Singapore's central bank will help crypto startups open bank accounts

posted 2 months ago
The Monetary Authority of Singapore (MAS), the city-state's central bank, is working to ensure cryptocurrency startups receive domestic banking services as part of the country's efforts to boost fintech development.

Ravi Menon, the institution's managing director, said the central bank is trying to "bring the banks and cryptocurrency fintech startups together to see if there's some understanding they can reach... The nature of this business is a bit different, so banks may need to employ other ways in which they can establish bona fide."
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