Tagged: singapore

April 14, 2020 @ 8:27 am By Samantha Hurst  |  

Apifiny, a digital asset marketplace that seeks to enable institutional trading across multiple regulated exchanges, announced on Tuesday it has been granted an exemption by the Monetary Authority of Singapore (MAS) from holding a license under that country’s Payment Services Act (PSA). Founded in 2019, Apifiny describes itself… Read More

April 13, 2020 @ 10:31 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has published an FAQ in regards to the new Payment Services Act. The Payment Services Act has gone through a consultation process with MAS responding in December 2019. The FAQ is meant to provide guidance on the licensing and… Read More

April 13, 2020 @ 9:22 am By JD Alois  |  

Governments around the world are scrambling to backstop halted economies impacted by the ongoing COVID-19 pandemic. Just weeks ago, the global economy was full speed ahead but today with lockdowns, social distancing and face mask requirements in place, businesses are closed and everyone is suffering…. Read More

April 10, 2020 @ 10:27 am By Omar Faridi  |  

Companies and institutions that may have applied for a digital banking license in Singapore will now have to wait longer in order to find out if their application was approved. The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has confirmed… Read More

April 10, 2020 @ 7:52 am By Omar Faridi  |  

Fintech firm Razer, an established global lifestyle brand for gamers, has announced that it will be supporting its business partners, following the Coronavirus (COVID-19) outbreak and resulting economic challenges. Razer has reportedly committed to allocating up to $50 million this year. The funds will be… Read More

April 9, 2020 @ 9:18 pm By Omar Faridi  |  

AMTD International (NYSE: HKIB; SGX: HKB), which is part of the AMTD Group, an established Asian financial services conglomerate, has confirmed its secondary listing on the Mainboard of the Singapore Exchange Securities Trading Ltd (the “SGX-ST”) under the ticker “HKB.” AMTD International’s listing notably marks… Read More

April 9, 2020 @ 9:00 am By JD Alois  |  

Digital asset lending company BlockFi has received a strategic investment from Three Arrows Capital (TAC) via a secondary transaction, according to the company. Three Arrows Capital is a crypto hedge fund manager that focuses on emerging markets. TAC has reportedly been providing greater risk-adjusted returns… Read More

April 9, 2020 @ 7:17 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has introduced a $125 million support package, in order to support local financial service providers and Fintech companies, following the Coronavirus (COVID-19) outbreak, and resulting economic instability. The MAS noted that $90… Read More

April 7, 2020 @ 8:00 pm By JD Alois  |  

Propine Seeks to Power the Future of Digital Assets Singapore has long been a leader in Fintech. Innovative financial services have benefited from a supportive regulatory regime and an entrepreneurial population. Singapore is also a highly business-friendly, low tax jurisdiction and has emerged as a… Read More

April 6, 2020 @ 1:32 pm By Xu Gao  |  

Risk Alert against the Hype of Overseas Virtual Currency Exchanges Back in 2017, the People’s Bank of China (PBC), Cyberspace Administration of China and other 5 ministries published the “Notice on Guarding against Risks of ICOs”, stipulating that virtual currency trading and ICOs are illegal… Read More

April 4, 2020 @ 4:33 pm By Omar Faridi  |  

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

April 3, 2020 @ 10:34 am By Samantha Hurst  |  

Global financial services giant JPMorgan recently announced it has established an electronic foreign exchange (FX) trading and pricing engine in Singapore. The launch was notably launched with support from the Monetary Authority of Singapore (MAS). JPMorgan reported that the new trading engine, which was first… Read More

April 2, 2020 @ 9:33 pm By Omar Faridi  |  

Singapore-based Smartly, a Robo-advisory platform, is reportedly planning to close down its business operations, due to intense competition in the wealth management and technology (Wealthtech) industry. Established in 2015 and acquired in 2019 VinaCapital, a Vietnamese investment management company, Smartly’s management has been struggling  to… Read More

March 30, 2020 @ 9:27 am By Samantha Hurst  |  

Singapore-based global cryptocurrency exchange KuCoin recently announced the launch of its new project “Project Pinocchio” together with 21 blockchain institutions from around the world. KuCoin describes Project Pinocchio as a neutral and credible alert platform for less trustworthy projects in the cryptocurrency industry. The platform… Read More

March 30, 2020 @ 8:01 am By Omar Faridi  |  

Yves Roesti, Sean Huang, Xuna Shao and Joshua Choy from Synpulse, a financial services consulting company, point out that most digital banks were launched without physical branch locations. What makes neobanks stand out from incumbents is their ability to leverage technology to differentiate their product… Read More

March 26, 2020 @ 8:00 pm By Omar Faridi  |  

Delta Capita, a financial services consulting company, has acquired $50 million in capital from Prytek Holdings, a Singapore-based venture capital firm. As noted on Delta Capita’s official website: “We work with the world’s [largest] financial institutions to help them comply with regulations, simplify operations, reduce… Read More

March 26, 2020 @ 6:55 pm By Omar Faridi  |  

Delta Exchange, a crypto asset derivatives exchange, reports that it has maintained a stable monthly trading volume of $400-$500 million. Delta Exchange’s management revealed on March 3, 2020, that they’re introducing their options products, including BTC-MOVE and ETH-MOVE contracts. Delta Exchange is reportedly the first… Read More

March 26, 2020 @ 6:31 pm By Omar Faridi  |  

Singapore-based Fintech company MatchMove has partnered with local finance firm, Singapura Finance Ltd., and two others, in order to apply for a virtual banking license in the city-state. The MatchMove-led consortium is the most recent group to reveal that it has filed an application for… Read More

March 25, 2020 @ 8:51 pm By Omar Faridi  |  

Nearly 65% of Singapore residents say they would consider working with an all-digital bank, according to the recently published Visa Consumer Payment Attitudes Study. The study reveals that 84% of Singapore-based respondents said that they’d be willing to use virtual banking services offered by an… Read More

March 24, 2020 @ 11:34 pm By Omar Faridi  |  

Big Data and artificial intelligence firm ADVANCE.AI aims to assist businesses based in Asia with their digital transformation strategies. ADVANCE.AI is expanding its business operations into India by establishing business offices in Bangalore and New Delhi. The Singapore-headquartered firm also intends to open an office… Read More