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MAS promises USD 75 million for advancing quantum and AI

News | Online & Mobile Banking | 18 Jul 2024

The Monetary Authority of Singapore (MAS) has announced its commitment to provide nearly USD 75 million to advance quantum and AI features in the financial landscape. 

quantum computing, artificial intelligence, financial services, financial institutions, fintech

XTransfer receives payment licence from MAS

News | Online Payments | 16 Jul 2024

XTransfer has received in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution Licence.

MPI licence, financial services, cross-border payments, e-money

Singaporean banks to safeguard against phishing

News | Digital Identity, Security & Online Fraud | 15 Jul 2024

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have announced that banks in the region plan to better protect customers against phishing. 

phishing, scam, online security, cybersecurity, financial services, digital banking

Fave Singapore obtains MAS approval for MPI licence

News | Payments General | 11 Jul 2024

Fave Singapore, a subsidiary of Pine Labs, has secured in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence.

banking license, merchant, money transfer, transactions , banks

Banks in Singapore to drop OTPs in favour of digital tokens

News | Digital Identity, Security & Online Fraud | 10 Jul 2024

The Monetary Authority of Singapore and the Association of Banks in Singapore have announced that digital tokens are increasingly adopted in favour of One-Time Passwords.

scam, fraud prevention, phishing, security token, cybersecurity

Paxos gets MAS approval to issue stablecoins in Singapore

News | Cryptocurrencies | 03 Jul 2024

Paxos has announced that its subsidiary, Paxos Digital Singapore, has received approval from the Monetary Authority of Singapore (MAS) to issue stablecoins.

stablecoin, banking license, digital payments, tokenization

BIS Innovation Hub and MAS develop climate risk platform blueprint

News | Digital Identity, Security & Online Fraud | 17 Jun 2024

The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) have unveiled a blueprint integrating regulatory and climate data for financial stability.

climate, ESG, data, carbon footprint, financial services

Bank of Ghana completes cross-border trade using digital credentials

News | Cryptocurrencies | 14 Jun 2024

The Bank of Ghana has announced the successful completion of cross-border trade using digital credentials, in collaboration with the Monetary Authority of Singapore

partnership, product launch, cryptocurrency, crypto, crypto asset, payments

HitPay obtains MPI licence from MAS

News | Payments General | 06 Jun 2024

Singapore-based commerce platform for SMEs HitPay has announced that it received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS).  

MPI licence, cross-border payments, SMEs, compliance, online security, online payments

Qashier secures MAS approval for payment license

News | Payments General | 25 Apr 2024

Singapore-based fintech startup Qashier has received in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution (MPI) license.

startup, fintech, regulatory sandbox, digital payments, cross-border payments

MAS introduces amendments to the Payment Services Act

News | Cryptocurrencies | 03 Apr 2024

The Monetary Authority of Singapore (MAS) has announced amendments to the Payment Services Act (PS Act) and its subsidiary legislation.

regulation, payments , digital payments, digital assets, compliance

MAS launches its COSMIC platform

News | Digital Identity, Security & Online Fraud | 01 Apr 2024

The Monetary Authority of Singapore has launched its COSMIC platform to combat money laundering, terrorism financing, and proliferation financing around the world.

product launch, partnership, fraud management, fraud detection, fraud prevention, identity fraud, financial crime, AML

HitPay to secure MPI licence in Singapore

News | Payments General | 26 Feb 2024

Singapore-based commerce platform for SMEs HitPay has secure in-principle approval for an MPI licence from the Monetary Authority of Singapore.

MPI licence, expansion, payments , compliance

Singapore and China expand financial cooperation

News | Online & Mobile Banking | 07 Dec 2023

The Monetary Authority of Singapore (MAS) has announced additional digital finance and capital markets proposals to expand its financial cooperation with China.  

online banking, green finance, trade finance, digital banking, remittances

MAS and BNM launch cross-border real-time payment tool

News | Online & Mobile Banking | 20 Nov 2023

The Monetary Authority of Singapore and Bank Negara Malaysia have partnered to launch a cross-border real-time payment system connectivity between PayNow and DuitNow.

partnership, product launch, cross-border payments, cross-border ecommerce, P2P, P2P payments, ecommerce, banking, financial services, financial institutions

Indonesia, Singapore launch cross-border QR payment linkage

News | Mobile Payments | 20 Nov 2023

Bank of Indonesia (BI) and the Monetary Authority of Singapore (MAS) have announced the launch of the cross-border quick response (QR) payment linkage between Indonesia and Singapore.

QR code, QR payments, product launch, cross-border payments, cross-border ecommerce

Temenos collaborates with MAS

News | Online & Mobile Banking | 17 Nov 2023

Switzerland-based Temenos has announced a partnership with Gprnt, the Monetary Authority of Singapore’s (MAS) new integrated digital platform.

partnership, digital banking, ESG, carbon footprint, KYC, sustainability

MAS is working with the financial industry to support asset tokenization

News | Cryptocurrencies | 16 Nov 2023

The Monetary Authority of Singapore (MAS) has disclosed its collaboration with the financial industry to advance initiatives related to asset tokenization.

digital assets, tokenization, partnership, product launch

BIS and three central banks test cross-border wholesale CBDCs

News | Payments General | 28 Sep 2023

The Bank for International Settlements (BIS) and the central banks of France, Singapore, and Switzerland have successfully tested cross-border wholesale CBDCs.

partnership, CBDC, cross-border payments, banks, financial institutions, FX , wholesale banking, blockchain, payments infrastructure, tokenization, digital currency

Payoneer Singapore receives a MPI licence from the MAS

News | Payments General | 16 Aug 2023

Payoneer’s subsidiary in Singapore has received a Major Payment Institution licence from the Monetary Authority of Singapore (MAS).

payments , regulation, MPI licence, expansion