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Blockchain News – The Signal #6

by | Jun 7, 2019 | Blockchain Business, The Signal | 0 comments

The Signal is your weekly roundup of the most important news coming from the blockchain space in Asia. This week’s stories include Security Commission Malaysia’s major announcement of the first 3 cryptocurrency exchanges to receive conditional approvals to operate locally, the launch of Thailand’s letter of guarantee network on blockchain, Dr Mahatir Mohamad’s proposal for a new gold-backed currency, and more. Check it out below.

3 Cryptocurrency Exchanges Get License to Operate in Malaysia

Announced by the Security Commission Malaysia, the first 3 digital asset exchanges, or Registered Market Operators (RMOs), to get a provisional approval from the SC to operate in Malaysia are Luno, Sinegy, and Tokenize Exchange. Here are the full details.

Thailand Launches Blockchain Letters of Guarantee Network for 22 Banks

22 Thai banks have joined an electronic Letter of Guarantee (e-LG) network on blockchain via BCI (Thailand) Co Ltd with support from the Bank of Thailand (BOT). The e-LG on blockchain is expected to go live in June under the BOT’s regulatory sandbox, before introducing additional beneficiaries in the third quarter of 2019 and providing other blockchain-based services in the future. 

Malaysian Prime Minister Proposes Gold-Backed Currency

Prime Minister Dr Mahathir Mohamad says Malaysia is proposing a new currency based on gold, as this would be more stable than the current currency trading which is manipulative. He said the precious metal could be used to evaluate import and export activities among the East Asian countries.

Malaysia’s First Ever Blockchain-Powered Game

Agmo Studio, a Malaysia-based software company is announcing the release of the blockchain-powered MotomoPets game with augmented reality features. This makes MotomoPets the first-ever blockchain-powered game developed in Malaysia.

Pacific International Joins Singapore-backed Blockchain Platform

Today, Global eTrade Services (GeTS) announced that leading shipping company Pacific International Lines (PIL) has joined their digital logistics platform. This platform, CALISTA, allows companies to manage their global supply chains digitally and part of the system uses blockchain.

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