The Monetary Authority of Singapore (MAS) has announced a series of moves to boost fintech development in the city-state and strengthen ties with other Asian countries.
This came shortly after MAS wrapped up its inaugural Singapore Fintech Festival, during which the authority made a number of announcements such as the government’s financial support to startups and firms for proof-of-concept trials, as well as its collaboration with fintech startup R3 to join its blockchain consortium. Streamlining regulations In a speech during the Fintech Festival, which ran between November 14 and 18, 2016, Ravi Menon, managing director of MAS, said that the authority intends to streamline regulations to spur innovation. The authority will develop and refine its regulatory sandbox proposal for idea testing and create an activity-based modular framework for regulating payment services.
http://fintechnews.sg/7291/fintech/mas-unveils-new-moves-to-boost-fintech-sector-in-singapore/
