A group of digital asset industry leaders have launched the Digital Assets Association (DAA) in Singapore.
The non-profit organization aims to bridge the gap between traditional finance and the potential of tokenized real-world assets (RWA) by bringing together financial institutions, fintechs, technology providers, and legal and regulatory experts.
Its committee comprises early-stage innovative companies, financial players, and service providers including:
Henry Zhang, Founder & CEO of DigiFTChia Hock Lai, CEO of OnfetDanny Chong, CEO of TranchessDaniel Lee, Head of Web3, Banking CircleSteven Hu, Head of Digital Assets, Trade & Working Capital, Standard CharteredChang Tze Ching, CEO of Bright Point International Digital Assets.Digital Assets Association Exco. (From left to right) Chia Hock Lai, CEO, Onfet; Danny Chong, CEO, Tranchess; Daniel Lee, Head of Web3, Banking Circle; Tze Ching Chang, CEO, Bright Point International Digital Assets; Henry Zhang, Founder & CEO, DigiFT; and Dr Steven Hu, Head of Digital Assets, Trade & Working Capital, Standard CharteredDAA's inception was spearheaded by the leaders of DigiFT, Onfet, and Tranchess. DigiFT is a regulated on-chain exchange for RWA. Onfet is a blockchain-based tech firm focusing on operational efficiencies. Tranchess is a tokenized asset management and derivatives tracking protocol.
Singapore’s DigiFT Wins MAS Regulatory Approval
DigiFT has graduated from the MAS FinTech Regulatory Sandbox to becoming a Capital Markets Services licence holder and a Recognised Market Operator
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It aims to share knowledge and best practices, develop industry standards, advocate for responsible adoption and empower future leaders.
Tokenization is expected to grow by a factor of 80x in private markets, reaching up to almost US$4 trillion in value by 2030, according to Citi.
A new report by Seedly and Coinbase has revealed that more than 1 in 2 Singaporeans own cryptocurrency.
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Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.
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Last updated:
February 15, 2024
Source: Midjourney Tranchess,
a decentralized protocol specializing in risk-adjusted yield solutions for digital assets, announced the launch of two new staking products . These products, dubbed “staYETH” and “turYETH,” aim to provide investors with diversified options for earning yield on their staked Ether (ETH).
Stable and Leveraged Options:
staYETH: Inspired by traditional “risk-free” investments, staYETH offers a steady, predictable return on staked ETH. This aims to attract investors seeking lower volatility and familiarity with conventional financial instruments.
turYETH: Designed for those seeking aggressive growth, turYETH utilizes leverage on yield differentials to potentially amplify returns when staking rewards increase. This caters to investors with higher risk tolerance.
Growing Interest in Liquid Staking The launch comes amidst growing interest in liquid staking, a DeFi segment that has shown resilience even during market downturns.
Tranchess highlights the rising institutional demand for sophisticated DeFi products and positions staYETH and turYETH as catering to both new and existing users seeking refined solutions.
The collaboration between Tranchess and Lido, one of the largest liquid staking services in DeFi, reflects a shared vision of democratizing access to staking for various investor types. Danny Chong, co-founder of Tranchess, said in a statement shared with Cryptonews,
DeFi has seen significant growth in the user base of Liquid Stakers, signaling market maturation despite the bear market. Notably, we’re witnessing a surge in institutional interest, a clear indicator that the market is evolving beyond its early stages.
Both parties anticipate the next DeFi wave to be driven by innovative and accessible products like staYETH and turYETH.
With the approval of the Spot Bitcoin ETF and the possible future of a Spot Ethereum ETF, an increased need for liquid staking solutions is expected.
Tranchess is an asset tracker that enhances returns through various risk-return solutions. Tranchess provides a different risk/return matrix from a single master fund that tracks a specific underlying asset. The name Tranchess is inspired by the game of chess and the French word “Tranche,” commonly associated with tranche funds that cater to investors with different risk appetites. Tranchess was launched on June 24, 2021.
According to the explanations, the Tranchess platform offers its users the following opportunities:
Enhanced yield returns without permanent lossesLeveraged positions at low cost and without forced liquidationZero Lock-up Period for QUEEN holdersPreventing Oracle Attacks using TWAP (Time Weighted Average Price)The project benefits from smart contracts that make processes transparent and automatic. The protocol allows users to earn more by tracking BTC, lending their tokens, or leveraging without forced liquidation. Users also receive a share of platform earnings as part of their staking yields. The Tranchess ecosystem provides gains from both NAV and yield perspectives.
The platform’s smart contracts do not rely on price feeds from other smart contracts, making them highly resistant to price manipulations such as flash loan attacks. The Tranchess price oracle uses a 30-minute TWAP instead of discrete oracle prices, minimizing the chance of oracle manipulation attacks. The Tranchess Oracle extends the Open Oracle standard by Compound, accepting signed price data from two sources (Coinbase and OKEX) and calculates the time-weighted average price (TWAP) for every 30-minute period.
