Monetary Authority of Singapore

Fintech / Regtech

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.

Crypto / Digital Assets

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.

Capital / Liquidity

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.

Crypto / Digital Assets

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.

AML / KYC

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.

ESG / Sustainability

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.

Fintech / Regtech

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.

Big Picture

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.

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.