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Crypto

Singapore crypto market jumps 55 percent, led by institutional trading

Singapore’s cryptocurrency economy was estimated at $284 billion, up 55.4 percent over a year, diverging from a 6.8 percent contraction in the Central and Southern Asia and Oceania region. Growth was led by institutional platform activity, which rose 94 percent to $60 billion and was concentrated among a small number of market makers, OTC firms and institutional brokerages. Elsewhere in Southeast Asia, smaller P2P transfers and stablecoin use stood out.

Crypto

U.S. Senate report says 84 percent of Iran-linked sanctioned wallets mainly used Tether\'s USDT

Democrats on a U.S. Senate investigations subcommittee said many crypto wallets designated for sanctions or seizure tied to Iran and affiliated forces used Tether’s stablecoin USDT. The panel analysed 846 wallets and found 84 percent used USDT exclusively or mainly. The report also cited large transaction volumes and alleged links to groups and networks. Tether said it works with U.S. authorities and has frozen assets tied to Iran-linked wallets.

Crypto

Aracore partners with U.S. Stable to link USDT-based institutional payment and settlement infrastructure

Aracore, the U.S. subsidiary of blockchain and AI company BPMG, said on Tuesday it has signed a strategic partnership with Stable, a layer-1 blockchain focused on USDT-based payments and settlement. The two companies will jointly review technical linkage between Stable’s settlement infrastructure and Aracore’s Institutional Settlement Network. They plan to explore models that allow financial institutions and payment companies to use USDT for cross-border payments and settlement.