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.
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.
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