The Singapore tech news snapshot for June 2023 touched on items including the Monetary Authority’s proposed standards for digital assets, the city-state’s UOB Bank‘s moves into the Vietnamese SME sector, Accelerating Asia VC’s latest incubator cohort, and more.
Hit the Singaporean tech news headlines below to read the articles behind them, in full and online.
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SGInnovate: Singapore early-stage emerging tech startups 2022
- Singapore: Circle Internet Financial, issuer of USDC stablecoin, gains Major Payment Institution license from Monetary Authority of Singapore
- An intro to the 10 startups selected for cohort 8 of the Accelerating Asia accelerator program, working in online learning, electric vehicles tech, insurance-tech and more
“Sparklehaze (Singapore): Provides enterprise-grade In-Room voice AI assistant for the luxury hospitality industry.”
“Singapore-based early-stage VC fund Accelerating Asia announced today that it has invested in ten new companies joining Cohort 8 of its flagship accelerator program.”
- Singapore: WhatsApp launches Channels, allowing users to receive messaging from selected individuals and organizations
- Monetary Authority of Singapore issues White Paper proposing standards for use of digital assets including CBDCs, tokenised bank deposits and, potentially, stablecoins
“The digital monies covered under the White Paper include central bank digital currencies (CBDCs), tokenised bank deposits and potentially well-regulated stablecoins.”
“Unlike cryptocurrencies such as Bitcoin, which are more volatile, such digital monies are usually pegged to a real-world currency, commodity or financial institution, and are thus generally considered more stable.”
“The MAS White Paper lays out a set of requirements to protect the use of such assets as a medium of exchange, and provides a technical overview of Purpose Bound Money (PBM).“
“This comes as financial institutions and fintech companies in Singapore take steps towards the use of digital assets.”
- Singapore’s Smart Fintech For You gains Indonesia central bank service provider licence, building on presence in Hong Kong, UAE, Thailand and Philippines and 70-currency options
- Monetary Authority of Singapore issues Major Payment Institution licence for Digital Payment Token services to Crypto.com
- Vietnam: Singapore’s UOB bank launches UOB FinLab innovation accelerator in Vietnam, focusing on digital technologies to boost SME business growth
CSIS: Mapping semiconductor supply chains – Indo-Pacific’s importance
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