Used as a transfer mechanism rather than a currency, bitcoin circumvents banks’ transaction fees.
State investor Temasek Holdings owns a nearly 30 percent stake in DBS.
Britain leaving the European Union is opening up an opportunity for Singapore to recruit talent for its ambitious plans to become a leading financial technology hub
In a major move to explore the use of digital currency in Singapore, the city state’s central bank plans to launch a pilot project with the country’s stock exchange and eight local and foreign banks to use blockchain technology for interbank payments.
Singapore’s central bank is looking to ease regulation for venture capital (VC) investors next year in a further push to boost the financial technology industry, deputy Prime Minister Tharman Shanmugaratnam said on Thursday. The wealthy city-state is one of the world’s leading finance centres and aims to become an important… Read more »
“There is no doubt that the recent findings have made a dent in our reputation as a clean and trusted financial centre,” Ravi Menon, managing director of the Monetary Authority of Singapore, said. MAS is determined to fix the problem, working together with the industry.”
Singapore authorities have seized assets worth S$240 million($176.82 million) in an investigation of 1MDB-related fund flows for possible money laundering.
Singapore sovereign investor GIC said on Wednesday it has invested in a real estate fund which acquired the Hyundai Logistics Distribution Center in Incheon, South Korea, from its developer LogisKowel for $130 million.
State funding, light-touch regulation and a recent move to allow start-ups to test financial products in a controlled environment have put Singapore ahead of rival Hong Kong to be Asia’s fintech hotspot.
The private banking unit of Singapore’s second-biggest lender OCBC is exploring launching an onshore presence in China either with a domestic partner or on its own, its CEO told the Reuters Global Wealth Management Summit on Thursday. Regional and global banks have been cautious about setting up a local private… Read more »