Latest news with #MAS-regulated
Techday NZ
12 hours ago
- Business
- Techday NZ
MetaComp completes first cross-border payment using carbon stablecoin
MetaComp has executed what it describes as the first real-world cross-border payment using the CNT Carbon Stablecoin framework, combining blockchain technology with regulated foreign exchange infrastructure and embedded carbon credits. The transaction was completed using MetaComp's StableX platform, enabling a same-day settlement from euros (EUR) to offshore Chinese yuan (CNH). StableX leverages blockchain technology to facilitate settlements more rapidly than traditional multi-day, multi-intermediary methods, while embedding verified carbon credits into each transaction. Transaction details According to MetaComp, the newly applied CNT Carbon Stablecoin framework operates by converting verified decarbonisation activities into programmable, carbon-backed stablecoins. Each unit of the CNT stablecoin issued is directly backed by certified emission reductions, tracked and audited using Alpha Ladder Group's Non-Fungible Digital Twin (NFDT) technology. The company states that the transaction demonstrated both the efficiency of blockchain-facilitated payments and the integration of sustainability through verified carbon credits. This particular CNT carbon stablecoin was underpinned by Chinese Certified Emission Reduction (CCER) credits from a wind power project in Zhangjiakou City, which was co-host of the 2022 Winter Olympics. These credits are registered with China's national carbon credits registry, ensuring traceability and authenticity. The issuance and management of the stablecoin were handled by Alpha Ladder Finance (ALFin), which is regulated under Singapore's Monetary Authority of Singapore (MAS) framework. The stablecoin itself is registered as a Collective Investment Scheme (CIS) unit token under Singapore's Securities and Futures Act. Same-day settlement MetaComp notes that the payment was completed in hours, bypassing several intermediaries and their respective operating hours. The use of programmable stablecoins allowed for near-instant settlement finality, as well as the real-time recording of corresponding data on-chain. The company highlighted the scalability of the approach, with its MAS-regulated payment infrastructure, supported by ALFin in its capacity as a MAS-regulated dealer of securities and CIS, facilitating a compliant cross-border transaction. Integrated sustainability Every CNT carbon stablecoin is created through association with verifiable carbon reduction projects, embedding documented sustainability value into the digital currency. MetaComp argues that such integration allows institutions to consider both financial efficiency and climate benefits in their international money movements. This first real-world transaction shows that sustainable cross-border payments are not a future concept – they are here today," said Tin Pei Ling, Co-President of MetaComp. "By integrating Alpha Ladder's patented CNT framework into our regulated payments infrastructure, we are enabling institutions to move money globally with both financial efficiency and verifiable climate benefit. Regulated infrastructure MetaComp is headquartered in Singapore and operates on a regulated basis through licensing from MAS under the Payment Services Act. The company focuses on providing institutional clients, fintech firms, and other entities with services such as over-the-counter and exchange trading, fiat payment rails, regulated digital asset custody, and prime brokerage. Its Client Asset Management Platform (CAMP) aims to bridge traditional financial services with digital asset capabilities. StableX, described as MetaComp's new cross-border FX and liquidity routing infrastructure, is responsible for the programmable execution and optimisation of multi-currency settlement, using a mix of stablecoins and fiat currencies. Role of Alpha Ladder Group Alpha Ladder Group, which describes itself as a digital green technology enterprise, holds patents on the CNT Carbon Stablecoin framework and the associated NFDT technology. The group's objective is to build interoperable financial systems that prioritise both speed and environmental sustainability in global transactions. The partnership between MetaComp and Alpha Ladder Group reflects a coordinated approach to delivering regulated, sustainability-focused payment solutions targeted at institutional users and supporting the broader move towards integrating ESG compliance in financial services.
Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
MetaComp Executes First Real-World Cross-Border Payment Using CNT® Carbon Stablecoin
Breakthrough EUR→CNH Same-Day Settlement Marks Milestone in Sustainable Payments Infrastructure SINGAPORE, Aug. 14, 2025 /PRNewswire/ — MetaComp Pte. Ltd. ('MetaComp'), a subsidiary of Alpha Ladder Group Pte. Ltd. and a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS), has successfully executed the first real-world cross-border payment using the patented CNT® Carbon Stablecoin framework. The transaction facilitated a same-day settlement from Euros (EUR) to offshore Chinese Yuan (CNH), demonstrating how blockchain-enabled carbon-backed stablecoins can combine payment efficiency with verifiable sustainability impact. The CNT® Carbon Stablecoin framework, recently patented in Singapore by Alpha Ladder Group, converts verified decarbonisation activities into programmable, carbon-backed stablecoins. Each stablecoin can only be issued against certified emission reductions, recorded and tracked via Alpha Ladder's Non-Fungible Digital Twin (NFDT®) technology to ensure full auditability. Why This Matters Faster, Cheaper Settlement – The EUR→CNH transaction achieved same-day settlement, bypassing multiple intermediaries and their respective operating hours and allowing same-day delivery, where several business days would traditionally be required. Sustainability Built In – Every CNT® carbon stablecoin is created through verified carbon reduction projects, embedding documented sustainability value into the currency itself. RWA Token – The CNT® carbon stablecoin was issued by Alpha Ladder Finance ('ALFin'), the parent company of MetaComp, and registered with MAS CISNET as a Collective Investment Scheme (CIS) unit token under Singapore's Securities and Futures Act (SFA). Scalable Payment Intermediary – MetaComp leveraged its MAS-regulated payment infrastructure, together with ALFin as a MAS-regulated dealer of securities and CIS, to deliver a compliant cross-border transaction, paving the way for institutional adoption. How It Was DoneThe payment was processed via StableX, MetaComp's programmable FX platform powered by stablecoins, which routed the transaction using CNT® carbon stablecoins issued under Singapore's regulatory framework. Settlement finality was achieved on the same day, with corresponding carbon stablecoin data recorded on-chain. This early CNT® carbon stablecoin was backed by Chinese Certified Emission Reduction (CCER) carbon credits, generated from a wind power project in Zhangjiakou City, co-host of the 2022 Winter Olympics. The project was verified and registered with China's national carbon credits registry. Setting a New Standard'This first real-world transaction shows that sustainable cross-border payments are not a future concept – they are here today,' said Tin Pei Ling, Co-President of MetaComp. 'By integrating Alpha Ladder's patented CNT® framework into our regulated payments infrastructure, we are enabling institutions to move money globally with both financial efficiency and verifiable climate benefit.' Alpha Ladder Group, a Singapore-based digital green leader, continues to advance its mission of Digital Green Transformation with Technologies, building an interoperable financial infrastructure that makes global transactions faster, greener, and more inclusive. About Alpha Ladder Group Alpha Ladder Group (formerly MVGX Holdings) is a leading Digital Green Group shaping the future of financial innovation, financial technology, and sustainable technology. With a growing portfolio of subsidiaries, we deliver capabilities across climate SaaS, stablecoin enabled payment and wealth services, and green impact investments. Driven by cutting-edge technologies such as blockchain and AI, we empower sustainable investments, build digital financial infrastructure, and pioneer wealth innovation. Through our vision of Digital Green Transformation with Technologies, we're building a smarter, more resilient, and responsible financial ecosystem—one that mirrors the universe's own journey from elemental simplicity to structured brilliance. At Alpha Ladder, our name isn't just symbolism – it's how we move the world forward to pursue infinite alpha, one particle at a time. To learn more about us, please visit About MetaComp MetaComp is a leading licensed cross-border FX and digital assets infrastructure provider headquartered in Singapore and licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. Operating on a P2B2C (platform-to-business/partners-to-clients) model, MetaComp empowers institutions, payment service providers, fintechs, and global enterprises to navigate the evolving cross-border payments and the digital asset economy with confidence. With a strong emphasis on compliance, security, and institutional-grade infrastructure, MetaComp delivers an end-to-end suite of digital finance solutions — including OTC and exchange trading, fiat payment rails, regulated digital asset custody, and prime brokerage services. MetaComp is a subsidiary of Alpha Ladder Finance Pte. Ltd., a MAS-licensed Capital Markets Services (CMS) licensee and Recognised Market Operator (RMO). Through its proprietary Client Asset Management Platform (CAMP), MetaComp provides a secure, integrated environment that bridges traditional finance with digital assets. MetaComp's latest innovation, StableX, is a next-generation cross-border FX and liquidity routing infrastructure designed to simplify and accelerate global fund flows. Powered by stablecoins and USD, StableX intelligently optimises multi-currency conversions and settlements, enabling faster, more cost-effective, and highly competitive cross-border transactions. As the FX layer within CAMP, StableX combines the programmability of digital assets with the reliability of regulated infrastructure, delivering a scalable, compliant and seamless ecosystem for the future of global finance. To learn more about MetaComp and its regulated infrastructure and solutions, visit or follow us on Twitter @MetaCompHQ
