Singapore

Fintech / Regtech

MAS to Cooperate with Ghana on Trade and Financial Services

By Editors | 04/11/2022

MAS will work on initiatives to generate greater opportunities for trade and financial services cooperation between Singapore and Ghana.

Capital / Liquidity

SGX RegCo Refines CDP Margining Framework & Clearing Fund

By Sanday Chongo Kabange | 04/11/2022

Margin rates will be differentiated based on different risk profiles of securities. Margin offsets will be introduced to account for diversification effects. Anti-procyclicality measures will be enhanced.

Fintech / Regtech

MAS Launches New Initiative to Advance Cross-Border CBDC Work

By Sanday Chongo Kabange | 04/11/2022

Under the ‘Ubin+’ initiative, MAS will develop technical standards, infrastructure, and policy guidelines to support atomic settlement of FX transactions using CBDCs.

Fintech / Regtech

Six Southeast Asian Fintech Associations Agree to Cooperate

By Editors | 03/11/2022

The six fintech associations are from Singapore, Cambodia, Malaysia, the Philippines, Thailand and Vietnam.

Fintech / Regtech

MAS Proposes to Eliminate Cheque Usage in Singapore

By Editors | 03/11/2022

MAS proposes that financial institutions collectively cease the issuance of new cheque books to all corporates by end-2024.

Fintech / Regtech

Singapore Launches Digital Banker’s Guarantees, Insurance Bonds

By Editors | 03/11/2022

Banker’s guarantees and insurance bonds historically took a few days to issue. The new digital service enables issuance and delivery to government agencies within a day.

Crypto / Digital Assets

MAS Grants Approvals to Stablecoin Issuers Paxos, Circle

By Editors | 03/11/2022

Paxos provides has its own stablecoin (USDP) and provides infrastructure for Binance Coin. Circle is the issuer of stablecoins USD Coin and Euro Coin.

Crypto / Digital Assets

BIS Innovation Hub to Explore Use of DeFi Protocols in CBDC Trades

By Editors | 03/11/2022

Project Mariana involves the Eurosystem, Singapore and Switzerland BIS Innovation Hub Centres, together with the Bank of France, MAS and Swiss National Bank.

Crypto / Digital Assets

First Project Guardian Pilot Completed Using DeFi Protocols

By Editors | 03/11/2022

DBS, JP Morgan and SBI Digital Asset completed the pilot. Two other pilots are being launched by StanChart, HSBC, UOB and Marketnode.