Tagged: mas

Singapore: 0.1% Lending Facility Launched to Support Lending to SMEs

The Monetary Authority of Singapore (MAS) has launched a new lending facility to make certain SMEs have access to capital to mitigate the impact of the COVID-19 pandemic. The MAS SGD Facility for ESG Loans is in partnership with Enterprise Singapore (ESG). The goal is… Read More

COVID-19: Singapore Tells Population to Stop Going to Banks. Go Digital Please

The Monetary Authority of Singapore (MAS) is telling customers of financial institutions to stop going to brick and mortar locations during the COVID-19 pandemic. MAS is urging consumers to use digital, email, and telephone channels as far as possible. Of course, MAS is telling the… Read More

Digital Asset Marketplace Apifiny Receives Crypto License Exemption in Singapore

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

Monetary Authority of Singapore Provides Clarifications on Payment Services Act in New FAQ

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

Monetary Authority of Singapore Postpones Decisions Regarding Digital Banking Applications, Due to Coronavirus Outbreak

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

Digital Banking: AMTD International Confirms its Secondary Listing on the Mainboard of the Singapore Exchange Securities Trading Ltd

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

Monetary Authority of Singapore Introduces $125 Million Support Package for Fintech Firms and Other Financial Service Providers

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

Tuhina Singh, Founder of Digital Securities Platform Propine, Shares Vision for the Future of Digital Assets

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

Kenneth Bok: Head of Growth and Strategy at Zilliqa, a Major Blockchain Platform, Talks About Major Stablecoin Use Cases

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

Digital Bank: Singapore-based Fintech MatchMove Partners with Singapura Finance to Apply for Virtual Bank License

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

AMTD Digital, the Digital Finance Unit of AMTD Group, to Acquire Controlling Stake in PolicyPal

AMTD Digital, the digital finance division of AMTD Group, has revealed that it will be acquiring a controlling stake in PolicyPal, a firm that’s licensed by the Monetary Authority of Singapore (MAS). PolicyPal is notably the first graduate of MAS’s Fintech regulatory sandbox program. The… Read More

Fintech Arival Bank is Applying for a Full Service Digital Banking License in Singapore

In June 2020, Singapore’s regulatory authorities will be issuing operational licenses to three new wholesale neobanks in order to provide better services to underbanked small-and-medium-sized enterprises (SMEs).  The Monetary Authority of Singapore (MAS) confirmed in mid-2019 that it would begin accepting applications for five new… Read More

Mindful Wealth Moves to Singapore to Benefit from New Variable Capital Companies Framework

Asset management firm Mindful Wealth has re-domiciled in Singapore to benefit from the new “Variable Capital Companies” (VCC) framework. Mindful Wealth currently claims over $600 million in assets under management (AUM). The company originally started in Switzerland providing wealth management and other corporate services. Mindful… Read More

DLT-based Securities Platform iStox “Graduates” From Monetary Authority of Singapore Fintech Sandbox, Now Fully Regulated to Offer & Trade Securities

iSTOX, a blockchain-based platform, is now the first digital securities issuance, custody, and trading platform, licensed in Singapore. iSTOX recently “graduated” from the Monetary Authority of Singapore’s Fintech Sandbox program and has received regulatory approval to operate and provide digital asset issuance and trading. This… Read More

Monetary Authority of Singapore Has 21 Aspiring Fintechs Apply for 5 Digital Bank Licenses

The Monetary Authority of Singapore (MAS) has seen 21 different entities apply for a digital-only bank license. MAS had set a deadline for applications of December 31, 2019. MAS is offering just 5 different digital bank licenses. These licenses include two digital full bank (DFB)… Read More

Consortium Including Razer Fintech and Supermarket Chain Sheng Siong’s Founders File Application for Digital Full-Bank License in Singapore

A consortium, which includes Fintech firm Razer and the founders of Sheng Siong, has reportedly filed an application for obtaining a digital full-bank license in Singapore. The application notes that the consortium wants to mainly focus on the “underserved youth and millennials segment.” Insurance business… Read More

Ride-hailing Service Provider Grab to Partner One of Singapore’s Largest Telecom Firms, Singtel, to Acquire Digital Full Bank License

Non-financial firm ride-hailing service provider Grab confirmed on December 29 that it is partnering with one of Singapore’s largest telecommunication companies, Singtel, in order to acquire a digital full bank license in the Asian country. Singapore is currently accepting applications for a licenses to establish… Read More

Monetary Authority of Singapore Posts Update on Digital Bank Application Process

Earlier this year the Monetary Authority of Singapore (MAS) revealed its intent to issue digital bank licenses. Announced in June, applicants have until the end of this year (December 31) to apply. This means a license for digital-only banks. Existing traditional banks that offer digital… Read More

Monetary Authority of Singapore Commences Consultation on Digital Payment Tokens, E-Money

The Monetary Authority of Singapore (MAS), the securities regulator for the country, has commenced consultation on “E-money and digital payment tokens (DPTs).” Singapore is a well-recognized Fintech hub. Financial innovation in the country has been aided by the explicit support of policymakers including the leading… Read More

Singapore Fintech Festival Reports Over 60,000 Participants this Year

The Monetary Authority of Singapore (MAS) sponsored Singapore Fintech Festival attracted over 60,000 participants this year. The week-long event that recently ended saw registrations from 140 different countries along with 569 different speakers, 1000 exhibitors, and 41 international pavilions. This is according to MAS. Singapore… Read More

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