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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.
AI & Enterprise
Korea to lower public procurement barriers for AI products, support fees for vulnerable groups
South Korea will prioritise AI products and services in public procurement and allow support for AI service fees for vulnerable groups. The science ministry said revisions to an enforcement decree under the AI Basic Act passed a Cabinet meeting on July 14 and will take effect on July 21. Verified AI products will receive procurement benefits from August, including eased contract requirements and scoring incentives. The scope of AI-vulnerable groups eligible for support will expand.
Crypto
Bybit added to Singapore MAS investor alert list
Cryptocurrency exchange Bybit and its operating entity, Bybit Fintech Limited, have been added to the Monetary Authority of Singapore\'s investor alert list. MAS did not disclose specific reasons for the inclusion, Cointelegraph reported. Based on publicly available information, Bybit is not a MAS-licensed or regulated entity. Bybit’s website classifies Singapore as a restricted jurisdiction, and local users cannot access its services.
