2023-4-6 09:43 |
Singapore's central bank and police authorities have been helping banks to set uniform standards for fine-tuning their vetting approach when opening crypto accounts.
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According to insiders familiar with the matter, Singaporean banks are teaming up with authorities to establish consistent standards for screening potential customers in the digital assets and cryptocurrency sectors.
2023-4-6 14:07 | |
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Singaporean authorities are collaborating with banks that offer crypto services to set up new vetting standards, as BNN Bloomberg reported. The country’s central bank officials have been active on the project for six months, the BNN Bloomberg article stated.
2023-4-6 13:59 | |
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While the crypto industry has appeared to be in need of constant access to traditional banks like never before especially following the collapse of these major crypto-friendly US banks – Silvergate, Silicon Valley, and Signature, Singapore authorities seem to not be shying away from the fact but instead look to how to make it possible. […]
2023-4-6 12:30 | |
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Potential guidelines reportedly won’t have a binding force over banks, which can rely on their own risk assessment.
2023-4-6 10:51 | |
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Liquidators for Three Arrows Capital (3AC) have seized $35.6 million from the collapsed crypto hedge fund’s bank accounts in Singapore three months after getting the nod from that country’s High Court to begin probing 3ACs assets in the country.
2022-12-3 21:37 | |
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Singapore banks generally have low exposure to cryptocurrencies. It contributes less than 0.5% to their overall risk-weighted assets.
2022-11-29 13:48 | |
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Singapore’s senior minister Tharman Shanmugaratnam said on November 28 that banks in the country must hold $125 of capital against every $100 exposure to risky crypto assets like Bitcoin (BTC) and Ethereum (ETH).
2022-11-29 21:03 | |
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Banks must hold $125 in capital against every $100 worth of bitcoin, a senior minister said.
2022-11-28 19:33 | |
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The Innovation Hub of the Bank for International Settlements (BIS) is leading a project to explore the use of Defi protocols to automate foreign exchange markets and settlement, CBDC payments via automated market makers (AMMs), according to a November 2 blog post.
2022-11-3 19:12 | |
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The banks involved in the pilot were DBS, JPMorgan, and SBI Digital Asset.
2022-11-2 08:44 | |
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Singapore has quietly been playing host to some of the most advanced explorations into cryptocurrency and decentralized finance (DeFi) ever done by big banks, institutions and regulators.
2022-11-2 07:05 | |
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DBS Group Holdings Ltd. has opened up its cryptocurrency trading services on its digital exchange DDEx to an additional 100,000 of its most affluent clientele. The post Banks Warming up to Crypto: Singapore’s DBS Bank Opens up Crypto Trading to ‘Accredited’ Investors appeared first on BeInCrypto.
2022-9-24 12:00 | |
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The tool to enable paying using different assets, tested by Australia, South Africa, Singapore and Malaysia, is the latest foray into trialling the applications of central bank digital currencies.
2022-3-22 13:39 | |
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The president of Peru’s central bank has indicated that the country will be joining forces with India, Singapore and Hong Kong to develop its own central bank digital currency.
2021-11-18 08:56 | |
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CBDC, also central bank digital currency, is a digital token issued by a country. Many governments and central banks around the world are exploring the use of CBDCs. Even though they mostly remain in the hypothetical stage.
2021-9-6 00:00 | |
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The Bank of International Settlements (BIS) is collaborating with apex banks in Australia, Malaysia, Singapore, and South Africa to trial central bank digital currencies (CBDCs) for cross-border payments and remittances, according to a Coindesk report on September 2, 2021.
2021-9-3 23:00 | |
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The race to issue CBDCs is still ongoing, with central banks around the world participating. Of course, not every country has joined the race, but enough of them for it to truly feel like global competition, with China still in the lead.
2021-8-31 17:33 | |
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Central banks of Singapore and France are developing a digital coin interoperability system that will support various global CBDCs. The Financial authorities of both countries are seriously exploring the CBDCs cross-border applications.
2021-7-17 11:02 | |
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France’s apex bank and Singapore’s monetary authority have collaborated on a cross-border central bank digital currency (CBDC) project. The partnership is the latest example of the emerging international cooperation among central banks in CBDC development across the world.
2021-7-9 08:00 | |
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The central banks of France and Singapore are working on a digital currency interoperability system supporting multiple global CBDCs.
