Monetary Authority of Singapore - News, Articles & Research

Singapore shuts down Wirecard operations

Singapore's central bank has ordered Wirecard to cease all business and return all customer funds within the next two weeks.

30 September 2020

Company announcement/startups

MAS doubles down on fintech innovation support

The Monetary Authority of Singapore (MAS) today announced that it will commit S$250 million over the next three years under the enhanced Financial Sector Technology and Innovation Scheme (FSTI 2.0) to accelerate technology and innovation-driven growth in the financial sector.

13 August 2020

News/retail

Singapore establishes Asian Institute of Digital Finance

The Monetary Authority of Singapore is to set up a specialist research institute to groom the next generation of fintech leaders.

04 August 2020

Company announcement/startups

Singapore fintech festival to be week-long hybrid digital and physical event

The Monetary Authority of Singapore (MAS) and Enterprise Singapore announced that the Singapore FinTech Festival (SFF) x Singapore Week of Innovation & TeCHnology (SWITCH) will expand to become the world’s first week-long round-the-clock, hybrid digital and physical event.

03 August 2020

News/payments

MAS ready for live deployment of DLT-led payments

The Monetary Authority of Singapore is looking ahead to live deployment of blockchain technology for multi-currency payments after successfully completing a fifth and final phase of testing with JPMorgan and Temasek.

13 July 2020

Company announcement/regulation

Singapore investigates Citadelle and Senjo Group over Wirecard scandal

The Commercial Affairs Department (CAD) of the Singapore Police Force and the Monetary Authority of Singapore (MAS) have launched a joint investigation into Citadelle Corporate Services Pte Ltd (“Citadelle”), Senjo Group Pte Ltd and its subsidiaries (“Senjo”) for suspected falsification of accounts under the Penal Code (Cap 224), as well as carrying on a trust business without a licence under the Trust Companies Act (Cap 336).

03 July 2020

Company announcement/regulation

MAS keeps watchful eye on Wirecard in Singapore

The Monetary Authority of Singapore (MAS) said today that Wirecard entities in Singapore (“Wirecard”) have complied with MAS’ directions to hold customers’ funds in segregated accounts with banks in Singapore.

01 July 2020

Company announcement/sustainable

MAS consults on environmental risk management guidelines

The Monetary Authority of Singapore (MAS) today issued a set of three consultation papers on its proposed Guidelines on Environmental Risk Management (Guidelines) for banks, insurers and asset managers.

25 June 2020

News/regulation

MAS to review 14 bids for digital bank licences

The Monetary Authority of Singapore is to review 14 successful applicants for five available digital bank licences, in a concerted effort to inject competition into the banking sector by enabling non-bank players with innovative digital business models to offer banking services.

18 June 2020

News/startups

SFA bids to fast-track fintech partnerships with banks

The Singapore FinTech Association has launched a self-assessment framework to help fintech firms fast-track parnerships with financial institutions.

10 June 2020

News/startups

MAS to host $1.25 million Covid-19 and green finance challenge

The Monetary Authority of Singapore has launched a $1.75 million global fintech challenge in search of solutions that can help financial institutions grapple with the existential threats posed by Covid-19 and climate change.

08 June 2020

Company announcement/wholesale

BNY Mellon and MAS launch FX pricing engine

BNY Mellon announced today that it will build a high-performance FX pricing and trading engine in partnership with the Monetary Authority of Singapore (MAS), the latest milestone as the bank continues to enhance its foreign exchange presence in the region.

04 June 2020