Singapore continues to advance as a global crypto hub under the Payment Services Act (PS Act). With stricter oversight by MAS to address ML/TF, cyber, and consumer protection risks, crypto service providers are expected to strengthen compliance, risk management, and cyber resilience to operate responsibly in this evolving landscape.
Interoperability lies at the heart of seamless cross-border transactions, empowering businesses and individuals to send and receive money effortlessly across borders. With rising global payment flows and demand for faster, cheaper, and more inclusive services, Singapore is taking the lead through innovative FinTech solutions. From PayNow-PromptPay linkages to the ambitious Project Nexus, Singapore’s initiatives are driving real-time connectivity and fostering financial inclusion across the region — paving the way for a borderless payments future.
Financial inclusion fuels economic growth and reduces poverty, especially in developing regions. Singapore supports global initiatives like the G20 roadmap to make cross-border payments faster, cheaper, and more accessible. Through partnerships with ASEAN neighbours such as Malaysia and the Philippines, Singapore is enhancing interoperability and building a more connected regional payment ecosystem — a vital step toward inclusive and sustainable financial integration.
The urgency to tackle climate change has never been greater. From COP26 commitments to phase out coal and end deforestation, to Singapore’s own green finance initiatives under Project Greenprint and membership in the Powering Past Coal Alliance, global and regional efforts are accelerating toward a net-zero future. Collective action from governments, businesses, and financial institutions is essential to drive meaningful progress and align ESG practices with global climate goals.
Singapore continues to advance its sustainability agenda through initiatives like joining the First Movers Coalition and launching the Green Plan 2030. These efforts aim to cut emissions, promote clean technologies, and drive green transformation across industries. As businesses face increasing pressure to adopt sustainable practices, embracing ESG strategies is key to long-term resilience and success in a low-carbon future.
The RFMC regime has been officially repealed by MAS, with all fund managers now transitioning to the A/I LFMC framework. The change streamlines regulatory oversight and supports Singapore’s growth as a trusted global fund management centre.
Early in the year of 2019, the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act 2019 (“PSPM Act”) has come into force to safeguard the precious stones and precious metals dealers (PSMD) sector against money laundering/ terrorism financing (ML/TF) risks.
The Monetary Authority of Singapore (MAS), as Singapore’s central bank and financial regulator, oversees the licensing and supervision of financial institutions (FIs) under five main sectors — Banking, Capital Markets, Financial Advisory, Insurance, and Payments.
