Compartir este artículo
Jack Ma’s Ant Group, 3 Other Digital Banks Get OK to Operate in Singapore
The approved digital banks will be able to start operating from Singapore in early 2022.
Por Tanzeel Akhtar
Make us preferred on Google
The Monetary Authority of Singapore (MAS) has approved licenses for four digital banks, including Jack Ma’s Ant Group, allowing them to operate in Singapore.
STORY CONTINUES BELOW
No te pierdas otra historia.Suscríbete al boletín de Crypto Daybook Americas hoy. Ver todos los boletines
- MAS said there were 14 applicants that had to meet a list of requirements and licensing pre-conditions before MAS granted them banking licences. Only four were approved.
- The four approved digital banks include the Ant Group Co, Grab Holding Inc., Sea Limited, and Greenland Consortium.
- The approved digital banks will be able to start operating from Singapore in early 2022 in the hope they will strengthen Singapore’s financial sector for the digital economy of the future, MAS said.
- “MAS applied a rigorous, merit-based process to select a strong slate of digital banks. We expect them to thrive alongside the incumbent banks and raise the industry’s bar in delivering quality financial services, particularly for currently underserved businesses and individuals,” said Ravi Menon, managing director of MAS.
Más para ti
Más para ti
BlackRock's digital assets head: Leverage-driven volatility threatens bitcoin’s narrative
Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.
Lo que debes saber:
- BlackRock digital-assets chief Robert Mitchnick warned that heavy use of leverage in bitcoin derivatives is undermining the cryptocurrency’s appeal as a stable institutional portfolio hedge.
- Mitchnick said bitcoin’s fundamentals as a scarce, decentralized monetary asset remain strong, but its trading increasingly resembles a "levered NASDAQ," raising the bar for conservative investors to adopt it.
- He argued that exchange-traded funds like BlackRock’s iShares Bitcoin ETF are not the main source of volatility, pointing instead to perpetual futures platforms.
Top Stories
