Fintech / Regtech

Thirteen tech firms including Tencent, ByteDance and Baidu’s fintech arm are directed to correct regulatory violations in their financial services businesses.

The RegTech grant scheme is available to Singapore-based FIs to help them enhance processes and capabilities in their risk management and compliance functions.

Open banking is now being provided by all types of deposit-taking institutions in Korea. Credit card companies will start from end-May.

MAS is partnering with the BIS Innovation Hub and central banks to design, develop and test new m-CBDC models for cross-border settlement.

The participating banks include DBS, OCBC, UOB, Bangkok Bank, Kasikornbank, Krung Thai Bank and Siam Commercial Bank.

High volume brokers were asked in 2019 to adopt new data standards to enable more timely data submissions to regulators when requested.

An open platform will be developed to enable real-time cross-border multi-currency payments, trade finance, foreign exchange and DVP securities settlements.

Ant Group, Tencent, Huawei and JD.com have revealed that they were involved in the development and testing of the digital yuan.

Under Senator Andrew Bragg's proposal, technology and finance business that relocate to Australia would pay concessional tax rate for seven years.

Members include blockchain associations in Singapore, Indonesia, the Philippines, Malaysia, Thailand and Australia.