Singaporean authority licenses two companies to provide digital payment services
The Monetary Authority of Singapore (MAS), Singapore’s main financial regulator, has allowed DBSV and Independent Reserve companies to provide cryptocurrency and digital payment services in the country. Under the Payment Services Act, the MAS granted Independent Reserve and DBS Bank ‘s brokerage arm, DBS Vickers (DBSV), licenses to conduct digital payment token services on October […]
Monetary Authority of Singapore shortlists 15 companies to develop retail CBDC
The Monetary Authority of Singapore (MAS) has chosen 15 participants in the “Global CBDC Challenge” to assist in the development of a retail CBDC. In the end, only three winners will be chosen for deploying a retail CBDC in Singapore. Six businesses from Singapore, four from the United States, and one each from Australia, Barbados, […]
The central bank of Singapore is awarding cash prizes for innovative digital currency concepts
The Singapore Monetary Authority, the country’s central bank and a major financial regulator, has issued a challenge to fintech businesses to propose solutions for a central bank digital currency or CBDC. The central bank of Singapore launched a global challenge on Monday to find new retail CBDC solutions that improve payment efficiency and promote financial […]