The Asia region is known for its contradictory relationship towards blockchain technology plus cryptocurrency and its decentralized nature. Some countries such as China, Japan, Singapore, Hong Kong, South Korea, etc., embrace it for its innovativeness and disruptive potential, while others try to strictly regulate or even ban it.
11/02/2019 Singapore: LaLa World, a Singapore based FinTech organization, launched its multi- cryptocurrency wallet today. The wallet, christened ARAX, supports multiple Blockchains, coins, and tokens natively. Arax Wallet will address the absence of utility of cryptocurrencies which has impeded global adoption of these digital assets.
Digital asset institutional investors will soon be able to safekeep their holdings on a standardised, resilient, compliant and automated custody platform operated by Onchain Custodian (ONC), a Singapore company supported by Onchain.
The government of Singapore has continued to give support in the form of financial incentives to Blockchain technology innovation in the country with several investments. The total amount of funding is not yet officially uncovered.
Two of the most innovative blockchain companies, Pundi X and UTRUST, have announced a strategic alignment of vision and mission, engineered to deliver a unique solution for mainstream cryptocurrency adoption. The solution will enable retailers and merchant services to integrate and physically accept cryptocurrency for goods and services offline.
Eight digital currency exchanges, operating on the Singaporean crypto market, were warned not to deal with the trading of securities or futures contracts that have not obtained authorisation from the Monetary Authority of Singapore (MAS), according to a statement published by the financial market regulator on May 24.
New months starts from groundbreaking news of blockchain and cryptocurrency world. The topics are: Singapore’s FinTech patent initiative will provide for the growth of the entire industry, the Australian Securities Exchange to start using blockchain tech in 2020, fake giveaway from Durov: scammers have stolen a Twitter account to pose themselves as Telegram CEO.
The Intellectual Property Office of Singapore announced a Fintech Fast Track initiative which allows startups of the sector to receive patents faster. From now on, it will take six months instead of two years.