Paxos has secured an in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for Paxos Digital Singapore. This approval marks an expansion of a US dollar stablecoin platform into the Asian market, aligning with MAS’ forthcoming stablecoin framework. The news comes after several new tokenization pilots were released in the region to increase commercial The post Regulatory victory for Paxos as Singapore approves US dollar stablecoin plan appeared first on CryptoSlate.

The Asia-Pacific (APAC) region, a dynamic hub of banking and payment services, is facing a dual challenge: making notable advancements in fraud prevention while grappling with the evolving sophistication of financial scams. A recent report by Feedzai and Chartis Research, “Scam Prevention in Asia-Pacific: A Survey of Banking and Payment Provider Professionals,” offers an insightful The post Despite 80% AI adoption, APAC banks grapple with confidence in scam prevention appeared first on CryptoSlate.

The Monetary Authority of Singapore (MAS) has escalated its efforts to expand its asset tokenization initiatives under Project Guardian. This move aims to catalyze the institutional adoption of digital assets, aiming to unleash liquidity, unlock new investment opportunities, and enhance the efficiency of financial markets. A key advancement in this endeavor is the initiation of The post Singapore’s Monetary Authority launches new asset tokenization pilots with Project Guardian expansion appeared first on CryptoSlate.

Judge Amy Berman Jackson has denied the joint motion for a protective order in a notable development in the legal tussle between Binance, the world’s largest cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC). This decision underscores the heightened scrutiny and legal complexities characterizing the cryptocurrency sector’s current regulatory landscape. The recent order The post Judge denies Binance and SEC request for protective order to avoid filings under seal appeared first on CryptoSlate.

Sora Ventures has joined a consortium of investors in a $7 million funding round for Fhenix. This significant investment supports the development of the Fhenix Network, poised to be the first confidential blockchain platform leveraging fully homomorphic encryption (FHE) within the Ethereum ecosystem. Jason Fang, the Founder of Sora Ventures, expressed his enthusiasm for the The post Sora Ventures invests in Fhenix, fuels first confidential blockchain using homomorphic encryption appeared first on CryptoSlate.