On the other hand, the Tranchess Protocol is the brainchild of Co-founder Danny Chong and Team. The concept was initiated in 2020 with a team from diverse experiences and roles at technology companies like Google, Facebook, Microsoft, and investment banks such as Morgan Stanley, UBS, and BNP Paribas.
The technology team is particularly experienced in cybersecurity concerning investment and DeFi protocols; their knowledge in smart contract coding will contribute to maintenance and upgrades in the coming years.
How to Buy Tranchess Coin?CHESS Coin can be purchased quickly and securely through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy CHESS Coin, one must first sign up for Binance and then send fiat currency. After sending a fiat currency such as the dollars, the purchase of CHESS Coin can be made in the CHESS trading pairs with Binance Coin (BNB), Tether (USDT), BUSD, and Bitcoin (BTC).
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Tanzeel Akhtar has been reporting on cryptocurrency and blockchain technology since 2015. Her work has appeared in leading publications including The Wall Street Journal, Bloomberg, CoinDesk, Bitcoin...
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Last updated:
April 17, 2024
Tranchess, a decentralized protocol specializing in risk-adjusted yield solutions for digital assets, has collaborated with StakeStone, and Scroll to launch a new yield product, Queen Stone (stoneQUEEN).
In an announcement, Tranchess, Scroll, and StakeStone said they are addressing the recent surge in demand for DeFi products and services by offering users the opportunity to explore multiple DeFi protocols.
Queen Stone will use Scroll’s zero knowledge (ZK) technology. Tranchess will provide its expertise in yield optimisation and risk management combined with StakeStone’s staking solutions offering additional avenues for yield generation
“This integration introduces a complex, layered approach to yield optimisation, providing users with multiple sources of yield through native staking rewards, Stone points, Scroll marks, and Tranchess airdrops, along with additional earnings from LP pools,” said says Danny Chong, CEO and Co-Founder of Tranchess in a press release.
“As such, Tranchess StakeStone Fund deployed on Scroll empowers investors to explore multiple yield sources across DeFi protocols, enabling them to access diverse yield generation avenues,” adds Chong.
Dencun Upgrade Sees Surge in Demand for DeFi Products According to Tranchess a month into the Dencun upgrade, the DeFi community has been watching to see how prominent L2s will deliver cheaper transactions. There has been a surge in demand for DeFi products. DeFi’s TVL surged to a record-breaking high of plus $86 billion. This indicates a growing need to make DeFi more accessible to a broader audience.
Ethereum’s much-anticipated Dencun upgrade was scheduled for a mainnet launch on March 13, following successful testnet launches in February. The upgrade marked a significant milestone in Ethereum’s evolution and had an impact on the wider market.
In January, Tranchess, announced the launch of two new staking products. The products, dubbed “staYETH” and “turYETH,” aim to provide investors with diversified options for earning yield on their staked Ether (ETH).
Back then Tranchess said there is rising institutional demand for sophisticated DeFi products and positioned staYETH and turYETH as catering to both new and existing users seeking refined solutions.
Tranchess (CHESS), a tokenized asset management and derivatives trading protocol, has recently secured a landmark feat. The crypto project garnered noteworthy optimism today as the world’s leading crypto exchange, Binance, announced futures listing for its native token. This announcement promptly gained traction across the broader crypto industry as CHESS price rocketed nearly 41% in tandem with the announcement.
Crypto market participants appear to be speculating over the asset’s future price trajectory.
Binance Launches USD-Margined Perpetual Contract For Tranchess (CHESS) According to an official Binance announcement dated August 29, the futures trading arm of the firm launched the CHESS/USDT perpetual contract today at 07:30 UTC. The platform’s colossal user base remains free to enjoy up to 75x leverage trading the asset.
This mover by the leading crypto exchange comes as an effort to enhance user offerings. Meanwhile, the underlying asset remains Tranchess. Further, the exchange set the capped funding rate at +2.00% / -2.00%.
However, the official announcement also revealed that the exchange may revamp the futures listing contract periodically, including changes in funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements. Nevertheless, the listing saga appears to have fueled phenomenal gains in CHESS price.
Additionally, another renowned crypto exchange, BingX, announced that CHESS perpetual and standard futures were now live on the platform. This listing adds to market optimism for the token.
Token Price Soars 41% With Futures Listings As of writing, CHESS price soared 41% to trade at $0.2193. The token’s intraday lows and highs were $0.1422 and $0.2237, respectively.
Today’s rising price action primarily aligns with the abovementioned futures listing announcements. As seen previously, even VIDT price skyrocketed nearly 59% with Binance’s futures listing approximately a week ago. At present, VIDT DAO’s weekly gains total a staggering 137%, solidifying optimism on CHESS price action ahead.
In addition, tokens POPCAT & SUN prices also rallied remarkably recently with the CEX’s futures listing. However, market stats add a tint of uncertainty on the asset’s future price movements.
