OCBC Sues Money Laundering Suspect to Recover $15M Loss
OCBC, the second largest bank in Southeast Asia, has filed a claim against Su Baolin, one of the key suspects in Singapore’s largest money laundering scandal. The bank seeks to recover about $15 million in loans and interest. According to a Bloomberg report, OCBC has initiated legal proceedings against Su Baolin, a Cambodian passport holder, […]
XREX Receives MAS Payment Institution Licence In-principle Approval
A Major Payment Institution (MPI) license in Singapore has been granted in principle to XREX, an Asian cryptocurrency exchange specializing in cross-border payments. The Monetary Authority of Singapore gave XREX first permission for a license that would eventually enable the company to provide digital payment token services and products in the city-state on November 17, […]
Singapore Launches 5 New Pilots to Test Tokenized Asset
The Monetary Authority of Singapore‘s (MAS) implementation of five supplementary industry pilots for Project Guardian aims to evaluate various asset tokenization use cases. Under the leadership of Singapore’s central bank, Project Guardian is a collaborative effort to create a new financial infrastructure utilizing decentralized finance (DeFi) components. The most recent initiatives focus on developing foundational […]
Singapore Startup Dtcpay Launches Retail Crypto Payments System
Singapore-based dtcpay is launching a payment system that will use fiat and cryptocurrencies for in-store and online payments. In its announcement, the corporation highlighted Bitcoin (BTC $37,190), Ether (ETH $2,078), and Tether (USDT $1.00). The business is collaborating with Allinpay International to develop smart terminals and a digital interface and with open-source blockchain PlatON to […]
Singapore Police Alert Public of WhatsApp Phishing Scams
The Singapore Police Force issued a warning this week about a new phishing scam targeting WhatsApp users. The public is being advised to exercise heightened caution due to the Singapore Police Force’s alert about a new phishing scam that targets WhatsApp users. Cybercriminals have devised a cunning scheme that fools people into scanning a QR […]