Guess what? Singapore’s main derivatives exchange is launching two new crypto futures products this month. Because nothing says “institutional interest” like betting on the price of a digital asset that’s more volatile than a toddler on a sugar rush. 🚀💸
Perpetual futures are like a never-ending party where you can bet on the price of Bitcoin or Ethereum without worrying about the clock ticking. 🕒🔥
In a Monday announcement, SGX said it is launching new trading products to meet what it describes as the “rising institutional crypto demand, converging TradFi and crypto-native ecosystems.” Oh, sure, because who doesn’t want to merge TradFi (which is basically old money) with crypto-native ecosystems (which is basically a bunch of people in pajamas typing code). 🤯
The perpetual contracts will launch on Nov. 24. Perpetual futures are among the most actively traded crypto derivatives globally and could become a significant new revenue stream for SGX. Because nothing says “significant revenue” like a market that’s more stable than a tightrope walker on a trampoline. 🎭💰
The contracts will allow accredited and expert investors to trade exposure to the underlying assets without an expiration date. The offering will be regulated by the Monetary Authority of Singapore (MAS). Because nothing says “regulated” like a government that’s more cautious than a toddler at a buffet. 🍽️👮♂️
This marks the launch of the second Bitcoin and Ether-based perpetual futures in Singapore. The first offering was launched by EDXM International on July 23, along with a total of 44 trading products, including Solana (SOL) and XRP (XRP) futures contracts, according to EDXM’s announcement. So, after the first launch, they’re like, “Hey, let’s add more products! Maybe even XRP? Because who doesn’t want to bet on a coin that’s been through more drama than a soap opera? 🎭📉”
Singapore continues cautious crypto adoption
Singapore has maintained a cautious regulatory posture as it expands its digital asset framework.
In April 2022, Singapore passed the Financial Services and Markets Act (FSM) bill, granting MAS greater authority to regulate crypto firms that operate outside the country but are based in Singapore. Because nothing says “greater authority” like a government that’s more powerful than a superhero with a spreadsheet. 🦸♂️📊
The MAS previously set a June 30 deadline for local crypto service providers to stop offering digital token (DT) services to overseas markets. Because who needs to offer services to overseas markets when you can just… not? 🤷♀️
Firms that violate the rules face fines of up to 250,000 Singapore dollars ($200,000) and prison terms of as long as three years. Because nothing says “fines” like a country that’s more strict than a librarian with a clipboard. 📚👮♂️
Cryptocurrencies are legal in Singapore, but they are not considered legal tender. Instead, they are classified as digital payment tokens (DPTs), securities or utilities depending on their features. Because nothing says “classification” like a government that’s more confused than a toddler in a maze. 🧠🌀
Singapore ranked 15th on the global cryptocurrency adoption index, as compiled by blockchain analytics company Chainalysis. Because nothing says “adoption” like a country that’s 15th. 🥈
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2025-11-17 16:06