Tagged: monetary authority singapore

DLT enabled Trade Finance Network Contour Launches Innovation Lab in Singapore to Support Digital Infrastructure

Contour, a blockchain or distributed ledger tech (DLT)-enabled trade finance network that was previously called Voltron, has established a new innovation lab in Singapore. Contour says it will be working cooperatively with its wide network of banking institutions, corporates and various other ecosystem partners to… Read More

Monetary Authority of Singapore Warns Public about Serious Risks of Trading in Securities Incited by Social Media Groups

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, and the Singapore Exchange Regulation (SGX RegCo) have asked the general public to be on alert to the potential risks that may be involved in trading in securities incited by online discussion… Read More

Singapore’s Regulated Digital Asset Custodian Propine Develops Asset Tokenization, Compliance Solutions on Zilliqa

The team at Singapore-based Propine, a regulated digital asset custodian, notes that 3 months ago, the company was selected by blockchain platform Zilliqa as one of 8 startups to take part in the ZILHive Accelerator program. The Propine team has now confirmed that they managed… Read More

Majority of ASEAN Region Fintech Firms are Planning to Raise Additional Funds while Expanding Operations in 2021: Report

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

Fintech Collaboration: Monetary Authority of Singapore and Hungary’s Magyar Nemzeti Bank to Work on Financial Tech Projects

The Monetary Authority of Singapore (MAS) and the Magyar Nemzeti Bank (MNB) have entered into a co-operation Agreement (CA) in order to collaborate on various Fintech initiatives that will enhance Singapore and Hungary’s economy. The CA aims to establish a framework for Fintech collaboration between… Read More

Singapore Develops Platform that Allows Residents to Consolidate their Financial Data

Singapore has introduced a data exchange platform that allows residents to consolidate their financial data which may be stored across several different databases belonging to various government agencies and banks. The data exchange solution has been developed by local government agencies, including the Monetary Authority… Read More

Monetary Authority of Singapore Announces that Non-Bank Financial Institutitions May Access Retail Payments Infrastructure

The Monetary Authority of Singapore (MAS), the nation’s reserve bank and financial regulator, has revealed that eligible non-bank financial institutions (NFIs) will be able to gain direct access to the banking system’s retail payments infrastructure starting from February of next year. NFIs that are authorized to… Read More

FATF Travel Rule Solution Sygna Bridge Completes Assessment by Association of Cryptocurrency Enterprises and Startups, Singapore

Sygna Bridge, the “market-ready” solution developed for Virtual Asset Service Providers (VASPs) to fulfill the Financial Action Task Force (FATF) Recommendation 16’s “Travel Rule,” has reportedly become the very first FATF Travel Rule solution to go through an independent assessment by The Association of Cryptocurrency… Read More

Monetary Authority of Singapore Launches $18.6 Million Productivity Solutions Grant for Financial Services Sector

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has launched a S$35 million (appr. $18.62 million) Productivity Solutions Grant (PSG) for the country’s financial services industry. The grant will be used to offer assistance to smaller financial institutions. It will… Read More

Open Banking Developments in Singapore May lead to More Transformative Fintech Changes that those Offered by Digital Banking

Open Banking developments in Singapore could lead to more changes in traditional banking processes than those that involve digital banking and related infrastructure upgrades. Singapore’s addressable loan market for digital banks is valued at around S$220 and S$243 billion, according to estimates from the Fintech… Read More

Chartered Fintech Professional Qualification will be Offered to Financial Tech Employees Working in China and Singapore

A Chartered Fintech Professional (CFtP) qualification will reportedly be offered to financial technology specialists working in China and Singapore. The program will aim to provide  professional development opportunities that are meant to support international Fintech talent. The qualification will reportedly be introduced by the Global… Read More

Fintech Firms in Singapore Secure Record High $462 Million in Equity Funding, and $650 Million in Total during H1 2020

Singapore’s Fintech firms continue to attract substantial investments, despite the global COVID-19 outbreak and resulting socio-economic challenges. Singapore Fintechs have been able to secure a total of $650 million in capital so far this year, which notably includes a record high of $462 million in… Read More

AMTD and Xiaomi Finance to Provide $3.6 Million to Support Fintech Leadership Program with Guidance from Local Academic Institutions

AMTD Group (NYSE: HKIB; SGX: HKB), an integrated, licensed, comprehensive, non-bank financial institution group that offers several different financial services, has introduced a Fintech leadership program. The Singapore Management University (SMU), the Institute of Systems Science at the National University of Singapore (NUS-ISS), and Xiaomi… Read More

Five Digital Banking License Applicants in Singapore May have to Revisit their Business Plans, as MAS to Hold Discussions with Bidders

  Five companies that had applied for a digital banking license in Singapore will now have to assess how the COVID-19 outbreak and resulting challenges will affect their ability to acquire adequate funding. As first reported by Reuters, the applicants will also have to revisit… Read More

Kenneth Bok: Head of Growth and Strategy at Zilliqa, a Major Blockchain Platform, Talks About Major Stablecoin Use Cases

Kenneth Bok, head of growth and strategy at Zilliqa, an established blockchain project that provides infrastucture to StraitsX, a stablecoin initiative introduced by the Fintech payments provider Xfers, recently shared his views and insights with Crowdfund Insider. Xfers is accredited by the Monetary Authority of… Read More

AMTD Digital, the Digital Finance Unit of AMTD Group, to Acquire Controlling Stake in PolicyPal

AMTD Digital, the digital finance division of AMTD Group, has revealed that it will be acquiring a controlling stake in PolicyPal, a firm that’s licensed by the Monetary Authority of Singapore (MAS). PolicyPal is notably the first graduate of MAS’s Fintech regulatory sandbox program. The… Read More

China’s Zall Smart Commerce Group to Establish Operatins in Singapore, as Part of Group Applying for Digital Banking License

Chinese e-commerce company Zall Smart Commerce Group will establish operations in Singapore’s evolving financial industry. Zall’s management noted that the firm is part of a consortium that’s applying for a digital wholesale banking license in Singapore. Global eTrade Services, a CrimsonLogic Pte division, and Marubeni… Read More

Ride-hailing Service Provider Grab to Partner One of Singapore’s Largest Telecom Firms, Singtel, to Acquire Digital Full Bank License

Non-financial firm ride-hailing service provider Grab confirmed on December 29 that it is partnering with one of Singapore’s largest telecommunication companies, Singtel, in order to acquire a digital full bank license in the Asian country. Singapore is currently accepting applications for a licenses to establish… Read More

Monetary Authority of Singapore to Extend Additional Funding to Fintech Projects in 2020

The central bank of Singapore is preparing to extend additional funding for Fintech-related projects, because the five-year investment round ending in March has led to positive developments. The Monetary Authority of Singapore (MAS) will most likely announce additional funding plans in 2020, with key investments… Read More

Monetary Authority of Singapore’s Chief Fintech Officer Appointed Fintech Advisor to India’s Odisha State

The Monetary Authority of Singapore (MAS), the nation’s central bank, announced on Thursday the appointment of its chief fintech officer Sopnendu Mohanty as a digital and fintech advisor to India’s Odisha state, according to a report by the Times of India. In his new advisory… Read More

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