Summary
- Singapore Exchange (SGX) said it will launch perpetual futures products for Bitcoin (BTC) and Ethereum (ETH) from November 24.
- The product will be offered to investors approved under Monetary Authority of Singapore (MAS) regulation.
- The Singapore government said it is maintaining cautious regulation while expanding virtual asset-related institutional arrangements, including the passage of the Financial Services Market Act (FSM).
Singapore Exchange (SGX) said it will launch perpetual futures products based on Bitcoin (BTC) and Ethereum (ETH) to respond to growing demand for virtual assets (cryptocurrencies) centered on institutional investors.
On the 18th (local time), according to Cointelegraph, SGX's derivatives division said it will begin trading Bitcoin (BTC) and Ethereum (ETH) perpetual futures from November 24.
SGX said the product is "to respond to increased institutional investor demand and the convergence between traditional finance and the cryptoasset ecosystem." The product will be offered to investors approved under regulation by the Monetary Authority of Singapore (MAS).
With this launch, Singapore will have a second market for Bitcoin and Ethereum perpetual futures. Earlier, EDXM International introduced a total of 44 derivative products on July 23, including Bitcoin and Ethereum as well as Solana and XRP.
Singapore is maintaining a cautious regulatory stance while expanding related institutional arrangements. The Singapore government passed the Financial Services Market Act (FSM) in 2022 to strengthen supervisory authority over Singapore-based virtual asset firms operating overseas.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
![Strait of Hormuz blockade persists… Dow hits new year-to-date low [New York market briefing]](https://media.bloomingbit.io/PROD/news/434d802d-63ac-4737-af19-92c5bad099a6.webp?w=250)
