Singapore-based cryptocurrency exchange Huobi has launched the Huobi Derivative Market (Huobi DM), according to a press release shared with Cointelegraph Nov. 28. Huobi presented its new platform at the Cryptofrontiers conference in New York City today, stressing that the Huobi DM allows customers engage in cryptocurrency contract trading on both rising and falling cryptocurrency prices. The platforum purportedly provides tools for hedging and controlling risk and uncertainty. Contract trading allows users to purchase and sell digital currencies at predetermined prices at specified times in the future, giving investors and traders an opportunity to open both long and short positions. Huobi …

BlockShow Asia 2018, dubbed “the largest blockchain technology roadshow” by tech news website Venturebeat, started in Singapore Wednesday, Nov. 28. BlockShow Asia, powered by Cointelegraph, is returning to Singapore for the second time bringing together over 3,000 blockchain enthusiasts from over 50 countries. The conference is scheduled for Nov. 28 and 29, while Asia Blockchain Week will last until Dec. 1. The BlockShow roundtables and discussions will take place at Marina Bay Sands convention center at the very heart of Singapore’s business district. On the first day the speakers will discuss, among other topics, the interaction between blockchain and artificial …

Singapore’s state investment firm Temasek Holdings Pte has invested in enterprise blockchain software firm and global banking consortium R3, according to a Bloomberg report Nov. 22. Temasek is a Singapore government-owned investment company, which has reported its Asia-focused portfolio to be worth around S$308 billion ($235 billion) as of spring 2018. Bloomberg today cites an “internal memo,” whose contents have reportedly been confirmed by a Temasek spokesperson, which illuminates the company’s broad investment strategy as of October 2018. It indicates that Temasek is responding to a shifting global investment landscape by focusing in on bleeding-edge technologies such as blockchain and …

Kakao Corp, a major South Korean Internet conglomerate, has established a subsidiary of the company in Singapore to attract foreign investments with cryptocurrencies, Seoul-based media outlet News1 reported Nov. 21. According to the article, Kakao Corp established the brainchild of Kakao subsidiary Ground X, the corporation’s blockchain platform Klaytn, in Singapore yesterday. The media outlet also states, with reference to the the Singapore Chamber of Commerce, that Kakao Corp is considering establishing another special corporation in Singapore aimed at managing the investments. In October, Kakao Corp had released Klaytn’s testnet ahead of its formal launch set for the first quarter …

Crypto exchange Quoine and major liquidity provider B2C2 are the opposing parties in Singapore’s first court case involving Bitcoin (BTC), which began Nov. 21, Singapore-based English-language daily The Straits Times reports. The case concerns an alleged reversal of crypto transactions in the spring of 2017. In a legal battle at the Singapore International Commercial Court, B2C2 alleges Quoine reversed seven Bitcoin to Ethereum (ETH) trades it attempted to perform in April 2017. The reversal, which Quoine in court documents said was due to a technical glitch, involves a total of 3,085 BTC (today around $13.7 million), which B2C2 is now …

The Monetary Authority of Singapore (MAS), the country’s central bank, has broadened its regulatory regime for payment providers to bring certain cryptocurrencies under its jurisdiction. The development was reported by English-language local broadsheet The Straits Times Nov. 19. The new Payment Services Bill (PSB), submitted by MAS board member and education minister Ong Ye Kung before parliament, is set to replace two existing pieces of legislation, the Payment Systems (Oversight) Act (PS(O)A) and the Money-Changing and Remittance Businesses Act (MCRBA). The new bill, which has passed through two public consultations since August 2016, has reportedly been drafted to better safeguard …

Central bank digital currencies (CDBCs) can help improve counterparty credit risk for cross-border interbank payments and settlements, according to a new in-depth report jointly published by the central banks of Canada, the U.K. and Singapore, Nov. 15. A CBDC is a digital currency issued by a central bank whose legal tender status depends on government regulation or law. The “wholesale” variant of CBDC (W-CBDC) limits its use to financial institutions and markets, as opposed to a “retail CBDC” for the general public. The jointly compiled report looks into how to tackle the challenges and frictions in existing cross-border payment and …

Ethereum-based payment platform OmiseGo and blockchain protocol Mass Vehicle Ledger (MVL) have partnered to research blockchain technology, according to a press release shared with Cointelegraph Nov. 14. MVL is the protocol behind popular Singapore ride hailing app TADA. MVL and OmiseGo will develop a Proof-of-Concept (PoC) to ascertain whether the decentralized OMG Network is suitable for MVL’s data record-keeping system. During the PoC, MVL will record data collected from TADA on the OmiseGo platform. Moreover, the two companies have announced further technical and research cooperation on possible blockchain applications in TADA’s services. On Nov. 7, MVL received a taxi provider …

This article previously stated that KuCoin was based in Hong Kong. It has been updated for accuracy. Singapore-based international cryptocurrency exchange KuCoin has closed a Series A funding round worth $20 million, the company confirmed Nov. 14. Led by IDG Capital, Matrix Partners and Neo Global Capital, the funds will go towards the release of KuCoin’s 2.0 platform, expansion into new markets, research and more. “We will continue to spare no effort in exploring the best hidden gems in the crypto world while growing exponentially on a global scale and, more importantly, solidifying our position as ‘The People’s Exchange,’” officials …

The International Monetary Fund (IMF) said it plans to use its ongoing research and experimentation with blockchain as an “anchor” for its future policy on the technology in comments Nov. 12. Speaking on a panel with Ripple CEO Brad Garlinghouse during the Singapore Fintech Festival 2018, IMF Deputy General Counsel Ross Leckow highlighted three areas the organization has been “active” in regarding blockchain, cryptocurrency and more. “The IMF is devoting a lot of attention to fintech and in particular to blockchain,” he told the audience, continuing: “But we think that it’s difficult to talk about blockchain without considering it in …

Singapore Exchange Limited (SGX), along with the Monetary Authority of Singapore (MAS), have successfully tested the use of blockchain technology for tokenized assets settlement, according to a SGX release issued Sunday, Nov. 11. The report reveals the data on the trial that began in August, shortly after MAS and SGX had partnered with U.S. stock market Nasdaq, “big four” consulting company Deloitte, and Singaporean tech company Anquan. As per the release, the partners have developed a blockchain-driven solution for Delivery versus Payment (DvP) capabilities — a settlement procedure where the buyer's payment for securities is due at the time of …

SP Group, a major corporation providing electricity and gas transmission in Singapore, has launched a blockchain-powered renewable energy certificate (REC) marketplace, the company reveals in a press release Monday, Oct. 29. The platform was unveiled at the ASEAN Energy Business Forum held in Singapore this week. The press release notes that SP Group plans to use blockchain to help the company increase transparency and efficiency. Samuel Tan, chief digital officer of the corporation, further explained: “Through blockchain technology, we enable companies to trade in renewable energy certificates conveniently, seamlessly and securely, helping them achieve greener business operations and meet their …