Kraken is moving ahead with plans to launch its own bank despite a challenging regulatory environment.

Singapore police said they have begun a probe linked to Terraform Labs Pte, the company co-founded by crypto fugitive Do Kwon.

DBS Digital Exchange, one of Asia’s first bank-backed cryptocurrency exchanges, last month reported an 80% surge in Bitcoin trading volume in 2022 from the prior year. The exchange, known as DDEx, said Bitcoin it held in custody had doubled and Ether tokens in its custody rose 60%. 

Bosch and Fetch.ai have jointly unveiled a new foundation focused on fueling industrial adoption of software agents, AI, and Web3 technology.

India’s national payment network, called the unified payments interface (UPI), is expanding its services beyond Indian borders to Singapore. The cross-border connectivity between Singapore and India via their respective rapid payment systems, namely PayNow and the UPI. Shri Shaktikanta Das, governor of the Reserve Bank, and Mr Ravi Menon, managing director of the Monetary Authority of Singapore, launched the facility through token transactions using the UPI-PayNow linkage.

Crypto or Blockchain was the top area of fintech investment in Singapore in 2022 despite the global slowdown in the space, according to the KPMG Pulse of Fintech report for the second half of 2022.

DBS Digital Exchange (DDEx), one of Asia’s first bank-backed digital exchanges, has reported a year-on-year increase of 80% in Bitcoin traded in financial year 2022, while the number of Bitcoin custodized with the bank doubled from 2021.

Some of the biggest names in crypto within the city-state of Singapore are pressuring authorities to bring down the regulatory hammer on an otherwise nascent industry.

A spate of high profile implosions of some of the biggest names in crypto within the city state of Singapore is sparking deep introspection and pressuring authorities to bring down the regulatory hammer on an otherwise nascent industry, but is the financial center being too hard on itself?

Singapore’s DBS Group plans to apply for a license to offer crypto to Hong Kong customers as the Chinese special administrative zone pushes to become a hub for digital assets and reforms its crypto regulation, according to a report from Bloomberg.