Showing 4218 Documents for "DPT service"
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- MAS
- Consultations
Last revised date:
- Virtual currency (digital payment token) services.
- (i) Question 22: Transitional arrangements The transitional grace period will be extended from six months to 12 months for all payment services except digital payment token services. 7 -------- RESPONSE TO FEEDBACK RECEIVED ON THE PROPOSED PAYMENT SERVICES BILL 19 November
- MAS
- Consultations
Last revised date:
- and digital payment token services should also be included as pre- defined sandboxes.
- Including digital payment token services within the express sandbox is also justified, on the condition that there are certain limitations as to the service being provided.
- For these reasons, I propose the addition of merchant acquisition services, account issuance services and a limited scope of digital payment token services to be included as pre- defined sandboxes.
- MAS
- Monographs/Information Papers
Last revised date:
- MAS partnering with R3, a DLT company, and a consortium of financial institutions on a proof-of-concept project to conduct inter-bank payments using Blockchain technology. The consortium includes the following financial institutions: ul { margin-left: 40px; padding-left: 40px; } Bank of America Merrill Lynch Credit Suisse DBS Bank Hongkong and Shanghai Banking Corporation (HSBC) Limited JP Morgan Mitsubishi UFJ Financial Group OCBC R3 Singapore Exchange (SGX) United Overseas Bank (UOB
- MAS
- Media Releases
Last revised date:
- Singapore, 9 March 2017… The Monetary Authority of Singapore (MAS) today announced the successful conclusion of the proof-of-concept project to conduct domestic inter-bank payments using distributed ledger technology (DLT). The project, in partnership with R3 1 and a consortium 2 of financial institutions, was first announced on 16 November 2016 by MAS. 2. The project has achieved the objectives of producing a digital representation of the Singapore dollar for interbank settlement, testing methods
- MAS
- Monographs/Information Papers
Last revised date:
- Project Dunbar proved that financial institutions could use CBDCs issued by participating central banks to transact directly with each other on a shared platform. This has the potential to reduce reliance on intermediaries and, correspondingly, the costs and time taken to process cross-border transactions. The project identified three critical questions: which entities should be allowed to hold and transact with CBDCs issued on the platform? How could the flow of cross-border payments be simplified
- MAS
- Monographs/Information Papers
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- The Monetary Authority of Singapore (MAS) and Banque de France (BdF) jointly experimented on wholesale cross-border payment and settlement using central bank digital currency (CBDC). The experiment, supported by J.P. Morgan’s Onyx, simulated cross-border transactions involving multiple CBDCs (m-CBDC) on a common network between Singapore and France. This is the first m-CBDC experiment that applied automated market making and liquidity management capabilities to reap cross-border payment and settlement
- MAS
- Media Releases
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- Singapore, 25 November 2020... The Monetary Authority of Singapore (MAS) announced today the 20 finalists for the 2020 Global FinTech Hackcelerator. The finalists this year comprise several unique solutions that seek to drive positive social and environmental impact within the financial sector, in response to the challenges posed by COVID-19 and climate change. The Global FinTech Hackcelerator identifies innovative market-ready solutions to address real industry needs. The finalists will pitch their
- MAS
- Monographs/Information Papers
Last revised date:
- Token (DPT) service providers operating in Singapore to be licensed.
- MAS has enhanced our surveillance capabilities to proactively detect DPT service providers that operate illegally in Singapore. This involves analysing a wide range of datasets, including information from public sources.
- Proactive detection of misconduct ˃ DPT service providers that operate illegally in Singapore without a licence ˃ Potential mis-selling and other forms of misconduct in the FA industry Early intervention to mitigate risks and potential harm to investors and consumers Long-term goal for industry
- MAS
- Speeches
Last revised date:
- Today, the Monetary Authority of Singapore will be issuing in-principle approvals to three additional digital payment token service licence applicants. 23. Singapore remains keen to work with blockchain and digital asset players. a.
- In the past two years, Singapore granted licenses and in-principle approvals to 11 digital payment token service providers. These include stablecoin players, crypto exchanges, and traditional financial institutions. c. We continue to assess new applications.
- MAS
- Speeches
Last revised date:
- The Honourable Chief Justice Sundaresh Menon, The Honourable Justice Lee Seiu Kin, Distinguished guests, ladies and gentlemen, good morning. And to all our foreign guests, a warm welcome to Singapore. "The Geeks Shall Inherit the Earth” Technology is changing the way we live, work, and play. Robots and unmanned drones are becoming more common. Robotic cleaners like iRobot have lightened the load of household chores. Pizza restaurants in cities ranging from Mumbai to Moscow have started to deliver