Nansen Buys StakeWithUs, Expanding Beyond Data Provision Into Crypto Investment
The company will also become one of the first validators on the Berachain mainnet.
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Singapore
The company will also become one of the first validators on the Berachain mainnet.
It is extremely unlikely that WazirX customers will be made whole in crypto terms through the restructuring, legal advisers of the Indian cryptocurrency exchange said.
Singapore has a reputation of being a world-leading crypto hub as it provides clear guidelines on how cryptocurrency firms should operate.
Indian rival CoinSwitch said it is likely to sue the hacked crypto exchange, where $9.6 million worth of deposits were held.
Singapore’s government noted an increasing use of cryptocurrencies in terror financing, even though it acknowledges that cash and other informal value transfer systems remain the predominant means for financial transactions.
The Major Payment Institution license would allow for the company to offer regulated Digital Payment Token services, such as custody.
The address has already made $200 million from its ether holdings.
The license is the first awarded by Singapore to a crypto market maker.
Bitstamp describes itself as the “first crypto exchange with major European Union (EU) presence to secure in-principle approval in Singapore.”
The company said that its initial target for the funding round was $35 million.