2021-7-8 13:31 | |
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DBS, Singapore’s largest and one of the world’s biggest banks by assets under management, put forward a bullish case for Bitcoin in a client note earlier this week. The post DBS: Bitcoin is ‘potentially a better store of value’ than the dollar appeared first on CryptoSlate.
2021-5-22 19:00 | |
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The approved digital banks will be able to start operating from Singapore in early 2022.
2020-12-4 18:05 | |
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2020 is all about cryptocurrencies as the tide turns. The latest one to jump on the digital currency bandwagon is the largest retail and commercial bank of Singapore, DBS. The bank has soft-launched its cryptocurrency and fiat trading exchange with Bitcoin (BTC), Ethereum (ETH), XRP, and Bitcoin Cash (BCH) as the primary listed crypto assets.
2020-10-27 16:31 | |
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One of the largest banks in the world is delving into the decentralized ledger technologies (DLT) space to offer fixed income securities on the blockchain. Singapore’s HSBC announced a partnership with Singapore Exchange (SGX), a leading exchange in debt and fixed income assets, and Temasek, a company with a net portfolio value of $231 billion […]
2019-11-14 00:13 | |
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The popular Luno cryptocurrency exchange is set to re-open its services in Singapore after months of ceased operations in the country. The service is set to open its deposit services in Singapore dollars within a month after two banks opened accounts on its platform, effectively ending an exile that lasted about two years.
2019-11-3 17:20 | |
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One of Asia’s largest investment banks, CIMB Group’s Singapore-based bank, CIMB Bank Berhad Singapore, settled its first ever transaction on blockchain technology on Oct. 17. According to a Yahoo Finance press release, the bank partnered with iTrust, a trade finance blockchain solution, to efficient, instant and transparent channels of global trade. The CEO of CIMB […]
2019-10-18 18:39 | |
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A Singaporean banking branch of CIMB Group, one of the largest Asian investment banks, has completed its first blockchain-based trade financing transaction
2019-10-18 16:30 | |
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OCBC, one of the largest banking institutions in Singapore, has recently joined the JPMorgan Chase’s blockchain network, according to reports from local media outlets. Right now, there are 134 banks from the Asia-Pacific as part of the Interbank Information Network.
2019-9-21 22:16 | |
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Overseas Chinese Banking Corporation (OCBC) has joined JP Morgan’s Interbank Information Network (IIN) as the first Singaporean bank in the consortium. Business Times reported that OCBC joins a long list of 112 APAC banks that have joined this network, September 20, 2019.
2019-9-20 19:00 | |
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The US’ largest bank has signed the first lender from cryptocurrency-friendly Singapore to its Blockchain payments platform. OCBC Joins 342 Banks Keen On Quorum In a press release on September 19, JPMorgan Chase confirmed more than 300 banks were now involved in the Interbank Information Network (IIN).
2019-9-20 13:00 | |
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The Rwandan Central Bank is interested in exploring central bank digital currencies to reduce the costs associated with transacting by optimizing efficiency. As per BNN Bloomberg, August 22, 2019, Rwanda’s Central Bank looks to authorities in Canada, Singapore, and Holland for inspiration as they have successfully studied the applications of blockchain.
2019-8-23 11:00 | |
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Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden.
2019-8-15 09:53 | |
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One of the most important banks in the market, Standard Chartered, has recently completed its first transaction using the new Voltron platform. Voltron is a new blockchain platform focused on the oil industry.
2019-8-8 23:12 | |
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By the look of things, Libra will be attracting more regulators than customers. Facebook’s foray into the cryptocurrency world began last month when Libra was unveiled and lawmakers across the world lost it.
2019-7-13 10:00 | |
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Going paperless is seemingly becoming an attractive option. Paper records are often used to carry out activities in banks from lending to signifying ownership. However, forgers are now utilizing it as a means to forge the symbols that make a document legal.
2019-5-7 22:48 | |
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Ripple (XRP) performance dismal, bulls add 1. 3 percent in 24 hours. Despite apparent efficiency, a central bank official said he sees no potential in Ripple An official from Singapore’s MAS is skeptical of retail bank digital currencies capabilities after the country’s Project Ubin linked with Canada’s Project Jasper effecting the first transaction.
