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Singapore-based blockchain technology solutions provider ChainUp has bought shares in Lion City-based Bedrock Trust. The total amount of the transaction was not announced.
Bedrock Trust is a licensed fund management corporation regulated by the Monetary Authority of Singapore. The firm promotes asset management services for retail and institutional investors. Upon completion of the transaction, the organization will expand its product line to include access to cryptocurrencies. It is noteworthy that earlier in 2022, Bedrock Trust and ChainUp entered into a strategic partnership contract.
Sailor June, Executive Director of ChainUp Group, noted that the new acquisition will expand the range of services provided to the company’s applicants. The expert also emphasized that his organization fully complies with all the legislative requirements of Singapore and is aimed at actively promoting blockchain ecosystems.
In turn, the head of Bedrock, Chu Shu Hui, emphasized that interaction with a large blockchain provider will provide an opportunity to use the many years of experience of the ChainUp Group and comprehensively explore new opportunities in the digital finance segment, as there is a growing interest of clients in this industry.
Earlier, the editors of Crypto.ru informed: the flagship of the crypto market continues to steadily strengthen against the British pound. Messari Corporation cited statistics according to which on September 26, 2022, trading volumes for the BTC/GBP pair reached a historical extreme at $881 million. It is noteworthy that this is 1100% higher compared to the average values. Such dynamics was provoked by the global drawdown of the pound, in which investors from England are increasingly transferring assets to bitcoin for diversification.
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