Monetary Authority of Singapore

Payments & Settlements

Sea Group Launches Digital-only MariBank in Singapore

By Editors | 15/03/2023

Invitations are currently limited to users of Sea Group’s ecosystem such as Shopee customers and individual sellers.

Cryptocurrency

Digital Asset Developments in South Korea: Balancing Innovation and Risk

By Rahul Advani | 15/03/2023

South Korea’s thoughtful approach to regulating digital assets will foster growth and innovation and result in a more vibrant and inclusive digital economy, say Rahul Advani and Angela Ang.

Resolution & Recovery

HSBC Acquires Silicon Valley Bank’s UK Unit for £1

By Editors | 14/03/2023

HSBC expects the deal to be profitable, strengthen its commercial banking franchise, and enhance its ability to serve innovative firms.

CBDCs

Swift Concludes 12 Weeks of Tests on CBDC Interlinking Solution

By Editors | 10/03/2023

Nine banks and three central banks participated in testing Swift’s API-based CBDC connector across two blockchain networks and fiat-based payment systems.

Anti-Money Laundering

MAS Calls for Stronger AML/CFT Controls in Wealth Management

By Editors | 06/03/2023

Circular sets out expectations for FIs to review their existing controls to ensure they remain adequate to mitigate ML/TF risks in wealth management.

Sustainable Finance

UK, Singapore Establish ‘Green Economy’ Cooperative Framework

By Editors | 03/03/2023

The UK and Singapore will cooperate in the areas set out under three pillars – one being carbon markets and sustainable finance.

Trading & Investment

BondEvalue Approved to Operate Fractional Bond Exchange in GIFT City

By Editors | 28/02/2023

GIFT City members and their clients will be able to access institutional-grade USD bonds via BondbloX Exchange.

CBDCs

BIS Head Outlines Vision for Future Monetary System

By Mark Johnston | 24/02/2023

Agustin Carstens said the disappearance of $2tr in value from the crypto market in 2022 proves that cryptocurrencies cannot be a viable alternative to fiat.

Supervision & Enforcement

MAS Seeks to Ramp Up Hiring for Enforcement Department

By Editors | 24/02/2023

MAS is also looking into creating a new ombudsman, a market conduct tribunal, a procedure for class-action lawsuits, and an investor compensation scheme.