monetary authority
Monetary Authority of Singapore Sets Up New Institute of Digital Finance for Boosting Fintech and Digital Asset Research
The Monetary Authority of Singapore (MAS) has teamed up with the National Research Foundation, and the National University of Singapore to set up a research institute that will develop and support the needs of digital financial services in Asia.
Composite Interest Rate Drops to 2.65% in April 2024, Announces HKMA
The Hong Kong Monetary Authority reveals a decrease in the composite interest rate for April 2024.
Hong Kong Monetary Authority's Project mBridge Achieves MVP Milestone
Project mBridge reaches MVP stage, exploring CBDCs for cross-border payments.
Hong Kong Monetary Authority Announces Results of RMB Bills Tender
The Hong Kong Monetary Authority revealed the results of the People’s Bank of China RMB Bills tender held on June 19, 2024.
Hong Kong Monetary Authority Releases Reports on DeFi and Metaverse in Finance
The Hong Kong Monetary Authority has published reports on DeFi and the metaverse, analyzing their impact and regulatory landscape in the financial services industry.
HKMA Announces Senior Staff Changes: Raymond Li to Retire, Colin Pou to Succeed
The Hong Kong Monetary Authority (HKMA) announces the retirement of Raymond Li and the succession by Colin Pou. Open recruitment for the Executive Director role will follow.
Hong Kong Mortgage Applications Drop by 17.2% in June 2024, HKMA Reports
The Hong Kong Monetary Authority (HKMA) reports a 17.2% decline in mortgage applications for June 2024, with significant decreases in loan approvals.
Hong Kong Monetary Authority Reports Decline in Negative Equity Mortgage Loans for June 2024
The Hong Kong Monetary Authority's survey reveals a decrease in residential mortgage loans (RMLs) in negative equity by end of June 2024.
Hong Kong Monetary Authority Announces 5.00% Interest Rate for Silver Bond Series Due 2026
The Hong Kong Monetary Authority has set the annual interest rate for the second interest payment of the Silver Bond Series due 2026 at 5.00%.
Hong Kong Monetary Authority Announces FPS Downtime for System Enhancement
Hong Kong Monetary Authority plans a system enhancement for the Faster Payment System (FPS) on August 18, 2024, causing a temporary service outage.
Hong Kong Monetary Authority Announces Results of RMB Sovereign Bond Tenders
The Hong Kong Monetary Authority has revealed the outcomes of the RMB Sovereign Bond tenders held on 14 August 2024.
Hong Kong Monetary Authority Announces Tender of 2-Year Exchange Fund Notes
The Hong Kong Monetary Authority (HKMA) will hold a tender for 2-year Exchange Fund Notes on 21 August 2024, with a settlement date on 22 August 2024.
Hong Kong Monetary Authority Warns of Fraudulent DBS Bank Website and Social Media Page
The HKMA alerts the public about a fraudulent website and social media page linked to DBS Bank (Hong Kong) Limited.
Hong Kong Monetary Authority Reviews Currency Board Operations Amidst Global Economic Divergence
The Hong Kong Monetary Authority (HKMA) discusses the stability of the HKD and economic challenges in its latest Currency Board Sub-Committee meeting.
Hong Kong Monetary Authority Announces Decrease in Composite Interest Rate for July 2024
The Hong Kong Monetary Authority reports a decrease in the composite interest rate to 2.58% at the end of July 2024.
Hong Kong Monetary Authority Reports 0.6% Increase in Total Deposits for July 2024
The Hong Kong Monetary Authority reported a 0.6% increase in total deposits in July 2024, with notable changes in various deposit categories.
HKMA Imposes Penalty on WeChat Pay Hong Kong for AML Failures
The Hong Kong Monetary Authority has fined WeChat Pay Hong Kong Limited HK$875,000 for contravening anti-money laundering regulations.
Hong Kong Monetary Authority Sets 4.00% Interest Rate for Silver Bond Series
The Hong Kong Monetary Authority announced a 4.00% interest rate for the fourth payment of the Silver Bond Series due 2025.
Hong Kong Monetary Authority Suspends Registration of LI Shek Tang for Nine Months
The Hong Kong Monetary Authority has suspended the registration of LI Shek Tang for nine months due to misconduct involving the fabrication of a client's signature.
PBOC to Issue Renminbi Bills via Hong Kong Monetary Authority's Central Moneymarkets Unit
The People's Bank of China is set to issue Renminbi Bills through the Central Moneymarkets Unit of the Hong Kong Monetary Authority.
Hong Kong Monetary Authority Announces Interest Rate for Retail Green Bonds Due 2026
The Hong Kong Monetary Authority has set the interest rate for the second interest payment on retail green bonds due 2026 at 4.75% per annum.
Hong Kong Monetary Authority Announces Results of RMB Sovereign Bond Tender
The Hong Kong Monetary Authority disclosed the results of its RMB sovereign bond tender held on October 16, 2024, revealing significant interest in its 2-year bonds.
HKMA Warns Against Fraudulent Websites Targeting Bank Julius Baer Clients
The Hong Kong Monetary Authority alerts the public about fraudulent websites and phishing messages impersonating Bank Julius Baer, urging caution and reporting of suspicious activities.