2019-5-4 21:00 | |
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Ripple (XRP) performance dismal, bulls add 1. 3 percent in 24 hours. Despite apparent efficiency, a central bank official said he sees no potential in Ripple An official from Singapore’s MAS is skeptical of Ripple’s capabilities after the country’s Project Ubin linked with Canada’s Project Jasper effecting the first transaction.
2019-5-3 21:00 | |
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Bloomberg reports on May 2, 2019, that the Bank of Canada and Monetary Authority of Singapore (MAS) have successfully sent each other digital currencies using blockchain technology. This marks the first instance of such a transaction between two central banks.
2019-5-3 19:00 | |
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By CCN. com: The Bank of Canada and the Monetary Authority of Singapore (MAS) has conducted a successful pilot test of central bank-backed crypto assets to clear cross-border and cross-currency payments.
2019-5-2 14:33 | |
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Central banks in Canada and Singapore claim to have successfully completed a cross-border payment using distributed ledger technology. The Monetary Authority of Singapore (MAS) announced earlier today that it has successfully settled an international payment with The Bank of Canada, in what it refers to as “Project Jasper-Ubin.
2019-5-2 14:03 | |
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Singapore and Canada have managed to send each other a digital transaction without an intermediary
2019-5-2 13:23 | |
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The central banks of Canada and Singapore have for the first time settled cross-border payments using blockchain and central bank digital currencies.
2019-5-2 12:00 | |
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North Korea might be posturing to attack Southeast Area’s growing cryptocurrency sector, and experts say it demands international response to reduce the threat. British defense think-tank Royal United Services Institute (RUSI) has warned countries like Singapore, Thailand, Malaysia, and Vietnam could soon become targets of state-sponsored hackers intent on skirting international economic sanctions, CNBC reports.
2019-4-15 12:56 | |
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The Ultimate Power Group – SWIFT Partners Up With Major Banks While SGX Begins Trials On Blockchain-Backed Voting According to SWIFT, the financial messaging juggernaut, it has officially partnered up with a range of banks across the world, as well as the Singapore Stock Exchange in order to create and subsequently test out a blockchain-based […]
2019-3-7 05:07 | |
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Financial messaging giant Swift has teamed up with Singapore Exchange and several major banks to trial a DLT platform for shareholder voting.
2019-3-6 18:00 | |
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For a number of reasons, a majority of the nations in Southeast Asia have quickly become mainstays in the crypto space. Singapore, whose government has indirectly invested in Binance, is known for its array of industry startups, banks that operate in good faith with Bitcoin traders, and sector events.
2019-2-22 14:35 | |
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The co-founder of Yahoo, Jerry Yang, said hat blockchain is a natural technology for banks and trading activities. He has also talked about how it can succeed and evolve in the future. The comments have been reported by Finews Asia.
2019-1-21 17:07 | |
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Jerry Yang, the Taiwanese-American co-founder of Yahoo, says, despite crypto hype having yet to turn into reality, that blockchain and finance are a natural fit, according to comments first reported by Finews Asia.
2019-1-20 19:44 | |
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Technology lawyer Addison Cameron-Huff launched his new, Toronto-based, all-crypto legal firm on January 3, 2019, Bitcoin’s 10th anniversary, as a statement of his commitment to working for and promoting Bitcoin and cryptocurrency-based businesses.
2019-1-11 21:17 | |
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The pilot was run as part of the Monetary Authority of Singapore's Project Guardian.
Singapore is investigating seven "subjects" for offering services of buying or selling of Worldcoin accounts and tokens which is an offence, a written reply in parliament by the government revealed on Tuesday.
The Major Payment Institution license would allow for the company to offer regulated Digital Payment Token services, such as custody.
Кастодиальный сервис BitGo получил предварительное разрешение Денежно-кредитного управления Сингапура (MAS) на оказание жителям страны услуг, связанных с цифровыми платежами.
The in-principal approval allows Upbit Singapore to continue providing regulated digital payment token services in compliance with the Payment Services Act 2019.
Singapore’s central bank recognized the importance of partnering with industry players to support solutions from emerging technologies like Web3.
The Monetary Authority of Singapore (MAS), the financial regulatory body of Singapore, has published a whitepaper outlining the common standards for the use of digital money. This crypto-friendly act is a testament to the growing adoption of digital assets in the island country of Singapore.