In a space where credibility seems to be at a premium, Singapore’s first listed blockchain company OIO Holdings aims to be a “bastion of light to help users find a path amidst this complicated ecosystem”, claims executive director Yusaku Mishima in an interview with The Edge Singapore.
The cryptocurrency world was rocked by the sudden collapse of two of the biggest digital coins TerraUSD (also known as UST) and Luna in early May. Volatility is not uncommon in the cryptocurrency market, but what is unique was that UST was a so-called “stablecoin” — which means that one token equals US$1 ($1.37).
The collapse was akin to the dollar plummeting to the value of one cent overnight. More than US$200 billion in market value was wiped off all cryptocurrencies, as crypto proponents struggle to find a reason to continue investing.
