Tagged: singapore

Digital Assets Firm OKX Obtains In-Principle Approval for Major Payment Institution License from MAS

OKX has reportedly secured an in-principle approval for a Major Payment Institution (MPI) License from the Monetary Authority of Singapore (MAS). OKX claims that it is “among the most trusted crypto platforms in the world.” OKX‘s management notes that millions of customers feel safe accessing… Read More

UK Fintech Currencycloud Obtains In-Principle Approval for Major Payment Institution License Holder from MAS

Currencycloud, a Visa solution and the specialists in simplifying business in a multi-currency world, has obtained an In-Principle Approval (IPA) for a Major Payment Institution (MPI) license holder from the Monetary Authority of Singapore (MAS). The license will allow Currencycloud to “provide a full suite… Read More

Singapore’s Nium Secures Funds Transfer License in Japan

Nium, a real-time cross-border payments firm based in the United States and Singapore, has achieved a significant milestone by becoming the first non-Japanese company to be granted a Type 1 Funds Transfer Service Provider (FTSP) license by the Japanese Financial Services Agency (JFSA). The license… Read More

HashKey Obtains In-Principle Approval from MAS for Major Payment Institution License Application

HashKey Technology Services Pte. Ltd., the over-the-counter trading arm of HashKey Group, has received in-principle approval from the Monetary Authority of Singapore for its Major Payment Institution licence application to provide digital payment token services. The in-principle approval from the MAS, which is described as… Read More

New Partnership Elevates Singapore’s Insurtech Education

Insurtech industry player The Digital Insurer (TDI) has partnered with the Singapore College of Insurance (SCI) to introduce the GenAI Explorer Program, an innovative venture designed to usher in a new era for the insurance sector through the application of generative AI technology. This exclusive… Read More

Helicap, Danamon Forge Strategic Partnership to Boost FinTech, Alternative Lending in Indonesia

Fintech player Helicap Pte Ltd has partnered with PT Bank Danamon Indonesia Tbk (Danamon) to establish the duo as a pivotal source of non-dilutive growth capital for fintech companies, alternative lending firms, and micro, small, and medium enterprises (MSMEs) across various sectors, including supply chain,… Read More

Singapore to Invest Over $743 Million in AI in Five Years

Singapore has announced a major investment in artificial intelligence (AI), with more than $1 billion earmarked over the next five years to propel the city-state to new heights in AI development. Deputy Prime Minister Lawrence Wong, who also serves as the Minister for Finance, unveiled… Read More

XTransfer, the Cross-Border Trade Payment Platform, Announces Key Milestone in Partnership with Deutsche Bank

XTransfer, the B2B cross-border trade payment platform, announces a key milestone in its partnership with Deutsche Bank. Deutsche Bank has executed XTransfer’s first onshore Thai Baht (THB) trade in Thailand, “leveraging the latest version of the Bank of Thailand‘s Non-Resident Qualified Company (NRQC) rules.” Under… Read More

Colt Technology Services Announces Completion of PoC Utilizing Singapore Exchange Group’s Derivatives Data

Colt Technology Services, the digital infrastructure company, announced the successful completion of a three-month Proof of Concept utilizing Singapore Exchange (SGX Group)’s Derivatives data, showcasing how Market Data in the Cloud, Colt’s Multicast Raw Market data distribution service for Capital Markets, is “unlocking the full… Read More

Enforcement Actions Issued to Financial Institutions Reached “Staggering” Levels Last Year – Report

The number of enforcement actions issued to global financial institutions in 2023 “reached staggering levels that have rarely been seen in the US,” according to SteelEye’s Annual Fine Tracker. SteelEye analyzed financial penalties issued “by the US Securities and Exchange Commission (SEC) and Commodity Futures… Read More

Singapore’s GB Helios Marks Four Years of Working with Cloud Banking Fintech Mambu

GB Helios (formerly known as Goldbell Financial Services), an innovative Singaporean financial solutions provider, is marking four years of working with cloud banking platform Mambu, with the partnership instrumental in enabling GB Helios “to achieve rapid growth and deliver exceptional customer experiences.” Since partnering with… Read More

BitGo Obtains In-Principle Approval from Monetary Authority of Singapore for Major Payment Institution License

BitGo will reportedly offer regulated digital payment token services in Singapore. BitGo says that it views Singapore as an “important hub” for digital asset innovation. BitGo, the provider of financial services for digital assets, confirmed recently that its subsidiary in Singapore, BitGo Singapore Pte. Ltd.,… Read More

Monetary Authority of Singapore Imposes Civil Penalty of $3.9M on Credit Suisse AG for Alleged Misconduct by Relationship Managers

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $3.9 million on Credit Suisse AG, for its alleged failure “to prevent or detect misconduct by its relationship managers (RMs) in the Singapore branch.” The RMs had allegedly provided clients “with inaccurate or… Read More

WorldCoin Update: World ID Verifications Now Available in Singapore via the Orb

After the launch of World ID 2.0 and the open sourcing of the Worldcoin iris recognition pipeline in mid December, World ID verifications are now “available in Singapore via the Orb, the project’s custom hardware device.” A full list of verification locations is available on… Read More

Singapore’s Whampoa Digital, Wemade to Establish $100M Web3 Fund to Support Crypto-Asset Initiatives in Middle East

Singapore-based Whampoa Digital and Wemade, a Korean gaming company, have entered into a strategic partnership to collaborate on a US$100 million Web3 Fund to be established by Wemade as well as on digital asset initiatives in the Middle East. As part of this collaboration, Whampoa… Read More

Crypto.com Signs MoU with Charities in Singapore to Enable Donations in Digital Assets

Crypto.com, which claims to be “trusted” by more than 80 million customers worldwide and says it is the supporter of regulatory compliance, security and privacy, signed a Memorandum of Understanding (MOU) with six major charities in Singapore in order “to help facilitate the acceptance of… Read More

Insurtech: Sumitomo Life to Acquire Singapore Digital Insurer Singlife

Sumitomo Life Insurance Company (Sumitomo Life) has agreed to acquire all shares of Singapore digital insurer Singlife held by TPG, which currently owns about 35% of the insurtech firm. Furthering its investment, Sumitomo Life plans to extend offers to purchase shares from the remaining shareholders… Read More

HashKey Capital Obtains Capital Markets Services License from Monetary Authority of Singapore

HashKey Capital Singapore Pte. Ltd., a key player focused on the blockchain and digital asset investment space, is pleased to announce the successful acquisition of the Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). The CMS license, granted by the MAS,… Read More

Regtech Firm Sumsub Joins Singapore FinTech Association

Sumsub has joined the Singapore FinTech Association (SFA). This collaboration signifies Sumsub’s dedication “to driving innovation, fostering key industry connections, and contributing to the vibrant FinTech landscape in Singapore, as well as the wider APAC market following the establishment of its regional headquarters in Singapore… Read More

Singapore, China Enhance Digital Finance Cooperation

The Monetary Authority of Singapore (MAS) has announced a series of new initiatives in digital finance and capital markets, aimed at strengthening financial cooperation with China. These initiatives were unveiled at the 19th Joint Council for Bilateral Cooperation (JCBC) in Tianjin, co-chaired by Singapore Deputy… Read More

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