Monetary Authority of Singapore - News, Articles & Research

NY Fed and MAS find promise in CBDC for cross border payments

Distributed ledger technology can be used for cross-border, cross-currency payments between different CBDC ledgers, reducing settlement risk and cutting settlement time, according to research from the Monetary Authority of Singapore and the Federal Reserve Bank of New York.

22 May 2023

News/regulation

MAS lifts DBS capital requirement following wave of outages

The Monetary Authority of Singapore (MAS) has imposed additional capital requirements on DBS, following widespread outages in March and a subsequent disruption to its digital banking and ATM services earlier this month.

11 May 2023

Company announcement/security

US Treasury and MAS conduct cross-border cybersecutiry exercise

The United States Department of the Treasury and the Monetary Authority of Singapore (MAS) have been expanding its collaboration on cybersecurity and operational resilience issues since Vice President Kamala Harris announced the formal partnership and finalization of a bilateral Memorandum of Understanding (“MoU”) on Cybersecurity Cooperation between Treasury and Singapore’s MAS in August 2021.

02 May 2023

Company announcement/retail

MAS launches fintech grant scheme for Singpaore's universities

The Monetary Authority of Singapore (MAS) today announced the launch of the Polytechnic Talent for Finance Scheme to encourage financial institutions to hire and train polytechnic students and graduates.

24 April 2023

Company announcement/startups

Rwanda and Singapore to run inclusive fintech forum

Kigali International Financial Centre (KIFC), Rwanda’s financial centre facilitating international investment and cross-border transactions in Africa, and Elevandi (www.Elevandi.io), a company set up by the Monetary Authority of Singapore (MAS) to advance FinTech in the digital economy, today announced the launch of the first annual Inclusive FinTech Forum, to be held from 20 to 22 June in Kigali, Rwanda.

05 April 2023

Company announcement/cloud

Monetary Authority of Singapore hosts inaugural Financial Sector Cloud Resilience Forum

The Monetary Authority of Singapore (MAS) yesterday hosted the inaugural Financial Sector Cloud Resilience Forum (Forum) for Asia Pacific financial regulators and Cloud Service Providers (CSPs) to exchange views on appropriate public cloud risk management practices for the financial sector.

05 April 2023

News/payments

Singapore and Malaysia launch cross-border QR-code merchant payments

Singapore and Malaysia have linked their payment systems, enabling shoppers to make purchases across borders by scanning QR codes.

31 March 2023

News/regulation

MAS to take action against DBS over "unacceptable" outage

The Monetary Authority of Singapore is to take action against DBS after its second outage in less than two years, describing the disruption to services as "unacceptable".

30 March 2023

Company announcement/payments

Singapore and India link real-time payment systems

The Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI) today launched the linkage between Singapore’s PayNow and India’s Unified Payments Interface (UPI). This will enable customers of participating financial institutions in Singapore and India to send and receive funds between bank accounts or e-wallets across the two countries in real-time.

21 February 2023

Company announcement

Asean central banks sign payments co-operation pact

Bank Indonesia (BI), Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS), and Bank of Thailand (BOT) have agreed to strengthen and enhance cooperation on payment connectivity to support faster, cheaper, more transparent, and more inclusive cross-border payments.

14 November 2022

News/payments

New York Fed and MAS test wCBDC for cross border payments

The Monetary Authority of Singapore and the Federal Reserve Bank of New York are teaming up to explore the use of wholesale CBDCs for cross-border payments.

11 November 2022

News/payments

MAS targets cross-border connectivity in wholesale CBDCs

The Monetary Authority Of Singapore (MAS) is stepping up its work on cross-border foreign exchange settlement using wholesale central bank digital currency.

04 November 2022