We could be witnessing the twilight of private cryptocurrencies, says one of Singapore’s top central bankers. Monetary Authority of Singapore (MAS) Managing Director Ravi Menon argued Tuesday (Nov. 28) that private crypto will eventually be replaced by a monetary system ruled by central bank digital currencies (CBDCs), “well-regulated” stablecoins and...
The Monetary Authority of Singapore (MAS) has unveiled a series of initiatives aimed at ensuring the secure and innovative utilization of digital money in the country. These initiatives encompass the development of a digital Singapore dollar infrastructure, expanding digital money trials, and the issuance of a “live”...
Citi has created an application that uses blockchain to execute foreign exchange (FX) trades. The new tool, announced Wednesday (Nov. 14), employs blockchain infrastructure to price and perform bilateral spot FX trades, and was developed for the Monetary Authority of Singapore’s (MAS) Project Guardian, a collaborative initiative by the...
The Monetary Authority of Singapore (MAS) has debuted Ubin+, a program to test the use of a wholesale central bank digital currency (CBDC) for cross-border foreign exchange settlement. According to a Thursday (Nov. 3) news release, Ubin+ will study “business models and governance structures for...
January 03, 2020
In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. “The new digital bank licenses mark the next chapter in Singapore’s banking liberalization journey,” said Tharman Shanmugaratnam, senior minister and chairman of […]
September 02, 2024
Cryptocurrency exchange OKX has appointed Grab executive Gracie Lin as CEO of its Singapore operations. The company announced the hiring Monday (Sept. 2), while also noting that its Singapore entity had been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore, letting it offer digital payment token and cross-border money transfer […]
November 28, 2023
We could be witnessing the twilight of private cryptocurrencies, says one of Singapore’s top central bankers. Monetary Authority of Singapore (MAS) Managing Director Ravi Menon argued Tuesday (Nov. 28) that private crypto will eventually...
November 16, 2023
The Monetary Authority of Singapore (MAS) has unveiled a series of initiatives aimed at ensuring the secure and innovative utilization of digital money in the country. These initiatives encompass the development of...
November 15, 2023
Citi has created an application that uses blockchain to execute foreign exchange (FX) trades. The new tool, announced Wednesday (Nov. 14), employs blockchain infrastructure to price and perform bilateral spot FX trades, and...
