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.

AML / KYC

FATF Consults on New Draft Guidance on Beneficial Ownership

03/11/2022

The FATF is consulting on draft guidance on Recommendation 24 and draft proposals to amend Recommendation 25 and its Interpretive Note until 6 December 2022.

Market Infrastructure

CFTC Extends Swap Reporting Relief for Non-US Dealers

02/11/2022

The no-action relief, initially granted in December 2013, was due to expire by 1 December 2022, but has been extended to 1 December 2025.