
Becoming A Smart Financial Centre: MAS Invests S$250M For Workforce, Innovation In Fintech
Monetary Authority of Singapore (MAS) announced that it will be committing S$250 million to enhance the Financial Sector Technology and Innovation Scheme.
Monetary Authority of Singapore (MAS) announced that it will be committing S$250 million to enhance the Financial Sector Technology and Innovation Scheme.
Following the Covid-19 outbreak, the volume of applications for relief measures in the last two months has increased by more than 10 times.
The Monetary Authority of Singapore announced a $125 million support package to help banks and fintech firms hire and train talent, and adopt digital tools.
With players like Grab, Razer and Sea, those hoping to snag a digital bank license come from diverse fields and could have interesting things to offer.
MAS' prototype network could help improve cost efficiencies for businesses as it makes cross-border payments cheaper and safer.
After securing a conditional bank licence in Switzerland, Sygnum is looking to do the same in Singapore in order to offer digital asset management services.
MAS' Sandbox Express will also have a longer duration of 9 months, to give Singapore fintech firms more time to overcome challenges.
Razer has expressed interest in the MAS Digital Bank License, which will let firms fulfill all their transactions and banking-related services online.
The Monetary Authority of Singapore (MAS) has decided to allow non-bank firms to set up digital banks, and will issue up to five licenses.
The Monetary Authority of Singapore (MAS) believes there's potential for Facebook's cryptocurrency, Libra, but will need to consider regulations first.
Grab is exploring to apply for a license if the MAS decides to approve digital-only banks in Singapore.
These e-ICs are almost as cool as Samsung Pay.