The chief fintech officer at Singapore's central bank told Cointelegraph about his thoughts about Singapore's wholesale CBDC.
Singapore, the Republic of Singapore, is a city-state located on an island in Southeast Asia and shares borders with Malaysia and Indonesia. Singapore has a strong economy with a favorable investment climate, a competitive environment, and a high level of education and welfare. In this way, for companies that work with Bitcoin, Singapore is a good place to set up a business because cryptocurrency is allowed to be used in Singapore and has governmental support. Moreover, Singapore was one of the first countries to start regulating the usage of digital currencies in 2014 by imposing taxes on it. In terms of blockchain technology, authorities in Singapore are interested in applying this technology to their advantage.
BlockShow 2020 at Singapore FinTech Festival to reflect on achievements of blockchain and how the mainstream finance industry is starting to accept blockchain and digital currency tech.3100
HSBC Bangladesh has completed the country’s first blockchain-powered cross-border trade settled using a letter of credit.12057
The forthcoming digital asset exchange from Singapore’s largest bank DBS is expected to encourage other Asian financial institutions to reveal their crypto strategies.6782
Another global bank believes that digital assets are the future of the global economy.20748
DragonEx is shutting down deposits and withdrawals of all cryptos.5608
BlockShow has partnered with the Monetary Authority of Singapore to curate blockchain discussions for its five-day fintech event.9687
Stablecoins are taking over the crypto space with increased utility and circulation. What is prompting this growth, and is it a threat to the market?10098
Gemini exchange continues to strengthen its global expansion strategy.4977
The new office will reportedly serve as a new hub for crypto traders in Asia and Oceania.6378
DBS and Standard Chartered will soon launch a trade finance platform for central banks worldwide.5632
Xfers believes it's time other national currencies receive a piece of the action too.9062
But it remains unclear where KuCoin is actually headquartered.4291
A look at the legal status of crypto in Asia, where new crypto hubs are emerging and thriving despite uneven regulation.18681
The cases of the robber’s two accomplices are still pending.3923