List of Licensed Crypto Services Providers in Singapore
Jan 25, 2024 · Singapore’s Payment Services Act licensing framework for payment service providers, Source: Deloitte, 2019 . Since the PS Act came into effect on January 28, 2020, the Monetary Authority of Singapore (MAS) has received over 580 applications for payment services licenses and completed the review of more than half of them, MAS board member Alvin Tan said on April 4, 2022.
Trust Bank Unveils New Cashback Credit Card on 2nd Anniversary …
Aug 29, 2024 · Until the end of 2024, new customers can receive an unlimited 1.5% cashback on all spending, while existing customers will receive 1%. The bank has grown its customer base to over 800,000. Trust Bank’s Credit card has recorded over S$4.5 billion in transactions since its launch. Customer deposits have reached S$3 billion by the end of June ...
What's Next For Digital Insurer Singlife After Its Merger With Aviva ...
Jan 28, 2021 · 2020 was a good year for Singapore’s digital life insurer Singlife. The company completed its S$3.2 billion merger deal with Aviva Singapore, the largest transaction ever in the Singaporean insurance sector. It also launched the Singlife Account, a mobile-first insurances savings account, which rapidly gained popularity and now counts almost 80,000 customers.
6 Key Takeaways From MAS’ New Technology Risk ... - Fintech …
Mar 24, 2021 · Here are some of our key takeaways from the 2021 version of the TRM guidelines: 1. More focus on the board of directors and senior management being able to understand and manage technology risk, including cyber risk. Both the 2013 and 2021 guidelines require the board of directors and senior management (BSM) to ensure that a TRM framework is ...
TOP 20 FINTECH STARTUPS IN SINGAPORE
Nium is valued at US$1.4 Billion with latest US$50 million Series E fundraise led by a sovereign wealth fund in Southeast Asia and includes previous investors BOND, NewView Capital, and Tribe Capital. Nium’s payout network supports 100 currencies and spans 220+ countries, 100 of which are in real-time, and funds can be disbursed to accounts ...
A Deep Dive Into the Fintech Portfolio of Singapore’s GIC
May 16, 2023 · Coda Payments. Singapore-based Coda Payments secured a record-breaking investment of US$690 million in 2022, from Singapore’s sovereign wealth fund GIC, alongside American firms Insight Partners and Smash Capital. This investment catapulted the valuation of the online gaming payments platform to an impressive US$2.5 billion.
Aspire Achieves Profitability, Eyes Broader APAC and Team …
Jun 6, 2023 · In the past 12 months, the company tripled its yearly revenues, hitting profitability in the second quarter of 2023 and US$15 million of annualised total payment volumes. Looking forwrad, Aspire is eyeing expansion plans in Southeast Asia and broader APAC. The fintech is also looking to grow its team of over 400 as it is actively hiring for 50 ...
MAS Threatens Supervisory Action if Banks Exceed 4 Hours of …
Jul 6, 2022 · It requires banks to be able to recover systems supporting critical banking services such as fund transfers and payments services within four hours following any disruption. In addition, the total unscheduled downtime for each critical system must not exceed four hours within any 12-month period. MAS takes supervisory action when the banks ...
Project Ubin: Exploring Singapore’s Digital Currency Project
Jun 21, 2021 · Project Ubin draws from the experience of Project Jasper, a similar project that was launched in Canada in 2016. MAS and BoC eventually joined forces and linked their respective experimental domestic payment networks. In May 2019, they announced a successful experiment on cross-border and cross-currency payments using CDBCs.
Cross Border Payments Startup Wallex Technologies Receives …
Jun 16, 2020 · Wallex Technologies, a fintech startup headquartered in Singapore focused on serving FX and cross border payment needs of SMEs, announced that it closed its Series A funding led by BAce Capital, SMDV and Skystar Capital.