Tagged: monetary authority of singapore

AI Pioneer Red Dot Analytics Teams Up with MetaVerse Green Exchange to Support Carbon Neutral Data Centers

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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

Australia, Singapore to Deepen Fintech Collaboration

Australia

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

China’s Greenland Financial Technology Partners with Singapore’s MetaVerse Green Exchange on Cross-Border Digital Carbon Credits, Crypto-Assets

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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

NGFS Acknowledges Nature-related Risks May have Macroeconomic, Financial Implications

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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

Paxos Receives Preliminary MAS Digital Services Approval in Singapore

Marina Bay Singapore Asia

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

MAS Punishes DBS Bank After 2021 Digital Banking Outage

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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

Monetary Authority of Singapore to Develop a Framework for Equitable Sharing of Losses from Scams

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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

Fintech Firm Airwallex Launches International Payment Services in Singapore

Singapore Street Taxi

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

Singapore Now Home to Over 370 PE and VC Managers, as Digital Economy and Embedded Finance Become Widely Adopted

Marina Promenade Singapore

Mr Leong Sing Chiong, Deputy MD at the Monetary Authority of Singapore (MAS), noted (during the annual IBF Distinction Evening program) that every year, the financial services industry gathers to “recognize those who have reached the pinnacle of their professions, and those who have contributed significantly… Read More

Following Investment in HG Exchange, Binance Shutters Singapore Crypto Exchange

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Binance has shut down its Singapore-facing crypto exchange. The news follows a series of events that have eventually led to Binance exiting the top Asian Fintech market with a wholly owned trading platform. Binance Singapore was originally granted an exemption from holding a license under… Read More

MAS Reportedly OKs Nityo’s $100M MatchMove Investment 6 Months Later

Approved

The six-month wait was worth it. The Monetary Authority of Singapore (MAS) has reportedly approved Nityo Infotech’s $100 million investment in MatchMove, a Singapore-based digital payments and banking fintech. The assent of the deal, which was originally agreed to in early summer, was reported by… Read More

Asian Crypto Payments Firm TripleA Granted MAS Digital Payment License, 170+ Applications Received

Tanjon Pagar Singapore Asia

Asian cryptocurrency payments company TripleA has been granted a digital payment token license by the Monetary Authority of Singapore (MAS). TripleA is the first standard payment institution to receive this license, the company said. The designation allows TripleA to provide end-to-end cryptocurrency payment services for… Read More

2-Day DBS Banking Shutdown Captures MAS Attention

Singapore DBS Skyscrapers Asia

While the DBS Bank motto is “Live more, bank less,” some customers found they could not bank at all after some services were disrupted for days earlier this week. The problem was discovered Tuesday morning when customers began having issues with account logins. Initial communications… Read More

Singapore and Abu Dhabi Complete Cross Border Digital Trade Finance Pilot

Singapore Harbor Ships Shipping Trade

Singapore and Abu Dhabi (UAE), have completed a pilot of a “world’s first” cross-border digital trade financing pilot. The pilot was completed in partnership with the Monetary Authority of Singapore (MAS), Singapore’s Infocomm Media Development Authority (IMDA),  the Financial Services Regulatory Authority (FSRA) of Abu… Read More

CBDCs Have Potential But Not in 2022: Monetary Authority of Singapore Pumps the Brakes

Singapore Money 100

CBDCs have the potential to make a significant impact on global finance, but appropriate safeguards need to be in place, an official from the Monetary Authority of Singapore (MAS) said today. The industry gathered for the Singapore FinTech Festival, where one of the presenters was… Read More

Tencent, Asian Institute of Digital Finance to Support Fintech Innovation in Asian Markets

Singapore Asia

Tencent revealed at the Singapore Fintech Festival 2021 that it will be teaming up with the Asian Institute of Digital Finance (AIDF), which is an institute within the National University of Singapore (NUS) that has been established by the Monetary Authority of Singapore (MAS), the… Read More

Monetary Authority of Singapore Announces Finalists for Global Fintech Hackcelerator

Tanjong Pagar Bell Singapore Asia

The Monetary Authority of Singapore (MAS) has announceed the finalists for the Global Fintech Hackcelerator and the Singapore Fintech Festival (SFF) Global Fintech Awards. These Awards are among “the key highlights of SFF 2021, which will take place from 8 to 12 November 2021,” according to… Read More

Digital FX Hub Created by Deutsche Bank and Monetary Authority of Singapore Completes First Set of Transactions

Deutsche Bank Mobile App

Deutsche Bank (ETR: DBK) announced that it has completed “its first set of live trades on its electronic foreign exchange (e-FX) hub, based in SG1.” The e-FX hub, which was created with assistance from the Monetary Authority of Singapore (MAS), allows Deutsche Bank’s customers to… Read More

SBI Holdings, Sygnum, Azimut Group Introduce $75M VC Fund for Supporting Crypto Startup Investments

Bitcoin and Fiat Coins Money

Japanese financial giant SBI Holdings, Switzerland’s crypto-asset bank Sygnum, and European asset management firm Azimut Group have introduced a VC fund of up to $75M that will be based in Singapore. It will focus on making investments in startups operating in the digital assets space…. Read More

Monetary Authority of Singapore and Bank Negara Malaysia to Support Efficient Real-Time, Cross-Border Payments

Singapore Shops Asia

The Monetary Authority of Singapore (MAS), the nation’s reserve bank and financial regulator, and Bank Negara Malaysia (BNM). the central bank of the Southeast Asian country, revealed that they are beginning a phased linkage of Singapore’s PayNow and Malaysia’s DuitNow real-time payment solutions. The initial… Read More

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