Tokyo-based financial services giant SBI Holdings announced a joint investment in Coinhako, Singapore’s first licensed crypto exchange approved by the Monetary Authority of Singapore (MAS). The Coinhako investment was made via a fund jointly set up by SBI and Swiss-based Sygnum Bank, namely, the SBI-Sygnum-Azimut Digital Asset Opportunity (DAO) Fund, according to the notice. Speaking to Cointelegraph, a MAS spokesperson highlighted the importance of seeking licensing approvals for crypto businesses: “MAS' approach to regulation under the Payment Services Act seeks to facilitate innovation while ensuring that adequate controls are in place to address key risks such as money laundering and …
Marshall Wace, a London-based hedge fund giant managing about $55 billion in assets, is reportedly planning a major move into cryptocurrency and blockchain investment. The hedge fund firm is preparing to launch a dedicated portfolio, targeting investments in the digital asset industry, the Financial Times reported on Tuesday. Citing anonymous people familiar with the matter, the report notes that the new initiative will focus on investing in privatelyowned digital finance companies working in areas like blockchain technology and payments systems for digital currencies and stablecoins. It is believed that Marshall Wace’s new digital finance portfolio will be headed by Amit …
The consolidation of cryptocurrency-related companies surged massively in 2020, hitting a new record in deal activity, according to a new report by professional services network PwC. The total volume of mergers and acquisitions in the crypto industry more than doubled from $481 million in 2019 to $1.1 billion in2020, PwC said in a Monday market overview, as seen by Bloomberg. The average deal size in crypto surged from $19 million in 2019 to nearly $53 million, with crypto fundraising increasing 33% in overall value in 2020. Countries in the EMEA region saw a notable spike in the number of deals, …
The world’s largest cryptocurrency, Bitcoin (BTC), is at a defining moment in history, according to analysis from United States investment bank Citigroup. Bitcoin is now at a “tipping point” to either become the preferred currency for international trade or face a “speculative implosion,” Citi analysts reportedly said. According to a Reuters report Monday, Citi analysts are confident that Bitcoin is on the cusp of going mainstream. According to the report, Bitcoin’s tremendous potential has been fueled by recent big Bitcoin moves by companies like Tesla and Mastercard. Citi analysts wrote, “There are a host of risks and obstacles that stand …
Self-sovereignty is a core principle in the cryptocurrency space: Investors need to rely on a trustless, decentralized network instead of a central entity that has been known to devalue the holdings of others. One shortcoming associated with self-sovereignty, however, is inheritance. An estimated 4 million Bitcoin (BTC) has been lost over time and now sits in inaccessible wallets. How many of those coins belong to HODLers who passed away without sharing access to their wallets with anyone else is unknown? Some believe Satoshi Nakamoto’s estimated 1 million BTC fortune hasn’t been touched for this very reason: No one else had …