The Monetary Authority of Singapore (MAS) announced that a Review Group has been set up to recommend measures to strengthen equities market development in Singapore. The Review Group will be chaired by Mr Chee Hong Tat, Minister for Transport, Second Minister for Finance and Board… Read More
Read more in: Asia, Politics, Legal & Regulation | Tagged mas, monetary authority singapore, singapore
Blockchain.com, a leading crypto wallet provider, digital asset trading platform, and block explorer service provider, recently revealed that it has “secured an in-principle approval for the Major Payment Institution License offering Digital Payment Token services from the Monetary Authority of Singapore (MAS).” With this preliminary… Read More
Read more in: Blockchain & Digital Assets, Asia, Politics, Legal & Regulation | Tagged blockchain.com, crypto trading, crypto-assets, digital assets, digital currency, in-principle approval, major payment institution license, mas, monetary authority singapore, peter smith, singapore, southeast asia, virtual currencies
The team at Coinhako is pleased to confirm that their firm has been granted the Monetary Authority of Singapore’s (MAS) official approval “for a Major Payment Institution (MPI) license.” Securing the full license means that the firm will be able “to legally operate as regulated… Read More
Read more in: Asia, Blockchain & Digital Assets, Politics, Legal & Regulation | Tagged coinhako, crypto-assets, digital assets, gerry eng, major payment institution, mas, monetary authority singapore, operational license, singapore, southeast asia
Digital currency exchange Independent Reserve revealed on Monday (August 2, 2021) that it had acquired an “in-principle approval” letter for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PSA) “to operate as a regulated… Read More
Read more in: Asia, Blockchain & Digital Assets, Investment Platforms and Marketplaces | Tagged adrian przelozny, australia, crypto trading, crypto-assets, digital assets, digital currency, mas, monetary authority singapore, operational licenses, otc trading, singapore, southeast asia, vasps, virtual currencies
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
Read more in: Asia, Blockchain & Digital Assets, Fintech | Tagged carl wegner, digital financial services, digital infrastructure, financial services, innovation lab, mas, monetary authority singapore, singapore, sopnendu mohanty, southeast asia, trade finance
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
Read more in: Global, Asia, General News, Politics, Legal & Regulation | Tagged fraudulent activities, gamestop, mas, monetary authority singapore, singapore, southeast asia, united states, us
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
Read more in: Asia, Blockchain & Digital Assets | Tagged asset tokenization, compliance, custody solutions, digital assets, digital securities, distributed ledger technology, dlt, mas, monetary authority singapore, propine, security token, security tokens, singapore, southeast asia, tokenization, tuhina singh, zilliqa
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
Read more in: Fintech, Asia | Tagged asean, asean region, bank of thailand, fintech adoption, mas, monetary authority of singapore, monetary authority singapore, pwc, ravi menon, singapore, singapore fintech association, southeast asia, survey, survey report, thailand, uob
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
Read more in: Fintech, Asia, Global | Tagged central bank, europe, fintech adoption, hungary, magyar nemzeti bank, mas, monetary authority of singapore, monetary authority singapore, reserve bank, singapore, sopnendu mohanty, southeast asia
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
Read more in: Fintech, Asia | Tagged data exchange, data-sharing, digital identity, financial data, financial planning, mas, monetary authority of singaore, monetary authority singapore, money management, ravi menon, singapore, singpass
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
Read more in: Asia, Fintech, Politics, Legal & Regulation | Tagged abs, digital wallet, digital wallets, e-wallets, lawrence chan, mas, monetary authority singapore, non bank financial institutions, online wallets, ravi menon, real-time payments, retail payments, 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
Read more in: Blockchain & Digital Assets, Asia, Politics, Legal & Regulation | Tagged access, coolbitx, crypto-assets, digital assets, fatf, financial action task force, mas, michael ou, monetary authority singapore, payment services act, psa, singapore, sygna bridge, vasps, virtual asset service providers, virtual assets
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
Read more in: Asia, Fintech | Tagged digital technology, mas, monetary authority of singaore, monetary authority singapore, singapore, sopnendu mohanty
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
Read more in: Asia, Fintech | Tagged afin, api integration, apis, APIX, ASEAN Financial Innovation Network, data-sharing, financial data, mas, monetary authority singapore, open banking, 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
Read more in: Fintech, Asia | Tagged amtd, amtd group, china, fintech courses, mas, monetary authority singapore, professional development, professional training, singapore, sopnendu mohanty
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
Read more in: Asia, Fintech | Tagged equity funding, Fintech funding, mas, mergers and acquisitions, monetary authority singapore, singapore, sopnendu mohanty
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
Read more in: Fintech, Asia | Tagged amtd, amtd group, calvin choi, mas, monetary authority singapore, singapore
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
Read more in: Asia, Fintech | Tagged central bank, coronavirus, covid-19, digital bank, digital bank license, digital banking, mas, monetary authority singapore, reserve bank, singapore
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
Read more in: Blockchain & Digital Assets, Asia, Featured Headlines, Fintech | Tagged cbdcs, central bank digital currencies, cross-border payments, crypto-assets, digital assets, distributed ledger technology, dlt, interview, kenneth bok, mas, monetary authority singapore, remittances, singapore, stablecoins, xfers, xsgd, zilliqa
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
Read more in: Asia, Fintech, Global, Insurtech | Tagged amtd, amtd group, digital bank, digital banking, hong kong, malaysia, mas, monetary authority singapore, online banking, singapore
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