Tag: Singapore

OPNX exchange bids for crypto lender Hodlnaut in Singapore

coiner

Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company. The deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors’ payout and outstanding claims. According to CoinMarketCap, FLEX is trading at $7.16 as of this writing, bringing the capital injection to nearly $215 million. Hodlnaut’s restructuring is being overseen by a Singapore court. If approved…

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Crypto​.com joins ranks of licensed payment institutions in Singapore

coiner

The Singapore-based cryptocurrency exchange, Crypto.com, announced on June 1 that it had been granted a major payment institution (MPI) license for digital payment token (DPT) services by the Monetary Authority of Singapore (MAS). The announcement comes after Crypto.com received its in-principle approval from MAS in June 2022. With the MPI license, Crypto.com is now authorized to offer its DPT services to customers in Singapore. The Monetary Authority of Singapore serves as Singapore’s central bank and primary financial regulatory authority. It is responsible for overseeing and implementing legislation related to money,…

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