Tagged: mas

Singapore: Fintech Has Created 1/4 of New Financial Sector Jobs in Past Two Years

Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), delivered a speech today at the MAS Annual Report Media Conference. Within the prepared remarks, Menon revealed that “Fintech alone is estimated to have contributed close to 2,000 of the net jobs created during… Read More

The Monetary Authority of Singapore & Department of Economic Affairs in India Sign MOU on Fintech

The Monetary Authority of Singapore (MAS) and the Department of Economic Affairs in India have signed a Memorandum of Understanding (MOU) to further Fintech cooperation between the two countries. Singapore has an extended history in establishing bilateral relationships regarding its pursuit of Fintech growth.  The… Read More

KPMG and MAS Schedule Second Global Fintech Hackcelerator for the 2018 Singapore FinTech Festival, Accepting Applications Now

For the second year running, KPMG Digital Village and the Monetary Authority of Singapore (MAS) will be organizing the Global FinTech Hackcelerator for the 2018 Singapore FinTech Festival. According to KPMG, this year’s program will focus on 80 problem statements in the following 4 categories:… Read More

Singapore Warns Eight Cryptocurrency Exchanges, MAS Halts Single Initial Coin Offering

The Monetary Authority of Singapore (MAS) has issued a warning to eight cryptocurrency exchanges operating in Singapore. The notice told the exchanges NOT to facilitate trading in digital tokens nor future contracts without the explicitly authorization by MAS. The warning targeted security tokens and it… Read More

Singapore Seeks to Accelerate Utilization of Artificial Intelligence in the Financial Sector

The Monetary Authority of Singapore (MAS) has announced that it is working with a consortium of agencies to accelerate the utilization of artificial intelligence (AI) in the financial services sector. MAS has always sought to keep Singapore at the forefront of Fintech innovation and encouraging… Read More

Monetary Authority of Singapore Announces Third Edition of the Singapore Fintech Festival to Be Held November 2018

The Monetary Authority of Singapore (MAS) announced on Tuesday that the third edition of the Singapore Fin Festival will be held on November 12th through the 16th. The organization reported that this year’s festival will include two new “elements,” which are the following: ASEAN FinTech Showcase:… Read More

Singapore Partners with Vietnam as MAS Signs New Fintech Agreement

The Monetary Authority of Singapore (MAS) and the State Bank of Vietnam (SBV) have agreed to form a new partnership to encourage Fintech innovation while simultaneously strengthening cooperation in banking supervision. MAS has signed numerous bilateral Fintech agreements with many different jurisdictions. The strategy has… Read More

Monetary Authority of Singapore Works with Finance Industry on Ethical Use of Data and AI

The Monetary Authority of Singapore (MAS) has announced that it is working with key financial industry stakeholders to develop a guide to promote the responsible and ethical use of artificial intelligence (AI) and data analytics by financial institutions. The discussion on deep data and who… Read More

The Good, The Bad & The Ugly: Monetary Authority of Singapore Critiques Cryptocurrency Market

In a speech delivered at the Money20/20 Asia conference in Singapore, Ravi Menon, MD of the Monetary Authority of Singapore (MAS) delivered a speech assessing the state of cryptocurrencies and initial coin offerings (ICOs). Entitled, “Crypto Tokens: The Good, The Bad, and The Ugly,” Menon… Read More

Lithuania and Singapore to Cooperate on Fintech Innovation

The Monetary Authority of Singapore (MAS) and the Bank of Lithuania have agreed to collaborate and mutually support the development of the Fintech ecosystems and encourage financial innovation between the two countries. Today, MAS and the Bank signed a Fintech Co-operation Agreement during the Money… Read More

Monetary Authority of Singapore Signs MoU With Government of Maharashtra to Strengthen Cooperation in Promoting Fintech Innovation

On Monday, the Monetary Authority of Singapore (MAS) announced it signed a Memorandum of Understanding (MoU) with the Government of Maharashtra (GoM) to strengthen cooperation in promoting FinTech innovation in the two markets. The MoU was signed at a ceremony at the Magnetic Maharashtra event in India…. Read More

Singapore Fintech Texcent Receives Remittance License From Monetary Authority Singapore

Texcent Asia, a Singapore-based payments company, announced on Tuesday it has received remittance license from Monetary Authority Singapore (MAS). The company powers financial platform Paycent, which is described as a company that’s dedicated to delivering fully integrated mobile applications and aims to be the global leader in… Read More

Singapore and Egypt Work to Boost Fintech as Monetary Authority of Singapore and Central Bank of Egypt Sign Co-operation Agreement

The Monetary Authority of Singapore (MAS) and the Central Bank of Egypt (CBE) have announced a cooperation agreement to boost Fintech innovation between the two countries. MAS has initiated many of these bilateral agreements and is core to their strategy of being a global Fintech… Read More

Monetary Authority of Singapore Tells Financial Institutions to use Fintech to On-Board Customers

Financial technology of Fintech is the future. Physical branches are going away. Recently, at the Paris Fintech Forum, Jay Sidhu stated that if banks do not shrink their bank branches by 90% they will disappear. Think about that for a minute (especially if you work… Read More

Singapore MPs Ask Monetary Authority of Singapore if they Intend to Ban Bitcoin & Other Cryptocurrencies

The Monetary Authority of Singapore (MAS) was queried by several Members of Parliament this week who asked the regulatory agency if they intend on following in the footsteps of China and South Korea in banning Bitcoin and other Cryptocurrencies. Additionally, MPs asked how MAS is… Read More

Crowdfunding Platform FundTier Receives Capital Market Services License from the MAS

Singapore-based FundTier announced on Thursday it has received a Capital Market Services (CMS) license from the Monetary Authority of Singapore (MAS). Co-founder of the funding portal Max Ho revealed to the Business Times that with the new license it will be able to reach out… Read More

Monetary Authority of Singapore Launches Consultation on Payments Including Cryptocurrencies

The Monetary Authority of Singapore (MAS) has launched a second consultation on a payments regulatory framework, known as the Payment Services Bill. The Bill is designed to streamline the regulation of payment services under a single legislation, expand the scope of regulated payment activities to… Read More

Singapore Updates on Payments Council as Quick Response Code Specifications for Electronic Payments is Endorsed

The Monetary Authority of Singapore has posted an update on the Singapore Payments Council. According to MAS, the COuncil has endorsed the specification for a common Singapore Quick Response Code (SG QR) that can accept electronic payments by both domestic and international payment schemes, e-wallets,… Read More

Singapore Says $2 Billion in Funding Available for Fintech Startups via FinTech Festival Investor Summit

The Monetary Authority of Singapore (MAS) is reporting that up to USD $2 billion was made available to Fintech startups at the annual Singapore FinTech Festival Investor Summit.  MAS reports that 1000 attendees, including entrepreneurs and investors, participated in the “Deal Day” at the finale. … Read More

Singapore Creates Massive Partnership to Boost Development of Fintech Professionals

Six local universities and three governmental agencies have joined together in a “landmark” Memorandum of Intent (MOI) to create the “TechSkills Accelerators FinTech Collective. The mission is to develop industry ready professionals with the needed skills in the booming sector. The “TeSA FinTech Collective” was… Read More