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Singapore’s National Bank, DBS, Removes Lock on Banking System; Bank’s Financial Database Crumbles but Still Holds Punitive Fund 1.8 Times Over

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4 months ago
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The Monetary Authority of Singapore (MAS) has imposed sanctions on DBS Bank, which was ordered to halt its online banking system to address the issue of online banking crashes at...

Paxos Secures Full Reserve, Obtains Preliminary License to Establish USD-Denominated Stablecoin in Singapore.

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10 months ago
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Paxos, a blockchain platform, has recently established a subsidiary called Paxos Digital Singapore and obtained in principle approval (IPA) from the Monetary Authority of Singapore to create a stablecoin pegged...

Financial Sanction Imposed on DBS, the National Bank of Singapore: Prohibition on New Ventures, Branch Closures, ATM Reductions, and IT System Feature Enhancements Barred

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10 months ago
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The Monetary Authority of Singapore (MAS) has imposed penalties on DBS Bank for its online system issues earlier this year. The new measures involve locking the entire system of the...

Unveiling SGQR+: Singapore Introduces Revolutionary QR Payment System with 23 Integrated Channels

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10 months ago
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The Monetary Authority of Singapore (MAS) has begun testing its new SGQR+ service, a barcode payment service that allows transactions across multiple payment platforms using just one QR code. This...

DBS/Citi Faced with Penalties by National Bank of Singapore as Data Center Outage Exceeds Four Hours

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11 months ago
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The Monetary Authority of Singapore (MAS) has instructed DBS and Citi to investigate the recent bank collapse that occurred over the weekend. Although the initial cause was a malfunction in...