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Monetary Authority of Singapore to Issue up to 5 Virtual Banking Licenses
Speaking at the 46th Annual Dinner of the Association of Banks, Senior Minister Tharman Shanmugaratnam who is also the Chairman of the Monetary Authority of Singapore announced that they will be issuing up to 5 virtual banking licenses. This announcement
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Singapore’s Central Bank Has Some Serious Reservations about Facebook’s Cryptocurrency
The Monetary Authority of Singapore is now among the regulators that have expressed reservations about Facebook’s upcoming cryptocurrency, Libra. The central bank sees significant obstacles in Facebook’s way, according to a Bloomberg report, and they are “not trivial”. Ravi Menon,
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How Well Do You Understand Today’s Customer?
Power has shifted from companies to customers. Mobile phones have become central to our lives. Trust in institutions and traditional advertising has diminished. New entrants with radically different businesses are capturing our attention, and are reshaping the customer value chain. These
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Vietnam’s Digital Bank Timo Celebrates Its Third Birthday
Three years have passed since Lifestyle Project Management and Vietnam Prosperity Joint Stock Commercial Bank (VPBank) launched Timo, the country’s first bank that has no traditional branches or transaction offices. Formed in March 2015, Timo officially opened its doors in
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Grab is Now US$300 Mil Closer to Lofty US$6.5 Bil Goal it Needs to Hit By End of 2019
Grab just announced an additional investment of US$300 million from Invesco , a global independent investment management company. The additional investment in Grab takes Invesco’s overall total input into the ride-hailing-turned-potential-virtual-bank up to US$703 million. The latest capital injection puts
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Singapore PM Confirms That Central Bank is “Seriously Studying” Virtual Banking License
Singapore has already expressed their interest issuing virtual banking licenses, which could potentially admit fintech firms without a traditional bank branch at its core. Now, Singapore’s Prime Minister Lee Hsien Loong has confirmed that the Monetary Authority of Singapore (MAS)
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Singapore’s Fintech Adoption Has Increased by Almost Three Times in Just Two Years
In just two years, the rate of Fintech adoption among Singapore consumers has almost tripled, according to the EY Global FinTech Adoption Index 2019. Singapore’s adoption rate jumped from 23% to 67% between 2017 to 2019. The jump positions Singapore
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World’s First Traditional Equity Shares on the Blockchain Launches in Singapore
Blueshare, the world’s first traditional equity shares on the Ethereum blockchain, held its Singapore private launch dinner on June 24, 2019 at Mitzo restaurant of Grand Park Orchard Hotel. Dr. Zlatin Sarastov, Chief Financial Officer, and Mario Dimitroff, Head of
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A Blockchain-Based Alternative to Grab is Now Listed on Binance
Binance just announced a partnership with a Singapore-based blockchain company with a simple goal: keeping relevant information about a vehicle transparent and available on an immutable network. MVL is a blockchain protocol mainly known for running Tada, a blockchain-based alternative
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Indonesian P2P Lender Koinworks Raises SGD$ 16.5 Million in Series B Round
KoinWorks, one of Indonesia’s key players in the peer-to-peer (P2P) lending space, OJK, today announced its Series B fundraise of S$16.5 million (IDR 170 billion). Prior to this funding round, Koinworks was seated firmly among the 10 top funded fintech
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