100 Firms Fail ❌ to Obtain Digital Payment Token Licenses in Singapore πŸ‡ΈπŸ‡¬

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ROI Overload is a daily radio show/video podcast show focused on the latest in trending topics in business, tech, finance and startups hosted by Scott D. Clary (@scottdclary).

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Welcome to Roy Overload daily business, tech and finance news. I'm Scott declary. This is what's making news today. Over one hundred firms failed to obtain the digital payment token licenses in Singapore, obviously drastically reducing the ability of these businesses to expand and offer crypto services. Ten cent gives shareholders sixteen point four billion dollars in the form of a dividend from a jdcom stake. Amazon web services experiences the third outage this month and the European tech startup deal room raises six million dollars in a series a funding round. Let's jump right into it. So first story of the day crypto out of Singapore. So, in a significant development, over one hundred companies that applied for a license to offer crypto services in Singapore have reportedly failed to obtain licenses from the local financial regulator. Apparently, one hundred and three out of one hundred and seventy digital payment...

...token services in Singapore found their applications to be turned down or withdrawn by the countries Central Bank, the Monetary Authority of Singapore or MAS. cryptocurrency could be used and abused for money laundering, terrorism, financing or proliferation financing due to the speed and cross border nature of the transaction, said the monetary authority of Singapore in in reference to the fact that they turned down so many applications. Companies that were operating Singapore before the introduction of the licensing rule were granted exemptions until their license applications were process the development comes amid some of the biggest crypto exchange movement, as many large cryptox changes are leaving the country completely due to the strict regulations. Earlier, Finance Singapore, the local branch of the world's largest cryptox change platform, finance, stopped on boarding new users. That was December thirteen, thing saying that it plans to completely close operations in Singapore by...

...mid February. Moreover, who be exchange has also announced plans to close accounts of all Singapore based users by the end of March, two thousand and twenty two and re enter Singapore through a different local entity. Ten cent has this is the Chinese gaming and social media giant. Ten cent, is weakening its ties with the e commerce firm jdcom by paying out a sixteen point four billion dollar dividend to shareholder ten cent, which at first invent invested in jdcom in two thousand and fourteen, said it will distribute a hundred and twenty seven point six nine billion Hong Kong dollars, or sixteen point four billion dollars US D, worth of its jdcom state to shareholders, reducing its share and holding in Jadcom to two point three percent from the current seventeen percent. With this decision, ten cent will lose a spot as the biggest shareholder in jadcom, China's second largest e commerce company after Walmart. This move from ten cent comes as...

China is making widespread regulatory crackdown on technology companies, aiming for their overseas growth ambitions and concentration of market power and China. Ten Cent said that it was the right time to transfer its stake from the company as it has reached the stage where it can fund itself for its own growth. However, this move by tense and has raised questions about its plans and other holdings, as investors and analysts are doubting its investment plans in other firms, including the ECOMMERCE company Pinn duo duo, the food delivery company Meton and many other of ten cents investment. Lastly, aws, actually not lastly, but still the next story rather, aws, or Amazon web services, experiences their third outage this month. So Amazon's cloud services, AWS, they've experienced another outage affecting major APPS and services like slack, epic, Games, in Juror, amongst others. The issues started around thirty am eastern time, when many users were logging on...

...for the day. Within minutes, aws started to investigate connectivity issues and updated the status on its dashboard that showed that the company had detected a massive power outage and nine hundred and thirteen eastern time, the company set and hit restored power to the affected servers. By two and twenty eight eight eastern time, it had restored underlyinge in connectivity to the majority of the remaining systems. Over, Amazon said that users may still be experiencing issues as servers were starting to be relaunched. This is the third time this month that issues with aws have had a significant impact on major online services. Earlier this month, the incidents involving aws ended up impacting a wide range of platforms and products like Netflix, Disney plus wise, amongst others. Whether there's a core issue that's causing the sudden increase in aws downtime or the companies just had a string of bad luck remains to be seen. And lastly, in Startup News, the European text startup deal room raises six million dollars in a series a. So deal room is based out of the Netherlands. It's obviously a startup tech company. The...

...very six million dollars in a series a and six million euroxcuse me for their funding round for its data and intelligence platform on startups and tach ecosystems. The funding was led by transatlantic venture capital firm Buringia and also saw participation from existing investors night venture capital and show investments. Founded in two thousand and thirteen by R M Wing Guard, deal room helps professional investors, corporates and local governments to discover track Innovative Tech Company. By offering data transparency as well as an intelligence layer over that data. The company looks to accelerate entrepreneurship and innovasion for governments, corporates, VC's and founders. Deal rooms business makes money in a few ways, including providing an AP for both government and business clients, as well as selling access to its platform on a SASS basis. The company has experienced growth in the recent years. It will use the newly invested funds to celebrate a global rollout, invest in more data and work towards creating a single...

...source of truth for Tech Ecosystems. And in other news from around the Internet opera partners with polygone to boost web three integrations. So the Internet Browser Opera has announced that it will integrate and etherium scaling platform polygone. That will allow users in browser access to hundreds of decentralized APPs or DAPS living on the polygon network. The integration will first open polygone's ecosystem. The operas over eighty million users on the ANDROID MOBILE APP and is scheduled to go live in the first quarter of two thousand and twenty two, and I'll salvad or buys more bitcoin. So if Salvador just bought twenty one more bitcoins to celebrate the twenty one day, and I'll explain what that means in a sect. But Twenty one day of two thousand and twenty one. So El Salvador, obviously the country that which is made bitcoin legal tender, has bought twenty one more bitcoins to celebrate the last twenty one day of the year twenty one of the twenty one century. President I Bou Kelly set in a twitter post. El Salvador has so far to date purchased one thousand, three hundred and ninety one bitcoins all...

...together. anyways, that's it for today. I hope you enjoyed if you found value in this, share this with one other person. They can go subscribe for daily business, Tech and Finance News and newsletter dot Roy overloadcom. Have a great day. I'll see it.

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