SGX CEO: No Immediate Crypto Listings, But Singapore Moves Toward Global Crypto Hub

July 10, 2024
SGX CEO: No Immediate Crypto Listings, But Singapore Moves Toward Global Crypto Hub
  • SGX CEO Loh Boon Chye confirmed no immediate plans for cryptocurrency listings, including Bitcoin or crypto ETFs, at the Reuters NEXT conference.

  • Chye emphasized the need for a sustainable ecosystem to support such products.

  • He did not rule out the possibility of crypto listings in the future.

  • Despite SGX's stance, Singapore has approved spot Bitcoin ETFs, boosting cryptocurrency gains.

  • Singapore aims to become a global crypto hub with high adoption rates among investors.

  • The Monetary Authority of Singapore has granted regulatory approval for stablecoin issuer Paxos.

  • SGX reported a slight decrease in net profit for the first half of the 2024 financial year.

  • SGX is under pressure to attract listings of high-growth companies.

  • Investors can monitor developments through the Reuters NEXT news page.

Summary based on 8 sources


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