The reserve banks in each country have teamed up to trial a new platform for enabling cross-border transfers denominated in a central bank digital currency.
Singapore has prohibited the cryptocurrency exchange from offering payment services in the country, while South Africa has issued a warning against Binance.
The Global CBDC Challenge was geared towards discovering and developing retail central bank digital currency solutions that will benefit the world.
The latest reports paint a picture of an extremely wealthy company (and founders), one that is facing very different situations in the various jurisdictions it operates in.
The company has placed an order to purchase 800 digital currency mining machines that will be deployed at facilities in Southeast Asia.
Hot on the heels of the sudden and mysterious resignation of new Binance.US CEO Brian Brooks comes more speculation the exchange may be under the U.S. Securities and Exchange Commission probe.
When the license is officially approved, DBSV said its clients would be able to access digital payment token services directly through its exchange platform, DBS Digital Exchange (DDex).
Australian digital currency exchange Independent Reserve received the regulatory go-ahead under the provisions of the Payment Services Act, which was brought into law in January 2020.
The Global CBDC Challenge focuses on enhancing the effectiveness of payment and stimulating financial inclusion through the discovery of innovative retail ideas driven by the CBDC solution.
Singapore police noted that 393 reports of digital currency-related crime were filed in 2020, three times higher compared to 2019.
The latest vertical that has emerged from the inception of technological advancements is getting multimillion financial attention in Singapore.