SINGAPORE, July 9 — Singapore Exchange (SGX) has no immediate plans to allow cryptocurrency listings on its bourse, CEO Loh Boon Chye said on Tuesday, adding that conditions are...
Singapore Exchange CEO Loh Boon Chye speaks at the Reuters NEXT conference in Singapore July 9, 2024. Loh said there are no immediate plans to allow cryptocurrency listings on its bourse, adding that conditions are still not ripe for such a move. — Reuters picSINGAPORE, July 9 — Singapore Exchange has no immediate plans to allow cryptocurrency listings on its bourse, CEO Loh Boon Chye said on Tuesday, adding that conditions are still not ripe for such a move.
“I think for any new product launches, it’s important for this to have a sustainable ecosystem support,” he said. “That really means demand, that really means governance, that really means structure.” Crypto ETF inflows have helped catapult bitcoin to record highs this year, with the world’s largest crypto up nearly 35 per cent to date. Ether has risen over 30 per cent in the same period.“You never say never, as time evolves, and as the ecosystem comes together, we are always known to be the most innovative exchange or platform in the world.”
Hamstrung by a small base of retail investors, SGX has grappled with low liquidity and valuations. It has built up an Asian derivatives business and remains a global listing venue for real estate investment trusts.
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