Tag: MAS

Quick Breakdown  MAS launches BLOOM to enhance global digital asset settlement using tokenized bank liabilities and stablecoins. The initiative builds on Project Orchid’s successful trials exploring a digital Singapore dollar. Collaborations with Circle, DBS, Stripe, and others aim to advance cross-border payments and financial innovation.   MAS launches BLOOM to ...

Straits Millennium Pte Ltd, a subsidiary of Straits Financial Group, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This license enables the company to provide digital payment token (DPT) services in accordance with the Payment Services Act 2019. The approval ...

BitGo Singapore, a subsidiary of BitGo, Inc., officially launched its operations in the APAC region after securing its Major Payment Institution License from the Monetary Authority of Singapore (MAS) in August 2024.  Youngro Lee, CEO of BitGo Singapore, expressed excitement about the launch, stating,  "We are thrilled to launch BitGo ...

OKX has announced that its local branch, OKX SG Pte. Ltd., has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS). Meanwhile, Gracie Lin, a former official of the regulatory agency, has been appointed as the CEO of OKX SG. According to the press ...

BitGo has secured the Major Payment Institution License from the Monetary Authority of Singapore (MAS), according to a recent press release from the firm.  The license positions BitGo as an authorized entity to offer regulated digital payment token services within Singapore.  According to the release, Singaporeans will benefit from the ...

HashKey Technology Services Pte. Ltd, the over-the-counter trading arm of HashKey Group, has officially received the Major Payment Institution licence from the Monetary Authority of Singapore (MAS).  This licence, granted under the Payment Services Act 2019, authorises HashKey OTC to provide digital payment token (DPT) services, cementing its status as ...

Deutsche Bank, a German multinational investment bank, has announced its collaboration with Singapore's central bank to explore asset tokenization opportunities.  The bank has joined the Monetary Authority of Singapore’s (MAS) Project Guardian initiative, which focuses on tokenizing assets in wholesale funding markets and DeFi applications. The project is a multi-year ...

The Monetary Authority of Singapore (MAS) has issued additional guidelines for digital asset companies in the country to adhere to in a bid to protect end-user interests for customers of digital payment token (DPT) services.  On Tuesday, April 2, 2024, the financial regulator published a press release informing the public ...

The future of the monetary system, as envisioned by Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), will consist of three crucial elements: central bank digital currencies (CBDCs), tokenized bank liabilities, and regulated stablecoins. Menon shared this insight in a panel session on the Future of ...

Popular stablecoin issuer Paxos is set to introduce a new U.S. dollar-backed stablecoin in Singapore, marking a significant step in its global expansion strategy. In an official statement released on November 15, 2023, Paxos revealed that it obtained an in-principle approval from Singapore's top financial regulator, the Monetary Authority of ...