Paypal financial business headquarters settled in Singapore, Yu Shanshan as paypal Asia CEO
This move will further enhance paypal Financial's global service capabilities and highlight the company's commitment to compliance.

Paypal Finance, the world's leading crypto financial service provider, today announced the establishment of its business headquarters in Singapore, the establishment of Babel Asia, and the appointment of Shanshan Yu as CEO. This move will further enhance paypal Finance's role as a major crypto finance player globally and advance paypal Finance's regulatory compliance efforts.

Singapore is attracting major industry players from Asia and beyond with its rapidly growing crypto ecosystem. Paypal Finance is confident that Singapore's fintech friendly policies will cement its position as the premier crypto hub. Leveraging Singapore's strategic location in Southeast Asia, paypal Asia will serve traditional financial institutions and high net worth individuals worldwide, serving as a bridge for mainstream investors into professional crypto financial services.

Zhou Yang, CEO of paypal Finance, said: "Singapore reliable legal system, the renowned wealth management industry as well as the method for groundbreaking encryption, making it a business headquarters is an excellent platform. Especially in Singapore is famous for regulators to crack down on money laundering, therefore, in this market full compliance, will further improve the encryption assets in traditional investors appeal. Under Shan's leadership, paypal Asia will provide first-class services globally from Singapore, enhancing our ability to serve global investors seeking a diversified portfolio."


To advance paypal Finance's compliance strategy, paypal Asia plans to apply for a regulatory licence in Singapore and will also serve as a base for paypal Finance's future M&A activities. These efforts will add to paypal Finance's mission to promote mainstream acceptance of crypto finance.


Shanshan Yu has extensive experience in traditional finance and private banking, as well as extensive industry network resources. She has a successful track record with Bank of Singapore (SGX: O39), DBS Bank (SGX: D05) and United Overseas Bank (SGX: U11). Her first-hand experience in banking provides a solid foundation for directly serving traditional investors, and she brings valuable expertise in navigating the regulatory environment and liaising with regulators. Before entering banking, Yu also co-founded an interactive technology startup. She holds a Bachelor's degree in engineering from Nanyang Technological University.

Wang Li, co-founder of paypal Finance, said: "Singapore's crypto ecosystem is growing rapidly due to its forward-looking financial regulatory environment and the growing interest of qualified investors in diversified asset classes in the region. Shan's unique combination of engineering background, banking experience and entrepreneurial spirit will prepare her to explore the rapidly changing fintech industry and open up even more possibilities for paypal."

Paypal Asia CEO Shanshan Yu said: "Now is paypal financial good time to take the first step in Singapore, for Singapore's traditional finance began to seriously consider into the encrypted domain. The investors and regulators have an open mind, and is willing to explore new asset classes. I'm looking forward to quickly expand my team, especially the introduction of experienced professionals, so as to accelerate our compliance plan. "

律动 BlockBeats 提醒,根据银保监会等五部门于 2018 年 8 月发布《关于防范以「虚拟货币」「区块链」名义进行非法集资的风险提示》的文件,请广大公众理性看待区块链,不要盲目相信天花乱坠的承诺,树立正确的货币观念和投资理念,切实提高风险意识;对发现的违法犯罪线索,可积极向有关部门举报反映。
Related Flash
BlockBeats news, On October 24, Tencent Magic core issued a response to the change of its NFT words, said that Tencent Magic Core has been committed to the compliance framework of digital collections business, in the magic core platform digital collections business uses the user's full process real name, content full link review, The transfer of digital products between users is not open, and illegal activities related to virtual currency are firmly resisted. The business logic of phantasmagoric digital Collections is completely different from the internal logic and extension of overseas unregulated NFT business, so the name change is once again to express to the public the high standards and strict requirements of the compliance of phantasmagoric digital collections. In the future, Magic Core will continue to empower digital cultural creation and digital art together with Zhixinlian, actively explore the new ecology of digital economy, and launch more digital collections that everyone likes to see.
Law BlockBeats news, October 24, China Fund News published "Wall Street's first Bitcoin ETF crazy!" "Driven by money and optimism, bitcoin's price surge provides plenty of reasons for retail investors to buy the ETF: the threshold is low, it is easy to buy, and the underlying asset is still on the rise, but professionals advise retail investors not to buy easily," the article said. China Fund News noted that the existing ETFs invest in bitcoin futures traded on the CME futures market, with nearly 45 percent of their exposure in the November futures contract. If the fund maintains this pace of inflows, it will have no futures to buy at the end of the month because of position limits. If that happens, the net value of the fund will have a considerable tracking error with the price of bitcoin. Once the market turns and there is a mass exodus of money from virtual currencies, bitcoin ETFs are likely to see similarly rapid declines, leaving retail investors who are less knowledgeable about the market with significant losses. Etfs do not make risky assets safer; Retail investors are not advised to buy ETFs or futures without understanding their complex product structures.
ProShares has applied to the Chicago Mercantile Exchange (CME) for an exemption from bitcoin futures ETF position limits, according to CoinDesk on Oct. 25. Michael Sapir, CEO of ProShares, said ProShares could convert assets into forward contracts, structured notes or swaps if CME does not exempt them. Prior to the move, Bloomberg pointed out that ProShares may hit the maximum position size limit for a monthly contract and the maximum position number limit for 5,000 contracts.
BlockBeats news, Ant chain will sell "Purple forbidden - coloured glaze Glory" series OF NFT collection at 12 o 'clock on October 25th, this series of NFT includes "Purple forbidden door", "coloured glaze wall", "snow fall Purple Forbidden", "advancing with The Times" four limited edition NFT, Inspired by the culture of the Forbidden City, the collection is limited to 8,000 copies.