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Vietnam’s currency will likely remain stable this year as the greenback weakens and foreign exchange reserves rise, experts say. The reference rate set by the State Bank of Vietnam (SBV) has remained mostly stable this year and was at VND23,205 Tuesday. Rates…
The bank’s top anti-money laundering executive is leaving for Facebook-backed payments project Libra. Sterling Daines is leaving Credit Suisse for Libra, a source familiar with the matter said on Tuesday. The bank had poached Daines three years ago from…
Cryptocurrency exchange giant, Binance, has applied for an operating license in Singapore which continues to lure new players following the recent progressive developments in its regulatory regime. Founded in 2017, Binance experienced extremely rapid growth…
Cambodia is set to roll out Project Bakong, the country’s blockchain-based payment network that features a central bank digital currency (CBDC) payment system. The platform, trialed in July 2019 and set to go live this quarter, already has the backing of 11…
Stack, an Asia-based provider of cryptocurrency trackers and index funds, has launched the single-asset index fund in response to investor demand. It expects to capture $750 million in assets under management within 2020, Matthew Dibb, co-founder of Stack…
The central banks of Hong Kong and Thailand are working to launch a digital currency to facilitate cross-border trade. Following a signed agreement to bolster financial technology collaboration, the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand…
China’s crackdown on cryptocurrencies has led at least five local exchanges to halt servicing of domestic users or their whole operations altogether. Last week, Chinese exchange operators Bitsoda and Akdex announced that it would cease its operations. Btuex…
Atlanta-based Intercontinental Exchange (ICE) is planning to launch bitcoin futures on December 9 in Singapore, following regulator’s new papers permitting the trading of derivatives tracking certain cryptocurrencies. The Bakkt bitcoin cash-settled monthly…
Vietnam has significantly lowered penalties for illegal currency exchanges following outrage over a man being fined VND90 million ($3,900) for exchanging $100 last year. The fine was revoked after a public outcry erupted over disproportionate punishment. An…
The partnership with the National University of Singapore will bring together industry players, government agencies, regulatory bodies and educational institutions to develop and apply emerging technologies in the field. The School of Computing at the…
After amassing more than 8 million customers, the tech unicorn has landed in Singapore, its second market outside Europe. After much anticipation, U.K. challenger bank Revolut has rolled out its services in Singapore. Customers can now open an account from…
Just days after clinching a banking license in Switzerland, cryptocurrency-focused financier Sygnum will look to do the same in Singapore. Sygnum is currently pushing for a capital markets services license in Singapore to offer asset management solutions but…
The Monetary Authority of Singapore warned the public about a website using fabricated comments from Prime Minister Lee Hsien Loong to solicit investments in bitcoin. The website not only used fabricated comments but also attempted to impersonate a news page…
As expected, Facebook announced a brand new cryptocurrency coming in 2020 – Libra. Described as a new digital wallet for new digital currency, the new financial service will allow consumers to keep their cryptocurrency safe, as well as make various…
The dollar was marginally weaker on Monday, as increasing expectations of a U.S.-Sino trade deal led investors to shift away from the safety of the greenback into riskier assets. Both the United States and China reported progress in five days of negotiations…
Vietnamese fintech firm Finhay has raised $1 million in seed funding from Singapore’s Insignia Ventures Partners and other foreign investors. “Finhay will use the $1 million investment to expand its user base 10-fold to 100,000,” said founder and director of…
