Regulators in Singapore have given a license to cryptocurrency market maker GSR Markets. As Bloomberg News noted in a report late Wednesday (April 3), the move is a rare one for the digital asset space, where liquidity providers such as GSR still — in most cases — function...
We could be witnessing the twilight of private cryptocurrencies, says one of Singapore’s top central bankers. Monetary Authority of Singapore (MAS) Managing Director Ravi Menon argued Tuesday (Nov. 28) that private crypto will eventually be replaced by a monetary system ruled by central bank digital currencies (CBDCs), “well-regulated” stablecoins and...
The Monetary Authority of Singapore (MAS) has unveiled a series of initiatives aimed at ensuring the secure and innovative utilization of digital money in the country. These initiatives encompass the development of a digital Singapore dollar infrastructure, expanding digital money trials, and the issuance of a “live”...
Citi has created an application that uses blockchain to execute foreign exchange (FX) trades. The new tool, announced Wednesday (Nov. 14), employs blockchain infrastructure to price and perform bilateral spot FX trades, and was developed for the Monetary Authority of Singapore’s (MAS) Project Guardian, a collaborative initiative by the...
January 03, 2020
In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. “The new digital bank licenses mark the next chapter in Singapore’s banking liberalization journey,” said Tharman Shanmugaratnam, senior minister and chairman of […]
April 08, 2024
Money transfer firm TerraPay received a major payment institution license in Singapore. The approval by the Monetary Authority of Singapore means that TerraPay is either licensed or approved in 30 markets around the world, according to a Monday (April 8) press release. “As the heart of thriving international trade and commerce, Singapore has always been a strategic location for TerraPay,” […]
April 04, 2024
Regulators in Singapore have given a license to cryptocurrency market maker GSR Markets. As Bloomberg News noted in a report late Wednesday (April 3), the move is a rare one for the digital...
November 28, 2023
We could be witnessing the twilight of private cryptocurrencies, says one of Singapore’s top central bankers. Monetary Authority of Singapore (MAS) Managing Director Ravi Menon argued Tuesday (Nov. 28) that private crypto will eventually...
November 16, 2023
The Monetary Authority of Singapore (MAS) has unveiled a series of initiatives aimed at ensuring the secure and innovative utilization of digital money in the country. These initiatives encompass the development of...
