Payments & Settlements

MAS Proposes to Eliminate Cheque Usage in Singapore

03/11/2022

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

Clearing & Post-Trade

BNP Paribas Completes Successful DRR Test for CFTC Rewrite

03/11/2022

BNP Paribas is ready to implement Digital Regulatory Reporting for the CFTC’s new swap data reporting rules coming into effect on 5 December.

Payments & Settlements

Singapore Launches Digital Banker’s Guarantees, Insurance Bonds

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.

Payments & Settlements

Hong Kong, Macau Enable Real-time Payments Between Banks

03/11/2022

Macau already has a local RTGS system for local payments denominated in HKD. The new system enables real-time settlement of HKD payments between Macau and Hong Kong banks.

Stablecoins

MAS Grants Approvals to Stablecoin Issuers Paxos, Circle

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.

DeFi & Web3

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

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.

ESG Data

Bursa Malaysia, LSEG Expand Collaboration on ESG Initiatives

03/11/2022

FTSE Russell will provide ESG scores for all companies listed on Bursa Malaysia’s Main and ACE Markets, compared to 30 percent currently.

DeFi & Web3

First Project Guardian Pilot Completed Using DeFi Protocols

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.

Cloud & Infrastructure

MAS: SGFinDex Extended to Include Data on Insurance Policies

03/11/2022

SGFinDex users can now digitally access and aggregate information on life, accident and health insurance policies held across different participating insurers.