HKMA Announces Results of 3-Year HKD Government Bond Tender
The Hong Kong Monetary Authority revealed the results of its 3-year HKD government bond tender, with a bid-to-cover ratio of 3.89 and an annualized yield of 2.952%.
Hong Kong Monetary Authority Reports 0.8% Increase in Deposits for September 2024
Hong Kong Monetary Authority's September 2024 data reveals a 0.8% rise in total deposits, with Hong Kong dollar and foreign currency deposits contributing to this growth.
Hong Kong Monetary Authority Grants Banking Licences to GIL and KGIB
The Hong Kong Monetary Authority has granted banking licences to Guanyin International Limited and KGI Bank Co., Ltd., increasing the total number of licensed banks in Hong Kong to 151.
Hong Kong Monetary Authority Announces Tender for 2-Year Exchange Fund Notes
The HKMA will conduct a tender for 2-year Exchange Fund Notes on November 22, 2024, offering HK$1,200 million worth of notes with a 3.19% interest rate.
Hong Kong Monetary Authority Warns of Fraudulent Websites Targeting China Construction Bank Customers
The Hong Kong Monetary Authority alerts the public about fraudulent websites imitating China Construction Bank's online services, urging caution and immediate reporting of suspicious activities.
HKMA Warns Public of Fraudulent Website Linked to ICBC (Asia)
The Hong Kong Monetary Authority alerts the public about a fraudulent website and internet banking login screen related to Industrial and Commercial Bank of China (Asia) Limited.
Hong Kong Monetary Authority Announces Results of RMB Sovereign Bond Tenders
The Hong Kong Monetary Authority has released the results of the RMB Sovereign Bond tenders conducted on December 11, 2024, showcasing the issuance of 2-year RMB Bonds.
HKMA Warns Against Fraudulent Banking Websites Linked to Nanyang Commercial Bank
The Hong Kong Monetary Authority alerts the public to fraudulent websites impersonating Nanyang Commercial Bank, urging caution in sharing personal information online.
Hong Kong Monetary Authority Proposes Key Enhancements to Banking Ordinance
The Hong Kong Monetary Authority has opened a public consultation on proposed amendments to the Banking Ordinance, aiming to strengthen regulatory frameworks and enhance banking stability.
HKMA Warns of Fraudulent Online Banking Sites Linked to Shanghai Commercial Bank
The Hong Kong Monetary Authority alerts the public about fraudulent websites and banking login screens impersonating Shanghai Commercial Bank Limited, urging caution and immediate reporting of suspicious activities.
Singapore Financial Regulator Says Crypto Rules Must Be Strict but Clear
Singapore Central Bank calls for clarity but maintains strict crypto regulations.
Hong Kong Embraces Virtual Asset Spot ETFs
Hong Kong is set to become the first market in Asia to allow Virtual Asset Spot ETFs, with around ten fund companies preparing for launch. This move signifies a major shift in the region's approach to virtual assets.
MAS Proposes Open and Interoperable Framework for Digital Asset Networks
The Monetary Authority of Singapore (MAS) has unveiled a comprehensive report introducing a framework for the design of open and interoperable networks for digital assets.
Ripple Gains Major Payments Institution License from Singapore's Monetary Authority
Ripple, a leading enterprise in blockchain and crypto solutions, has secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). This follows the in-principle approval granted to Ripple in June 2023. The license will enable Ripple to continue offering regulated digital payment token services in Singapore, a key market for the company.
Singapore Regulator Considers Strengthening Safeguards on Crypto Access to Retail Trading
Singapore Central Bank considers updating its crypto regulations to strengthen system safeguards that financial firms must put in place to protect users.
BitGo Secures MPI License Approval in Singapore
BitGo has received in-principle approval for a Major Payment Institution (MPI) license from Singapore's MAS, allowing it to expand its crypto services in the region. This aligns with Singapore's robust regulatory standards and BitGo's commitment to security in digital asset transactions.
MAS Announces Project Ubin’s Successful International Settlement Network in its Final Phase Report
The Monetary Authority of Singapore (MAS) and government-owned conglomerate Temasek released the final report of the Singaporean CBDC project, Project Ubin. The report is the fifth and final phase of Project Ubin, Singapore’s blockchain-based multi-currency payments network prototype that was built for the financial industry and blockchain ecosystem.
Coinbase Secures Major Payment Institution License from Singapore's Monetary Authority
Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone in its expansion into the Asian market. The license will enable Coinbase to offer digital payment token services to both individual and institutional clients in Singapore. This move aligns with the company's strategy to tap into Singapore's growing crypto and Web3 ecosystem.
MAS Completes CBDC Project Ubin Phase 5, Blockchain Sector Sees Major Growth Despite COVID-19
Sopnendu Mohanty, the Chief FinTech Officer at the Monetary Authority of Singapore (MAS) announced that Phase 5 of Project Ubin has been completed, and partners of the project are already working on a production in the payments space. A new report is to be expected in the next few days, which will “articulate the last phase of experimentation of Project Ubin.” He hinted that the production is related to exchange, settlement, and will be working on releasing production inspired by Project Ubin Phase 5.
