Switzerland’s First Licensed Crypto Bank is Eyeing Singapore Next

Swiss and Singapore-based cryptocurrency firm Sygnum is in talks with local regulators to seal a banking license in Singapore.

Business News Bloomberg reported on Aug. 28 that Syngum — which has only just recently been issued a conditional banking and securities dealer license in Switzerland — aims to become a fully regulated bank in Singapore as well.

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Singapore Crypto Association Launches Code of Practice

The Association of Cryptocurrency Enterprises and Startups, Singapore (ACCESS) has developed a Code of Practice in partnership with multinational law firm Linklaters.

A Global Legal Post report published Aug. 19 revealed that ACCESS had the support of the Monetary Authority of Singapore (MAS) — the country’s central bank and regulatory authority — and also consulted the Association of Banks in Singapore to launch the new initiative.

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Proposed Crypto Tax Cut in Singapore to Help Crypto Business: PwC Expert

Singapore’s plans to exempt certain digital currencies from the Goods and Services Tax (GST) would benefit cryptocurrency-related businesses, according to a partner in PwC Hong Kong’s corporate tax practice.

As reported by Hong Kong’s English language newspaper South China Morning Post on July 29, Gwenda Ho argued that the Singapore government’s proposal to drop the seven per cent GST for cryptocurrencies when using them to pay for goods and services would have a positive impact on crypto exchanges,

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Singapore Wants to Drop VAT for Transacting in Cryptocurrencies

Singapore plans to exempt cryptocurrencies that are intended to function as a medium of exchange from Goods and Services Tax (GST) — the local equivalent of Value-Added Tax (VAT).

The news was revealed in a draft e-tax guide published by the Inland Revenue Authority of Singapore (IRAS) on July 5.

The proposed exemption,

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Singapore’s iSTOX to Launch a Regulated Digitized Securities Platform in 2020

Capital markets platform iSTOX has joined Singapore’s regulatory sandbox to launch digitized securities trading in late 2019, the firm announced in a tweet on May 24.

Following its addition to the Monetary Authority of Singapore (MAS)’s FinTech Regulatory Sandbox on May 1, the Singapore-based company will start providing service for the trading of digitized securities starting from Q4 2019,

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Singapore Regulator Recognizes Potential of Blockchain for Cross-Border Payments

Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS), said that blockchain has potential for cross-border payments but the agency “does not see much” in retail bank digital currencies. Mohanty delivered his comments at the Blockchain in Business event at the Massachusetts Institute of Technology on May 2.

Mohanty revealed that back in 2016,

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Binance Singapore Launches But Offers Just One Trading Pair, Report

Binance has launched a new cryptocurrency exchange in Singapore after months of anticipation, TechCrunch reported on April 23, albeit with limited features.

Users of the platform are only able to purchase bitcoin (BTC) using Singapore dollars (SGD,) meaning far fewer trading pairs are available for consumers compared with the company’s main exchange.

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Top Exchange Binance Announces ‘SAFU’ Hackathon, Conference in Singapore

The world’s largest cryptocurrency exchange, Binance, has announced that it will host the company’s first conference, according to a press release shared with Cointelegraph Dec. 6.

Binance Blockchain Week is scheduled to be held in Singapore this January and is to include two major events –– the conference itself, along with a two-day “first-ever Binance SAFU (Secured Assets For Users) Hackathon,” according to the press release.

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μNEST Talks IoT and Blockchain at Singapore Meetup


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Singapore FinTech Enables Instant Blockchain Remittance for Myanmar Migrant Workers in Thailand


Everex, a Singapore-based financial technology firm, has partnered with Myanmar’s Shwe Bank to introduce blockchain-Powered remittance Services between Myanmar and Thailand.

The blockchain firm claims that the partnership will enable millions of Myanmar migrant workers living in Thailand to send money home instantly and securely at much lower transaction costs than traditional remittance methods.

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Singapore Airlines' Blockchain-Based Loyalty Program Takes Off

Singapore Airlines has officially launched its blockchain-based loyalty program for frequent customers.

KrisPay, a digital wallet developed in partnership with KPMG and Microsoft, allows Singapore Airlines customers to turn travel miles into units of payment, which can be used with partner merchants in Singapore. Most notably, however, the newly dubbed KrisFlyer program utilizes a blockchain to underpin its clients’

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Singapore Airlines Launches Blockchain-Based Loyalty Wallet, Co-Developed by Microsoft

Singapore Airlines (SIA) has launched its own airline loyalty digital wallet that uses blockchain technology, it announced July 24. The software has been co-developed by Microsoft and KPMG Digital Village, according to the press release.

The new wallet — dubbed ‘KrisPay’ after SIA’s ‘KrisFlyer’ loyalty programme — converts frequent flyer miles into digitized ‘KrisPay miles’ that can be used to pay for retail purchases via a mobile app.

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Singapore: Gov’t Owned CrimsonLogic Launches Global Cross-Border Blockchain Platform

Singapore e-government service provider CrimsonLogic has unveiled its cross-border blockchain network for global trade, according to a July 18 press release.

Dubbed the Open Trade Blockchain (OTB), the platform is principally designed to boost the efficiency of trade corridors between China and the Association of Southeast Asian Nations (ASEAN) nations.

Various operators have already signed up to join OTB,

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‘World’s First’ Trade Blockchain Launches in Singapore to Link China and ASEAN Nations


A Singapore-based e-government service provider – notably owned by a government body and a port operator – has launched a blockchain platform focused on cross-border trade between ASEAN nations and China.

Singapore-based CrimsonLogic, an e-government solutions provider with a presence in over 20 countries, announced [PDF] details of its ‘inclusive and extensible blockchain service’ that the company says will will ‘boost overall efficiency,

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