Tagged: monetary authority of singapore

Buy Now Pay Later or BNPL Adoption on Track to Reach $7.3B in 2027 with APAC being the Fastest-Growing Region: Report

Buy Now, Pay Later or BNPL adoption is on track to grow significantly in the next few years with the Asia-Pacific region being one of the main drivers. A study performed by Coherent Market Insights reveals that the international BNPL market had been valued at… Read More

Singapore Police, Securities Regulators, Announce Investigation into CoAssets Collapse

CoAssets, an early entrant in the investment crowdfunding sector that once saw its shares trade on the Australian Stock Exchange (ASX), is being investigated by government authorities in Singapore following the news the company was shutting down. Earlier this month, CoAssets issued the following statement:… Read More

Chinese Fintech FinVolution Scores Capital Markets Services License From Monetary Authority of Singapore

  FinVolution Group, a China-based fintech that connects underserved individual borrowers with financial institutions, announced on Tuesday its subsidiary has received the Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) to conduct regulated activities in dealing in capital markets products in Singapore. Finvolution reported… Read More

Monetary Authority of Singapore and Nation’s Association of Banks are Encouraging Consumers to Use E-Gifting for Lunar New Year

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, is encouraging the country’s residents to use e-hong baos, which are monetary gifts handed out in envelopes, during the upcoming Lunar New Year. Singapore’s Association of Banks (ABS) said it would be… Read More

Singapore’s Digital Wealth Management Firm, Syfe, Introduces Cash Management Solution, Syfe Cash+

Syfe, a digital wealth management firm that’s licensed by the Monetary Authority of Singapore (MAS), has introduced the Syfe Cash+ portfolio which is the company’s cash management product. Syfe Cash+ aims to help all Singapore based consumers with growing their savings while being able to… Read More

MAS: Singapore Updates Fintech Sandbox Express Guidelines

Singapore is a jurisdiction that has worked to enable innovation in financial services. A collaborative government that encourages the financial regulator, the Monetary Authority of Singapore (MAS), to enable change has created a robust Fintech ecosystem. MAS has long operated a regulatory Sandbox to help… Read More

CoAssets to Shut Down

CoAssets, now operating as CA Funding, is shutting down according to a post on the company’s website. In the post, CoAssets stated: “We regret to inform you that CA Funding Pte Ltd (CAFPL) is in the process of gradually winding down. For members who do… Read More

The Four Digital Banks of Singapore

Earlier this month, the Monetary Authority of Singapore (MAS) announced the first four digital banks approved by the regulator. The first digital banks out of the gate are the culmination of a multi-year process where MAS. In June 2019, MAS announced it would approve up… Read More

Majority of ASEAN Region Fintech Firms are Planning to Raise Additional Funds while Expanding Operations in 2021: Report

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

Fintech Collaboration: Monetary Authority of Singapore and Hungary’s Magyar Nemzeti Bank to Work on Financial Tech Projects

The Monetary Authority of Singapore (MAS) and the Magyar Nemzeti Bank (MNB) have entered into a co-operation Agreement (CA) in order to collaborate on various Fintech initiatives that will enhance Singapore and Hungary’s economy. The CA aims to establish a framework for Fintech collaboration between… Read More

Singapore: 2020 Global Fintech Innovation Challenge Winners Announced

The Monetary Authority of Singapore (MAS) has announced the winners of the 2020 Global Fintech Innovation Challenge. This year the theme was “Building Resilience, Seizing Opportunities, Emerging Stronger,” appropriate during the time of COVID. The awards were handed out today at the Singapore Fintech Festival… Read More

Reuben Lai, Senior MD at Grab Financial, Says their Digital Full Bank License Is Strong Step towards Financially Empowering Singaporeans

Reuben Lai, Senior Managing Director at Grab Financial Group, has said that he’s really excited and honored to confirm that Grab’s consortium with Singtel has acquired the digital full bank license from the Monetary Authority of Singapore (MAS). As reported recently, the MAS revealed the… Read More

Monetary Authority of Singapore Announces the First Four Digital Banks to Receive Regulatory Approval

Monetary Authority of Singapore (MAS) announced on June 28, 2019, that it would issue up to two digital full bank (DFB) licenses and three digital wholesale bank (DWB) licenses. Last June, MAS announced that 14 out of 21 applications to become digital banks have met… Read More

Digital Finance: MAS MD Explains How Fintech Can Boost Financial Inclusion

In an interview as part of the Fintech Abu Dhabi Festival taking place this week, Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), discussed how Fintech or digital finance has been boosted by the COVID health crisis. Digital Transformation Menon shared that… Read More

Monetary Authority of Singapore Posts Finalists for Fintech Hackcelerator

The Monetary Authority of Singapore (MAS) has posted the 20 finalists for the 2020 Global Fintech Hackcelerator, an annual event that saw aspiring firms look to adapt to the challenges of COVID-19. MAS states that the Global Fintech Hackcelerator identifies innovative market-ready solutions to address… Read More

MAS: Singapore and China Seek to Strengthen Fintech Connectivity

The 3rd Singapore-China (Chongqing) Connectivity Initiative (CCI) Financial Summit anticipates greater financial connectivity between the two countries, according to a note issued by the Monetary Authority of Singapore (MAS). At the event opening the Minister for Manpower, Singapore, Josephine Teo was said to highlight that… Read More

Monetary Authority of Singapore Posts Consultation Response Regarding Payments, Including Digital Payment Tokens

In 2019, the Monetary Authority of Singapore (MAS) launched a consultation on the Payment Services Act (PS Act) that in relation to AML/CFT, and other amendments in respect of digital payment token (DPT) service and certain technical amendments. The consultation address certain proposed amendments to… Read More

Tuhina Singh: Founder of Propine Explains Why Reliable Custody Solutions for Digital Assets are Needed to Promote Institutional Adoption

We recently connected with Tuhina Singh, Founder of Propine, a comprehensive securities services provider for digital securities. Singh previously worked as an options trader and has developed derivatives trading platforms from scratch. Crowdfund Insider previously reported that Propine is the first independent digital asset custodian… Read More

Underserved Singapore based SMEs are Now Considering Switching to Digital Banks: Visa Survey

  Payments giant Visa recently published a study on Digital Banking and SMEs in Singapore. According to the report, 88% of Singapore’s SMEs are now considering switching over to an all-digital banking platform. These findings of the study have been released at a time when the… Read More

Singapore Fintech iLex to Use Loan Solutions Offered by Refinitiv, will Redistribute LPC Loan Market Data via iLex Platform

iLex, a Fintech firm that is focused on improving the corporate loan market, has partnered with Refinitiv through its LPC brand, in order to integrate their loan solutions and redistribute LPC loan market data via the iLex platform. As mentioned in a release shared with… Read More

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