CRYPTO NEWS: BLOCKCHAIN.COM A CRYPTOCURRENCY COMPANY IS SECURING A LICENCE IN SINGAPORE.

BLOCKCHAIN.COM A CRYPTOCURRENCY COMPANY IS SECURING A LICENCE IN SINGAPORE. THE MONETARY AUTHORITY OF SINGAPORE (MAS) HAS GRANTED PERMISSION TO BLOCKCHAIN.COM, ANOTHER CRYPTOCURRENCY EXCHANGE, TO PROVIDE PAYMENT SERVICES IN SINGAPORE. THIS HAS JUST HAPPENED AFTER COINBASE DECLARED THAT IT HAD ACQUIRED COMPARABLE APPROVAL.

BLOCKCHAIN.COM A CRYPTOCURRENCY COMPANY IS SECURING A LICENCE IN SINGAPORE:

BLOCKCHAIN.COM A CRYPTOCURRENCY COMPANY IS SECURING A LICENCE IN SINGAPORE
BLOCKCHAIN.COM A CRYPTOCURRENCY COMPANY IS SECURING A LICENCE IN SINGAPORE

OUT OF THE ROUGHLY 180 BUSINESSES THAT SUBMITTED AN APPLICATION FOR A CRYPTO PAYMENTS LICENCE IN JANUARY, THIS BRINGS THE TOTAL NUMBER OF BITCOIN BUSINESSES OPERATING IN THE NATION TO 18, ACCORDING TO REUTERS.

ACCORDING TO REUTERS, WHO CITED BLOCKCHAIN.COM, SINGAPORE IS “AN ATTRACTIVE LOCATION FOR THE STARTUP TO BUILD ITS INSTITUTIONAL CUSTOMERS AND TEAM.” IN REALITY, INSTITUTIONS ACCOUNT FOR 50% OF BLOCKCHAIN.COM’S REVENUE, AND ITS RETAIL DIVISION HAS 84 MILLION WALLET USERS ACROSS 200 COUNTRIES. MARKETING-INTERACTIVE HAS CONTACTED BLOCKCHAIN.COM TO GET FURTHER DETAILS.

ACCORDING TO BLOOMBERG, BLOCKCHAIN.COM RAISED OVER US$14 BILLION IN NEW FUNDING IN MARCH OF THIS YEAR, MORE THAN DOUBLING ITS VALUE. BLOCKCHAIN.COM WAS NAMED TO CNBC’S DISRUPTOR 50 LIST IN MAY, WHICH HONOURS BUSINESSES WHO SURVIVED THE EPIDEMIC AND ARE PREPARED TO FACE ESCALATING ECONOMIC AND CONSUMER PROBLEMS.

ALTHOUGH MAS HAS TAKEN A CAUTIOUS APPROACH TO CRYPTOCURRENCIES AND HAS STATED IN AUGUST THAT IT IS CONSIDERING PLACING LIMITS ON RETAIL ACCESS TO CRYPTOCURRENCIES, SINGAPORE IS SEEKING TO BECOME A CENTRE FOR DIGITAL ASSET OPERATIONS. CONSUMER-RELATED HAZARDS HAVE CAUGHT THE ATTENTION OF AUTHORITIES AROUND THE WORLD, ACCORDING TO MD RAVI MENON, WHO EARLIER CLAIMED THAT CUSTOMERS APPEAR TO BE “IRRATIONALLY CLUELESS ABOUT THE RISKS OF BITCOIN TRADING.”

THE ROAD HASN’T BEEN EASY FOR CRYPTOCURRENCY PLAYERS EITHER; BINANCE, FOR INSTANCE, STOPPED OPERATING IN SINGAPORE THIS YEAR, AND DO KWON, THE FOUNDER OF TERRAUSD, WHICH IS HELD BY TERRAFORM LABS IN SINGAPORE, IS CURRENTLY BEING INVESTIGATED IN SOUTH KOREA.

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CRYPTO NEWS: BLOCKCHAIN.COM A CRYPTOCURRENCY COMPANY IS SECURING A LICENCE IN SINGAPORE.

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