Tagged: singapore

August 3, 2024 @ 5:18 pm By Michael Wong  |  

National Pulse, a Dubai-based tech-driven enterprise, has strategically invested in Singaporean Fintech firm Aleta Planet to enhance cross-border payment services in the Middle East. This move aligns with the UAE’s recent push towards open finance and the adoption of digital services, according to the announcement…. Read More

July 25, 2024 @ 9:59 am By JD Alois  |  

Described as a “landmark” event, the European Union (EU) and Singapore have inked a Digital Trade Agreement (DTA). The EU states that the goal is to emerge as a global standard setter for digital trade rules. The DTA is said to complement the existing 2019… Read More

July 24, 2024 @ 11:00 am By Omar Faridi  |  

  We recently connected with Kelvin Tan, CEO of audax, a corporate venture backed by Standard Chartered Bank. Before transitioning to a full-time career as an entrepreneur, Kelvin held multiple roles at Standard Chartered Bank — from Transaction Banking to Retail Products and Payments to… Read More

July 20, 2024 @ 12:17 pm By Michael Wong  |  

Arta Finance, a US-headquartered digital family office for accredited investors, has secured approval to launch in Singapore, aiming to open its platform to Singaporean residents and other investors later this year. This move follows a significant expansion of Arta’s product offerings and team of industry… Read More

July 19, 2024 @ 8:34 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) announced an additional commitment of S$100 million (about $74 million) under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0). This funding aims to bolster financial institutions in developing quantum and artificial intelligence (AI) capabilities and foster the… Read More

July 15, 2024 @ 4:30 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced a significant shift in security protocols for major retail banks. Over the next three months, banks will gradually discontinue using One-Time Passwords (OTPs) for customers who use digital tokens, a… Read More

July 10, 2024 @ 6:16 pm By Omar Faridi  |  

Fave Singapore, operating under the registered entity name Beeconomic Singapore Pte. Ltd. and part of the Pine Labs group today announced that it has received an in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) Licence to offer account… Read More

July 9, 2024 @ 9:14 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) have announced that major retail banks in Singapore will progressively phase out the use of One-Time Passwords (OTPs) for bank account login by customers who are digital token users within the… Read More

July 2, 2024 @ 12:38 pm By Omar Faridi  |  

Paxos, the regulated blockchain & tokenization infrastructure platform, received full approval from the Monetary Authority of Singapore (MAS) for its Singapore entity, Paxos Digital Singapore Pte. Ltd. to “offer digital payment token services as a Major Payments Institution.” The approval enables Paxos to “issue stablecoins… Read More

June 29, 2024 @ 4:01 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) announced a significant expansion in its asset tokenization initiatives, aiming to set industry-wide standards across various financial sectors, including fixed income, foreign exchange (FX), and asset & wealth management. The announcement includes the successful completion of the first phase… Read More

June 23, 2024 @ 11:48 am By Omar Faridi  |  

Amid increasing positive sentiment about the business climate1, Airwallex has launched its ‘Airwallex for Startups’ program in Singapore to further empower the city-state’s community of over 55,000 startups. The program aims to empower startups “to grow and scale their businesses, offering them tips and tools… Read More

June 19, 2024 @ 9:35 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) announced the start of the Financial Transparency Corridor (FTC) initiative between Singapore and Cambodia. The FTC commemoration event was “held at Istana, Singapore, and was presided over by Lawrence WONG, Prime Minister… Read More

June 15, 2024 @ 9:12 pm By Michael Wong  |  

Qiro Finance, a Singapore-headquartered decentralized finance (DeFi) startup founded by Akshay Poshatwar and Nishikant Bahalkar, announced a successful $1.2 million funding round to develop a decentralized credit protocol aimed at bridging the significant credit gap in emerging markets. The startup said it is innovating at… Read More

June 14, 2024 @ 7:00 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have developed a blueprint for a platform that integrates regulatory and climate data to help financial authorities identify, monitor and manage climate risks in the financial system. Integrating climate risk analysis into… Read More

June 3, 2024 @ 11:41 pm By Omar Faridi  |  

Singapore recently released the Environmental Crimes Money Laundering (ML) National Risk Assessment (NRA) which identifies the key threats and vulnerabilities in environmental crimes ML that Singapore “is exposed to, and outlines mitigation measures which government agencies, financial institutions (FIs) and Designated Non-Financial Businesses and Professionals… Read More

May 23, 2024 @ 10:24 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) discussed initiatives to advance cooperation in green and transition finance between China and Singapore at the 2nd China-Singapore Green Finance Taskforce (GFTF) meeting held on 20 May 2024. The initiatives discussed covered… Read More

May 21, 2024 @ 8:40 am By Michael Wong  |  

Osome, a Singapore-based financial administration platform catering to founders and small and medium-sized businesses (SMBs), has raised over $17 million in its Series B funding round which was a combination of equity and debt financing. The round saw participation from both new and existing investors…. Read More

May 21, 2024 @ 3:12 am By Omar Faridi  |  

Anchorage Digital Singapore is pleased to be the “first” crypto custodian to announce compliance with Singapore digital asset custody regulation by receiving an exemption in respect to its digital payment token (DPT) custody service from the Monetary Authority of Singapore (MAS). The exemption as set… Read More

May 19, 2024 @ 10:39 am By Omar Faridi  |  

Private market exchange ADDX Pte. Ltd., regulated by the Monetary Authority of Singapore, has launched the blockchain-based ADDX Fixed Income Marketplace and pioneered a Multi-Issuer Debt Issuance Program for companies to conveniently issue digitized commercial paper and bonds. The Digitized Bonds are expected to “be… Read More

May 8, 2024 @ 10:24 am By JD Alois  |  

Singapore and the United Kingdom have enhanced their existing relationship in regard to Fintech development and utilization. The UK is the top western Fintech hub and Singapore represents the most robust Fintech center in Asia. The initiative was led by HM Treasury and the Monetary… Read More