One of the world’s oldest crypto exchanges now has an office in Singapore. According to an Oct. 8 announcement from OKCoin, the exchange is opening its doors to crypto traders in Singapore five months after getting the appropriate exemption from the country’s financial watchdog. OKCoin already offers support for the Singapore dollar, and reports its customers can trade SGD pairings for Bitcoin (BTC) and Ethereum (ETH). The new location will reportedly serve as a new hub, catering to customers in Asia and Oceania. Khairi Azmi, the general manager of the exchange’s Singapore office, said that OKCoin has taken steps to …
OKCoin, one of the world’s oldest cryptocurrency exchanges, is continuing to expand its fiat-to-crypto onramps by adding support of the Singapore dollar (SGD). Starting March 12, OKCoin users can deposit and withdraw Singapore’s official fiat currency — the Singapore dollar — for major cryptocurrencies like Bitcoin (BTC) and Ether (ETH). As the Singapore dollar is also officially accepted in its neighbor country Brunei, individuals and institutions in both jurisdictions are able to start trading their Singapore dollars for crypto, OKCoin announced to Cointelegraph. The Singapore dollar is the third fiat currency supported by OKCoin after the United States dollar and …
Crypto exchange OKCoin announced it would suspend XRP trading and deposits following the news that the United States Securities and Exchange Commission would be pursuing legal action against Ripple. In a blog post released today, OKCoin said its "best course of action" in response to the recent SEC lawsuit would be to suspend trading and deposits of XRP. The exchange wrote that the suspension would take place over two days. Users who borrowed XRP/USD through OKCoin "are required to return the borrowed value" before Jan. 3. The following day, the exchange will suspend spot trading, margin trading and deposits for …
A now-deleted webpage announcing that Singapore’s largest bank is planning to launch a “digital exchange” supporting crypto asset trading is the latest sign of increasing institutional adoption of virtual currencies. The document, which appeared briefly on the DBS website, announced the new exchange will support Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Ethereum Classic, (ETC), and Ripple (XRP), alongside the fiat currencies of Singapore, Japan, Hong Kong, and The United States. The announcement also noted plans to support asset-backed security tokens. Speaking to Cointelegraph, JST Capital co-founder Todd Morakis, described the move as a likely catalyst for other major banks …
Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, is expanding services after securing new regulatory approval from local authorities. The company announced Tuesday that Sygnum Singapore received in-principle approval from the Monetary Authority of Singapore (MAS) to offer three additional regulated activities under capital markets services (CMS) license. The CMS license was initially granted in 2019, allowing Sygnum Singapore to conduct asset management activities. The latest in-principle regulatory approval upgrades Sygnum Singapore to enable new tools like providing corporate finance advisory services, dealing with tokenized capital market products and digital assets, as well as offering custodial services for asset …