Fintech / Regtech

MAS Proposes to Eliminate Cheque Usage in Singapore

03/11/2022

MAS proposes that financial institutions collectively cease the issuance of new cheque books to all corporates by end-2024.

Fintech / Regtech

BNP Paribas Completes Successful DRR Test for CFTC Rewrite

03/11/2022

BNP Paribas is ready to implement Digital Regulatory Reporting for the CFTC’s new swap data reporting rules coming into effect on 5 December.

Fintech / Regtech

Singapore Launches Digital Banker’s Guarantees, Insurance Bonds

03/11/2022

Banker’s guarantees and insurance bonds historically took a few days to issue. The new digital service enables issuance and delivery to government agencies within a day.

Market Infrastructure

Hong Kong, Macau Enable Real-time Payments Between Banks

03/11/2022

Macau already has a local RTGS system for local payments denominated in HKD. The new system enables real-time settlement of HKD payments between Macau and Hong Kong banks.

Crypto / Digital Assets

MAS Grants Approvals to Stablecoin Issuers Paxos, Circle

03/11/2022

Paxos provides has its own stablecoin (USDP) and provides infrastructure for Binance Coin. Circle is the issuer of stablecoins USD Coin and Euro Coin.

Crypto / Digital Assets

BIS Innovation Hub to Explore Use of DeFi Protocols in CBDC Trades

03/11/2022

Project Mariana involves the Eurosystem, Singapore and Switzerland BIS Innovation Hub Centres, together with the Bank of France, MAS and Swiss National Bank.

ESG / Sustainability

Bursa Malaysia, LSEG Expand Collaboration on ESG Initiatives

03/11/2022

FTSE Russell will provide ESG scores for all companies listed on Bursa Malaysia’s Main and ACE Markets, compared to 30 percent currently.

Crypto / Digital Assets

First Project Guardian Pilot Completed Using DeFi Protocols

03/11/2022

DBS, JP Morgan and SBI Digital Asset completed the pilot. Two other pilots are being launched by StanChart, HSBC, UOB and Marketnode.

Fintech / Regtech

MAS: SGFinDex Extended to Include Data on Insurance Policies

03/11/2022

SGFinDex users can now digitally access and aggregate information on life, accident and health insurance policies held across different participating insurers.