Monetary Authority of Singapore Archives

Singapore’s new president is a digital asset sceptic who once called crypto ‘slightly crazy’

Business

Steve Kaaru

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11 September, 2023

Singapore’s new president is a digital asset sceptic who once called crypto ‘slightly crazy’

Tharman Shanmugaratnam, who won over 70% of the votes to become president, is a former MAS chair and IMF executive...

Monetary Authority of Singapore finalizes regulatory framework for stablecoins

Business

James Field

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18 August, 2023

Monetary Authority of Singapore finalizes regulatory framework for stablecoins

Singapore's central bank announced a new regulatory framework for stablecoins that seeks to "ensure a high degree of value stability...

Monetary Authority of Singapore commits over $100M to drive fintech innovation

Business

Wahid Pessarlay

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11 August, 2023

Monetary Authority of Singapore commits over $100M to drive fintech innovation

Singapore’s central bank is allocating SGD 150 million (US$111 million) to develop innovative fintech solutions, under the third iteration of...

Singapore orders digital currency firms to keep customer funds ‘under statutory trust’

Business

Wahid Pessarlay

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6 July, 2023

Singapore orders digital currency firms to keep customer funds ‘under statutory trust’

Under the new measures, digital currency firms in Singapore are expected to "segregate customers' assets from its own assets and...

Monetary Authority of Singapore proposes new design framework for digital currencies

Business

Wahid Pessarlay

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3 July, 2023

Monetary Authority of Singapore proposes new design framework for digital currencies

The latest report is part of the central bank’s broader study under the umbrella of Project Guardian, looking into the...

Singapore central bank issues Project Guardian report following experimentation with 3 use cases

Business

Wahid Pessarlay

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30 June, 2023

Singapore central bank issues Project Guardian report following experimentation with 3 use cases

The Monetary Authority of Singapore, along with notable financial firms and the BIS, conclude their exploration of blockchain interoperability in...

Singapore central bank’s white paper explores standards, use cases for digital money

Business

Wahid Pessarlay

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26 June, 2023

Singapore central bank’s white paper explores standards, use cases for digital money

Singapore believes digital money would be key in revitalizing the future of the financial and payments sector, laying out standard...

Singapore and New York regulators collaborate on CBDC interoperability in new study

Business

Wahid Pessarlay

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22 May, 2023

Singapore and New York regulators collaborate on CBDC interoperability in new study

The experiment aims for "a future digital currency landscape" that enables interoperability of wholesale CBDCs to facilitate cross-border payment, according...

Singapore central bank working on digital asset banking standards

Business

Steve Kaaru

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16 April, 2023

Singapore central bank working on digital asset banking standards

The MAS is in a working group with banks and authorities to develop standards for banks to onboard VASPs; however,...

Monetary Authority of Singapore to publish feedback on digital currency and stablecoin consultation in Q2

Business

Wahid Pessarlay

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24 March, 2023

Monetary Authority of Singapore to publish feedback on digital currency and stablecoin consultation in Q2

The consultation papers dealt solely with proposals designed to protect investors from the risks associated with dabbling in digital currencies...

SWIFT’s cross-border CBDC experiments show promise as participants prepare for phase 2

Business

Wahid Pessarlay

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14 March, 2023

SWIFT’s cross-border CBDC experiments show promise as participants prepare for phase 2

The 12-week study, involving 18 banks and financial institutions, shows the potential utility of CBDCs in settling cross-border transactions, prompting...

India explores cross-border payment functionality with Singapore

Business

Wahid Pessarlay

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26 February, 2023

India explores cross-border payment functionality with Singapore

The UPI-PayNow integration will provide a seamless cross-border transaction between India and Singapore, with citizens of both nations being able...

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