Indian payment network UPI partners with Singapore’s PayNow
India is extending her payment capabilities with a new partnership between the nation’s payment network, the universal payments interface (UPI), and Singapore’s PayNow quick payment system. The service was inaugurated by Ravi Menon, managing director of the Monetary Authority of Singapore, and Shaktikanta Das, governor of the Reserve Bank of India, via token transactions using […]
Crypto lender Vauld gets extended creditor protection
A Singapore court once again extends the term of creditor protection to the troubled cryptocurrency lending platform Vauld. The lender was given more than one month to develop a resurrection strategy. Vauld has been given more than a month to conclude discussions with one of two digital-asset fund managers to assume executive management of the […]
Hodlnaut Creditors Seek Liquidation, Reject Restructuring Plan
Creditors of crypto lending platform Hodlnaut have rejected a proposed restructuring plan and would prefer to liquidate the company. Hodlnaut, a Singapore-based crypto lender, is considering liquidating itself after its creditors rejected a proposed restructuring plan and demanded the platform’s assets be sold off. The creditors’ group rejected a restructuring plan proposal that would have […]
Singapore Investigates Crypto Lender Hodlnaut For Fraud
Hodlnaut reportedly lied about its exposure to the now-defunct Terra algorithmic stablecoin and lost nearly $190 million. A police investigation into potential cheating and fraud violations is apparently underway against Singapore-based cryptocurrency lender Hodlnaut. Several complaints made against the platform between August and November 2022 prompted the police’s commercial affairs department to launch an investigation […]
Singapore MAS Works With New York Fed To Explore CBDCs
The collaborative effort of MAS and NYIC aims to evaluate the potential use of wholesale CBDCs in international trade. A joint experiment with wholesale central bank digital currencies will be launched by the Monetary Authority of Singapore (MAS) and the New York Innovation Center (NYIC) of the Federal Reserve Bank of New York. The potential […]