Wintermute relocating 4% of staff to Singapore: Bloomberg

Quick Take

  • Wintermute is expanding its Asian footprint.
  • The market-making firm is relocating 4% of its staff to Singapore, according to Bloomberg News.

Count Wintermute as the latest cryptocurrency firm set to expand into the Asian market. 

In an interview with Bloomberg News, an executive at the market-making firm said that, over the course of the next few months, about 4% of the firm's staff will relocate to Singapore. Yoann Turpin, a co-founder of the UK-based firm, will be among the staff making the move over to the city-state.

The remarks come after Circle snagged a digital-token license in Singapore.

Elsewhere, Gemini has said it plans to hire more than 100 employees in Asia as part of its expansion in the region. Crypto firm FalconX also plans to expand into Asia, having also applied for Singapore's digital token license, Bloomberg reported. 

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Earlier this month, Singapore high courts recognized crypto as property capable of being held in a trust as property. In June, the Monetary Authority of Singapore released a white paper outlining industry standards for various types of digital assets. 

Founded in 2017, Wintermute provides liquidity across over 50 exchanges, including Coinbase and Kraken. It is also a leading venture investor in the market. 


© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

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