The Fintech Times

JULY 19, 2024

Especially as, according to research from triple-a.io, the crypto payments institution, there are over 44 million crypto users in the region. However, exchanges operating within the EU must now comply with the Markets in Crypto-Assets (MiCA) regulation which involves having a hub approved by the European Union.

Regulations 58

Regulations Cryptocurrency Payments Institute Compliance 58

Fintech News

NOVEMBER 7, 2024

Earlier this year, XTransfer achieved notable progress in ASEAN, including executing its first onshore Thai Baht trade in Thailand under revised regulations. Facilitated by Deutsche Bank, the initiative allows Thai buyers to make local payments through PromptPay, which are seamlessly converted for exporters.

Cross-Border Payments 99

Cross-Border Payments Cross-Border Payment Solutions Payments 99

Fintech News

NOVEMBER 4, 2024

Razer Gold has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license. This development marks a major step for the gaming-focused virtual credit platform as it prepares to expand its payment services in Singapore.

Cross-Border 99

Cross-Border Payments Payments Institute On-Demand 99

Fintech News

AUGUST 4, 2024

HashKey Technology Services (HashKey OTC), the over-the-counter trading arm of HashKey Group, has been granted a Major Payment Institution license by the Monetary Authority of Singapore (MAS). This license enables HashKey OTC to provide digital payment token (DPT) services in Singapore.

Payments Institute 95

Payments Institute Payments SWIFT Settlement 95

Fintech News

AUGUST 12, 2024

Crypto custodian BitGo has obtained the Major Payment Institution license from the Monetary Authority of Singapore (MAS). This approval follows an in-principle nod received earlier this year and allows BitGo to offer regulated digital payment token services in Singapore.

Security 107

Security Regulations Payments Institute On-Demand 107

PYMNTS

JANUARY 19, 2017

Geoswift, a provider of cross-border payment solutions between China and the rest of the world, announced Wednesday (Jan. unit, Geoswift UK, has received authorization as a payment institution from the Financial Conduct Authority (FCA). 18) that its U.K.

Payments Institute 40

Payments Institute Authorization Cross-Border Cross-Border Payments 40

Fintech News

JULY 23, 2024

Hex Trust, a Hong Kong-based digital asset custodian, announced it has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. said Calvin Shen, Managing Director, Hex Trust. ” said Alessio Quaglini, Co-Founder and CEO of Hex Trust Group.

Payments 108

Payments Consumer Protection Authorization On-Demand 108

Fintech News

SEPTEMBER 1, 2024

The Singapore subsidiary of crypto exchange OKX has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license allows OKX to offer a broader range of digital payment services in compliance with local regulations.

Payments 117

Payments Regulations Payments Institute Compliance 117

Fintech News

NOVEMBER 3, 2024

Anchorage Digital Singapore, a crypto platform, has obtained a Major Payment Institution license from the Monetary Authority of Singapore (MAS). This licence allows the company to expand its services to include custody, staking, trading, settlement, and fiat on and off ramps for global institutions.

On-Demand 74

On-Demand Settlement Regulations Payments Institute 74

Fintech News

OCTOBER 14, 2024

Aspire, a Singapore-based finance platform for businesses, has secured in-principle approval for a Major Payment Institution license from the Monetary Authority of Singapore (MAS). As a homegrown Singapore company, we are especially proud to receive this recognition from one of the world’s most respected regulators.

Payments 90

Payments International Payments Payments Institute Security 90

Fintech News

JUNE 11, 2024

Ripple, a provider of enterprise blockchain and crypto solutions, has finalised its acquisition of Standard Custody & Trust Company, a regulated digital asset custodian, after securing necessary regulatory approvals. Ripple now has nearly 40 U.S.

Stablecoins 105

Stablecoins Acquirers Regulatory Compliance Central Bank 105

Fintech News

MAY 12, 2024

XREX Singapore, a blockchain-enabled financial institution specialising in cross-border payments, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS).

Cross-Border 106

Cross-Border Cross-Border Payments Travel Rule Regulatory Compliance 106

Fintech News

JULY 1, 2024

Paxos has secured the full approval from the Monetary Authority of Singapore (MAS) to issue stablecoins under the regulator’s upcoming stablecoin framework. This approval allows Paxos to offer digital payment token services through its entity, Paxos Digital Singapore Pte. as a Major Payments Institution.

