Singapore’s Temasek says doesn’t own Bitcoin, but prepping for tokenized assets

Bydiana

May 17, 2022 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Singapore’s Temasek Holdings, a person of the world’s top rated 10 sovereign prosperity money, reported it doesn’t at this time very own Bitcoin, but it is lively in blockchain investments and seeking at rising chances in the business.

Temasek doesn’t remark on direct investing pursuits but as of “today, Temasek does not personal Bitcoin,” explained Pradyumna Agrawal, the fund’s controlling director for blockchain investment decision, in an job interview with Forkast’s Editor-in-Main Angie Lau.

“But that is not a assertion on regardless of whether we like Bitcoin or no matter whether we want to individual Bitcoin or not,” Agrawal mentioned in the May possibly 13 job interview in Singapore. “That is just a factual statement of actuality.”

His remarks follow media studies last calendar year that explained Temasek, which manages a portfolio worth about S$381 billion (US$274 billion) for the city-condition, was acquiring Bitcoin.

The reports at the time were “misinformation which we have decided on not to comment on,” Agrawal explained. 

Nevertheless, elsewhere Temasek is letting its wallet do the talking in the marketplace, and is “very concentrated on backing the finest projects,” Agrawal stated. 

In February, it led a US$200 million funding round in cryptocurrency company Amber Group. Also, Australian non-fungible tokens (NFTs) startup Immutable in March raised $200 million in a Collection C funding led by Temasek.

Agrawal (right) sat down with Forkast’s Editor-in-Main Angie Lau for an upcoming episode of Word on the Block.

Temasek has a adaptable mandate towards blockchain firms that want increasing funds through tokenization, Agrawal claimed. 

“We can get exposure or look for to attain publicity to places which we imagine are of desire to us and will produce correct risk-altered returns,” he stated.

“It’s in just our mandate to be ready to have tokens,” Agrawal included. But if Temasek wishes to be in a position to instantly keep and act on tokens, “you want a completely various set of infrastructure.”

One more way of saying Temasek is receiving prepared to handle tokenized property? 

“I would say it will have to have some time to assure that it satisfies our functioning risk requirements and that we can do it at scale,” he reported.

In Singapore, it’s not just Temasek that sees chances in blockchain technological know-how. 

GIC, a further major Singaporean sovereign prosperity fund, on Thursday led a $170 million Collection F funding round in New York-centered blockchain details investigation firm Chainalysis. 

GIC has also invested in crypto exchange Coinbase and Hong Kong’s digital asset corporation BC Team.

See related post: Singapore wants to provide some adult supervision to crypto

By diana