The Monetary Authority of Singapore (MAS) has initiated a public consultation process as it seeks to revamp the regulatory framework governing fund managers. The proposal aims to disband the existing Registered Fund Management Companies (RFMCs) regime, providing an opportunity for current RFMCs to transition to… Read More
The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS) in Riyadh, in the field of Fintech and innovation. The agreement was signed by Ayman Al-Sayari, Governor of SAMA, and Dr. Vivian Balakrishnan, the Minister for Foreign Affairs of… Read More
Earlier this year, Ripple received in-principle approval of its Major Payments Institution (MPI) license application from the Monetary Authority of Singapore (MAS). Four months on, Ripple is pleased to “announce that its Singapore subsidiary, Ripple Markets APAC Pte Ltd, has secured its full MPI license… Read More
Coinbase Singapore has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This development, coming after Coinbase’s (NASDAQ:COIN) initial In Principle Approval, amplifies their commitment to the Singapore market, enabling them “to expand their provision of Digital Payment Token services to… Read More
Starting next year, four top insurance companies headquartered in Singapore – AIA Singapore, Income Insurance, Prudential Assurance Company Singapore, and The Great Eastern Life Assurance Company – will undergo heightened capital requirements, the Monetary Authority of Singapore (MAS) has announced. Specifically, the four insurers will… Read More
The Monetary Authority of Singapore (MAS) announced that the President of the Republic of Singapore has appointed Chia Der Jiun “as Managing Director (Designate), MAS from 1 November 2023 to 31 December 2023, and as Managing Director, MAS from 1 January 2024 to 31 May 2026.”… Read More
Payoneer Singapore Private Limited, a subsidiary of Payoneer Global Inc. (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized enterprises (SMEs) to transact, do business, and grow globally, has been “granted a Major Payment Institution License from the Monetary Authority of Singapore… Read More
The Monetary Authority of Singapore (MAS) has revealed the regulatory framework for compliant stablecoins. Singapore is the top Fintech hub in Asia. MAS is a key collaborator in enabling Fintech innovation. In 2022, MAS kicked off a public consultation on stablecoins, asset-backed digital assets typically… Read More
TerraPay, a global payments infrastructure company, has secured an In-Principle Approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), “marking a significant step towards being a payments company with the most regulatory approvals.” With this coveted approval from MAS,… Read More
Blockchain.com, which claims to be one of the world’s most trusted and earliest crypto platforms, announced that it has been granted a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS) on 1st of August 2023. This announcement follows Blockchain.com “receiving its… Read More
Singapore is one of the most forward-thinking Fintech hubs in the world. Today, its top financial regulatory, the Monetary Authority of Singapore (MAS), has reaffirmed its support of Fintech and announced it will provide S$150 million to innovative firms over the next three years. The… Read More
The Monetary Authority of Singapore (MAS) recently launched a public consultation on a revised framework to strengthen surveillance and defence against money laundering (ML) risks in Singapore’s Single Family Office (SFO) sector. The revised framework will aim to “introduce a harmonized class exemption for SFOs… Read More
The Monetary Authority of Singapore (MAS) announced that insurance policy owners will soon have online options to nominate their beneficiaries. Amendments have been “made to the Insurance (Nomination of Beneficiaries) Regulations 2009, to enable insurers to provide these options from 2 January 2024.” The process… Read More
The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) have signed a Memorandum of Understanding (MoU) in order “to collaborate on a Financial Transparency Corridor (FTC) initiative.” The initiative aims “to establish supporting digital infrastructures to facilitate trade and cross-border related… Read More
The Monetary Authority of Singapore (MAS) announced new requirements for Digital Payment Token (DPT) service providers to safekeep customer assets under a statutory trust before the end of the year. This will aim to “mitigate the risk of loss or misuse of customers’ assets, and… Read More
The Monetary Authority of Singapore (MAS) published a report proposing a framework for designing open, interoperable networks for digital assets (i.e. tokenized real-economy and financial assets). The report Enabling Open & Interoperable Networks was jointly “developed with subject matter experts at the Bank for International… Read More
Ripple, which claims to be the leader in enterprise blockchain and crypto solutions, announced that its Singapore subsidiary Ripple Markets APAC Pte Ltd, has obtained In-Principle Approval of the Major Payments Institution License application from the Monetary Authority of Singapore (MAS). This license will allow… Read More
Digital securities marketplace ADDX has appointed former Singapore Exchange (SGX) Managing Director Chew Sutat as its new Chairman. According to a note from the company, Sutat has Chaired the listing committee of ADDX since 2019. SGX is a shareholder in ADDX. ADDX Pte Ltd took… Read More
The Monetary Authority of Singapore (MAS) has launched the 8th edition of the Global Fintech Hackcelerator, titled “Artificial Intelligence (AI) in Finance Global Challenge”, in order to “produce innovative and market-ready AI solutions that can transform the financial services industry.” The competition is “conducted in… Read More
Crypto.com announced that it has received its Major Payment Institution (MPI) license for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS). This announcement follows Crypto.com “receiving its in-principle approval from MAS in June 2022.” With this license, Crypto.com can “continue to… Read More
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