Funds raised by ICOs have already overtaken angel and seed venture capital (VC) funding, raising more than US$550m for issuers globally, compared to the US$300m raised from VC firms by June of last year.
In June, Singaporean fintech startup TenX raised close to US$80m from a token sale, making them one of the most succesful start ups globally to launch an initial coin offering (ICO). TenX aims to bring bitcoin into the real world by converting cryptocurrency into fiat money in a physical Visa-backed card, noted TenX founder Dr. Julian Hosp.
As more startups like TenX utilise these virtual currencies as a more innovative alternative to raising capital and expanding their operations, the Monetary Authority of Singapore (MAS) published a paper offering general guidance on the regulation of digital token sales. ICOs, particularly, are increasingly becoming mainstream as a way for startups to raise funds, with 200 ICOs raising over US$3.3b globally last year. Studies indicate that Singapore is currently the third largest ICO hub in the world after the United States and Switzerland and this situation will likely ride on an upward trajectory given the policy and regulatory backing by the Singaporean government through MAS.
Notable deals in 2017
Singapore Business Review rounded up the biggest ICOs of 2017 by Singaporean raisers, and whilst we cannot verify all funding quantums, we believe the table pretty much sums up the most talked about ICOs in 2017. Some of the notable deals in 2017 include US-Singaporean startup Quoine which raised US105m in funding.
Nizam Ismail, partner at RHTLaw Taylor Wessing also cited Aptoide, an app store with 200 million users, which successfully raised US$15m out of Singapore. They are considered the first app store to use blockchain. There is also Megax, a Singapore-based company that set up an e-commerce fashion ecosystem. Based on our compiled list, these major deals amounted to US$381.42m in funding, with average funding around US$25.43m.
ãã®èšäºã¯ Singapore Business Review ã® February - March 2018 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Singapore Business Review ã® February - March 2018 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Smile API Eases Loan Process
Financial institutions and lenders rely on credit worthiness to grant loans, but assessing it can be challenging with only employment and payroll information. Smile API addresses this challenge by transforming employment data into credit data.
Industry Concerns Rise As Accountant Numbers Decline
Accounting firms and universities strive to boost the sector's appeal with new roles and education programmes.
New Rule Curbs Biases Against Flexi Work
Employers who oppose remote work solely because it deviates from traditional office norms can no longer deny this option to employees and may face consequences for doing so.
Trials Target Better Management Of Treatment-Resistant Depression
Managing treatment-resistant depression (TRD) can take months to years, but Singapore is accelerating the process by embarking on trials of personalised transcranial magnetic stimulation (TMS) specifically tailored for Asian brains.
Singapore's tech powerhouses triumph at SBR Technology Excellence Awards 2024
In today's digital age, technological innovation is not just a competitive advantage; it is a key driver of progress. Companies that embrace digital disruption and leverage the power of technology are unlocking a world of opportunity, transforming industries, and shaping a more connected future.
InterContinental unveils rain refund package for guests
Guests receive a refund for a 1-night room rate if it rains for more than 2 hours during their stay.
New law weaves in work protections and retirement benefits into gig workers' safety net
Platform workers will be able to make CPF contributions into their ordinary and special accounts.
Surbana Jurong's new HQ integrates green spaces and smart technology
The headquarters features biophilic elements that enhance natural light and air circulation.
ION Orchard dives into gamification amidst experiential retail demand
The mall's in-app augmented reality game offers more than 30 rewards.
Why Singaporeans are okay with locking away over $4b of their money
Customers can only access lockedâ money with a physical card or by visiting a branch.