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This was conducted as part of the Monetary Authority of Singapore’s (MAS) Project Guardian , a global initiative involving industry leaders and policymakers to enhance liquidity and market efficiency through asset tokenisation. ” said Sergey Nazarov, Co-Founder of Chainlink.
1 B2B Cross-Border Trade Payment Platform , was granted the Major Payment Institution (MPI) License under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS). Receiving this license from the Monetary Authority of Singapore marks a significant milestone for XTransfer as we expand our services throughout Southeast Asia.
The Monetary Authority of Singapore (MAS) has announced plans to advance asset tokenisation within the financial services sector. Access to a common settlement facility is also being facilitated through the SGD Testnet, featuring S$ wholesale central bank digital currency (CBDC) for market testing.
The Monetary Authority of Singapore (MAS) has unveiled four new plans to help advance tokenisation in financial services in the region. Recognising this, MAS is facilitating financial institutions’ access to common settlement assets including S$ wholesale CBDC for market testing purposes.
Singapore-based stablecoin infrastructure provider StraitsX has unveiled a refreshed brand identity as it expands its role in enabling compliant, real-time payment settlements. It supports tokenised currency issuance, FX, and settlement across both public and private blockchain networks.
Since managing credit card transactions can be complex, understanding how their settlements work is essential to maintaining financial health as consumer spending rises. Credit card settlements involve various processes and parties that ensure transactions are accurately recorded and funds are transferred.
The Bank for International Settlements (BIS) and a group of central banks have successfully completed Project Mandala demonstrating automated compliance for cross-border transactions.
Cross-border payment firm XTransfer has received the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). It enables secure and compliant transactions, with 24/7 payment settlement capability, offering uninterrupted fund circulation throughout the trade process.
Lower Fees and Instant Settlement Another major benefit is the fees associated with crypto payments. Settlement speeds are another major advantage. External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Project Guardian, run by the Monetary Authority of Singapore , is a global collaboration between policymakers and key industry players to enhance liquidity and efficiency of financial markets through asset tokenisation. Tokenised bank liabilities and shared ledgers tackle these challenges directly.
Online marketplaces are the digital storefronts helping small to mid-sized businesses survive — but adding real-time settlement into the mix can help them thrive. And 60 percent of surveyed firms selling across online marketplaces would take their business to one that offers real-time settlement.
The company said it has launched VisaNet +AI to enhance posting and settlement, and eliminate the guesswork tied to knowing where funds will hit and when. Cross-border transactions, for example, can vary widely from initiation to final settlement, impacted by foreign exchange (FX) rates. Smarter Settlement.
Almond’s blockchain-driven Settlement Optimization Engine (SOE) addresses critical speed, transparency, and cost challenges in cross-border payments. The SOE optimises transaction routes and provides near-instantaneous settlement for financial institutions globally. Let’s dive in.
The Bank for International Settlements (BIS) Innovation Hub and the Monetary Authority of Singapore (MAS) have developed a blueprint – Project Viridis – a climate risk platform aimed at helping financial authorities identify, monitor, and manage climate risks in the financial system.
Founded in 2021, Partior utilizes blockchain technology to transform clearing and settlement, and redefine the way value moves globally. Its platform covers payments in 173+ countries with local payment options in 70+ markets and offers global business accounts in 60+ currencies.
M-DAQ Global, a fintech specialising in cross-border foreign exchange (FX) and payment solutions, has been awarded a Capital Markets Services (CMS) licence by the Monetary Authority of Singapore (MAS). With this licence, we can broaden our capabilities to support B2B applications with more complex requirements and longer settlement periods.
billion settlement with US authorities earlier this year. This leadership restructure is in line with Binance’s efforts to comply with regulatory standards following its legal settlement in the US. Completing the lineup are Arnaud Ventura, of Gojo & Co., and Xin Wang, CEO of Bayview Acquisition Corp.
The processes included converting reserve account balances into digital Rupiah and vice versa, ensuring seamless interoperability with Bank Indonesias Real-Time Gross Settlement (BI-RTGS) system. Each platform exhibited distinct strengths.
The founding members are the Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore (MAS), and the Bank of Thailand. This marks the initiative’s transition from a Bank for International Settlements (BIS) experimental project, started in 2021, into practical implementation.
To make the most of the collaboration, a custom split payout functionality has been developed for Lyvely, allowing the platform to automatically distribute settlements between the company and its content creators based on predefined percentages. Lyvely has been using Mamos platform for payment processing and card solutions since early 2024.
This routing allows the processor to request authorization for the transaction from the issuing bank, which then approves or denies it based on factors like available funds and fraud checks. Routing : The payment processor routes the transaction request to the appropriate issuing bank for authorization.
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.
DK Bank, Bhutans first fully digital bank licensed by the Royal Monetary Authority of Bhutan, manages settlement for merchants in local currency. The initiative is a collaboration between Binance Pay, DK Bank, and Bhutans Department of Tourism.
