Blockchain Expert From China Launches Exchange in Singapore
IIIBTC Blockchain Technology Pte Ltd is a company that was established in China and has announced its launch in Singapore. The company has established a reputation as a strong blockchain development service provider and is designed to cater to an extensive pool of investors.
The IIIBTC trading platform allows for the mining and exchange of multiple cryptocurrencies. IIIBTC is a MAS approved Initial Coin Offering(ICO) issuer. The trading platform in Singapore is expected to go live in September 2018. While some countries are increasing regulations on cryptocurrencies, Singapore is open to it and is creating a vibrant and competitive environment for this technology to grow.
Mr. Shawn Tham, IIIBTC’s Singapore representative made a statement on the exchange’s expansion in Singapore. He said,
The combination of blockchain technology, cryptocurrency and big data has brought forth a revolutionary breakthrough, with a potential to change the global financial structure. We are excited to launch the platform in Singapore, an international financial hub with a strong reputation in its adequate financial regulatory framework.
Furthermore, Mr. Clarence Guo, a lawyer at Tzedek Law LLC, the first consulting firm in Singapore to provide advisory services related to Blockchain technology also commented on the regulation and compliance situation around blockchain in the country. Guo said,
Lack of proper regulation and governance has resulted in several undesirable phenomena in the blockchain space. The industry needs a regulatory framework to grow to the next level, and it’s commendable that IIIBTC is willing to comply with laws and regulations to grow its business in Singapore and provide a credible crypto exchange.
Mr. Tham further talked about Singapore’s openness to this new technology. He said,
Singapore’s stance on crypto business showcases its open mindedness and forward thinking, and its confidence in maintaining a proper, pragmatic regulatory framework while not hindering the growth of a budding business. We strive to serve crypto investors from China and other parts of the world with our secure, stable, efficient and transparent trading platform, under the governance and guidance of the Singapore regulatory bodies. We hope that our platform will benefit the blockchain investors in the long term.
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