Vince Wang

MAS and The Association of Banks in Singapore (ABS) jointly announced the incorporation of Singapore Payments Network, which will administer and govern Singapore’s national payment schemes. This follows MAS’ and ABS’ earlier announcement on the intention to set up a new entity to consolidate the administration and governance of Singapore’s national payment schemes to position them for the next stage of growth, and to collaborate with MAS on the development of Singapore’s national payments strategy. More here: https://lnkd.in/eGwhBZdN

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Breaking news: CMB International brings their HK–Singapore Mutual Recognition Fund to Solana with DigiFT and OnChain 🇭🇰🇸🇬🪙 CMB International — one of Asia’s leading asset managers and part of the China Merchants Bank Group — has partnered with DigiFT and OnChain to tokenize the CMB International USD Money Market Fund via the CMBMINT token. The fund is licensed in both Hong Kong and Singapore and represents one of the first dual-licensed, cross-border mutual recognition funds to be tokenized on Solana. CMBMINT is deployed on Solana, alongside three other public blockchain networks, and offers: — Institutional-grade yield backed by a licensed money market fund — Access with fiat and stablecoin subscriptions/redemptions This launch demonstrates how regulated, large-scale financial products can integrate with public blockchain infrastructure, bridging traditional finance with 24/7, globally accessible Internet Capital Markets. More on the news from DigiFT here: https://lnkd.in/gm3vAvAn

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🤖 The presence of GenAI in banking is growing fast, encompassing every department, and include personalizing the banking experience. However, to fully embrace GenAI at scale, banks need to be well prepared! In our latest article, Hassan N., Deputy General Manager, Digital Engagement at SBS, explores how a cloud-native infrastructure show the ability to harness the potential of this technology 👉 https://lnkd.in/eMyZAUkq

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What fintechs expect from regulators is not indulgence. It’s clarity. Back in the early days of @Triple-A, we applied for a Standard Payment Institution licence (the first tier licence in Singapore). But sooner than expected, we exceeded the volume we were authorised to process. We gathered with the team and the lawyers to consider our options. The only solution we could see was to cap our volumes and wait, hoping our application for a Major Payment Institution licence (the higher tier) would be approved. That would have been terrible for the business. So I sent a message to our contact at MAS, asking if there was a way to keep growing. After a few back-and-forths explaining our problem, this person replied: “Did you read article X of this law?” It turned out we had missed a clause in one of the texts: once you apply for the higher licence, you automatically get a waiver. None of us had seen it, and the regulator pointed us in the right direction. I can assure you this has never happened in other regions. This is what I like about Singapore. MAS plays a double role: - Regulate - But also promote innovation And that’s what they did. Not by being indulgent, but by giving us clarity.

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Maya has rolled out its new credit programme, enabling market vendors and public transport drivers to access collateral-free loans based on their QR payment activity. Read here: https://lnkd.in/gkASSecn -with Shailesh Baidwan Renan Santiago #fintech #lending #payments #ewallet

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One year in, Boost Bank, under CEO Fozia A.'s leadership, reveals RM700 million in deposits and an embedded-first banking strategy, proving its commitment to truly inclusive finance in Malaysia. Read here: https://lnkd.in/gfCNqiNf #fintech #digitalbanking #banking

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