Sygnum Singapore Secures MPI License from MAS
Sygnum Singapore’s acquisition of a Major Payment Institution Licence from the Monetary Authority of Singapore comes amidst a wave of similar regulatory approvals by entities like Coinbase, Blockchain.com, and Crypto.com. This development broadens Sygnum's service offerings and positions it strongly in a competitive yet regulated digital asset market landscape in Singapore, thereby potentially attracting a wider segment of institutional clientele.
Hong Kong Monetary Authority Emphasizes AI and DLT in Fintech Roadmap
The Hong Kong Monetary Authority (HKMA) has released a Fintech Promotion Roadmap, aiming to promote fintech adoption in the financial services industry. The roadmap includes key fintech sectors like Wealthtech, Insurtech, and Greentech, and introduces AI and DLT. It aligns with HKMA's "Fintech 2025" strategy.
GSR Secures Major Payment Institution Licence from Singapore's MAS
GSR, a global cryptocurrency trading firm, has received In-Principle Approval for a Major Payment Institution licence from the Monetary Authority of Singapore (MAS). The approval allows GSR's Singapore subsidiary, GSR Markets Pte. Ltd., to better serve the cryptocurrency community. The news comes a day after Coinbase Singapore announced its full licence, highlighting the competitive yet regulated crypto landscape in Singapore.
Upbit Singapore Acquires Preliminary MAS Approval for Major Payment Institution Licence
Upbit Singapore has received an in-principle approval for a Major Payment Institution licence from the Monetary Authority of Singapore, a significant step towards establishing a stronger digital asset business in Singapore. This provisional approval will enable Upbit Singapore to continue offering regulated Digital Payment Token services as per the Payment Services Act 2019 while awaiting the full license.
Coinbase and Binance Amongst the 70 Crypto Firms Awaiting Licensing, Said by MAS
American cryptocurrency trading platform, Coinbase and Binance exchange, two of the world’s largest digital currency brokerages are notably amongst the few platforms awaiting license approval from the Monetary Authority of Singapore (MAS).
Singapore’s Financial Regulator Puts Binance On Investor Alert List
The Monetary Authority of Singapore (MAS) has placed Binance exchange on investor alert list, a measure that aims to tell consumers that the exchange is not authorized to offer trading services in the country.
Blockchain Brings Monetary and Financial Freedom
We look at three key aspects (money form, money issuance, and the flow of money) of our monetary and financial system where the blockchain technology may have a major impact
Fighting for Monetary and Financial Freedom
We look at three key aspects (money form, money issuance, and the flow of money) of our monetary and financial system where the blockchain technology may have a major impact
World First Crypto Bank Sygnum Receives Approval To Offer Banking Services In Singapore
Sygnum has been granted approval by the Monetary Authority of Singapore (MAS) to operate digital markets/banking services in the country
ConsenSys Picked to Help Develop Phase 2 of Hong Kong's CBDC Project
Blockchain firm ConsenSys has revealed that it has been awarded a cross-border payment network study project by the Hong Kong Monetary Authority (HKMA)
Singapore Payment Services Act Now in Effect For Crypto Firms
The Monetary Authority of Singapore now requires cryptocurrency providers and exchanges to be licensed under some of the same regulatory elements as traditional financial service providers.
The Reserve Bank of India Has its Eyes on CBDC
The Governor of the Reserve Bank of India says the monetary authority is “very much in the game” to launch a CBDC.
Ex-Chief Executive of the HKMA Establishes Digital Wallet Firm to Solve Issues in Cross-Border Trade Finance
The former Chief Executive of the Hong Kong Monetary Authority (HKMA) has established a new digital wallet company, RD Wallet Technologies Limited.
Singapore's Central Bank Paves the Way for Regulatory Oversight of Cryptocurrency Derivatives Trading
The Monetary Authority of Singapore (MAS) has revealed regulatory plans to permit the trading of cryptocurrency derivatives on select platforms. This oversight strategy is being fronted because investors are considerably favoring these products.
Winklevoss Twins' Gemini and Archax Exchange Now Licensed by UK Financial Conduct Authority
The UK Financial Conduct Authority has granted a license to the Winklevoss twins’ Gemini cryptocurrency exchange.
Leading Asian Fintech Company WeLab Completes the Largest Ever Fintech Fundraising in China
Leading fintech company, WeLab announced on Dec. 12 that it has raised US$156 million in Series C of strategic financing, becoming the largest fintech fundraising in China so far. WeLab was one of the first virtual banks established in Hong Kong, after receiving a virtual banking license from Hong Kong’s de facto central bank, the Hong Kong Monetary Authority (HKMA) in April 2019.
MAS Proposes New Regulations to Tighten Crypto Business Activities
The Monetary Authority of Singapore (MAS) has published a consultation paper proposing a new set of regulations that may stiffen the emergence and activities of crypto industries in the country. Despite the proactive strides of the MAS towards the development of the country’s central bank digital currency (CBDC), the apex bank is set to reinforce its regulations on digital currencies.