SINGAPORE

Crypto / Digital Assets

Grab Introduces Crypto Payments for Singapore Customers

By Ranamita Chakraborty | 20/03/2024

Grab’s new partnership with payments provider Triple-A allows it to offer wallet top-up option using Bitcoin, Ether, XSGD, USDC, and USDT.

MAS to Release Revised Fair Dealing Guidelines for FIs Soon

By Nithya Subramanian | 19/03/2024

The updated guidelines will apply in a “risk proportionate manner” and ensure that customers are treated fairly, said MAS’ Ho Hern Shin.

ESG / Sustainability

UNDP, MAS, GLEIF Launch Whitepaper on Project Savannah

By Ranamita Chakraborty | 18/03/2024

The whitepaper details Project Savannah’s goals and strategy for empowering MSMEs in sustainability reporting through three key pillars.

Market Infrastructure

Japan, ASEAN Plan Joint QR Code Payment Services

By Nithya Subramanian | 15/03/2024

A standardised QR code payment system will be developed to connect service providers in different countries, facilitating cashless payments across borders.

AML / KYC

Use of AI for AML Could Lower Effectiveness: Report

By Bradley Maclean | 14/03/2024

A new report from NICE Actimize and Regulation Asia sheds light on APAC’s use of technology to fight financial crime.

Crypto / Digital Assets

Crypto Major OKX Wins In-principle Approval in Singapore

By Ranamita Chakraborty | 14/03/2024

OKX will focus on spot products first while it works to bring local banking connections to customers “as soon as possible”.

Singapore: First Batch of Changes to Business Trusts Act Take Effect

By Manesh Samtani | 14/03/2024

Phase 1 implementation introduces requirements for CEOs of business trusts to disclose their interests in transactions, among other provisions.

Securities / Derivatives

SGX Unveils Plans to Launch SORA, TONA Derivatives

By Nithya Subramanian | 13/03/2024

Interest rate futures linked to the SORA and TONA will serve as cost-effective and transparent hedging and trading tools for investors.

AML / KYC

Singapore Proposes Tighter Rules for Corporate Service Providers

By Nithya Subramanian | 13/03/2024

All CSPs would be required to register with ACRA and subject to AML/CFT obligations. The use of nominee directors is being curtailed.