Crypto Custody Firm Leaves Singapore’s Regulatory Sandbox With License, ISO R...

The Singapore-based Propine emerged from the MAS regulatory sandbox with a Capital Markets Services License, and authorization to begin offering digital asset services to institutions. Crypto-custody provider and securities firm, Propine, has graduated from the Monetary Authority of Singapore’s fintech regulatory sandbox program, emerging with a Capital Markets Services License, and the green-light to commence full operations.The Singapore-based securities services firm for institutional clients was admitted entry to the MAS regulatory sandbox on Nov. 8, 2019, and participated for just....

The Bank of Uganda (BOU) has announced the launch of a regulatory sandbox that will allow fintech start-ups to test their innovative financial solutions in a controlled environment. Already, one firm, M/S Wave Transfer Limited, has received approval to test its quick response (QR) technology under this sandbox arrangement. BOU Launches Regulatory Sandbox for Fintech In its statement on June 15, the BOU says it is now inviting more firms to develop and similarly test their financial innovations under this framework. Meanwhile, the BOU statement also expands on why the central bank has....

The stablecoin issuer said the regulatory approval would help support its partners in expanding services into Asia. The Monetary Authority of Singapore, or MAS, has granted stablecoin issuer Paxos regulatory approval to offer crypto services to local companies.In a Thursday announcement, Paxos said it had received a license from Singapore’s financial regulator allowing the firm to provide blockchain and crypto services under the country’s Payment Services Act. The stablecoin issuer said the regulatory approval would help support its partners in expanding services into Asia.“We’re excited....

Fintech firm Centbee recently announced it has successfully completed the testing of its cross-border remittance application, Minit Money. The testing of the application was carried out within the framework of the South African Intergovernmental Fintech Working Group (IFWG)’s regulatory sandbox. Using Crypto to Enable Faster and Cheaper Remittances In a statement, the fintech firm claims its Minit Money application has demonstrated an ability to “enable foreigners living in South Africa to send money home across Africa to bank accounts or mobile money wallets at a....

Ghana is launching a 12-month virtual-asset sandbox, the country’s first operational step to formalize crypto trading and related services. A Regulatory Crypto Sandbox On March 10, the Securities and Exchange Commission of Ghana (SEC) announced that it has finalized its regulatory sandbox framework for Virtual Asset Service Providers (VASPs), Bloomberg reports. The framework will allow […]