BlockShow has unveiled the speakers for the upcoming cryptocurrency-related event taking place in Singapore in December. As previously announced, the Singapore FinTech Festival, or SFF 2020, is organized in partnership with the Monetary Authority of Singapore, the country's major financial regulator and de facto central bank. The hybrid online and physical event will run from Dec. 7–11, 2020. The upcoming conference will broadcast panel discussions on two channels, the so-called “Green Shoots” and the “Global Channel.” As part of the Global Channel, SFF 2020 speakers will discuss a range of topics related to the future of money. The channel will …

The Bangladesh branch of global banking firm HSBC has conducted the country’s first blockchain-based letter of credit transaction on the Contour DLT platform. The transaction was used to settle the importation of 20,000 tonnes of fuel oil from United Group’s Singapore subsidiary United Mymensingh Power. HSBC Bangaladesh’s chief executive, Md Mahbub ur Rahman, described the transaction as showcasing the bank’s commitment “to supporting cross-border trade by Bangladeshi businesses using cutting-edge technology platforms.” “I believe this will usher in a new era of routing international trade transactions as businesses and governments recognize transparency, security and swiftness in performing tasks using blockchain …

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 …

DBS, Singapore’s largest retail and commercial bank, seems to be entering the cryptocurrency space with three new offerings. According to information seen by Cointelegraph, DBS is launching cryptocurrency trading and custody as well as a platform for conducting security token offerings. A description of the offering and its components appeared briefly on DBS' website before being removed minutes later. DBS’ upcoming crypto service — the DBS Digital Exchange — will support five major cryptocurrencies including Bitcoin (BTC), Ether (ETH), XRP, Bitcoin Cash (BCH) and Ethereum Classic (ETC). Supported fiat currencies include the United States dollar, the Singapore dollar, the Hong …

DragonEx crypto exchange suspended deposits and withdrawals of all digital currencies on its platform due to issues triggered by OKEx’s ongoing withdrawal freeze. In an official announcement on Oct. 21, DragonEx said that the OKEx freeze triggered a “crisis of trust” in centralized exchanges among its customers, which in turn fueled a run on funds and deteriorated the platform's service. DragonEx is now working on a restructuring plan in order to resume deposits and withdrawals on the platform. The company’s representatives said that the exchange will have to shut down if they don't manage to successfully reorganize by Nov. 2, …

BlockShow, one of the largest blockchain events in the blockchain and crypto industry, will curate discussions around blockchain and cryptocurrency for a five-day hybrid online and offline event hosted by the Monetary Authority of Singapore. The event runs from Dec. 7–11 and the attendees will have 24-hour online access to the conferences. As a “Knowledge Partner” of the Singapore FinTech Festival (SFF) 2020, BlockShow will bring some of the best blockchain leaders to discuss blockchain technology and cryptocurrency. The discussions spanning blockchain and crypto are expected to expose the global fintech community to this new technological landscape. And it will …

Despite this year’s uncertainty that has plagued the global economy, 2020 will go down as the year of the stablecoins due to the digital sector’s tremendous growth, with new developments emerging across the board. While some attribute this growth to the booming interest in decentralized finance among crypto enthusiasts, others see it as a bullish trend that confirms the inflow of fiat currency to the crypto ecosystem. As the DeFi sector keeps growing, so too does the popularity of stablecoins, used to gain high returns from various decentralized lending projects. Stablecoins are also useful for their ability to bridge the …

Major American cryptocurrency exchange Gemini is expanding the company’s business in the Asia-Pacific region with a new high-profile hire. Andy Meehan, a former executive at major American investment bank Morgan Stanley, has joined Gemini as chief compliance officer of the APAC region. Announcing the news on Oct. 7, Gemini executives noted that Meehan will work with regulators to promote smart regulations that drive adoption. Formerly head of legal for Morgan Stanley’s global financial crimes division in the APAC, Meehan will now shape strategy, product and operations of Gemini in the region. The new Gemini CCO will be based in Singapore …

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 …

The Singapore-based multinational banking entity DBS and Standard Chartered have completed the proof-of-concept of their blockchain trade finance platform called the Trade Finance Registry. The two entities developed the PoC in collaboration with 12 other banks on top of the blockchain platform of Singapore-headquartered company Dltledgers. Dltledgers told Cointelegraph that the banks involved in the project now intend to launch the platform for commercial use by central banks around the globe. While the platform will first be used by the Monetary Authority of Singapore, the entities involved in the project also plan to propose it to central banks from the …

Singapore-based payments company Xfers announced on Monday the official release of its XSGD stablecoin, pegged to the Singapore dollar. The stablecoin would be one of the first Singapore dollar-denominated tokens, giving Singaporean businesses and individuals a way to transact with crypto backed by their national currency. XSGD is launched on the Zilliqa and Ethereum blockchains. The token is launched as part of Xfers’ StraitsX initiative. The stablecoin is said to be Travel Rule-compliant, though Aymeric Salley, head of StraitsX, told Cointelegraph that this primarily involves PSN01 guidelines by the Monetary Authority of Singapore. The set of rules primarily deals with …

Chainalysis, a major global cryptocurrency analytics firm, is expanding its presence worldwide to embrace more jurisdictions for its crypto investigations. Providing services to federal agencies like the Internal Revenue Service and the FBI, Chainalysis is launching new offices in Singapore and Tokyo to better service customers in the Asia-Pacific region, the company announced on Sept. 27. By establishing the two new offices, Chainalysis is doubling down on its commitment to fully support local crypto businesses, government agencies and financial institutions. The new offices will serve as hubs for sales, professional investigative services, and training, the company’s representative said. Ulisse Dell’Orto, …