Chicago and Singapore are two cities that have become synonymous with Bitcoin. The Windy City is home to CME and DRW, the two companies are major financial that capitalize on the rise of Bitcoin. Therefore, the intention of DRW to open a window for trading Bitcoin in Singapore is a logical path forward and will allow DRW to accelerate its operations in Asia and to attract large customers.
A circular premature
The head of the monetary Authority of Singapore has recently announced that the city state had no intention of regulating crypto-currencies, but welcomed the growth of demand for Bitcoin. To implement its new commercial basis to asia, Singapore was a natural choice for DRW. The commercial company based in Chicago is not a new arrival on the market of Bitcoin, because it is present in the industry since 2014 when its subsidiary Cumberland Mining has started its activities in trading Bitcoin. DRW has already proved its worth in terms of Bitcoin, winning 27 000 Bitcoins of Ross Ulbricht for only $ 7.6 million in 2015.
The chinese government leaves the door open to the mining of Bitcoin
The main customers of DRW are the whales of Bitcoin, these investors are capable of losing millions of dollars on a single transaction. Then, the transactions of 1 million to 5 million are the norm for DRW, the firm has also managed significant transactions between 20 and 50 million dollars. The other important element that has motivated the choice of DRW it is the state of the chinese market. In fact, since the chinese government has decided to prohibit formally the trade of crypto-currencies, investors have been forced to turn to foreign countries, and Japan and Singapore are the first beneficiaries of this flight of investors.
Source : News.Bitcoin