Ripple’s Singapore arm has secured a license as a major payments institution from the Monetary Authority of Singapore, the company said, allowing it to keep providing digital payment token services in the fast-growing region.
Zodia Custody, a cryptocurrency storage provider and a subsidiary of Standard Chartered, has launched in Singapore, to provide digital asset custody services for financial institutions.
Tharman Shanmugaratnam, who has previously called crypto “purely speculative” and “slightly crazy,” was officially elected as Singapore’s president early Saturday morning.
The central bank’s framework will apply to single-currency stablecoins pegged to the Singaporean dollar or any G10 currency. Issuers of such stablecoins seeking regulation in Singapore must meet certain requirements related to value stability, capital and redemption capitals. The Monetary Authority of Singapore (MAS) has unveiled its framework for regulating stablecoins following a public consultation … Read more