Tagged: monetary authority of singapore

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

June 6, 2020 @ 2:59 pm By Omar Faridi  |  

Martin Best, CMO at Wirex, confirmed in a blog post on June 4, 2020, that the London-based financial services firm will allow users to purchase, hold and exchange New Zealand dollars (NZD) and 19 other currencies including Bitcoin (BTC), Ether (ETH), Singapore dollars (SGD), and… Read More

June 2, 2020 @ 10:31 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has recently created a section of its website outlining the support programs for domestic Fintechs. Singapore has long advocated on behalf of innovation in financial services and MAS has a long history of public-private partnerships in support of the… Read More

May 15, 2020 @ 2:08 pm By JD Alois  |  

  The Monetary Authority of Singapore (MAS) has posted a response to a consultation regarding the regulation of derivative contracts on payment tokens (ie digital currencies such as Bitcoin or Ethereum used as a method of payment). The original consultation was launched in November 2019… Read More

May 13, 2020 @ 10:45 am By JD Alois  |  

The Monetary Authority of Singapore (MAS), Singapore Fintech Association (SFA), AMTD Group (NYSE: HKIB; SGX: HKB) and AMTD Foundation have joined in announcing a S$ 6 million “MAS-SFA-AMTD Fintech Solidarity Grant.” The new grant is designed to support Singapore based Fintech firms during the Coronavirus… Read More

May 5, 2020 @ 11:02 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator,  confirmed recently that it would be supporting the inaugural G20 TechSprint initiative, which has been introduced by the Bank for International Settlements (BIS) Innovation Hub and the Saudi G20 Presidency on the… Read More

April 20, 2020 @ 10:27 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has launched a new lending facility to make certain SMEs have access to capital to mitigate the impact of the COVID-19 pandemic. The MAS SGD Facility for ESG Loans is in partnership with Enterprise Singapore (ESG). The goal is… Read More

April 17, 2020 @ 10:13 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) is telling customers of financial institutions to stop going to brick and mortar locations during the COVID-19 pandemic. MAS is urging consumers to use digital, email, and telephone channels as far as possible. Of course, MAS is telling the… Read More

April 14, 2020 @ 8:27 am By Samantha Hurst  |  

Apifiny, a digital asset marketplace that seeks to enable institutional trading across multiple regulated exchanges, announced on Tuesday it has been granted an exemption by the Monetary Authority of Singapore (MAS) from holding a license under that country’s Payment Services Act (PSA). Founded in 2019, Apifiny describes itself… Read More

April 13, 2020 @ 10:31 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has published an FAQ in regards to the new Payment Services Act. The Payment Services Act has gone through a consultation process with MAS responding in December 2019. The FAQ is meant to provide guidance on the licensing and… Read More

April 10, 2020 @ 10:27 am By Omar Faridi  |  

Companies and institutions that may have applied for a digital banking license in Singapore will now have to wait longer in order to find out if their application was approved. The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has confirmed… Read More

April 9, 2020 @ 9:18 pm By Omar Faridi  |  

AMTD International (NYSE: HKIB; SGX: HKB), which is part of the AMTD Group, an established Asian financial services conglomerate, has confirmed its secondary listing on the Mainboard of the Singapore Exchange Securities Trading Ltd (the “SGX-ST”) under the ticker “HKB.” AMTD International’s listing notably marks… Read More

April 9, 2020 @ 7:17 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has introduced a $125 million support package, in order to support local financial service providers and Fintech companies, following the Coronavirus (COVID-19) outbreak, and resulting economic instability. The MAS noted that $90… Read More

April 7, 2020 @ 8:00 pm By JD Alois  |  

Propine Seeks to Power the Future of Digital Assets Singapore has long been a leader in Fintech. Innovative financial services have benefited from a supportive regulatory regime and an entrepreneurial population. Singapore is also a highly business-friendly, low tax jurisdiction and has emerged as a… Read More

March 26, 2020 @ 6:31 pm By Omar Faridi  |  

Singapore-based Fintech company MatchMove has partnered with local finance firm, Singapura Finance Ltd., and two others, in order to apply for a virtual banking license in the city-state. The MatchMove-led consortium is the most recent group to reveal that it has filed an application for… Read More

March 8, 2020 @ 7:00 pm By Omar Faridi  |  

In June 2020, Singapore’s regulatory authorities will be issuing operational licenses to three new wholesale neobanks in order to provide better services to underbanked small-and-medium-sized enterprises (SMEs).  The Monetary Authority of Singapore (MAS) confirmed in mid-2019 that it would begin accepting applications for five new… Read More

February 4, 2020 @ 7:39 am By JD Alois  |  

Asset management firm Mindful Wealth has re-domiciled in Singapore to benefit from the new “Variable Capital Companies” (VCC) framework. Mindful Wealth currently claims over $600 million in assets under management (AUM). The company originally started in Switzerland providing wealth management and other corporate services. Mindful… Read More

February 3, 2020 @ 11:32 am By JD Alois  |  

iSTOX, a blockchain-based platform, is now the first digital securities issuance, custody, and trading platform, licensed in Singapore. iSTOX recently “graduated” from the Monetary Authority of Singapore’s Fintech Sandbox program and has received regulatory approval to operate and provide digital asset issuance and trading. This… Read More

January 7, 2020 @ 7:39 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has seen 21 different entities apply for a digital-only bank license. MAS had set a deadline for applications of December 31, 2019. MAS is offering just 5 different digital bank licenses. These licenses include two digital full bank (DFB)… Read More