Tag "Monetary Authority of Singapore"

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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Digital Securities Firm Propine Graduates From MAS’ Fintech Sandbox

Propine, a Singapore-based end-to-end securities services firm catering for digital securities services to institutional clients, has become the first independent digital asset custody service provider to graduate from the Monetary Authority of Singapore’s (MAS) Fintech Regulatory Sandbox.  Since its admission

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StanChart Inches Closer to Singaporean Digibank After New Classification by MAS

Standard Chartered Bank (Singapore) Limited (SCBSL) has been awarded enhanced Significantly Rooted Foreign Bank (SRFB) privileges by the Monetary Authority of Singapore (MAS), indicating that it is making moves for a second digital-only bank after its launch of Mox. The

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Singapore Blockchain Ecosystem Report 2020 Unveiled At Singapore Fintech Festival

The Singapore Blockchain Ecosystem Report 2020 was launched at this year’s Singapore FinTech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH). The report highlights the impactful developments and trends in Singapore’s blockchain ecosystem over the past year.

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Grab, SEA and Ant Among Those Who Secured Singapore’s Digital Banking License

The Monetary Authority of Singapore (MAS) announced four successful digital bank applicants. The full digital bank license was awarded to the Grab-Singtel consortium and SEA Group best known for its brands; Shopee and Garena. Meanwhile the digital wholesale bank license

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BondEvalue Gets the Green Light From MAS for Blockchain-Based Bond Exchange

Singapore-based fintech BondEvalue has been approved as a Recognised Market Operator (RMO) by the Monetary Authority of Singapore (MAS). It operates BondbloX Bond Exchange (BBX), a blockchain-based bond exchange that aims to bring trading of a wide range of fixed-income

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MAS Commits S$250 Million to Drive Innovation and Build Fintech Talent Pipeline

The Monetary Authority of Singapore (MAS) announced that it will commit S$250 million over the next three years under the enhanced Financial Sector Technology and Innovation Scheme (FSTI 2.0) to accelerate technology and innovation-driven growth in the financial sector. Funded

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MAS Invites Applications for New Digital Bank Licences Starting Today

The Monetary Authority of Singapore (MAS) announced today that it will begin accepting applications for new digital bank licences. Interested parties have until 31 December 2019 to submit their applications. This follows the announcement in June 2019 by Mr Tharman Shanmugaratnam, Senior

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Singapore is Now Considering Virtual Banking Licenses Too—Here’s Why

The now famous Hong Kong virtual banking licenses have been a bit of a mixed bag for the region, but nevertheless, it’s gotten a lot of attention. To date, four licensees will be ready to go to market before the year

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