Tag "Monetary Authority of Singapore"

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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Singapore and Canada Successfully Trials Cross Border Payments with Central Bank Backed Digital Currency

There’s a growing number of central banks taking a serious look at blockchain and distributed ledger technologies of late. The Bank of Canada and the Monetary Authority of Singapore (MAS) have conducted a successful experiment on cross-border and cross-currency payments

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The Future of Cross-Border Transfers Could Be Central Bank-Backed Digital Currency

As we slowly but surely move towards a global village into a reality, the overall value of cross-border payments is also expected to rise by 5.5% yearly, increasing from US$22 trillion in 2016 to US$30 trillion in 2022. Yet, according

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MAS to Invest SG$6.9 Bil Into Private Equity and VCs To Spur Ecosystem Growth

The Monetary Authority of Singapore (MAS) announced the launch of a new US$5 billion (SG$6.91 billion) worth private market programme. MAS will be allocating this amount of its own funds as its investment portfolio in the private markets asset class.

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Singapore Uses AI to Give SMEs Access to International Trade Opportunities

The Monetary Authority of Singapore (MAS) and Infocomm Media Development Authority (IMDA) are partnering with six private sector partners to create a Proof of Concept hybrid business data and digital solutions hub. The initiative will leverage on Artificial Intelligence (AI)

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UOB & Intel Want to Use Artificial Intelligence to Combat International Money Laundering

United Overseas Bank (UOB) today announced it  collaborated with Intel to test how federated advanced data analytics can enhance cross-border anti-money laundering (AML) efforts. The project was co-funded by the MAS’ Artificial Intelligence and Data Analytics (AIDA) Grant under the

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MAS Warns Public Against Websites Faking DPM Tharman’s Quotes to Sell Bitcoin

The Monetary Authority of Singapore (MAS) has issued a warning about fraudulent websites soliciting bitcoin investments using fudged comments that they’ve attributed to MAS Chairman and Deputy Prime Minister, Tharman Shanmugaratnam. Screenshots of the website depict fake articles that are

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