Payment Services Act 2019

Digital Treasures Center Secures MPI Licence to Provide Digital Payment Token and Other Payment Services in Singapore

Retrieved on: 
Monday, August 1, 2022 - 8:58am

Singapore, Aug 1, 2022 - (ACN Newswire) - The Monetary Authority of Singapore (MAS) has granted Digital Treasures Center (DTC) the Major Payment Institution (MPI) licence.

Key Points: 
  • Singapore, Aug 1, 2022 - (ACN Newswire) - The Monetary Authority of Singapore (MAS) has granted Digital Treasures Center (DTC) the Major Payment Institution (MPI) licence.
  • Securing the full licence means DTC has exited from the exemption status and is now a fully regulated provider (MAS licence number: PS20200531) of Digital Payment Token (DPT) and other payment services under the Payment Services Act (PSA).
  • Effect 1 August 2022, DTC will be providing the following payment activities under the MPI licence:
    1.
  • Digital Treasures Center Pte Ltd ("DTC") is an enterprise payment service provider incorporated in Singapore with PCI-DSS level 1 certification and winner of the prestigious Fintech Partner Award at Singapore Fintech Festival.

Hodlnaut Launches a New Asset - PAX Gold (PAXG) on its Platform

Retrieved on: 
Tuesday, July 12, 2022 - 8:05am

SINGAPORE, July 12, 2022 /PRNewswire/ -- Singapore-based crypto lending and borrowing firm Hodlnaut has just announced the launch of a new asset, PAX Gold, otherwise known as PAXG.

Key Points: 
  • "PAX Gold is a cryptocurrency that offers the benefits of physical gold ownership but with the speed and liquidity of a digital asset.
  • For a limited time, Hodlnaut will be running a promotion to celebrate the launch of PAXG.
  • With this latest introduction of PAX Gold and plans to launch new products in the upcoming months, Hodlnaut stays committed to building the business and toughing out the bear market.
  • Founded in April 2019 by Bitcoin maximalists Juntao Zhu and Simon Lee, Hodlnaut has grown tremendously over the years.

Hodlnaut Launches a New Asset - PAX Gold (PAXG) on its Platform

Retrieved on: 
Tuesday, July 12, 2022 - 7:58am

SINGAPORE, July 12, 2022 /PRNewswire/ -- Singapore-based crypto lending and borrowing firm Hodlnaut has just announced the launch of a new asset, PAX Gold, otherwise known as PAXG.

Key Points: 
  • "PAX Gold is a cryptocurrency that offers the benefits of physical gold ownership but with the speed and liquidity of a digital asset.
  • For a limited time, Hodlnaut will be running a promotion to celebrate the launch of PAXG.
  • With this latest introduction of PAX Gold and plans to launch new products in the upcoming months, Hodlnaut stays committed to building the business and toughing out the bear market.
  • Founded in April 2019 by Bitcoin maximalists Juntao Zhu and Simon Lee, Hodlnaut has grown tremendously over the years.

Hodlnaut Announces Support of Binance Smart Chain

Retrieved on: 
Tuesday, June 28, 2022 - 2:23pm

SINGAPORE, June 28, 2022 /PRNewswire/ -- Hodlnaut, a cryptocurrency interest-earning platform based in Singapore, announced the support of the Binance Smart Chain for USDC deposits on their platform. Previously, users could only deposit USDC through the ERC-20 network. 

Key Points: 
  • SINGAPORE, June 28, 2022 /PRNewswire/ -- Hodlnaut, a cryptocurrency interest-earning platform based in Singapore, announced the support of the Binance Smart Chain for USDC deposits on their platform.
  • "We're pleased to announce the integration of Binance Smart Chain at Hodlnaut.
  • The Binance Smart Chain was created as an extension of the original Binance Chain.
  • With dual chain architecture, both chains are complementary Binance Smart Chain provides decentralized applications (dApps) with a cheaper and more efficient network.

Hodlnaut Announces Support of Binance Smart Chain

Retrieved on: 
Tuesday, June 28, 2022 - 2:16pm

SINGAPORE, June 28, 2022 /PRNewswire/ -- Hodlnaut, a cryptocurrency interest-earning platform based in Singapore, announced the support of the Binance Smart Chain for USDC deposits on their platform. Previously, users could only deposit USDC through the ERC-20 network. 

Key Points: 
  • SINGAPORE, June 28, 2022 /PRNewswire/ -- Hodlnaut, a cryptocurrency interest-earning platform based in Singapore, announced the support of the Binance Smart Chain for USDC deposits on their platform.
  • "We're pleased to announce the integration of Binance Smart Chain at Hodlnaut.
  • The Binance Smart Chain was created as an extension of the original Binance Chain.
  • With dual chain architecture, both chains are complementary Binance Smart Chain provides decentralized applications (dApps) with a cheaper and more efficient network.

