Blockchain Institute launched by Huobi China in Hainan

Huobi labs and the Tianya community stated a partnership i order to build a "Global Cultural and Creative Blockchain Lab" in Hainan
16 May 2018   974

The information about Huobi to complete the creation of Hainan’s headquarters in 2018 and initiates a billion-dollar global blockchain industry fund has been confirmed by the Huobi official.

This time Huobi set Hainan in a cooperative way and had in-depth collaboration with the old Tianya community. Huobi hopes on the influence of the Tianya community in Hainan to develop the Huobi business there.

Also, Huobi aims to complete its 5 constructive plans correspondingly with the mission of the Hainan Special Administrative Region:
1. The Chinese headquarters of the Huobi will be replaced to Hainan and placed in Hainan Ecological Software Park.
2. Organize a $1 billion fund for the global blockchain industry.
3. Establish a global top blockchain research institute together with the world's top universities.
4. Cooperate with the world's major industry firms to found 10 global blockchains + laboratories.
5. Construct a 40,000 square meter blockchain incubator.

Hainan is as well going to arrange and develop the first non-profit cutting-edge research institute concentrated on blockchain technology. After being established, the institute will have a global blockchain innovation fund, a blockchain laboratory, and a blockchain innovation talent-preparing center, an incubation park and industry summit forum.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   261

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.