Singapore

OCBC's Aditya Gupta says digital assets will be mainstreamed into the financial ecosystem "before we know it", creating new growth opportunities and revenue streams for banks.

MAS proposes to enhance the disclosures regarding possible interest rate changes, while also allowing for borrower acknowledgements to be obtained digitally.

The Asian fintech scene witnessed a raft of new announcements at this year's Singapore Fintech Festival held from 8-12 November 2021.

The pilot enabled trading counterparties and transacting banks to digitally validate and exchange trade documents in real-time.

New expectations on corporate governance will start to take effect from 1 January 2022, MAS says in its consultation response.

BNM and PayNet are joining Project Nexus, which was first announced in July by BIS Innovation Hub and MAS to explore new cross-border payment linkages.

As of mid-October, about 300 asset managers have incorporated or re-domiciled more than 400 VCCs in Singapore.

Speaking at Singapore Fintech Festival, MAS managing director Ravi Menon outlined three reasons MAS could issue to a CBDC, while also highlighting the associated risks.

MAS is launching a decentralised platform that will help banks assess the credentials, compliance readiness and credibility of fintech firms.

To support the green finance ecosystem, MAS and the industry will together develop four interoperable platforms under Project Greenprint.