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Home Monthly Roundup Singapore Cryptocurrency and NFT News Roundup March 2023

Singapore Cryptocurrency and NFT News Roundup March 2023

Find out the latest cryptocurrency, Web3, and NFT news in Singapore for the entire month of March 2023 only here at SGBusinessTalk. 

Wassies NFT Prices Surge as Crypto Twitter Lore-Themed Hotel Opens in Singapore

The Wassies hotel in Singapore has opened its doors to guests, and its NFT-themed rooms have quickly become a hot commodity. The hotel is named after the popular Crypto Twitter user @bywassies, and each room is decorated with NFT art inspired by various crypto-themed lore. The room demand has led to a surge in NFT prices, with some art pieces displayed in the rooms selling for over $100,000. The hotel also offers crypto-related services, such as accepting payments in cryptocurrency and providing access to different crypto-trading platforms. The success of the Wassies hotel is seen as a testament to the growing mainstream adoption of cryptocurrencies and NFTs.

Read more: https://www.coindesk.com/business/2023/03/27/wassies-nft-prices-surge-as-crypto-twitter-lore-themed-hotel-opens-in-singapore/


Sony Network Communications and Astar Network’s Joint Web3 Incubation Program Receives over 150 Registrations

Over 150 registrations have been received for the joint Web3 incubation program by Sony Network Communications and Astar Network. Sony and Astar Networks have partnered with Startale Labs, a Singaporean firm established by Astar Network CEO Sota Watanabe, to launch their joint Web3 incubation initiative. The program aims to help developers and entrepreneurs build blockchain and decentralized finance (DeFi) applications using Sony’s blockchain platform while providing them mentorship and access to funding opportunities. The incubation program will run for six months and provide selected participants with technical support, development tools, and workspace. The partnership between Sony and Astar Network comes amid growing interest in Web3 technologies and the increasing adoption of blockchain and DeFi applications in various industries.

Read more: https://financefeeds.com/sony-network-communications-and-astar-networks-joint-web3-incubation-program-receives-over-150-registrations/


Sumsub and Mercuryo release a Web3 onboarding guide

Blockchain compliance company Sumsub and digital payments provider Mercuryo have released a guide on onboarding for Web3. Using their industry experience and the guidance provided by the Singapore Personal Data Protection Commission (PDPC) outlined best practices for handling user data to ensure secure onboarding that complies with existing and upcoming regulations. The guide aims to ease creating a wallet and trading cryptocurrency for new Web3 users. The guide also highlights the security challenges associated with decentralized finance and advises users to be cautious when entering the space. Sumsub’s expertise in regulatory compliance and Mercuryo’s expertise in digital payments combine to make the guide a comprehensive tool for new users in the Web3 space.

Read more: https://thepaypers.com/cryptocurrencies/sumsub-and-mercuryo-release-web3-onboarding-guide–1261686


XCMG Announces Partnership with Conflux and Zen Spark Technology

XCMG Construction Machinery Co., Ltd., one of the world’s largest construction machinery manufacturers, recently announced a new partnership that could revolutionize the industry. The company has teamed up with Conflux, a top-tier public blockchain network, and Zen Spark Technology Pte Ltd, a Singapore-based blockchain and fintech company, to explore the potential applications of blockchain technology in construction machinery. The collaboration aims to develop new use cases and innovative applications for blockchain, including non-fungible tokens (NFTs) and other decentralized applications (dApps). With this partnership, XCMG is positioning itself as a leader in adopting blockchain technology in the construction industry. This move could increase efficiency, reduce costs, and improve transparency and traceability in the supply chain. 

Read more: https://beincrypto.com/xcmg-chooses-conflux-for-nfts-and-future-global-blockchain-applications/

Alchemy Pay and Berkah Digital obtain licenses from the Central Bank of Indonesia

Singapore-based crypto gateway Alchemy Pay and Berkah Digital, two blockchain payments firms, have secured a license from the Central Bank of Indonesia to operate in the country’s digital payments sector. The move comes as part of the Indonesian government’s ongoing efforts to modernize its financial system and promote greater financial inclusion. Under the new license, both companies will be able to provide digital payment services to Indonesian consumers and merchants, including the ability to accept payments in cryptocurrency. The move is expected to open up new opportunities for merchants to expand their customer base, particularly among younger consumers who are increasingly comfortable with digital payments and cryptocurrencies. In addition, the license is expected to further boost the growth of Indonesia’s digital economy, which has seen significant growth in recent years as more consumers turn to online shopping and other digital services.

