Articles with tag: monetary authority

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Monetary Authority of Singapore to fully regulate all crypto-related activity

News | Cryptocurrencies | 11 Jan 2021

Following an amendment passed on January 4, 2021, all cryptocurrency service providers must now obtain a license from the Monetary Authority of Singapore (MAS), the country’s financial regulatory body.

Monetary Authority of Singapore, MAS, AML, cross-border payments, cryptocurrency trading, crypto exchange, Singapore

Singapore and Hungary strengthen cooperation in fintech

News | Payments General | 09 Dec 2020

The Monetary Authority of Singapore (MAS) and the Magyar Nemzeti Bank (MNB) today signed a Co-operation Agreement (CA) to strengthen cooperation in fintech innovation between Singapore and Hungary. 

The Monetary Authority of Singapore, Magyar Nemzeti Bank, fintech

UNDP, MAS partner to help SMEs in developing countries to access global opportunities

News | E-invoicing, SCF & E-procurement | 08 Dec 2020

The United Nations Development Programme (UNDP) Global Centre for Technology, Innovation, and Sustainable Development has partnered with the Monetary Authority of Singapore (MAS) to help SMEs leverage technology to better access global value chains. 

UNDP, MAS, SME, developing countries, United Nations Development Programme, Monetary Authority of Singapore, Cultiv@te, Business sans Borders, API Exchange, APIX

Singapore's government launches blockchain innovation programme

News | E-invoicing, SCF & E-procurement | 07 Dec 2020

A group of Singaporean government agencies has announced it is launching a new research program for blockchain technology with about USD 8.9 million USD in funding.

Singapore, blockchain, SBIP, Enterprise Singapore, Infocomm, National Research Foundation, Monetary Authority, trade, supply chain finance, crypto, central bank

BNP Paribas launches the Sustainable Supply Chain Finance Framework

News | E-invoicing, SCF & E-procurement | 01 Dec 2020

BNP Paribas has developed a KPI matrix to promote sustainable practices in corporate supply chains under the new scheme announced by the Monetary Authority of Singapore.

BNP Paribas, Singapore, product launch, Sustainable Supply Chain Finance Framework, SCF, Monetary Authority, Green and Sustainability Linked Loan Grant Scheme, MNCs, supply chain,

UOB expands its Green Infrastructure Financing Framework

News | E-invoicing, SCF & E-procurement | 26 Nov 2020

Singapore-based UOB has announced the expansion of its Green Infrastructure Financing Framework to provide sustainable financing to companies in the infrastructure sector.

UOB, Green Infrastructure Financing Framework, SCF, Monetary Authority of Singapore, Loan Grant Scheme, sustainable financing, trade finance, banking

Monetary Authority of Singapore to adopt enhanced Financial Action Task Force standards

News | Digital Identity, Security & Online Fraud | 11 Nov 2020

The Monetary Authority of Singapore (MAS) has recently proposed amendments to the Payment Services Act (PS Act).

Monetary Authority of Singapore, MAS, Payment Services Act, VASPs, AML, FATF, crypto providers, virtual assets, Singapore

Maldives Monetary Authority to implement instant payments with TietoEVRY

News | Online Payments | 04 Nov 2020

Maldives Monetary Authority (MMA) has signed an agreement with Finland-based IT solutions provider TietoEVRY, to implement an Instant Payments System in the Maldives. 

Maldives Monetary Authority, TietoEvry, partnership, Maldives, instant payments, Maldives Payment System Development Project, online payments, Instant Payments System, PSP, Asia, APAC

HKMA showcases 2-year roadmap to promote regtech adoption

News | Payments General | 03 Nov 2020

The Hong Kong Monetary Authority (HKMA) has developed a two-year roadmap to promote regtech adoption in the Hong Kong banking sector.

Hong Kong, Monetary Authority, HKMA, regtech, banking

Underserved SMEs consider switching to digital banks, Visa study

News | Online & Mobile Banking | 29 Oct 2020

Visa has released a 2020 study on Digital Banking and SMEs in Singapore, showing 88% of Singapore-based SMEs considering switching some services to digital banks.

Visa, study, SME, digital banks, Singapore, Monetary Authority of Singapore, MAS, banking, online banking

Wirecard to cease payment services in Singapore, MAS directive

News | Online Payments | 02 Oct 2020

The Monetary Authority of Singapore (MAS) has directed Wirecard entities to cease their payment services in Singapore, according to straitstimes.com.

