Temasek Holdings: Bitcoin is under testing

Monday 30 June 2014 13:33 CET | News

Temasek Holdings, a triple-A rated investment company owned by the government of Singapore, has been testing Bitcoin, according to a report in the Singaporean newspaper, Today Online, cited by

The announcement has been made by the chairman of the company, Lim Boon Heng, in a speech cited by the same source. The experiment has involved everyone getting their own Bitcoin wallet and practicing by using it to donate to charity, Lim adds.

Temasek Holdings has a USD 172 billion portfolio and had a net income of USD 12.1 billion in 2013. According to a press release cited by the source, the firm has recently launched its first office in New York.

As a government-owned investment firm, Temasek Holdings invests in areas like telecommunications and technology, industrials and life sciences. Its total portfolio covers almost the entire economic spectrum.

Temasek is often referred to as a ‘sovereign wealth fund’, but is never referred to as such by its government owner, despite being listed in Singapore’s constitution. Described on its website simply as “an investment company based in Singapore”, the 40-year-old company behaves more like a private firm, paying taxes and distributing dividends.

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Keywords: Singapore, government, Temasek, Bitcoin, investment, digital currency, crypto-currency, testing, e-wallet
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce