SINGAPORE, Nov. 19, 2021 /PRNewswire/ — Edward Chen, CEO of Huobi Singapore, a number one international digital belongings buying and selling platform, participated on the Singapore Fintech Competition (SFF) this 12 months and shared his views on the expansion of the blockchain market within the subsequent few years.
In a speech on “Digital Property: From Fringe to Mainstream,” Edward offered an outline on the crypto panorama from the 2010s to 2020s and talked about that the business has proven important progress through the years. For instance, there at the moment are greater than 77 million international customers1 and over 6,000 international cash in 20212 as in comparison with solely 0.89 million international customers1 and 66 international cash in 2013.2
Analysis has additionally proven that this demand for crypto and blockchain will proceed to develop within the subsequent few years, with the blockchain expertise market measurement estimated to develop exponentially from US$3 billion in 2020 to US$39.7 billion in 2025.3 Blockchain expertise may also proceed to supply value-add to companies (primarily within the finance, non-public, healthcare and retail sectors) by an estimated US$3.1 trillion by 2030.4
He strongly believes that components similar to regulation, safety, value stability and threat administration play an essential function in shaping consumer adoption, and these are catalysts throughout the business that may usher digital belongings into extra mainstream acceptance.
“The crypto market has witnessed great progress in 2021, and but we’ve seen simply the tip of the iceberg. With ideas like Metaverse, Non-Fungible Tokens (NFTs), DeFi 2.0 and Net 3.0 gaining extra reputation and a focus, subsequent 12 months might be an thrilling 12 months for the entire blockchain business. As one in all Singapore’s main digital belongings alternate platforms, Huobi Singapore is happy to be a part of this journey. We stay up for working with the native regulators in addition to ecosystem companions to raise Singapore’s standing as a digital economic system,” mentioned Edward Chen, CEO of Huobi Singapore.
Huobi Singapore, a subsidiary underneath Huobi Know-how Holdings Restricted, has already utilized for the Main Cost Establishment Licence underneath the Cost Providers Act (“PS Act”) from the Financial Authority of Singapore. At the moment, Huobi Singapore is granted an exemption from holding a licence underneath the PS Act whereas the applying is underneath assessment. To offer customers with a secure and safe expertise, its digital belongings alternate platform has been designed to adjust to international regulatory requirements set by monetary regulators, with a powerful give attention to implementing a rigorous anti-money laundering (AML) program, and a sturdy Know-Your-Buyer (KYC) framework.
Huobi Singapore can be a eager advocate of blockchain training and might be collaborating in an academic workshop on Metaverse organised by the Singapore Blockchain Innovation Programme (SBIP) on the finish of November. Audio system embody Professor Yu Jia Ning from Huobi Training (previously Huobi College), Professor Ooi Beng Chin (Lee Kong Chian Centennial Professor at NUS and Lead Particular person-in-charge of SBIP), Lakshminarayanan (Lux) Anantharaman (Group Chief – Techniques Safety, Cybersecurity Division Institute for Infocommunications Analysis, A*STAR), and Dr Zhu Feida (Affiliate Professor of Pc Science at SMU). It is a free on-line occasion and you may register right here: https://sbip.sg/metaverse/
Watch Edward Chen, CEO of Huobi Singapore’s presentation right here: https://youtu.be/NLhEVUkLqiE
SOURCE Huobi Know-how