Temasek of Singapore claims it does not hold Bitcoin but is preparing for tokenization


However, Temasek, one of the world’s leading sovereign wealth funds, has declared that it does not own Bitcoin at this time, but it is actively involved in blockchain projects and evaluating new opportunities within the sector.

In an interview with Forkast’s Editor-in-Chief Angie Lau, Temasek’s managing director for blockchain financing, Pradyumna Agrawal, declared that “for now, Temasek does not own Bitcoin.”

During an interview on May 13 in Singapore, Agrawal said, “However, it isn’t a public release about whether or not we like Bitcoin or whether or not we need to own Bitcoin or not.” “That’s just a statement of fact about what’s true.”

Temasek, which maintains a portfolio of S$381 billion (US$274 billion) for Singapore, was reported to be buying Bitcoin in the media last year. “Misinformation which we’ve decided not to touch upon” was Agrawal’s remark.

Temasek, on the other hand, is “quite focused on finding the very best ideas,” according to Agrawal, and lets its wallets do the talking in the company.

In February, it led a US$200 million investment round in Amber Group, a cryptocurrency agency. Temasek led a $200 million fundraising round for Immutable, an Australian business developing non-fungible tokens (NFTs).

Forkast’s Editor-in-Chief Angie Lau interviewed Agrawal (proper) for a forthcoming edition of Phrase on the Block.

The mission of Temasek, according to Agrawal, is flexible when it comes to blockchain companies who want to raise capital via tokenization.

In his statement, he said, “We will seek or get attention to regions that we believe are of interest to us and can provide appropriate risk-adjusted returns.”

According to Agrawal, “having the power to personalise tokens” is part of the company’s mission. However, “you want a completely entirely different set of infrastructure” when Temasek has to be able to manage and operate directly on tokens.

Is there any way of asserting that Temasek is about to deal with the tokenized property? “I may suggest it can take a long to make sure that it fulfils our operating threat criteria and that we would accomplish it at scale,” he said.

It’s not only Temasek in Singapore that sees potential in blockchain technology. Chainalysis, a New York-based company that does blockchain knowledge assessments, received $170 million in Series F funding from GIC, another major Singaporean sovereign wealth fund, this past Thursday. Additionally, GIC has invested in Coinbase and BC Group, a Hong Kong-based digital asset firm.

Also Read: After forming a triple bottom, the Bitcoin Dominance Rate (BTCD) surges sharply

Leave A Reply

Your email address will not be published.