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Crypto

Singapore, Hong Kong, Japan emerge as test beds for stablecoin payment networks

Asia is emerging as the first large-scale testing ground for stablecoin payment and settlement networks. Singapore, Hong Kong and Japan are building regulatory zones that allow stablecoins for payments and settlement under supervision. Singapore has included firms such as Circle and Coinbase as major payment institutions. Hong Kong has started licensing fiat-backed stablecoin issuers and granted its first licences. Japan has expanded its crypto travel rule requirements for transfers.

Crypto

Coinbase plans 25 percent staff increase at Singapore office

Coinbase plans to increase staff at its Singapore office to about 200 from 150 by the end of 2026, Cointelegraph reported. The company is stepping up local hiring as it expands its business in Singapore, focusing on engineers, customer service, relationship management and institutional sales. Coinbase obtained a major payment institution licence from the Monetary Authority of Singapore in October 2023, enabling it to expand services for individuals and institutions.

Crypto

SBI targets Southeast Asia with Coinhako acquisition, brings 1.11 trillion Shiba Inu tokens into group

SBI Holdings has made Singapore crypto exchange Coinhako a subsidiary, bringing its digital asset holdings into the group ecosystem, including 1.11 trillion Shiba Inu tokens. The acquisition was carried out through SBI Ventures Asset and completed after final approval from the Monetary Authority of Singapore. SBI plans to use Coinhako as a base to expand blockchain-based financial services in Southeast Asia and link users to the yen-pegged stablecoin JPYSC and tokenised real-world asset products.