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JPMorgan, DBS, Temasek bet big on Asia's blockchain race

Investors and Singapore regulator join efforts despite crypto headwinds

The Monetary Authority of Singapore has been dabbling with blockchain technology on several fronts, including with JPMorgan, DBS and Marketnode. (Source photos by AP) 

SINGAPORE -- Big banks and investors in Singapore are betting large on blockchain technology as a gateway to send money and trade assets more efficiently around the clock, even as the volatile cryptocurrency industry comes under intense scrutiny from regulators.

Some of the world's largest financial institutions, like JPMorgan Chase, Singapore's DBS Bank and Temasek Holdings, have joined forces with regulators in the Asian finance hub to develop a safer and more efficient way for businesses and investors to make deals.

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