Stablecoins 105

Stablecoins Regulations Audit Issuers 105

Fintech News

MAY 28, 2024

As part of this expansion, B2C2 shared that it will apply for a Major Payment Institution license from the Monetary Authority of Singapore. Backed by the Japanese financial services group SBI, B2C2 offers credit, deep liquidity, competitive pricing, and market-leading settlement services to institutional clients.

APACS 107

APACS Settlement Advisors Regulations 107

Fintech News

OCTOBER 27, 2024

The Monetary Authority of Singapore (MAS) and the Infocomm Media Development Authority (IMDA) will implement the Shared Responsibility Framework (SRF) for phishing scams on 16 December 2024. FIs have a six-month transition period to comply with this new duty before it becomes enforceable under the SRF.

Phishing 120

Phishing Scams Blocks Authorization 120

Fintech News

JANUARY 24, 2024

On January 14, 2019, the Singapore Parliament passed its comprehensive Payment Services Act (PS Act), replacing the former Payment Systems Oversight Act and Money-Changing and Remittance Businesses Act to broaden the scope of regulated payment activities to include emerging trends and industries like digital assets and cryptocurrencies.

Service Provider 98

Service Provider Cryptocurrency Payments Institute Stablecoins 98

The Fintech Times

AUGUST 5, 2024

Pay2All), a licensed payment institution authorised by the Central Bank of Brazil. The acquisition will allow Nuvei to offer payment services in Brazil as an issuer of electronic currency, gaining Pay2All’s payment licence. Brazil’s iGaming market presents significant growth opportunities for Nuvei.

Payments Institute 58

Payments Institute Central Bank Acquirers Issuers 58

Fintech News

FEBRUARY 28, 2024

HashKey Technology Services, the over-the-counter (OTC) trading division of the HashKey Group , has secured in-principle approval from the Monetary Authority of Singapore (MAS) for its application for a Major Payment Institution license. This license will enable HashKey OTC to provide digital payment token services.

Accreditation 112

Accreditation Regulatory Compliance Settlement Digital Payments 112

Fintech News

MARCH 6, 2024

Cryptocurrency exchange Bitstamp announced it has obtained an in-principle approval from the Monetary Authority of Singapore (MAS) to operate under the Major Payment Institution license. This regulatory milestone allows Bitstamp to offer digital payment token services in compliance with the Payment Services Act in Singapore.

Security 98

Security APACS Regulatory Compliance Compliance 98

Fintech News

APRIL 7, 2024

GSR, a global cryptocurrency trading firm and liquidity provider, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS). located in Singapore, to provide digital payment token services. This license allows its subsidiary, GSR Markets Pte.

Treasury Management 81

Treasury Management APACS Procedures Treasury 81

Fintech News

APRIL 22, 2024

Singapore-based fintech startup Qashier has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This approval positions Qashier to provide merchant acquisition services along with domestic and cross-border money transfer capabilities.

Cross-Border 99

Cross-Border Cross-Border Payments Payments Payments Institute 99

Fintech Finance

MARCH 28, 2024

Alchemy Pay, the leading global Web3 payment solution provider, has revealed its investment in LaPay UK Ltd, a UK-based fintech dedicated to facilitating international business growth for companies. Hong Kong, Singapore, Australia, and South Korea. Hong Kong, Singapore, Australia, and South Korea.

Payment APIs and Integration 97

Payment APIs and Integration API FinTech Security 97

Fintech News

JANUARY 9, 2024

Crypto custodian BitGo announced that its Singapore subsidiary has been granted in-principle approval by the Monetary Authority of Singapore (MAS) for a Major Payment Institution License for digital payment token services.

Web 3.0 103

Web 3.0 APACS Authorization Gateways 103

Fintech News

MARCH 31, 2024

LaPay, which operates under the regulatory oversight of the UK Financial Conduct Authority (FCA) with the license number 914920, represents a key piece in Alchemy Pay ‘s global strategy. UK, Hong Kong, Singapore, Australia, and South Korea.

Web 3.0 91

Web 3.0 Payment APIs and Integration Stablecoins Payments 91

Neopay

SEPTEMBER 30, 2024

The Financial Conduct Authority (FCA) is taking significant steps to ensure that consumer funds in the payments and e-money sectors are better protected. Through their consultation on CP24/20, the FCA is proposing new rules designed to improve the safeguarding regime for payment services firms, e-money institutions, and credit unions.

