As one of the leading cryptocurrency market makers, Wintermute continues to expand its operations. Accordingly, the company stands out as the last company preparing to enter the Asian market.
Cryptocurrency market maker Wintermute has announced that it will move around 4% of its employees to Singapore to continue its expansion in Asia. Yoann Turpin, the co-founder of the UK-based company, will be one of the names that will lead this change.
This move is seen as part of efforts by other crypto firms to expand their operations in Asia. Circle moved to Singapore to obtain a digital token license. On the other hand, Gemini plans to open more than 100 new job positions with the aim of expanding its operations in Asia. Cryptocurrency firm FalconX is also aiming to obtain a digital token license in Singapore to enter the Asian market.
These developments follow a high court ruling that Singapore considers cryptocurrencies to be property and that such digital assets can be held in a trust. In addition, the Monetary Authority of Singapore has produced a guide that sets industry standards for types of digital assets.