SINGAPORE: Singapore-headquartered cryptocurrency platform Crypto.com, which earlier this year obtained in-principle approval from the country’s central bank to provide digital payment token services, has appointed a former top government employee to lead its office here.
Mr Chin Tah Ang was announced as general manager of Crypto.com’s Singapore office in a press release on Thursday (Aug 18).
He most recently headed Digital Industry Singapore, a joint office between three Government agencies – the Economic Development Board (EDB), Enterprise Singapore and Infocomm Media Development Authority.
DISG’s aim was to build a technology ecosystem in Singapore by anchoring global leaders, building local champions and nurturing future talent here.
Mr Ang also previously served in a variety of roles with EDB, advancing strategy and policy engagement for the board in various international markets.
He “brings a wealth of strategic business development experience in the technology sector and a deep understanding of the Singapore market landscape”, said Crypto.com in a statement.
Crypto.com co-founder and chief executive Kris Marszalek said Mr Ang’s “proven leadership and expertise” would continue to guide the firm in “a critical market” for the future of its business and industry.
Mr Ang said Crypto.com, which has 50 million customers globally, would “continue to collaborate closely with our public and private sector partners to address critical issues, promote responsible digital asset innovation, and ensure the sustainable growth of Web3 in Singapore”.
Web3 refers to a potential next phase of the Internet – a decentralised one run on digital record-keeping technology blockchain, which also drives the platforms running cryptocurrencies.
In June, Crypto.com was one of three cryptocurrency firms awarded in-principle approvals by the Monetary Authority of Singapore for a payment license.
It also announced in March an exclusive sponsorship deal for the football World Cup in Qatar later this year – the latest sporting investment for a company which has also inked agreements with Formula 1 car racing and leading mixed martial arts promotions among others.
Last year Crypto.com, which was founded in 2016, also acquired naming rights to the Staples Centre – home of the American basketball franchise Los Angeles Lakers – in a 20-year deal reportedly worth more than US$700 million (S$967 million).