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HKVAEX and VAEXC are different crypto platforms in Hong Kong and have nothing to do with each other, a HKVAEX representative said. Hong Kong cryptocurrency exchange HKVAEX has not applied for a virtual asset trading platform license with Hong Kong’s Securities and Futures Commission (SFC), a spokesperson for HKVAEX has said. Amid multiple reports erroneously suggesting that HKVAEX has applied for an SFC license , the HKVAEX representative claimed the crypto exchange is yet to submit an application. “We are still preparing for the application at the moment,” the HKVAEX representative told Cointelegraph on Nov. 27. The spokesperson stressed that HKVAEX should not be confused with VAEXC, which applied for a crypto license in Hong Kong on Oct. 25, according to SFC data. “VAEXC is another applicant, and they have nothing to do with us,” the HKVAEX representative said, adding that the firm is unrelated to HKVAEX. Hong Kong VAEXC license application. Source: SFC The news came a few weeks a...

Ripple has secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This approval follows MAS’ initial in-principle approval for Ripple’s license application in June 2023. With this license , Ripple can provide regulated digital payment token services in Singapore. Given that approximately 90% of Ripple’s business takes place outside the United States, the Asia-Pacific (APAC) region is gaining prominence as a significant market for the blockchain company. You might also like: Ripple backs out, won’t acquire Fortress Trust Brad Garlinghouse, the chief executive officer of Ripple, said: “Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business. We have hired exceptional talent and local leadership, doubling headcount over the past year, and plan to continue growing our presence in a progressive jurisdiction like Singapore. Under MA...