Tagged: monetary authority of singapore

January 6, 2023 @ 8:53 am By Omar Faridi  |  

On 28 December 2022, the High Court in Singapore sentenced Mr Soh Chee Wen (also known as John Soh), and Ms Quah Su-Ling to a total of 36 and 20 years’ imprisonment respectively “for, among other things, orchestrating an elaborate scheme to manipulate the shares… Read More

December 16, 2022 @ 8:27 am By Omar Faridi  |  

Payoneer (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, has received in-principle approval as a Major Payment Institution License holder from the Monetary Authority of Singapore (MAS). The license, once received, “will allow Payoneer to offer additional payments… Read More

November 21, 2022 @ 11:34 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has issued a statement addressing the bankruptcy of FTX, saying it would like to address some questions and “misconceptions.” Singapore is recognized as the top Fintech hub in Asia and is generally viewed as digital asset friendly. That being… Read More

November 19, 2022 @ 10:34 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the United Nations Capital Development Fund (UNCDF) have signed a Memorandum of Understanding on 11 November 2022 “to jointly develop integrated and digital financial ecosystems for micro, small and medium enterprises (MSMEs) from least developed countries (LDCs).” The… Read More

November 9, 2022 @ 9:31 am By Omar Faridi  |  

HSBC is pleased to partner with Marketnode, a SGX Group and Temasek joint venture and digital markets infrastructure operator, and UOB in order “to pilot fully digital issuance of wealth management products as part of a Monetary Authority of Singapore (MAS)-led collaboration on asset tokenisation,… Read More

November 1, 2022 @ 2:17 am By Omar Faridi  |  

Indonesia Stock Exchange (IDX), the country’s national securities exchange and among the “fastest growing” in the continent, is exploring the possibility of working with MetaVerse Green Exchange (MVGX), a digital green exchange licensed and regulated by the Monetary Authority of Singapore (MAS), “to develop Indonesia’s… Read More

October 31, 2022 @ 2:16 pm By JD Alois  |  

DBS, a top financial services group in Asia with a presence in 18 markets and based in Singapore, has announced an initiative to create a programmable digital Singapore dollars (DSGD). The project has the defacto approval of the Singapore government which recently indicated its support… Read More

October 27, 2022 @ 9:10 am By JD Alois  |  

-Retail Investors May Be Banned from Using Leverage in Crypto Trading -Banks Allowed to Issue Stablecoins The Monetary Authority of Singapore (MAS) has proposed new initiatives aimed at mitigating risk to consumers in regard to crypto trading. At the same time, MAS has proposed new… Read More

October 17, 2022 @ 9:12 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) announced that Ms. Gillian Tan will be appointed Chief Sustainability Officer “from 17 October 2022, in addition to her current role as Assistant Managing Director (Development & International).” MAS’ current Chief Sustainability Officer, Dr. Darian McBain, will “leave MAS… Read More

October 9, 2022 @ 3:33 pm By JD Alois  |  

This past week, Singapore MP Yip Hon Weng queried public officials about the risk of money laundering and fraud in the cryptocurrency markets. Singapore has emerged as a top hub for digital asset innovation with some firms moving to the country due to its Fintech-friendly… Read More

October 6, 2022 @ 6:39 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) has launched the ESG Impact Hub to spur co-location and collaboration “between Environment, Social, Governance (ESG) Fintech startups and solution providers, financial institutions and real economy stakeholders.” The Hub will also “anchor industry-driven sustainability initiatives such the Point Carbon… Read More

September 20, 2022 @ 11:57 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the International Financial Services Centres Authority (IFSCA) signed a Fintech Co-operation Agreement (CA) in order “to facilitate regulatory collaboration and partnership in FinTech.” The CA will promote the following: Regulatory Sandbox Collaboration – MAS and IFSCA will “leverage… Read More

September 16, 2022 @ 5:17 pm By Omar Faridi  |  

Lawrence Wong, Deputy Prime Minister and Minster for Finance, and Monetary Authority of Singapore (MAS) Deputy Chairman, launched the Financial Services Industry Transformation Map (ITM) 2025. The ITM 2025 lays out the growth strategies “to further develop Singapore as a leading international financial centre in… Read More

September 13, 2022 @ 10:42 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX Group) have jointly launched ESGenome, a digital disclosure portal for companies “to report Environmental, Social and Governance (ESG) data in a structured and efficient manner, and for investors to access such data in a consistent… Read More

September 12, 2022 @ 11:24 am By JD Alois  |  

Earlier today, the Monetary Authority of Singapore (MAS) posted a letter addressed Tharman Shanmugaratnam, Senior Minister and Minister in charge of MAS. An MP, Derrick Goh, inquired about buy now – pay later (BNPL) activity in the country. Responding to the inquiry, the Minister shared… Read More

August 29, 2022 @ 12:47 pm By JD Alois  |  

MAS Supports Digital Asset Innovation, No Ban on Crypto Trading but Seeks to Limit Retail Access Singapore is a top global Fintech hub and the leading Asian center for innovation in financial services. The Monetary Authority of Singapore (MAS) has long aided the digitization of… Read More

August 8, 2022 @ 10:22 am By JD Alois  |  

Hodlnaut, a Singapore-based crypto platform, has halted all withdrawals, token swaps, and deposits – effective immediately. Holdlnaut is a crypto lending and borrowing platform that was founded in 2019 by Bitcoin maximalists Juntao Zhu and Simon Lee. Hodlnaut supported seven different digital assets: BTC, WBTC,… Read More

August 4, 2022 @ 11:23 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) has granted Digital Treasures Center (DTC) the Major Payment Institution (MPI) license. Securing the full license “means DTC has exited from the exemption status and is now a fully regulated provider (MAS license number: PS20200531) of Digital Payment Token… Read More

July 31, 2022 @ 7:01 pm By Omar Faridi  |  

The International Financial Services Centre Authority (IFSCA) and the Monetary Authority of Singapore (MAS) recently exchanged a Memorandum of Understanding (MOU) on supervisory cooperation “in the presence of the Honorable Prime Minister of India Shri. Narendra Modi at GIFT City, Gandhinagar, India.” The MOU provides… Read More

July 27, 2022 @ 9:56 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and Google Cloud have jointly launched the Point Carbon Zero Program “to drive the innovation, incubation and scaling of climate FinTech solutions in Asia.” The Program is “a collaboration under MAS’ Project Greenprint and seeks to use climate FinTech… Read More