dollar (USDL) regulated in the UAE five months ago.USDG received approval from the Monetary Authority of Singapore (MAS) in July this year and fully complies with the stablecoin regulatory framework established by MAS in August 2023. The stablecoin currently operates on the Ethereum blockchain and will expand to other public chains based on regulatory developments in the future. USDG is backed by a 1:1 USD reserve, which includes USD deposits, short-term U.S. government bonds, and other cash equivalents.

ChainCatcher news, Matrixport announced that its Singapore subsidiary Fly Wing Technologies Pte Ltd ("Fly Wing") has received in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).It is reported that Fly Wing's clients include cryptocurrency miners, trading firms from both the crypto and traditional finance sectors, investment companies, and high-net-worth individuals. The company facilitates over $100 million in over-the-counter transactions each month and provides liquidity for fiat and mainstream cryptocurrency deposit and withdrawal services.

ChainCatcher news, the Monetary Authority of Singapore (MAS) has announced the establishment of the Global Finance & Technology Network (GFTN) to promote the development of Singapore's fintech ecosystem and drive greater synergy and networking with the global fintech community.The first phase of measures includes developing a regulatory sandbox framework, establishing cross-border payment connections, piloting digital assets and tokenization, and facilitating the adoption of artificial intelligence (AI). GFTN will collaborate with MAS to advance industry and policy dialogue in the areas of payments, asset tokenization, and AI/quantum.