MAS, Wirecard, payment services, Singapore, payment services, Monetary Authority of Singapore, customer funds, Germany, digital payments, bankruptcy, bank accounts, Phillipines, APAC, Asia Pacific, Pasir Panjang, Wirecard SG, merchants, e-payments, Nets, PayNow, SGQR, pre-paid cards, credit cards, card payments

Hong Kong Monetary Authority selects ConsenSys for CBDC project

News | Cryptocurrencies | 28 Sep 2020

The Hong Kong Monetary Authority (HKMA) has selected ConsenSys, a US-based blockchain company, to develop a central bank digital currency (CBDC) project.

Hong Kong Monetary Authority, HKMA, ConsenSys, blockchain, CBDC, central bank digital currency, cross border payments, Singapore

Singapore-based Syfe secures USD 18.6 mln Series A funding

News | Payments General | 23 Sep 2020

Digital wealth manager Syfe has successfully closed a USD 18.6 million Series A funding round led by Valar Ventures, a VC fund for high potential fintech companies.

Syfe, Singapore, Series A, funding, digital wealth manager, Valar Ventures, VC, fintech, capital injection, investing, saving, Asia, technology platform, Presight Capital, Unbound, UK, investment firm, digital wealth management, platform, Monetary Authority of Singapore, MAS, Capital Markets Services License, CMS license, license, retail fund management, institutional fund management

Saudi Arabia shifts towards ecommerce and digital transactions, reveals report

News | Online Payments | 18 Aug 2020

Oxford Business Group (OBG) has released, in partnership with Saudi Payments, a report that reveals a shift towards ecommerce and digital transactions in the Kingdom.

Oxford Business Group, OBG, Saudi Payments, report, ecommerce, digital transactions, Saudi Arabia, COVID-19 Response Report, CRR, COVID-19, purchasing behaviour, fintech, Saudi Arabia Monetary Authority, SAMA

ECXX to launch asset-based digital securities exchange

News | Cryptocurrencies | 05 Aug 2020

ECXX Global (ECXX) has secured admission from the Monetary Authority of Singapore (MAS) to the Fintech Sandbox Express under the Recognised Market Operator (RMO) regime.

ECXX Global, tokens, blockchain, ECXX, Singapore, digital assets, Monetary Authority of Singapore, MAS

Standard Chartered enabled to run more places of business in Singapore

News | E-invoicing, SCF & E-procurement | 04 Aug 2020

The Monetary Authority of Singapore (MAS) has enabled Standard Chartered Bank Singapore (SCBSL) to run more places of business (POBs) as a Significantly Rooted Foreign Bank (SRFB).

Standard Chartered, SRFB, Singapore, The Monetary Authority of Singapore, MAS, Chartered Bank Singapore, SCBSL, Significantly Rooted Foreign Bank, banks, POBs, digital, digital banks, banking, lender

WeLab Bank launches virtual bank services

News | Online & Mobile Banking | 03 Aug 2020

WeLab Bank has launched of virtual banking services, making it the third virtual bank in Hong Kong to do this.

WeLab Bank, banks, banking, virtual banking, virtual banks, Hong Kong, banking licence, Hong Kong Monetary Authority, HKMA, fintech, Fintech Supervisory Sandbox, debit cards, cards, payments, Faster Payment System, numberless card, Mastercard

Saudi Payments, JCB partner to enable card acceptance through 'mada'

News | Cards | 21 Jul 2020

Saudi Payments, operator of national payment network (mada) has partnered with JCB to enable the acceptance of JCB cards in Saudi Arabia.

Saudi Payments, JCB, card acceptance, mada, JCB cards, cards, Saudi Arabia, mada network, acquiring banks, local banks, Point of Sale Terminals, ATM terminals, Saudi Arabian Monetary Authority, national payment system

MAS completes Project Ubin for Central Bank Digital Currency

News | Cryptocurrencies | 14 Jul 2020

The Monetary Authority of Singapore (MAS) and Temasek have released a report to mark the successful conclusion phase of Project Ubin.

Project Ubin, MAS, Monetary Authority of Singapore, Temasek, JP Morgan, Central Bank Digital Currency, CBDC, blockchain, payments, multicurrency, ecosystem, cross-border payments, multiple currencies, foreign currency exchange

BIS Innovation Hub to expand to new locations in Europe and North America

News | Payments General | 01 Jul 2020

BIS Innovation Hub has announced plans to extend its reach with new centres over the next two years in collaboration with central banks from Europe and North America.

BIS Innovation Hub, Europe, North America, central banks, BIS Innovation Hub, fintech, Bank of Canada, Bank of England, European Central Bank, Eurosystem, Danmarks Nationalbank, Central Bank of Iceland, Central Bank of Norway, Sveriges Riksbank, Federal Reserve System, Hong Kong Monetary Authority, Monetary Authority of Singapore, Swiss National Bank