Credit Union 52

Credit Union Consulting Payments Rules 52

Open Banking Excellence

SEPTEMBER 21, 2023

Regulators will have the power to impose fines of up to 1% of daily turnover for every single day that a company is deemed to be non-compliant, which will be calculated by analysing the previous year’s revenue. Also, DORA directly regulates the systemic suppliers. And achieving compliance can be an easier thing to say than done!

FinTech 130

FinTech Compliance Regulations Non-Bank 130

Fintech Finance

JULY 16, 2024

Through the portal, clients can issue, cancel or reissue payments instantly whilst being able to track payments and download reports. The Open Payments service is provided by PayPoint Payment Services Limited (“PPSL”).

Continuity 96

Continuity Crime Payee Payer 96

Fintech News

JANUARY 9, 2024

The platform, which received its Capital Markets Services and Regulated Market Operator licenses from the Monetary Authority of Singapore in 2023, plans to expand its offerings. In a separate move, AsiaNext is also seeking a major payment institution license to provide digital payment token services through a different subsidiary.

Risk Management 89

Risk Management On-Demand Risk Settlement 89

Fintech News

FEBRUARY 25, 2024

HitPay, a provider of commerce infrastructure for small businesses, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) License. The attainment of the MPI license will enable HitPay to introduce new services aimed at simplifying payment processing for merchants.

Cross-Border 97

Cross-Border Small Business Payments Payments Institute 97

Fintech News

JULY 3, 2024

A snapshot of Singapore’s crypto landscape According to the latest report by Triple-A, a licensed cryptocurrency payment institution, Singapore boasts one of the highest cryptocurrency ownership rates globally. This places the island nation significantly above the worldwide average of 6.8

Financial Literacy 101

Financial Literacy Cryptocurrency Digital Currency Accreditation 101

Fintech News

MARCH 12, 2024

has been accorded in-principle approval for a Major Payment Institution License by the Monetary Authority of Singapore (MAS). This approval will permit OKX to engage in the provision of digital payment token (DPT) and cross-border money transfer services in Singapore, in compliance with the Payment Services Act 2019. .

Cross-Border 107

Cross-Border Regulatory Compliance Best Practices Cryptocurrency 107

The Fintech Times

OCTOBER 10, 2024

In a significant development for the United Arab Emirates’ burgeoning virtual asset market, OKX , a global on-chain technology company, has launched a licensed cryptocurrency exchange for both retail and institutional investors in the UAE. Earlier in the year, OKX entered markets in Brazil, Türkiye, Australia, and the Netherlands.

Risk Management 52

Risk Management Cryptocurrency Legal Framework Blockchain 52

PYMNTS

JULY 9, 2020

The United Kingdom’s financial regulator has toughened rules on payment companies less than two weeks after Wirecard AG’s collapse locked millions of customers out of their accounts, the Financial Times reported. Late last month, the FCA froze the German payment company’s funds as regulators determined the next steps.

Rules 67

Rules Third-Party Service Provider Money Laundering Regulations 67

Neopay

JUNE 3, 2024

In recent years, the process of obtaining authorisation from the Financial Conduct Authority (FCA) has become increasingly stringent. As a result, approval rates have been notably low, particularly in the payments sector where rates were as low as 8%. Unlike tangible assets, there is no standard price for FCA-regulated firms.

Due Diligence 52

Due Diligence Acquirers Regulatory Compliance Compliance 52

Neopay

APRIL 25, 2024

In response to this dynamic evolution (rather than revolution), the European Commission proposed to revamp the Payment Services Directive ( PSD2 ) regime with a new regulatory framework proposed in June 2023 (Payment Services Regulation ( PSR ) and Payment Services Directive ( PSD3 ).

Fraud Prevention 52

Fraud Prevention Payments Authentication Authorization 52

Fintech Finance

FEBRUARY 27, 2024

Issuer processing powerhouse Enfuce today announces it has secured an Electronic Money Institution (EMI) licence from the UK’s Financial Conduct Authority (FCA). With the FCA’s EMI licence, Enfuce will be able to provide electronic money services as well as card issuing and payment solutions directly to new and existing UK customers.

Regulatory Compliance 52

Regulatory Compliance Compliance Accreditation Issuers 52

Neopay

JUNE 27, 2024

That in its the drive to change its reputation to a tougher regulator, it may have not have been properly considering the potential negative impact on some consumer groups and market sectors. To ensure compliance, firms must thoroughly familiarise themselves with the regulations applicable to their business models.

Financial Crimes 52

Financial Crimes Money Laundering Compliance Crime 52