Although technicals hinted at a strong buying sentiment for Tranchess, the RSI raised strong concerns. At press time, the token’s RSI hovered into an overbought territory, resting at 78. This indicates a potential price rebound may also be imminent.
Crypto market enthusiasts continue to extensively eye the crypto for future price action shifts. It’s worth noting that Coinglass data spotlighted futures open interest for the asset at $2.58 million. Moreover, the derivatives volume stood at $15.68 million after the listing announcement.
Tranchess (CHESS) is an asset monitor that enhances yield through various risk/return services. Tranchess provides a single main fund tracking a specific underlying asset, offering a different risk/return matrix. The name “Tranchess” is inspired by the game of chess and the French term “Tranche,” which is commonly associated with tranche funds targeting investors with different risk appetites.
Tranchess was launched on June 24, 2021. The main fund, also known as the Queen token, tracks a specific underlying asset and can be split equally into two sub-funds. In addition, most popular DeFi features like single-asset farming, borrowing/lending, and trading are available on the platform.
The Tranchess project utilizes transparent and automated smart contracts that operate between processes. The protocol enables users to earn more by tracking cryptocurrencies, lending their tokens, or taking advantage of leverage without mandatory liquidation. Users share in platform earnings as part of their returns. The Tranchess ecosystem provides returns from both NAV and yield perspectives.
Where to Buy CHESS Coin?Tranchess Coin can be safely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. CHESS Coin is traded on Binance under the pairs CHESS/BTC, CHESS/BNB, CHESS/USDT, and CHESS/BUSD.
To buy Tranchess Coin, you must first become a member of the Binance exchange. Once the membership is complete, you need to transfer cryptocurrency or fiat currency to the Binance wallet. After completing the transfer, you can buy CHESS Coin from any of the four pairs mentioned above. To purchase via the CHESS/USDT trading pair, go to the interface of this pair. In the limit section of the CHESS/USDT interface, enter the desired purchase amount. After specifying the amount, complete the purchase by placing a CHESS Buy order.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
PANews reported on December 5th that Binance will suspend deposits and withdrawals for the following "designated networks" tokens at 16:00 (UTC+8) on December 12th, 2025 : Tranchess (CHESS, Ethereum Network), dForce (DF, BNB Smart Chain), and Aavegotchi (GHST, Polygon Network). After the suspension, deposits made through these networks will no longer be credited to your account, potentially resulting in asset loss. Users can still deposit and withdraw these tokens through other networks supported by Binance.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
6 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
6 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
6 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
6 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
6 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
PANews reported on February 2nd that, according to an official announcement, Binance has decided to suspend trading and delist the following cryptocurrencies at 11:00 AM (UTC+8) on February 13th, 2026: Acala Token (ACA), Tranchess (CHESS), Streamr (DATA), dForce (DF), Aavegotchi (GHST), and NKN (NKN).
Binance stated that it will regularly review the digital assets listed to ensure a high standard of quality. When a token no longer meets listing standards or there are significant changes in the industry environment, a thorough project review will be conducted, and it may be delisted.
Binance announced that it has delisted the altcoins Acala Token (ACA), Tranchess (CHESS), Streamr (DATA), dForce (DF), Aavegotchi (GHST), and NKN (NKN).
02.02.2026 - 09:24
Update: 02.02.2026 - 09:24
Binance, the world’s largest cryptocurrency exchange, continues its altcoin delisting at full speed. After delisting many altcoins in January, Binance recently announced the delisting of six more altcoins.
Accordingly, Binance announced that it has delisted the altcoins Acala Token (ACA), Tranchess (CHESS), Streamr (DATA), dForce (DF), Aavegotchi (GHST), and NKN (NKN).
“At Binance, we conduct periodic reviews to ensure that every digital asset we list continues to meet high standards and industry requirements.”
….
Based on our latest assessments, we have decided to discontinue trading and delist the following token(s) in all spot trading pairs on 13.02.2026 at 03:00 (UTC):
ACA, CHESS, DATA, DF, GHST and NKN”
Following the delisting news, altcoin prices experienced significant drops.
“Spot trading pairs for these tokens will be discontinued.”
All trading orders will be automatically deleted after the transactions in the relevant trading pairs have ended.
Binance will discontinue its Trading Bot services for the aforementioned spot trading pairs on February 13, 2026 at 03:00 (UTC), where applicable.
Binance Spot Copy Trading will delist the aforementioned spot trading pairs on 06.02.2026 at 03:00 (UTC).
The value of the tokens in question will no longer be displayed in user accounts after delisting.
These tokens will not be credited to users’ accounts after 03:00 (UTC) on February 14, 2026.
Withdrawals of these tokens from Binance will no longer be supported after April 13, 2026, 03:00 (UTC). Delisted tokens can be converted to stablecoins on behalf of users after April 14, 2026, 03:00 (UTC).
*This is not investment advice.
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