THELOGICALINDIAN - Chicago and Singapore are two cities that are acceptable alike with bitcoin The Windy City is home to CME and DRW two above banking firms that are capitalizing on the acceleration of bitcoin while Singapore is all-embracing all things crypto The account that DRW is assertive to accessible a Singapore trading boutique for bitcoin appropriately makes absolute faculty in a move that will accredit DRW to access up its Asian operations and allure above clients
See also: Central Bank of Singapore Sees No Reason to Regulate Cryptocurrencies
A Match Made in Heaven?
The arch of Singapore’s Monetary Authority recently announced that the city-state had no ambition of acclimation cryptocurrencies and accustomed the advance in appeal for bitcoin. In 
settling on a area for its new Asian trading base, Singapore was a accustomed best for DRW. The Chicago trading close is no newcomer to bitcoin, accepting been in the bold back 2014, back its Cumberland Mining accessory began bitcoin trading.
DRW accept ahead approved their savviness back it comes to bitcoin, snapping up 27,000 of Ross Ulbricht’s bedeviled bitcoins for $7.6 actor in 2015 for a amount that now looks like a bargain. Speaking to Business Insider, Cumberland Mining arch Bobby Cho batten of the approaching Asian expansion, stating:
Hunting for Whales
DRW’s primary audience are bitcoin whales – those investors able of bottomward millions of dollars on a distinct trade. While trades of amid $1 actor and $5 actor are the barometer 
for DRW, the close has additionally handled above trades of amid $20 and $50 million. Another absorbing tidbit to appear from Cho’s babble with Business Insider is area he sees the Chinese bazaar going. As the Chinese government has clamped bottomward on exchanges, investors accept been affected to attending overseas, with Japan and Singapore the prime beneficiaries.
“China has consistently been a blah box with a lot of things,” said Cho. “So I don’t attending at the befalling as accurately aggravating to abduction China. We appetite to accommodate institutional-grade clamminess to the world, behindhand of area you are located.”
With its aerial admeasurement of monied investors and activity for arising technology, the Asian bazaar is accomplished for trading firms gluttonous to bolt the bitcoin beachcomber that’s beatific the bill scuttling aloft $7,000 already more. For DRW and its ambitious Asian clients, the accession of the firm’s Singapore trading board can’t appear anon enough.
Do you anticipate Singapore is acceptable the bitcoin basic of Asia? Let us apperceive in the comments area below.
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