Singapore Law Watch
14-07-2025
- Business
- Singapore Law Watch
MAS scrutinises some VCC managers after review finds potential regulatory lapses
MAS scrutinises some VCC managers after review finds potential regulatory lapses Source: Business Times Article Date: 14 Jul 2025 Author: Tan Nai Lun The Monetary Authority of Singapore (MAS) says it is engaging with specific VCC managers to determine whether supervisory interventions or regulatory actions may be warranted. The Monetary Authority of Singapore (MAS) is looking more closely into certain variable capital companies (VCC) managers, after its review found potential lapses in regulatory compliance. Following its thematic review of VCCs and their managers in 2024, the central bank said it is engaging with specific managers to determine whether supervisory interventions or regulatory actions may be warranted. Despite the potential lapses, industry players noted that Singapore's fund management industry remains robust, with a majority of VCCs and their managers complying with regulatory requirements. VCCs are a corporate structure designed to house investment funds for a wide range of assets. In Singapore, they are managed by about 600 financial institutions, comprising MAS-regulated fund management companies and banks. It has become a popular vehicle among some family offices. A VCC allows for segregated funds to be created, where assets can be pooled together for private investments or individual sub-funds can be managed on behalf of each of their clients. MAS said the majority of these companies and their managers met key regulatory requirements: VCCs have to be used as collective investment schemes; and they will need to appoint a MAS-regulated manager, a director from the VCC manager, and an eligible financial institution. A VCC manager must also segregate its assets and maintain them with an independent custodian, as well as ensure anyone who conducts fund management for the company is a representative of the manager. VCCs also remain responsible for fulfilling their anti-money laundering obligations. MAS found that there were some of them that did not report custody arrangements, despite investing in certain types of assets that require them – such as listed equities and fixed-income instruments. Some had also appointed additional directors who are not directors or representatives of the VCC manager. Meanwhile, the central bank noted that some of these companies did not have substantive fund management activity. There were a few managers that were managing multiple VCCs that did not hold any assets or have any investors, despite having been incorporated for more than a year. Some of these companies also held illiquid assets on behalf of a single investor or a few connected investors, where these assets were previously owned by the investors. A routine survey Joel Shen, corporate partner at international law firm Withers, said the review is likely a routine survey, being conducted around five years after VCCs were first introduced to Singapore. 'It is about time MAS does some housekeeping, especially now that there is such a large number of VCCs in the market,' he said. According to the central bank, there were around 1,200 of these companies in Singapore as at Mar 31, 2025. Shen noted that this would mean the number of funds is a 'multiple of that number', since a VCC is essentially an umbrella of sub-funds, each with their own investment strategy and assets. He was 'quite encouraged by the findings that the vast majority of VCCs were compliant to regulations'. 'That speaks to Singapore's good reputation and high standards of regulation and governance,' he said. Urvi Guglani, who oversees growth and strategy at Silverdale Capital, said the review is a great step by MAS as it ensures that Singapore would not be caught infringing on the implementation of global corporate tax. This raises the level and perception of the Republic as a wealth centre, making it more attractive to big and long-term funds. 'Singapore is very well-reputed and perceived as a no-nonsense jurisdiction that has zero tolerance for shady deals,' she said. 'Removing (the) 'light-touch perception' will remove tourist fund managers and non-serious VCCs, leaving the field for professionally managed firms like us who have invested heavily in creating robust infrastructure to run VCC funds,' she added. Source: The Business Times © SPH Media Limited. Permission required for reproduction. Print
Business Times
13-07-2025
- Business
- Business Times
MAS scrutinises some VCC managers after review finds potential regulatory lapses
[SINGAPORE] The Monetary Authority of Singapore (MAS) is looking more closely into certain variable capital companies (VCC) managers, after its review found potential lapses in regulatory compliance. Following its thematic review of VCCs and their managers in 2024, the central bank said it is engaging with specific managers to determine whether supervisory interventions or regulatory actions may be warranted. Despite the potential lapses, industry players noted that Singapore's fund management industry remains robust, with a majority of VCCs and their managers complying with regulatory requirements. VCCs are a corporate structure designed to house investment funds for a wide range of assets. In Singapore, they are managed by about 600 financial institutions, comprising MAS-regulated fund management companies and banks. It has become a popular vehicle among some family offices. A VCC allows for segregated funds to be created, where assets can be pooled together for private investments or individual sub-funds can be managed on behalf of each of their clients. MAS said the majority of these companies and their managers met key regulatory requirements: VCCs have to be used as collective investment schemes; and they will need to appoint a MAS-regulated manager, a director from the VCC manager, and an eligible financial institution. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A VCC manager must also segregate its assets and maintain them with an independent custodian, as well as ensure anyone who conducts fund management for the company is a representative of the manager. VCCs also remain responsible for fulfilling their anti-money laundering obligations. MAS found that there were some of them that did not report custody arrangements, despite investing in certain types of assets that require them – such as listed equities and fixed-income instruments. Some had also appointed additional directors who are not directors or representatives of the VCC manager. Meanwhile, the central bank noted that some of these companies did not have substantive fund management activity. There were a few managers that were managing multiple VCCs that did not hold any assets or have any investors, despite having been incorporated for more than a year. Some of these companies also held illiquid assets on behalf of a single investor or a few connected investors, where these assets were previously owned by the investors. A routine survey Joel Shen, corporate partner at international law firm Withers, said the review is likely a routine survey, being conducted around five years after VCCs were first introduced to Singapore. 'It is about time MAS does some housekeeping, especially now that there is such a large number of VCCs in the market,' he said. According to the central bank, there were around 1,200 of these companies in Singapore as at Mar 31, 2025. Shen noted that this would mean the number of funds is a 'multiple of that number', since a VCC is essentially an umbrella of sub-funds, each with their own investment strategy and assets. He was 'quite encouraged by the findings that the vast majority of VCCs were compliant to regulations'. 'That speaks to Singapore's good reputation and high standards of regulation and governance,' he said. Urvi Guglani, who oversees growth and strategy at Silverdale Capital, said the review is a great step by MAS as it ensures that Singapore would not be caught infringing on the implementation of global corporate tax. This raises the level and perception of the Republic as a wealth centre, making it more attractive to big and long-term funds. 'Singapore is very well-reputed and perceived as a no-nonsense jurisdiction that has zero tolerance for shady deals,' she said. 'Removing (the) 'light-touch perception' will remove tourist fund managers and non-serious VCCs, leaving the field for professionally managed firms like us who have invested heavily in creating robust infrastructure to run VCC funds,' she added.
CNBC
04-07-2025
- Business
- CNBC
Singapore monetary authority penalizes 9 banks, institutions for 2023 money laundering case
The Monetary Authority of Singapore penalised six banks and three other financial institutions a total of S$27.45 million ($21.5 million) on Friday in relation to the country's biggest ever money laundering scandal in 2023. The case involved more than S$3 billion ($2.2 billion) in illicit assets seized after 10 foreigners were busted in a series of simultaneous raids in August 2023. The total penalty is just shy of the S$29.1 million in financial penalties meted out to eight banks in a case involving Malaysia's 1MDB in 2017. The banks involved — Credit Suisse, UOB, UBS, Citibank, Julius Baer and LGT Bank — were each penalised between S$1million and S$5.8 million. Brokerage firm UOB Kay Hian, asset management firm Blue Ocean Invest and trust and fund services company Trident Trust Company Singapore were also penalised S$2.85 million, S$2.4 million and S$1.8 million respectively. The penalties mark the conclusion of MAS's enforcement actions against financial institutions. The 10 convicted money launderers were sentenced to jail terms of between 13 and 17 months in the nation's largest case of its kind. They were deported and barred from re-entering Singapore after completing their sentences. The criminals held money gained from overseas scams and online gambling operations in bank accounts in Singapore, and converted some of their cash into real estate, cars, handbags and jewellery. MAS said it has identified shortcomings in the financial institutions' customer risk assessments, their tracing of the sources of customers' wealth as well as their ability to monitor and follow up on suspicious transactions. "The financial institutions have embarked on remediation of the deficiencies and MAS will monitor their progress closely," it said. Four people were also issued prohibition orders preventing them from carrying out MAS-regulated activities. In response to media queries, UOB said that it has implemented prompt remedial actions over the past two years and committed significant investments to enhance its internal risk management standards and capabilities further. UBS, which agreed to take over Credit Suisse in March 2023, said that it acknowledged the findings and has cooperated fully with authorities to resolve the issue. Blue Ocean Invest said that the company has fully cooperated with the authorities and has implemented measures to enhance internal policies and procedures. A Trident Trust Company spokesperson also said it has cooperated with MAS's inspection and implemented a remediation plan to address breaches. Citibank, UOB Kay Hian, Julius Baer and LGT Bank did not immediately respond to a request for comment. In August last year, Singapore charged two ex-bankers from Citi and Julius Baer for forging loan and tax documents for the money launderers. Singapore has also sought to make it easier for law enforcement to prosecute money laundering offences in the city-state. In June 2024, the government identified Singapore's banking sector as posing the highest money laundering risk in the city-state.