Read more: https://thepaypers.com/payments-general/alchemy-pay-and-berkah-digital-obtain-license-from-central-bank-of-indonesia–1261570

Singapore Gambling Regulatory Authority to Crack Down on Use of Crypto Assets

The Singaporean Gambling Regulatory Authority (GRA) has declared its intention to tighten regulations surrounding the use of cryptocurrencies in the gambling industry. The GRA is concerned about the increased risks of money laundering, terrorist financing, and other illegal activities associated with virtual currencies. This decision comes after the recent surge in the popularity of cryptocurrencies and the subsequent increase in their use in online gambling. The GRA has warned that individuals or businesses not complying with the new regulations will face severe penalties.

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Read more: https://europeangaming.eu/portal/compliance-updates/2023/03/14/131800/singapore-gambling-regulatory-authority-to-crack-down-on-use-of-crypto-assets/

Thunes Raises $30 Million So Far in Ongoing Investment Round

Thunes, a cross-border payments platform, has reportedly raised $30 million in an ongoing investment round. The Singapore-based company intends to use the funds to expand its services and grow its team. Thunes provides a platform for transferring money across borders quickly, securely, and cheaply, catering to individuals, businesses, and financial institutions. The company has a global presence and works with partners such as Western Union, M-Pesa, and PayPal to enable cross-border payments. Thunes is committed to making financial services accessible to everyone, regardless of location or economic status. The company’s latest funding round is a testament to the growing demand for cross-border payment solutions and Thunes’ success in this space.

Read more: https://www.pymnts.com/news/investment-tracker/2023/thunes-raises-30-million-dollars-so-far-ongoing-investment-round/


Vauld Granted Another Creditor Protection Extension In Singapore

Singapore-based crypto lender Vauld has been granted another extension of creditor protection by the High Court of Singapore. The extension, granted on March 13th, will give Vauld additional time to negotiate with creditors and work towards a restructuring plan. This is the second time Vauld has been granted creditor protection, the first being in December 2022. The company has faced financial difficulties due to market volatility and has been working to restructure its debt and raise additional funds. With this new extension, Vauld is expected to continue operations as usual and work towards a resolution with its creditors.

Read more: https://cryptodaily.co.uk/2023/03/vauld-granted-another-creditor-protection-extension-in-singapore


METABORA SINGAPORE Signs MOU with NEAR Protocol to Enhance Web3 Cross-Chain Ecosystem

Metabora Singapore has signed a Memorandum of Understanding (MoU) with Near Protocol to enhance the Web3 cross-chain ecosystem. The partnership aims to provide better scalability and interoperability for the blockchain industry. According to the MoU, both parties will cooperate on technology development and community building to support cross-chain transactions on their respective platforms. This collaboration will enable Metabora to provide its users access to Near’s fast, low-cost transaction network. At the same time, Near can leverage Metabora’s ecosystem to expand its reach in Southeast Asia. The partnership will also explore the potential of cross-chain NFTs and DeFi applications.

Read more: https://www.benzinga.com/pressreleases/23/03/n31218362/metabora-singapore-signs-mou-with-near-protocol-to-enhance-web3-cross-chain-ecosystem


Fintech Investor BitRock Capital Plans to Raise New US$100 Million Fund

Bitrock Capital, a Singapore-based fintech investment firm, has announced its plans to raise a new fund of $100 million to invest in fintech startups globally. The company, founded in 2018, specializes in investing in fintech companies that offer innovative solutions to financial problems. Bitrock Capital has previously invested in notable fintech companies such as TransferWise, Revolut, and N26. The new fund will focus on global early-stage investments in fintech companies, with a particular interest in Southeast Asia, India, and Europe. Bitrock Capital is also planning to expand its team to support the new fund and is currently hiring for multiple positions.

Read more: https://fintechnews.sg/70922/funding/fintech-investor-bitrock-capital-plans-to-raise-new-us100-million-fund/


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