Tagged: monetary authority of singapore

November 26, 2020 @ 10:18 am By JD Alois  |  

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

November 25, 2020 @ 11:39 am By JD Alois  |  

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

November 23, 2020 @ 10:38 am By JD Alois  |  

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

November 4, 2020 @ 10:16 am By JD Alois  |  

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

November 1, 2020 @ 11:00 pm By Omar Faridi  |  

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

October 30, 2020 @ 3:35 pm By Omar Faridi  |  

  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

October 13, 2020 @ 5:28 pm By Omar Faridi  |  

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

September 30, 2020 @ 8:21 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has told bankrupt Fintech Wirecard (WDI.DE) to halt payment services in Singapore and to return all customer funds by October 14, 2020. MAS states that it has been monitoring Wirecard’s bankruptcy proceedings and the ability of the company to provide… Read More

September 17, 2020 @ 9:32 pm By JD Alois  |  

Hg Exchange (HGX), Southeast Asia’s first private securities exchange, has kicked off trading. Founding members of the exchange include PhillipCapital, Prime Partners, and Fundnel – a leading securities crowdfunding platform serving sophisticated investors across Asia. Richard Teng, formerly an executive at the Monetary Authority of… Read More

August 20, 2020 @ 4:10 pm By Omar Faridi  |  

Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), recently delivered a speech on “Powering the next stage of Singapore Fintech” at the Singapore Fintech Festival Just five years ago, the country’s leaders had a vision that focused on making Singapore a… Read More

August 14, 2020 @ 12:43 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, recently revealed that it will commit S$250 million (appr. $182 million) in capital over the course of the next three years, in order to support the country’s financial industry. The funds are being… Read More

August 4, 2020 @ 9:31 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS), along with the National University of Singapore (NAS) and National Research Foundation (NRF), have joined to create a new Fintech focused entity: the Asian Institute of Digital Finance (AIDF). AIDF is expected to provide thought leadership and strengthen synergies… Read More

July 13, 2020 @ 10:22 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) and Temasek have published the final report on a blockchain trial. The report, “Project Ubin Phase 5: Enabling Broad Ecosystem Opportunities” shares insights into the blockchain-based multi-currency payments network prototype that was built and describes how the network could… Read More

July 13, 2020 @ 8:34 am By JD Alois  |  

The Wirecard AG (WDI:DE) scandal has rocked the Fintech world as the once high flying firm that was a member of the DAX filed for bankruptcy following the revelation of a €1.9 billion in missing funds. Regulators, elected officials as well as Fintech industry insiders have… Read More

July 3, 2020 @ 10:32 am By JD Alois  |  

Wirecard AG (WDI:DE), once a prominent payments Fintech and now a financial debacle due to allegations of massive fraud, continues to try and find a way to survive. Meanwhile, shares in the firm have tanked dropping from over €100/share to now around €3/share as the… Read More

June 30, 2020 @ 2:54 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS), the top financial regulator in Singapore, has issued a statement indicating Wirecard AG (WDI:DE) customer funds have been parked in Singapore banks thus segregating the funds from the Wirecard implosion. Wirecard is not currently licensed by MAS as there is… Read More

June 19, 2020 @ 10:50 am By JD Alois  |  

A new private securities exchange, Hg Exchange, has joined the Monetary Authority of Singapore’s (MAS) Fintech Sandbox. Hg Exchange’s tenure at the Fintech Sandbox begins on June 22, 2020, and is scheduled to last until December of this year. Hg Exchange will offer 24/7 trading… Read More

June 18, 2020 @ 11:28 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced that 14 out of 21 applications to become digital banks have met the eligibility criteria for the Fintechs to be considered. MAS announced on June 28, 2019, that it would issue up to two digital full bank… Read More

June 16, 2020 @ 8:28 am By Omar Faridi  |  

The developers and management TikTok, a leading Chinese video-sharing social network, are reportedly branching out into the financial services sector with the owners of the Oversea-Chinese Banking Corporation, Limited (OCBC) Bank (SGX: O39), a multinational banking and financial services corporation. Beijing-based ByteDance, a Chinese multinational… Read More

June 8, 2020 @ 10:22 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has launched the S$ 1.75 million MAS Global Fintech Innovation Challenge. The competition seeks Fintech solutions that can help financial institutions respond to COVID-19 and climate change. MAS said the theme for the competition is “Building Resilience, Seizing Opportunities,… Read More