Singapore’s Central Bank Creates Financial Tech Partnerships
Singapore has become a hotbed for financial technology and blockchain innovation. This week, the Monetary Authority of Singapore (MAS) has conceived two joint ventures that aim to progress blockchain research and development in Southeast Asia. Monetary Authority of Singapore & Government of Andhra Pradesh Partner in a Blockchain Joint Venture.....
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Andhra Pradesh, an Indian state located in the south of the country and the Monetary Authority of Singapore (MAS), the country’s central bank, have announced a partnership that will aim to promote Fintech innovation with a focus on blockchain and digital payments. Signed on Saturday in India, the “Fintech Cooperation Agreement” will see the MAS, Singapore’s financial regulator and central bank, partner Andhra Pradesh, a state known for its pro-tech ideologies with a history of welcoming foreign investment and partnerships to set up infrastructure within its state boundaries. A press....
Prominent enterprise blockchain startup R3 has collaborated with the Monetary Authority of Singapore (MAS) to launch an exclusive blockchain lab in the country. According to a press release, the ‘R3 Asia Lab’ will be the supported by the MAS – Singapore’s central bank and financial regulatory authority, to enable a collaborative effort between competing banks and financial institutions that focuses on blockchain-based solutions. Furthermore, the R3 Asia Lab will also “accommodate visiting specialist DLT (distributed ledger technology) technologists, innovators and business leaders.”....
New York-based blockchain startup R3, known for spearheading an international banking-based blockchain consortium has reportedly called on Sri Lanka’s central bank to join the working group. R3 has wooed over 80 the world’s biggest banks and financial institutions to collaborate under the common roof of its blockchain consortium. The consortium has notably worked with regulators in developing blockchain applications, including the likes of the Singapore’s central bank, Hong Kong’s financial regulator and South Korea’s central bank. Now, R3 is reportedly continuing its charm offensive of....
R3 and Singapore’s central bank, the Monetary Authority of Singapore, have partnered up to establish a “distributed ledger technology center” to give Singapore a lead position in Asia’s FinTech industry. Setting up a lab. The MAS will be collaborating with the NY-based company to develop and potentially implement Blockchains into financial institutions with the R3 Asia Lab. Both companies are aiming to disrupt the FinTech industry with efficient, transparent and cost-effective solutions which could improve transaction security and be used on capital markets worldwide. Sopnendu Mohanty, CFO....
The Monetary Authority of Singapore (MAS), the country’s central bank, has announced the development of a blockchain proof-of-concept pilot project that will facilitate inter-bank payments, globally. Announced today, Singapore’s primary monetary authority revealed the project, developed in partnership with New York-based blockchain startup R3. The project aims to develop a payment system that will enable banks to transact between global markets at any hour, with instant transfer of funds between participants. Applications will include cross-border payments, trading and settlement processes....