BLOCKCHAIN YOVO to be First Stellar-Based Mobile Network

Crypto mobile phone network is another premiere from the island of the blockchain:  London startup YOVO has chosen Malta as the area for its project development
09 June 2018   2194

YOVO is a TLC network based on the Stellar blockchain technology, that makes possible to earn and spend cryptocurrencies on telephone services. YOVO aims to become the first mobile telecommunications network with its digital currency. The project is introduced by the team of 30 members and a starting investment of 20 million euros. It has planned a cooperation with partners in 130 countries, a number that, as claimed by the startup in a press release, is expected to rise above 200 in the next 12 months.

With its rules and crypto-friendly structures Malta, a member of the EU, has endorsed many projects connected with cryptocurrencies and the distributed and decentralized blockchain protocol. The officials of the island are preparing to accept 3 new laws in order to open the doors to digital coins. The Malta Digital Innovation Authority Bill, the Innovation Technology Arrangements Services Bill and the Virtual Financial Assets Bill have come to the second reading in Parliament.

The Secretary for Financial Services and the Digital Economy and Innovation of the Parliament Silvio Schembri displayed the great satisfaction with the arrival of YOVO, a group led and co-founded by Richard Skaife (CEO).  

From the island we will be able to serve millions of digital customers with mobile services, since our headquarters will play an active role in the growing community of the blockchain.
Richard Skaife
Founder, CEO, YOVO

The most innovative mobile phone network in the world is proud to be able to settle in Malta, world leader in the field of blockchain. 

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   336

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.