Fintech / Regtech

Libra Association to Launch Scaled-down Digital Currency in January

03/12/2020

The launch date depends on regulatory approval from FINMA, expected as early as January. A new name has been adopted for the association and the digital currency.

Securities / Derivatives

SAFE Keeps With Pledge to Grant Additional QDII Quotas

03/12/2020

SAFE pledged to grant additional quotas quarterly. Since September, $12.72bn worth of QDII quotas have been granted to 71 institutions.

Securities / Derivatives

OCBC Securities, Lion Global to Launch SGX’s First Tech-focused ETF

03/12/2020

The ETF will launch on SGX on 10 December, tracking the Hang Seng TECH Index, which comprises Hong Kong’s 30 largest listed technology companies.

Securities / Derivatives

UOB to Set Up Electronic FX Trading Infrastructure in Singapore

03/12/2020

The electronic FX pricing and trading engine will help UOB achieve reduced latency, and aligns with MAS objectives to develop Singapore into a regional FX trading centre.

Crypto / Digital Assets

BIS Innovation Hub Completes Wholesale CBDC Experiment

03/12/2020

BIS Innovation Hub, the Swiss National Bank, and SIX compared the feasibility of issuing a wholesale CBDC versus linking the existing payment system to a distributed ledger.

FSC Korea to Revise Insurance Law for IFRS 17 Adoption in 2023

03/12/2020

The FSC will set up a task force charged with drawing up legislative revisions to reflect changes in IFRS 17 and prepare for implementation in 2023.

BNM to Update Framework for Microinsurance, Microtakaful Products

03/12/2020

The proposals presented in a new exposure draft seek to promote more innovative, sustainable and inclusive insurance and takaful business models.

Securities / Derivatives

Bill to Block Chinese Listings on US Markets Passes Congress

03/12/2020

Once the President signs the bill into law, Chinese companies would be blocked from listing in the US if they don’t submit to PCAOB audits.

Fintech / Regtech

Malaysia Completes Bond Tokenisation POC in Offshore Market

03/12/2020

The POC demonstrated that digital bonds could be issued and managed on a blockchain, and its attributes allow for new service expansion offerings.