Posts Tagged ‘Singapore’

Explaining KYC, and why fintech startups need to know about it

Just a few years ago, businesses could have set up shop easily in Singapore. Now they need to undergo due diligence checks, such as declaring funding sources. There have been stricter regulations, which led to the increased importance of know-your-customer (KYC) processes for businesses. KYC is a process that allows businesses to identify who their […]

New initiative to fast-track Fintech patent application-to-grant process in Singapore

The Intellectual Property Office of Singapore has launched a new Fintech Fast Track initiative which provides expedited patent application-to-grant process for Fintech inventions. Under this initiative, Fintech patents will be granted in as quickly as six months, compared to at least two years for normal applications. This will support the growth of Singapore’s Fintech sector by helping businesses bring […]

Fintech Chat App Consentium Secures $10 Million Through ICO Sale & Launches in Asia

Consentium, a Singapore-based multi-digital currency and group monetization chat application, announced this week it has secured $10 million from its private ICO sale, which was launched on 25 January. The company reported that the funding will be used to drive expansion across Asia, including priority markets: Singapore, China in Phase 1, and Japan and South […]

Singapore startup raises $30m to let you buy electricity on the blockchain

Electrify, a Singapore-based startup that aims to use a blockchain to let consumers buy electricity from energy retailers and other consumers, has raised US$30 million in under 10 days via a token sale. This makes it one of the largest token sales from a Singapore company on record, according to Tech in Asia. Electrify uses a proprietary […]

Singapore firm to launch ICO advisory centre

A Singapore start-up PLMP-Fintech is launching an ICO advisory centre in a bid to tap the growth of Singapore as a leading hub of ICO activity in the region. Singapore is the third-largest ICO market after the United States and Switzerland, but a number of local firms and small and medium-sized enterprises there are still […]

PRIMER: ICO regulation in Asia

In Asia, China, Hong Kong, Singapore, Japan and South Korea are some of the most active jurisdictions in cryptocurrency trading, prompting regulators to make changes to existing laws. Some, such as China and South Korea, have banned ICOs, while others have issued clarification statements on ICOs, warning potential investors on the possibility of fraud. Many […]

Singapore says no strong case to ban cryptocurrency trading

Singapore’s central bank has been studying the potential risks posed by cryptocurrencies, but there is as yet no strong case to ban trading of the digital coins in the city-state, Deputy Prime Minister Tharman Shanmugaratnam said. View Source