Singapore

Fintech / Regtech

Singapore’s AI-Adoption Rate Highest Globally – FIS report

By Jill Wong | 04/10/2023

The FIS survey of over 2,000 business leaders worldwide found 92% of firms expect to adopt AI in the next 12 months.

Crypto / Digital Assets

MAS Grants Major Payments Institution Licence to Ripple

By Editors | 04/10/2023

Ripple received its in-principle approval from MAS just four months ago in June 2023. Singapore is the company’s Asia Pacific headquarters.

AML / KYC

Singapore Unveils Planned Measures to Strengthen AML Regime

By Manesh Samtani | 04/10/2023

The government will set up an inter-ministerial committee to review the AML regime and consider tightening rules for luxury goods, family offices and immigration.

Fintech / Regtech

Operational Resilience, Skills Key to Banks’ Technological Sophistication – MAS

By Jill Wong | 03/10/2023

The MAS’s Vincent Loy highlights the operational challenges facing banks as they seek to build technology skills and sophistication.

Enforcement

Three Arrows Capital Co-Founder Jailed in Singapore

By Mark Johnston | 03/10/2023

The co-founder was jailed for not cooperating with the liquidator’s effort to recover funds to return to the creditors of the collapsed hedge fund.

Securities / Derivatives

SGX Launches First Ammonia Derivatives Contracts

By Editors | 03/10/2023

SGX launched its first ammonia swap and futures contracts covering FOB Middle East and CFR East Asia pricing points.

Fintech / Regtech

MAS Querying DBS Regarding Disruption of Payment Services

By Mark Johnston | 03/10/2023

MAS is following up with DBS to identify the root cause of a disruption to the bank’s FAST and PayNow services last week.

Crypto / Digital Assets

Coinbase, Sygnum, GSR Win New Approvals in Singapore

By Manesh Samtani | 03/10/2023

Coinbase and Sygnum Singapore obtained full Major Payment Institution licences. GSR Markets Pte Ltd received in-principle approval.

Capital / Liquidity

MAS Proposes Recovery & Resolution Planning Requirements for Insurers

By Editors | 03/10/2023

MAS plans to issue a new notice setting out requirements for insurers to prepare and test recovery plans, and enhance its resolution powers for the insurance sector.