Tagged: monetary authority of singapore

October 10, 2019 @ 3:28 pm By JD Alois  |  

In a wide-ranging speech at The World Federation of Exchanges General, Jacqueline Loh, Deputy Managing Director, Monetary Authority of Singapore (MAS) addressed the advent of blockchain or distributed ledger technology (DLT) in the utilization of regulated securities and exchanges. Singapore is a noted Fintech Hub… Read More

October 2, 2019 @ 7:00 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have revealed the 40 finalists have been shortlisted for the Fintech Awards to be presented at this year’s Singapore FinTech Festival x Singapore Week of Innovation and Technology (SFF x SWITCH)…. Read More

September 30, 2019 @ 12:26 pm By JD Alois  |  

Fintech Funderbeam has received a financial services license from the Monetary Authority of Singapore (MAS). This means that Funderbeam will be able to provide funding options to the Singapore market thus representing a significant expansion from its European base. Singapore based Funderbeam Markets Pte Ltd…. Read More

September 21, 2019 @ 12:03 pm By Omar Faridi  |  

Ravi Menon, head of the Monetary Authority of Singapore (MAS), the nation’s central bank, has warned that Facebook’s controversial stablecoin project Libra raises significant global financial risks, which must be addressed by regulatory authorities.  Menon joins a growing list of regulators throughout the world who’ve… Read More

September 16, 2019 @ 11:39 pm By JD Alois  |  

iSTOX, a digital securities issuer and secondary trading platform, has hired Lim Mei Shern as its new Head of Compliance. Lim was previously at the Monetary Authority of Singapore (MAS) where she spent the past 15 years in the supervision of capital markets as well… Read More

September 16, 2019 @ 4:48 pm By JD Alois  |  

Last month, the Monetary Authority of Singapore (MAS) began accepting applications for digital-only banks. The applications were being accepted by Fintechs and not established, traditional banks. MAS is expected to issue up to two digital full bank licenses and three digital wholesale bank licenses. The… Read More

September 9, 2019 @ 7:03 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank, revealed that a new regulatory evaluation program is being developed to connect payment companies with legal service providers.  The program is part of a joint initiative launched by the MAS and the Singapore Academy of… Read More

August 29, 2019 @ 10:49 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has commenced accepting applications for digital bank licenses. The new licenses are for aspiring non-bank Fintechs. MAS seeks to ensure that Singapore’s banking sector continues to be resilient, competitive and vibrant. Applicants must have their paperwork in by December… Read More

August 7, 2019 @ 3:12 pm By Samantha Hurst  |  

The Monetary Authority of Singapore (MAS) announced on Wednesday it launched Sandbox Express to provide firms with a faster option to test financial products and services in the market. MAS reported that eligible applicants can begin market testing in the pre-defined environment of Sandbox Express… Read More

July 17, 2019 @ 5:35 pm By JD Alois  |  

The International Monetary Fund (IMF) has completed its Financial Sector Assessment Program for Singapore and has reportedly “reaffirmed” Singapore’s financial sector oversight to be “among the best globally,” according to a release. The IMF said the economic fundamentals of Singapore were strong and its economic… Read More

July 17, 2019 @ 2:19 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has signed a “Fintech Cooperation Agreement” with the Central Bank of Kenya. The agreement was finalized during the inaugural Afro-Asia Fintech Festival in Nairobi, Kenya. The two entities said they will collaborate to develop digital infrastructure services including KYC… Read More

July 1, 2019 @ 3:14 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) will issue five new “digital bank licenses” according to the financial regulator. MAS said this was in addition to any existing Singapore banks which may also offer digital banking under existing rules. MAS said the new rules extend digital… Read More

May 29, 2019 @ 7:56 pm By Cali Haan  |  

Citing concerns about “…anonymity, speed and cross-border nature of DPT (cryptocurrency or digital payment tokens) transactions,” the Monetary Authority of Singapore (MAS) has stated it does not want to hasten regulation of cryptocurrencies because of the potentially “legitimizing” and popularizing effect doing so could have…. Read More

May 2, 2019 @ 10:48 am By JD Alois  |  

The Central Bank of Canada and Monetary Authority of Singapore (MAS) have jointly announced the successful “experiment” of cross border payments using blockchain or distributed ledger technology (DLT). The two central banks claim this is the first test anywhere of its kind stating it has… Read More

March 5, 2019 @ 11:00 am By JD Alois  |  

A new report by the Cambridge Centre for Alternative Finance (CCAF) states that if properly regulated, Fintech can “extend the benefits of financial inclusion to millions of unbanked and underbanked people around the world.” Fintech has the potential to provide enormous benefit for the less… Read More

January 29, 2019 @ 8:06 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has issued another warning regarding bogus websites promoting fraudulent cryptocurrency investments that are claimed to be supported by the government of Singapore. MAS provided a single example of a fabricated CNBC site that prominently states: “Singapore Officially Backs a… Read More

January 24, 2019 @ 8:41 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has shut down a security token offering (STO) for a “regulatory breach.” MAS said the issuer in question failed to comply with advertising restrictions. Specifically, the STOs legal advisors promoted the offering on LinkedIn calling attention to the offering…. Read More

January 14, 2019 @ 8:12 am By JD Alois  |  

Seeking to boost their prominence as an equity financing hub in Asia, the Monetary Authority of Singapore (MAS) has announced a grant of S$75 million to help businesses raise funding via the Singapore equity market. Singapore is one of the most business-friendly jurisdictions in the… Read More

December 3, 2018 @ 11:07 am By Samantha Hurst  |  

The Monetary Authority of Singapore (MAS) announced on Monday the launch of a new S$30 million Cybersecurity Capabilities Grant to strengthen the cyber resilience of the financial sector in Singapore and help financial institutions develop local talent in cybersecurity. According to MAS, the Grant was… Read More

November 25, 2018 @ 7:11 pm By JD Alois  |  

Following the recent Fintech Festival in Singapore, the Monetary Authority of Singapore (MAS) has completed a new regulatory framework for payment services in Singapore. The Payment Services Bill is said to provide a “more conducive environment for innovation in payment services, whilst ensuring that risks across the payments… Read More