Tagged: mas

June 15, 2022 @ 7:55 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) recently issued revised Guidelines on Business Continuity Management (BCM) for financial institutions, to help them strengthen their resilience “against service disruptions arising from IT outages, pandemic outbreaks, cyber-attacks and physical threats.” The revisions take into account learnings “from the… Read More

June 6, 2022 @ 9:57 am By JD Alois  |  

Mega-Fintech Ant Group has announced the launch of ANEXT Bank, a digital wholesale bank, in Singapore. Several years back, Singapore commenced the approval of digital-only banking licenses. Ant Group was one of the approved digital banking providers. ANEXT Bank is one of the two successful… Read More

May 31, 2022 @ 11:00 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced the launch of Project Guardian, an effort to reveal the value created in leveraging asset tokenization. Singapore has long been a top Asian Fintech hub and there are multiple Fintechs in the digital asset sector based in… Read More

May 30, 2022 @ 10:17 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) has imposed an additional capital requirement of around SGD 330 million on OCBC Bank. The city-state’s regulatory authority noted that this latest move was in response to the deficiencies in the banking institution’s response to a set of “spoofed”… Read More

May 15, 2022 @ 4:17 am By Omar Faridi  |  

MetaVerse Green Exchange (MVGX), a digital green exchange licensed and regulated by the Monetary Authority of Singapore (MAS) and industrial AI pioneer Red Dot Analytics (RDA), a deep tech spin-off from Nanyang Technological University (NTU), Singapore, have announced a collaboration “to enable greater sustainability in… Read More

May 9, 2022 @ 5:34 pm By Omar Faridi  |  

The team at Coinhako is pleased to confirm that their firm has been granted the Monetary Authority of Singapore’s (MAS) official approval “for a Major Payment Institution (MPI) license.” Securing the full license means that the firm will be able “to legally operate as regulated… Read More

April 27, 2022 @ 10:00 pm By Omar Faridi  |  

FT Partners recently shared their Q1 2022 Fintech Insights Report. As noted in the update from FT Partners, it has been a record year for financing in Fintech. The firm is internationally known for its expertise in the Fintech industry. FT Partners has associations with… Read More

April 20, 2022 @ 4:16 pm By Omar Faridi  |  

Australia Treasury and the Monetary Authority of Singapore (MAS) recently signed the Australia-Singapore Fintech Bridge Agreement in order “to strengthen cooperation between the Fintech ecosystems of both countries.” The commencement of discussions to develop the Fintech Bridge was “announced in June 2021, when Australian Prime… Read More

April 7, 2022 @ 7:10 am By Tony Zerucha  |  

The BIS Innovation Hub Singapore Centre and the Monetary Authority of Singapore (MAS) have developed a new prototype platform integrating regulatory data and analytics. Known as Project Ellipse, the platform demonstrates how regulatory and other data, such as articles and news, can be integrated into… Read More

March 28, 2022 @ 11:45 pm By Omar Faridi  |  

Greenland Financial Technology Group (Shanghai), a core platform of Greenland Group, a Fortune 500 company and one of Shanghai’s biggest state-backed enterprises focusing on real estate, infrastructure and finance, and the MetaVerse Green Exchange (MVGX), a digital green exchange licensed and regulated by the Monetary… Read More

March 26, 2022 @ 8:47 pm By Omar Faridi  |  

The NGFS released a “Statement on Nature-related financial risks”, which acknowledges that nature-related risks, “including those associated with biodiversity loss, could have significant macroeconomic implications, and that failure to account for, mitigate, and adapt to these implications is a source of risks relevant for financial… Read More

March 17, 2022 @ 5:25 pm By Tony Zerucha  |  

Singapore Exchange-backed private market platform ADDX recently announced Oi-Yee Choo will be appointed its CEO, subject to the Monetary Authority of Singapore’s (MAS) approval. ADDX was founded in 2017 and began full commercial operations in 2020 after becoming one of the first digital securities exchanges… Read More

March 10, 2022 @ 2:43 pm By Tony Zerucha  |  

Paxos, a blockchain infrastructure platform, announced it has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate digital payments token services under the Payment Services Act 2019. With this license, Paxos becomes one of the first blockchain services providers to meet the highest standard… Read More

February 16, 2022 @ 9:39 pm By Tony Zerucha  |  

The Monetary Authority of Singapore(MAS) has laid the hammer down on DBS Bank after its digital banking services were widely unavailable for three days toward the end of last November. In a public statement, the Monetary Authority of Singapore said it has imposed an additional… Read More

February 6, 2022 @ 4:57 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) recently noted that banks in the Southeast Asian country have “substantially” implemented the additional measures to enhance the security of virtual banking announced on 19 January 2022. The measures, taken together, offer a “significant” added layer of security to… Read More

January 27, 2022 @ 4:10 pm By Tony Zerucha  |  

Fintech firm XREX announced today it has obtained the money services business (MSB) license from the Financial Transactions and Reports Analysis Centre (FINTRAC) under the Canadian government. The license allows the Taipei-based company to extend its crypto-fiat exchange services, which include cross-border payments, remittances, global… Read More

January 21, 2022 @ 6:12 pm By Tony Zerucha  |  

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have responded to a recent spike in SMS phishing scams by introducing stricter security measures, they announced this week. The MAS said it expects all financial institutions to have “robust measures”… Read More

January 18, 2022 @ 10:43 pm By Tony Zerucha  |  

The Network for Greening the Financial System (NGFS) this week announced the appointment of the Monetary Authority of Singapore’s (MAS) managing director Ravi Menon as their new chair. He will serve for a two-year term. Formed at the Paris One Planet Summit in December 2017 by… Read More

January 18, 2022 @ 5:56 pm By Tony Zerucha  |  

The Monetary Authority of Singapore (MAS) today took steps to effectively ban the advertising of cryptocurrencies to the general public. The guidelines cover payment institutions, banks and other financial institutions, as well as applicants under Singapore’s Payment Services Act. Services included in the directives are… Read More

January 15, 2022 @ 4:09 pm By Omar Faridi  |  

Fintech platform Airwallex has announced its official launch in Singapore, following its grant of a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS) and “a beta launch in November last year.” Singapore businesses are now able to benefit from Airwallex’s suite… Read More