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Why did Singaporean investment company Temasek Holdings join the Libra Association?



On May 14, the Libra Association announced that Singaporean international investment firm Temasek Holdings is one of the latest members to join its proposed cryptocurrency project. In addition, investment institutions Paradigm and Slow Ventures have also become new members of the Libra Association. Temasek is one of the project's most prominent backers after payments giants Mastercard, Visa and PayPal earlier dropped the plan.

Temasek was established under the Singapore Companies Act in 1974 to own and commercially manage investments and assets previously held by the Singapore government. This allows the Ministry of Finance to focus on its central role of decision-making and regulation, while Temasek holds and manages these investments on commercial principles. Temasek's sole shareholder is the Singapore government's Ministry of Finance. It is considered one of the most mysterious companies in Singapore because it has never published financial statements since its establishment until September 2004. The company's holdings include Singapore Telecommunications, Singapore Airlines, DBS Bank, Singapore Metro, Singapore International Port Group, Singapore Power, Keppel Group and Raffles Hotels, and almost all of Singapore's most important and largest enterprises.

Warner Bros. will launch the "Game of Thrones" series NFT: On November 3, Warner Bros. announced that it will launch the HBO series "Game of Thrones" series NFT this winter and cooperate with Nifty's platform. It is reported that the NFT series may be listed before 2023 and will be called "Game of Thrones: Build Your Kingdom."

The NFT will allow holders to create Realm Avatars (related to the series) and have access to additional items in the series to complete their avatars. NFT holders are eligible to obtain virtual weapons for their avatars, accumulate teammates, and optimize their positions and roles, which will allow holders to build their own kingdoms.

At present, Warner Bros. has not revealed details about the pricing of the series. [2022/11/3 12:12:45]

In addition to investing in the local market of Singapore, Temasek Holdings also invests in Asian markets and developed countries. At present, the net value of its investment portfolio is about S$313 billion (as of March 31, 2019), of which 26% are invested in Singapore and 26% are invested in China. , North America and Europe accounted for 15% and 10% respectively. Major investments include Malaysia Telecom, India's ICICI Bank, and Australia's second largest telecommunications company Optus. The company invested in China's banking industry and real estate industry in early 2000, and began to invest in the Internet field around 2010. Its investment companies include Industrial and Commercial Bank of China, Alibaba, Didi Chuxing and SenseTime.

The market value of USDC fell to around US$46 billion, a new low since January: Jinse Finance reported that according to the data source CoinGecko, the market value of the stablecoin USDC fell by US$10 billion to US$46 billion in three months, a record low since January the lowest level. Since the beginning of July, BUSD’s market capitalization has increased by 21% to $21.66 billion, and USDT’s market capitalization has increased by 3% to $68.3 billion.

According to industry experts, several factors such as USDT’s stability, the U.S. Treasury Department’s sanctions against Tornado Cash, and Binance’s recent decision to consolidate order books are responsible for USDC’s declining market capitalization.

Wes Hansen, director of trading and operations at Arca, said that investors concerned with U.S. regulators prefer USDT to USDC and may return to USDT. [2022/10/11 10:30:11]

Xie Songhui, deputy chief executive of Temasek International, said in the group announcement that Temasek is working with government agencies and other companies to promote the application of blockchain technology. "Blockchain technology can play a transformative role in payments networks by improving cost efficiencies, creating new business opportunities and accelerating financial inclusion."

The total locked position of Ethereum Layer 2 is $4.29 billion, an increase of 16.96% on the 7th: Golden Finance News, according to L2BEAT data, the current total locked position of Ethereum Layer 2 has risen to $4.29 billion, an increase of 16.96% on the 7th. Among them, the top five locked positions are Arbitrum ($2.3 billion, up 18.57% on the 7th), Optimism ($840 million, up 20.96% on the 7th), dYdX ($559 million, up 5.05% on the 7th), Loopring ( $194 million, an increase of 15.47% on the 7th), Metis Andromeda ($119 million, an increase of 27.48% on the 7th). [2022/7/22 2:30:26]

“Our membership in the Libra Association will help create a cost-effective global regulatory network for retail payments,” he said.

Singapore adopts a neutral mechanism for the supervision of blockchain and digital currency, and adopts an inclusive attitude towards innovation without affecting financial stability. Initially, the reserve mechanism of the first version of Libra’s white paper did not include the Singapore dollar, but later Facebook’s letter to the U.S. senator mentioned the inclusion of the Singapore dollar in the reserve. The second edition of the white paper updated on April 16 also indicated that LibraSGD, which is anchored to a single Singaporean legal currency, will be issued.

"The addition of three new members to the Libra Association demonstrates our commitment to building a diverse organizational team well-positioned for the governance, technology roadmap and launch of the Libra payment system," said Dante Disparte, Libra Association Vice President and Head of Policy and Communications. Prepare.". "We are honored to welcome Temasek, Paradigm and Slow Ventures to this effort. These organizations all share our overall mission, bring unique capabilities, and have a long-term focus on the market development of blockchain and digital assets."

Paradigm is headquartered in San Francisco and focuses on investing in cryptocurrency companies, while Slow Ventures focuses on core companies in the technology industry and start-ups on the edge of science, society and culture, investing in Slack, Postmates and Airtable, etc.


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