Editors picks Spencer Platt/Getty Images via Getty Images Zelle, big banks challenge senators on scam reimbursements Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.
The agreement between Colorado authorities, marketplace lenders and banks offers a way to structure partnerships without triggering the wrath of state regulators.
Australia’s central bank and a government-backed research centre have selected 24 industry participants to trial digital settlement systems for tokenised assets, in a project exploring the future of wholesale finance.
It authorizes or declines payments based on available funds and fraud checks. Payment information is encrypted and sent for authorization – The payment gateway encrypts and sends the payment details to the payment processor. Speed of transactions and fund settlement Payment settlement speed impacts your business cash flow.
Rain announced it has joined Visa’s pilot program for stablecoin settlement. Rain has fully tokenized its credit card receivables and has transitioned all settlement transactions for its Visa cards to USDC, to now be able to settle with Visa 7 days a week, 365 days a year. ” This is just the beginning.
Antoms card processing volume grew over 10 times from that of previous year, while delivering top notch authorization rates to its global enterprise merchants. Antom continues to strengthen its payment processing capabilities across all payment channels.
This misconception has shaped many CBDC proposals, which tend to replicate traditional account-based structures under the control of central authorities or delegated intermediaries. Das added that improved liquidity due to streamlined settlement processes will reduce the need for intermediary currencies and lower the transaction costs.
BC Payments Singapore) has received the In-Principle Approval (IPA) for the Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This IPA marks a significant milestone for BC Payments Singapore.
They will need to co-exist with existing clearing and settlement processes and infrastructures, and this means interoperability is crucial. The DLT network provides a highly secure and reliable platform for the exchange of the digital currency as part of clearing and settlement. The transfer volume of stablecoins hit highs of $717.1
It occurs in a matter of seconds but consists of multiple stages, from authorization to settlement. Stage 1: AuthorizationAuthorization is the initial step where the transaction is approved or declined. Card Network Communicates with Issuer : The card network forwards the request to the issuing bank for authorization.
China’s Cross-border Interbank Payment System (CIPS) is rapidly emerging as a central artery in the internationalization of the Renminbi (RMB), offering a robust infrastructure for cross-border settlements and reshaping how global institutions engage with China’s markets. It expresses the views and opinions of the author.
Editors picks Spencer Platt/Getty Images via Getty Images Zelle, big banks challenge senators on scam reimbursements Forcing banks to reimburse authorized payments could encourage bad behavior and would not deter scammers, bank executives said in a Senate hearing.
Over 90% of the population has signed up for the nations digital payment schemes, and nearly all merchantsapproaching 100%have adopted QR code payment systems, according to Chia Der Jiun, Managing Director of the Monetary Authority of Singapore (MAS).
PEXA, the world’s leading digital property exchange platform, today announced that the Financial Conduct Authority (FCA) has approved its application to become an authorised payment institution (API). This includes the development of PEXA Pay, the seventh net settlement payment scheme to clear through the Bank of England.
This laid the foundation for a centralized monetary authority and future oversight of payment systems. Clearing houses, often managed by the RBI or lead banks, facilitated the physical exchange and settlement of cheques. Manual Clearing Houses: Cheques remained the dominant non-cash payment instrument.
Real-time settlement across jurisdictions reduces reliance on intermediaries, slashes fees, and strengthens trust. How Real-Time Payments Are Transforming Cross-Border Business Real-time payments are revolutionizing cross-border transactions with instant settlements, better transparency, and reduced costs.
Eurosystem , the monetary authority of the eurozone, has been exploring the possible use cases of distributed ledger technology (DLT) to conduct wholesale settlement in central bank money. It has now completed its first experiment using DLT, giving the monetary authority a glimpse into the potential merits of the tech.
The Monetary Authority of Singapore (MAS) has reported that major financial institutions in Singapore experienced minimal or no disruption to customer services and key operations following a global IT system outage. As a precaution, MAS extended the operating hours of MEPS+ by two hours, until 9 pm, to ensure smooth payment settlements.
(Photo by Çağlar Oskay on Unsplash ) With RfP, businesses can send digital payment requests that allow payers to authorize and send funds instantly, giving recipients immediate access to funds, improving cash flow, and reducing operational friction from delayed deposits.
XSGD is a stablecoin regulated by the Monetary Authority of Singapore (MAS) and backed 1:1 by reserves held with DBS Bank and Standard Chartered. The deployment brings XSGD to a blockchain designed for large-scale tokenisation, enabling real-time payments and programmable financial flows for developers, fintechs, and institutions.
Looking to harness this potential, the Hong Kong Monetary Authority (HKMA) launched ‘Project Ensemble’ in March earlier this year, a wholesale central bank digital currency (wCBDC) project, to support the development of the tokenisation market in the region. We also welcome partners to explore more use cases in the real economy with us.”
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