Coinbase and Ripple licenses, Kraken’s interest in the EC market and other crypto industry events


We have collected the most important news from crypto industry participants over the week.

  • The Singapore regulator has issued full payment institution licenses to Coinbase and Ripple.
  • Kraken will take over Dutch crypto broker BCM.
  • The crypto subsidiary of the investment bank Nomura has opened an office in Tokyo.
  • Red Acre Ventures renamed Deus X Capital.
  • Bitfinex Securities will help Mikro Kapital introduce security tokens into microfinance.

Singapore regulator issues full payment institution licenses to Coinbase and Ripple

The Monetary Authority of Singapore (MAS) has granted major payment institution licenses to Coinbase and Ripple following its earlier in-principle approval.

In the case of the crypto exchange, the MAS registration paved the way for the Singapore unit to offer a wide range of digital payment token services to both retail and institutional clients, as well as strengthen its ties with local institutions.

The license issued to Ripple allows it to continue providing services related to digital payment tokens. According to representatives of the California-based fintech company, 90% of its business is conducted outside the United States.

Kraken will acquire crypto broker BCM from the Netherlands

Kraken has announced its intention to acquire Netherlands-based digital asset broker Coin Meester BV (BCM).

The latter provides services for buying, selling and staking assets, including access to more than 170 cryptocurrencies and local payment solutions. The deal will allow Kraken to strengthen its presence in the European market ahead of the entry into force of MiCA in December 2024.

Kraken previously received licenses VASP in the UK, Ireland, Italy and Spain. Company representatives said they are working to obtain registration in other EU markets.

The crypto subsidiary of the investment bank Nomura opened an office in Tokyo

Laser Digital Asset Management, a subsidiary of Japanese investment firm Nomura, has opened a new office in Tokyo. It will be headed by the CEO of another holding organization – Digital Company – Hideaki Kudo.

Previously, the top manager was responsible for digital asset strategy, including projects such as the development of security tokens for Nomura and the launch of Japan’s first real estate offering of such assets.

Laser Digital’s headquarters are located in Switzerland. The company also has offices in London and Dubai.

In September, the structure launched a fund for institutional clients to access digital assets.

Red Acre Ventures renamed Deus X Capital, it will be headed by a former top manager of Galaxy Digital

Digital asset-focused investment firm Red Acre Ventures will continue to operate under the Deus X Capital brand. Its assets exceed $1 billion. Funds are used to participate in direct investment transactions, venture capital and the creation of venture funds.

The structure was headed by the head of the Galaxy Digital division in the EMEA region, Tim Grant. The top manager is also known for his work at SIX Digital Exchange and R3 Lab.

DeusX invests globally, with offices in Malta, London and the UAE.

Bitfinex Securities will help Mikro Kapital introduce security tokens into microfinance

Partners will consider tokenization projects, listing and trading of tokens, as well as the possibility of using USDT and EURT to attract capital and microfinance for firms.

The portfolio of Luxembourg Mikro Kapital amounts to €1.35 billion, the number of borrowers is 300,000 from 14 countries. Bitfinex Securities is registered by the Financial Services Authority of Astana (Kazakhstan) and the National Digital Assets Commission of El Salvador.

Also on ForkLog:

What to read this weekend?

Forbes conducted an investigation into the rise of leading cryptocurrency exchange Binance, from a virtually failed ICO in 2017 to large holdings of digital assets.

The WSJ found that a few months before FTX’s collapse, a group of employees discovered a backdoor in the exchange’s code that allowed subsidiary trading firm Alameda Research to have a negative balance of $65 billion.

ForkLog also talked about the first days of the trial of the founder and ex-CEO of FTX Sam Bankman-Fried.

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