Singapore

Crypto / Digital Assets

Swift Payment Network Piloted for Tokenised Fund Settlements

By Editors | 07/11/2024

The pilot used the payment orchestration capabilities of existing Swift infrastructure to settle fund subscriptions and redemptions.

AML / KYC

Singapore Publishes Proliferation Financing NRA and CPF Strategy

By Manesh Samtani | 07/11/2024

The document describes the PF risks Singapore faces, as well as its regulatory framework, risk mitigation measures, and national strategy to combat PF risks.

Crypto / Digital Assets

ADDX, ANZ to Pilot Tokenised Commercial Paper Using Chainlink CCIP

By Nithya Subramanian | 07/11/2024

Commercial paper was chosen due to its short-term nature, which makes it possible to showcase the entire asset lifecycle within the pilot.

Fintech / Regtech

New Project Nexus Entity to be Established in Singapore

By Editors | 07/11/2024

The new management entity will oversee the live implementation of the Nexus operational model, which involves linking instant payment systems.

AML / KYC

MAS Announces Key Decisions on New AML Framework for SFOs

By Manesh Samtani | 07/11/2024

MAS has extended the timelines for single family offices to submit initial notifications and annual reports. The transitional period will be 1 year instead of 6 months.

AML / KYC

Singapore Court Jails Former Company Director for Money Laundering

By Nithya Subramanian | 07/11/2024

The former director allowed a Chinese money laundering syndicate to use company accounts in Singapore to receive proceeds of criminal conduct.

Crypto / Digital Assets

FCA, MAS to Explore Regulatory Considerations for Tokenisation

By Manesh Samtani | 07/11/2024

The FCA and ICMA welcomed reports released by MAS this week offering tokenisation frameworks for funds and fixed income securities.

ESG / Sustainability

Singapore: Gprnt Launches New Sustainability Reporting Tools

By Nithya Subramanian | 06/11/2024

A new Disclosure tool will simplify sustainability reporting for businesses while a new Marketplace will enable them to connect to an ecosystem of sustainability solutions.

Fintech / Regtech

MAS, BdF Complete Joint Experiment on Post Quantum Cryptography

By Editors | 06/11/2024

The experiment tested the use of quantum-resistant cryptographic algorithms for email communications. The next phase will focus on payments.