The Monetary Authority of Singapore (MAS) is set to introduce a series of stringent measures aimed at tightening regulations for cryptocurrency service providers in the nation.
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The introduction of NDF trading, backed by a transparent and efficient CLOB system, is poised to enhance LMAX Exchange Singapore’s market position and offer significant benefits to its clients, especially in terms of foreign exchange risk management.
Asia-based crypto exchange XREX has secured in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution (MPI) license. This initial approval paves the way for XREX to offer digital payment token products and services in Singapore.
SC Ventures, the fintech investment and venture arm of Standard Chartered, has launched a new tokenization platform, Libeara, which facilitates the creation of a tokenized Singapore dollar government bond fund.
“While many of the economic factors troubling financial executives a year ago – from rising interest rates to elevated geopolitical unrest – persist today, the rate of technological progress witnessed over the last 12 months poses a tremendous growth opportunity. Market participants are well aware of this, and most are taking meaningful steps to capitalize on it.”
“The advanced surveillance capabilities provided by this system will help enable us to proactively monitor trading activities, detect irregularities, and swiftly address any potential market misconduct. As a leading digital investment platform and the most downloaded brokerage app in Singapore, we will continue to reinforce our position and take charge to protect investors’ interest.”
South Korea’s largest cryptocurrency exchange, Upbit, has secured in-principal approval for a major payment institution license from the Monetary Authority of Singapore (MAS).
“I am honored and excited to return to Tiger Brokers (Singapore) as CEO. This company holds a special place in my heart, and I am committed to building on its legacy of excellence.”
The expansion into China represents more than just a geographic milestone for Nuvei. It also adds an essential component to the company’s comprehensive suite of alternative payment methods (APMs), which currently counts 634 different options. These APMs play a crucial role in catering to local market preferences, thereby enhancing Nuvei’s value proposition for businesses looking to penetrate new markets within the APAC region.
Zurich-based fintech startup Sygnum has obtained approval from the Monetary Authority of Singapore (MAS) to begin offering regulated cryptocurrency services in the country.
Cryptocurrency exchange Coinbase has secured a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
“This demonstrates Integral’s commitment to supporting brokers, such as Orient Futures Singapore, to better service their fast-growing customer community with our flexible SaaS technology offering. With China and the broader region’s continuing growth in FX trading, we are delighted our technology has been chosen by such a prominent and reputable brokerage.”
McLaren Racing and Web3 technology leader OKX have teamed up to introduce a special edition “Stealth Mode” livery for the McLaren MCL60 F1 cars, set to debut at the 2023 Singapore and Japanese Grand Prix events.
“Singapore is no stranger to digital assets, having long been a hub for financial technology innovation. But even in a mature market, challenges remain.”
“Our aim is to provide a fair, orderly, and transparent marketplace where institutional investors can realize the benefits of digital assets with confidence.”
US-based payments company Payoneer has just obtained approval for a major payment institution license from the Monetary Authority of Singapore (MAS).
Singapore’s financial regulator on Tuesday unveiled its regulatory framework for stablecoins, those cryptocurrencies pegged to fiat money for a more solid and stable asset. As part of this framework, stablecoin issuers seeking approval in Singapore must fulfill specific prerequisites related to value stability, capital reserves, and redemption obligations.
“We commend the Monetary Authority of Singapore on its transparent regulatory process that prioritizes crypto industry oversight while allowing innovation to thrive.”
Finmo, a payments company headquartered in Singapore, has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).