Singapore Monetary Authority: More than 300 companies including Alibaba, Google and Binance apply for cryptocurrency payment or exchange licenses

According to the news, according to Bloomberg, Sopnendu Mohanty, chief financial officer of the Monetary Authority of Singapore (MAS), spoke of the improving financial situation in Singapore and the problems with cryptocurrencies and CBDCs in interviews. Currently, over 300 companies have applied to MAS for licensed cryptocurrency payment or exchange business in Singapore, including well-known companies such as Alibaba, Binance, and Google. Mohanty said the application was still being finalized and "providing such permits" would be good for the business and it was not a decision we could make. “We want our MAS approved suppliers to be able to trust it,” Mohanty said.

When it comes to central bank digital currency (CBDC), Singapore has opted for the wholesale CBDC model primarily for bank payments and financial transactions rather than the Chinese retail CBDC model, which focuses directly on the public and businesses. South Korea is the third largest interbank / wholesale CBDC in several countries, announced in April by PricewaterhouseCoopers. “Looking at the situation in Singapore, we don't know exactly what the CBDC store is. Now people can complete the trade with just a few clicks on their screen without paying any fees. What could be better than that? Wool sheet? "

When it comes to the cryptocurrency industry, Singapore's private sector has already invested heavily in these companies. The Singapore Stock Exchange is striving to become an Asian BTC and ETH pricing hub, and DBS Bank has also launched the first bank-funded trust solution in Asia. However, the Singapore government has once again warned its citizens of the dangers of investing in cryptocurrencies.

Mohanty said "Bitcoin is a desirable asset," Mohanty said, "People shouldn't blindly invest in assets they don't understand." "It's very different and very difficult. Yes, it's your own choice to buy high-risk assets."

But he also said that when it comes to trading, “I know the world is looking to digital currencies, CBDCs, fixed coins etc. The first thing to do Partior (JP Morgan Chase, Temasek) and Star is a joint "