Fintech / Regtech

Big Picture

BIS Innovation Hub, HKMA Publish Project Aurum Findings

By Editors | 24/10/2022

A two-tier prototype system was developed to test intermediated CBDC as well as stablecoins backed by CBDC in the interbank system.

Fintech / Regtech

RBI Consults on New Master Directions on IT Governance

By Sanday Chongo Kabange | 23/10/2022

Regulated entities will have to obtain source code from vendors for critical applications or ensure a software escrow agreement is in place.

Fintech / Regtech

MAS Proposes to Raise Caps Imposed on E-Wallets

By Manesh Samtani | 21/10/2022

Besides raising the caps, MAS also proposes to introduce an exemption to allow for ‘white labelling’ of e-wallet accounts.

AML / KYC

Korea to Launch National Digital ID in 2024

By Editors | 20/10/2022

An app will be used to embed blockchain-powered digital IDs into mobile devices. Government officials will not have access to stored data.

Crypto / Digital Assets

Hong Kong Leader Announces Measures to Revitalise City

By Manesh Samtani | 20/10/2022

Lee’s administration will work to speed up the implementation of mutual market access arrangements with the mainland, among other measures.

Fintech / Regtech

Singapore Establishes Inter-agency Taskforce on Ransomware

By Editors | 20/10/2022

The Counter Ransomware Task Force comprises senior government representatives from the technology, cybersecurity, financial regulation and law enforcement domains.

Fintech / Regtech

India Launches Digital Banking Units to Advance Financial Inclusion

By Editors | 19/10/2022

The units were established by 24 banks to house digital infrastructure for the delivery of digital banking products and services in self-service and assisted mode.

Fintech / Regtech

Kakao Under Probe Over Unprecedented Service Disruption

By Editors | 19/10/2022

A fire occurred at a data centre where Kakao operates 32,000 servers that support the vast majority of its mobile services.

Fintech / Regtech

HK Consumer Council Warns of Inadequate BNPL Protections

By Editors | 18/10/2022

The Consumer Council is calling on non-bank BNPL service providers to apply for a Money Lenders Licence and to implement consumer protection measures “as soon as possible”.