Singapore's CapBridge Financial, Matrixport, Huobi Singapore, and RioStox Successfully Test "Travel Rule" Compliant Transactions with Notabene

Retrieved on: 
Tuesday, May 3, 2022 - 11:00pm

NEW YORK, May 3, 2022 /PRNewswire-PRWeb/ -- Notabene, an end-to-end solution for crypto regulatory compliance, has announced the successful completion of a Travel Rule testnet with Singapore digital finance group CapBridge Financial, Matrixport, Asia's fast-growing digital assets financial services platform, Huobi Singapore, a leading digital assets exchange platform, and RioStox, a licensed securities exchange building a global multi-market tokenized ecosystem for digital securities and digital assets.

Key Points: 
  • FATF's "Travel Rule" mandates novel VASP to VASP collaboration to share verifiable customer information for transactions over jurisdiction-specific thresholds.
  • The collaborative framework provides a low-risk environment for CapBridge Financial, Matrixport, Huobi Singapore, and RioStox to test complex Travel Rule transactions as they gear up to comply with impending regulations in Singapore and Hong Kong.
  • With participation in this testnet, CapBridge Financial, Matrixport, Huobi Singapore, and RioStox are one step closer to becoming Travel Rule compliant in Singapore and Hong Kong.
  • Notabene sets up regular collaborative Travel Rule test environments for crypto exchanges and financial institutions to test sending and receiving regulated transactions.

Hodlnaut Officially Launches Two New Assets: TerraUSD (UST) and Terra (LUNA)

Retrieved on: 
Thursday, April 14, 2022 - 2:18am

SINGAPORE, April 14, 2022 /PRNewswire/ -- Singapore-based crypto lending and borrowing firm, Hodlnaut, has just announced the launch of two new assets namely, TerraUSD (UST) and Terra (LUNA).

Key Points: 
  • Hodlnaut celebrates its third year with the launch of two new assets, TerraUSD (UST) and Terra (LUNA).
  • SINGAPORE, April 14, 2022 /PRNewswire/ -- Singapore-based crypto lending and borrowing firm, Hodlnaut, has just announced the launch of two new assets namely, TerraUSD (UST) and Terra (LUNA).
  • Therefore, we are proud to announce the support of Luna and UST on the Hodlnaut platform," said Juntao, CEO and Co-Founder of Hodlnaut.
  • Founded in April 2019 by Bitcoin maximalists Juntao Zhu and Simon Lee, Hodlnaut has grown tremendously over the years.

Hodlnaut Officially Launches Two New Assets: TerraUSD (UST) and Terra (LUNA)

Retrieved on: 
Thursday, April 14, 2022 - 1:20am

SINGAPORE, April 13, 2022 /PRNewswire/ -- Singapore-based crypto lending and borrowing firm, Hodlnaut, has just announced the launch of two new assets namely, TerraUSD (UST) and Terra (LUNA).

Key Points: 
  • Hodlnaut celebrates its third year with the launch of two new assets, TerraUSD (UST) and Terra (LUNA).
  • SINGAPORE, April 13, 2022 /PRNewswire/ -- Singapore-based crypto lending and borrowing firm, Hodlnaut, has just announced the launch of two new assets namely, TerraUSD (UST) and Terra (LUNA).
  • Therefore, we are proud to announce the support of Luna and UST on the Hodlnaut platform," said Juntao, CEO and Co-Founder of Hodlnaut.
  • CONTACT: Sten Ivan, Head of Growth at Hodlnaut, sten@hodlnaut.com
    View original content to download multimedia: https://www.prnewswire.com/news-releases/hodlnaut-officially-launches-tw...

FOMO Pay Forges Strategic Collaboration with Circle to Use USDC for Product Offering

Retrieved on: 
Thursday, March 24, 2022 - 1:00pm

FOMO Pay will integrate USDC into its services, allowing its merchant, corporate and financial institution clients to seamlessly convert between USDC and fiat currency.

Key Points: 
  • FOMO Pay will integrate USDC into its services, allowing its merchant, corporate and financial institution clients to seamlessly convert between USDC and fiat currency.
  • In November 2021, Circle announced its intention to establish a regional hub in Singapore and participation in a Lighthouse Project with MAS.
  • "FOMO Pay is glad to collaborate with Circle.
  • Neither FOMO Pay nor Circle will service individual customers, or otherwise customers constituting the retail public in Singapore.

Cryptocurrency Firm Hodlnaut Receives In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS)

Retrieved on: 
Tuesday, March 15, 2022 - 10:26am

SINGAPORE, March 15, 2022 /PRNewswire/ -- Cryptocurrency platform Hodlnaut has received an in-principle approval (IPA) letter for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act).

Key Points: 
  • Currently, MAS is only regulating Hodlnaut's DPT Token Swap feature, and not our DPT borrowing and lending services.
  • "We are thrilled to have received the in-principle approval (IPA) of the Monetary Authority of Singapore to provide digital payment token (DPT) services as a Major Payment Institution.
  • Hodlnaut has received an in-principle approval (IPA) for a Major Payment Institution License in Singapore from the Monetary Authority of Singapore (MAS) under the Payment Services Act (PS Act).
  • The firm is also a certified Fintech by the Singapore Fintech Association, an accreditation recognized by the MAS.