The Singapore stock exchange is to launch a new crypto asset platform with the country’s DBS Bank becoming the first customer.
SGX’s MaxxTrader will operate MaxxDigital, which was known for institutional services of foreign-exchange and risk solutions. The report comes at a time when Singapore is tightening regulations, primarily to safeguard retail investors.
New Offerings Emerge Amid Tightening Regulations
Lee Beng Hong, head of FICC at SGX Group, called it a “trusted, stable, robust institutional grade infrastructure” when the digital asset market is “relatively inefficient, still relatively fragmented.”
This week, the Monetary Authority of Singapore (MAS) also announced legislative regulations to change existing rules. The new regulations substantially change how consumers access crypto in a controlled manner. One significant change is prohibiting credit facilities from offering services to retail customers for…
