Tag "Monetary Authority of Singapore"
A Guide on Mitigating Cloud Adoption Risks Based on MAS’ Advisory
Although organisations across many sectors have accelerated the adoption of cloud environments, the financial institutions (FIs) have been rather reluctant in migrating their services to the cloud. Core transaction processing and other mission-critical tasks are still running on legacy on-premises
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BIS to Test Central Bank Digital Currencies With Australia, Malaysia, Singapore, S. Africa
The Bank for International Settlements (BIS) Innovation Hub will test the use of central bank digital currencies (CBDCs) for international settlements with Australia, Malaysia, Singapore and South Africa. Led by the Innovation Hub’s Singapore center, Project Dunbar aims to develop a
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Meet the 15 Finalists for MAS’ Global CBDC Challenge
The Monetary Authority of Singapore (MAS) has announced the 15 finalists who have developed retail Central Bank Digital Currency (CBDC) solutions for the Global CBDC Challenge. The finalists, comprising financial institutions, fintechs and technology solution providers, will progress to the
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MAS Green Lights Expansion of Tranglo’s Payment Functions
Tranglo, a cross-border payment processing hub, announced that it received new approvals from the Monetary Authority of Singapore (MAS) to provide account issuance, domestic money transfer and e-money issuance services. The license was granted under the Payment Services Act (PSA) which ensures
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Independent Reserve Gets MAS’ First in-Principle Approval for Digital Payment Tokens
Australian cryptocurrency exchange Independent Reserve has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate as a regulated provider for digital payment token (DPT) services. According to a statement from the Independent Reserve, the firm said that
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MAS: The Future of Money Is Too Important to Be Left Entirely to Central Bankers
At the Andrew Crockett Memorial Lecture, Mark Carney spoke about ‘Decentralised Finance and the Future of Money.’ Carney provided an overview of the transformation taking place that will “re-wire” monetary and financial systems. According to Carney, centrifugal forces are driving
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Singapore, France Regulators Trial Wholesale Cross-Border Transactions Using Digital Currencies
The Monetary Authority of Singapore (MAS) and Banque de France (BdF) announced the successful completion of a wholesale cross-border payment and settlement experiment using central bank digital currency (CBDC). The experiment, supported by J.P. Morgan’s Onyx, simulated cross-border transactions involving
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Project Ubin: Exploring Singapore’s Digital Currency Project
Central bank digital currency (CBDC) is arguably one of the biggest developments in recent times that has the potential to reshape financial services as we know. China is of course one of the most prominent examples, since 2014 it has
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hoolah Welcomes MAS’ Decision to Review Buy Now Pay Later Schemes
Singaporean buy now, pay later (BNPL) platform hoolah issued a statement welcoming the decision of the Monetary Authority of Singapore to review the sector over growing concerns for consumers’ financial welfare. The Singaporean regulator had previously stated that it would be
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MAS Mulls Regulating BNPL Schemes Amidst Concern of Rising Consumer Debt
Amidst the popularity of buy now, pay later (BNPL) solutions, the Monetary Authority of Singapore (MAS) has raised growing concerns over consumers being trapped in unseen debt leading to potential financial difficulties. The boom in the BNPL solutions have prompted
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