[ad_1]
CoinDesk, a media outlet covering cryptocurrency and digital assets, has updated its privacy policy, terms of use, and cookie policies. The company strives for high journalistic standards and adheres to strict editorial policies. CoinDesk is a subsidiary of Digital Currency Group (DCG), which invests in cryptocurrencies and blockchain startups. As part of employee compensation, some CoinDesk employees may receive exposure to DCG equity through stock appreciation rights that vest over several years. However, CoinDesk journalists are prohibited from buying DCG stock outright.
This article originally appeared on www.coindesk.com
Circle, the USDC stablecoin issuer has received a digital token license in Singapore, according to a report from the Monetary Authority of Singapore (MAS). This gives the company regulatory clearance to operate a cryptocurrency exchange in Singapore.
The digital token license regime, also known as Payment Services Act (PSA) license, came into effect in Singapore in January 2020, aiming to bring digital asset services under the central bank’s regulatory jurisdiction. In order to acquire the license, applicants must undergo a thorough risk assessment and prove their security and compliance measures.
With the license issued, Circle becomes one of the few companies that have successfully obtained the PSA license to operate in Singapore, alongside companies such as Coinbase and Binance.
According to a press release by Circle, the company’s Singapore operations will focus on servicing institutional investors, including hedge funds, family offices, and trading firms, with a suite of trading and treasury operations, along with multicurrency, cross-border payments.
Jeremy Allaire, CEO of Circle, stated that the license issued is a significant milestone for the company, enabling them to expand their cryptocurrency services in Asia. He further added that Circle has been working closely with regulatory authorities to build an open, transparent, and secure global financial system for the digital economy.
Singapore continues to be a favorable destination for blockchain and cryptocurrency companies due to its supportive regulatory stance. The city-state aims to become a leading hub for fintech and blockchain innovation in the Asia-Pacific region.
The announcement of Circle’s PSA license in Singapore comes amid the growing interest in stablecoins, which has seen an increase in the demand for USDC. USDC is pegged to the US dollar, providing a stable value for cryptocurrency traders and investors, while also providing a bridge between the traditional financial world and cryptocurrency markets.
With Circle’s digital token license in Singapore, it is expected to see more institutional investors and traders turning to the USDC stablecoin for a more reliable and stable investment option.
[ad_2]
Source link