Articles with tag like: Monetary Authority of Singapore

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Monetary Authority of Singapore reviews BNPL regulation

News | Payments General | 12 Feb 2021

The Monetary Authority of Singapore (MAS), the country’s central bank, has reportedly started to review its regulation on buy now pay later (BNPL) companies, according to LapthrinX.

Monetary Authority of Singapore, BNPL, regulation, Singapore, central bank, buy now pay later, online payments

MAS issues digital banking licences in Singapore

News | Online & Mobile Banking | 26 Jan 2021

The Monetary Authority of Singapore (MAS) has announced that four entities were awarded digital banking licenses in early December 2020, according to aseanbriefing.com.

Monetary Authority of Singapore, MAS, Singapore, digital banking, licence, Singtel, Grab, banks, Ant Financial, Sea Limited

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

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

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

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

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

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

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

The Monetary Authority of Singapore shortlists 14 applicants for digital bank licences

News | Online & Mobile Banking | 19 Jun 2020

Singapore’s central bank has shortlisted 14 applicants for up to five digital bank licences on offer in the city.

Singapore, digital bank, bank, digital, Monetary Authority of Singapore, MAS, retail

ByteDance to apply for Singapore banking licence

News | Online & Mobile Banking | 15 Jun 2020

China-based ByteDance, an internet technology company, has announced it is going to expand its services into banking by joining forces with Singapore’s Lee family.

ByteDance, partnership, Lee, Singapore, banking, banking licence, internet, technology, digital bank, OCBC Bank, Monetary Authority of Singapore, Alibaba, Ant Financial, Xiaomi, Hong Kong, China

Deutche Bank plans launching e-FX trading hub in Singapore

News | Online Payments | 15 Jun 2020

Deutsche Bank has announced it will establish an electronic foreign exchange (e-FX) hub in Singapore.

Deutsche Bank, e-FX, Singapore, electronic exchange, exchange, Monetary Authority of Singapore, e-trading, fintech, digital payments, payments, transactions

Singapore Fintech Association to launch self-assessment tool

News | E-invoicing, SCF & E-procurement | 15 Jun 2020

The Singapore Fintech Association (SFA) has announced launching a digital self-assessment framework for fintechs to accelerate the onboarding of partnerships with banks.

: Singapore, fintech, Singapore FinTech Association, digital, onboarding, partnership, banks, Monetary Authority of Singapore, COVID-19, coronavirus

BNY Mellon, MAS to build FX pricing and trading engine in Asia

News | Payments General | 05 Jun 2020

BNY Mellon has teamed up with the Monetary Authority of Singapore (MAS) to build a high-performance FX pricing and trading engine.

BNY Mellon, trading desk, cross border payments, Monetary Authority of Singapore, MAS, pricing, Singapore, Asia, bank, fintech, financial sector

Falcon Private Bank to exit private banking in 2021

News | Payments General | 13 May 2020

Switzerland-based Falcon Private Bank has changed its name after confirming it will cease its core activities in 2021 after a strategic review of the business.

Switzerland, private banks, banks, banking, Falcon Private Bank, Swiss Financial Market Supervisory Authority, FINMA, Monetary Authority of Singapore, MAS, Singapore, 1MDB, money-laundering

Matchmove partners with OpenPayd in bid for digital bank license in Singapore

News | Online & Mobile Banking | 23 Mar 2020

Singapore-based fintech MatchMove has submitted an application for a Digital Full Bank License to the Monetary Authority of Singapore. 

MatchMove, OpenPayd, Singapura Finance, partnership, banking-as-a-service, BaaS, Monetary Authority of Singapore, Vivid Card, banking licence, Singapore, Asia, APAC

Singapore to licence neobanks and wholesale banks

News | Payments General | 11 Mar 2020

Singapore’s regulatory authority has announced that in June 2020 they will issue operational licences to three neobanks in order to provide better services to underbanked enterprises.

digital banking, Singapore, fintech, MAS, Ant Financial, TikTok, licences, neobanks, Monetary Authority of Singapore