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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.

Tokenisation
DBS, JP Morgan to Develop Cross-border Tokenised Deposit Framework
By Nithya Subramanian | 13/11/2025
The collaboration aims to create an interoperability framework enabling real-time exchange and settlement of tokenised deposits across multiple blockchains.

Structural Regulation
China Eases Critical Mineral Export Curbs but Retains Licensing Powers
By Manesh Samtani | 13/11/2025
China suspended its bans on materials for US and EU firms but kept its dual-use export control framework in place, requiring ongoing licensing.

Clearing & Post-Trade
HKEX to Take 20pc Stake in HKMA’s CMU OmniClear Holdings
By Mark Johnston | 13/11/2025
Partnership aims to build a major regional CSD and advance Hong Kong’s fixed-income ecosystem and status as an RMB hub.

Payments & Settlements
Singapore Pools Ends Transaction Fees for All E-payment Options
By Nithya Subramanian | 13/11/2025
Singapore Pools will longer charge transaction fees for popular e-payment methods, including PayNow, FAST and eNETS, after concluding a review with banks and payment-system partners.

Payments & Settlements
RBI Recognises First SRO for Payment System Operators
By Nithya Subramanian | 13/11/2025
The RBI has granted recognition to the Self‑Regulated PSO Association (SRPA) as a self-regulatory organisation for payment system operators, aimed at strengthening oversight.

Clearing & Post-Trade
APAC Firms Lagging in Readiness for US Treasury Clearing Rules
By Mark Johnston | 12/11/2025
A global survey reveals 80 percent of Asia-based firms are still in the 'scoping' phase for looming US Treasury clearing rules.

Clearing & Post-Trade
China Revises Rules for Securities Settlement Risk Fund
By Mark Johnston | 12/11/2025
CSRC and Ministry of Finance update fund measures, expanding investment options and adding risk control requirements effective 8 December.

Tokenisation
HK Raises Record HK$10b in Third "Digitally Native" Bond Offering
By Sanday Chongo Kabange | 12/11/2025
The government has priced its third DLT-supported green bond, raising the equivalent of USD 1.3 billion across four currencies.

Payments & Settlements
Bangladesh Bank Proposes New Rules for PSOs and E-Money Issuers
By Mark Johnston | 11/11/2025
Draft regulations introduce stricter PSO liabilities and open the e-money market to non-bank entities.

AI Risk & Governance
Bangladesh Bank to Introduce AI Policy by December, Plans Open Banking Framework
By Mark Johnston | 11/11/2025
The central bank is developing new regulations for AI, including an in-house LLM, and setting a 2026 target for open banking guidelines.
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