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Crypto

SBI buys controlling stake in Singapore crypto platform Coinhako with MAS approval

SBI Holdings has acquired a controlling stake in Holdbuild, the parent of Singapore cryptocurrency platform Coinhako, after receiving approval from the Monetary Authority of Singapore (MAS). Cointelegraph reported SBI bought shares from existing shareholders through a capital injection, bringing Coinhako into its group as a consolidated subsidiary. Coinhako holds an MAS major payment institution licence through its unit Hakko Technology Pte. Ltd. The deal value was not disclosed.

Crypto

OKX Europe supports USDT-to-USDC conversion

OKX Europe has introduced a conversion feature for European users to switch from Tether's USDT to USDC. Cointelegraph reported on July 17 that the feature is designed to help users voluntarily move to a stablecoin that complies with regulation as support for USDT declines under the European Union's MiCA framework. Users can deposit USDT into an OKX Europe account and convert it to USDC, one of the main stablecoins available under MiCA.

Crypto

Consensys belatedly finds it outsourced work to North Korea-linked developer

Consensys belatedly discovered it had outsourced work to a software developer linked to North Korea and blocked the person’s access, the report said. Cointelegraph reported the developer accessed some Consensys systems for about a month. The individual joined Consensys work early this year under the alias “Tyler Knapp” after being introduced by a third-party service provider with an existing business relationship.