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Tag: MAS

  • Messi’s Healthy Hydration Beverage, Más+, Debuts In Australia Exclusively At 7-eleven

    Messi’s Healthy Hydration Beverage, Más+, Debuts In Australia Exclusively At 7-eleven

    Lionel Messi’s hydration beverage, Más+ by Messi, has recently made its debut in the Australian market following its successful reception in the United States. The exclusive distributor for this product in Australia is 7-Eleven.

    Más+ by Messi boasts natural sweeteners and flavors and does not contain any artificial colors or preservatives. Additionally, it is rich in essential nutrients with six vitamins and four electrolytes included in its recipe.

    Uniquely Delicious and Healthy

    Ben Gibson, General Manager at Mark Anthony Brands Australia, expressed his delight over the introduction of the drink. He emphasized the remarkable achievement of creating a delectable beverage containing only 1g of sugar and 10 calories per 500ml bottle, without any artificial sweeteners or colors. Gibson added that this drink empowers individuals to hydrate like a champion each day.

    He further stated, “This introduction signifies more than just a product launch. It marks the beginning of a new phase for hydration beverages in Australia.”

    Inspired Flavours

    The product line features four distinct flavors, each inspired by and named after significant milestones in Messi’s life.

    The Miami Punch flavor derives its inspiration from Messi’s current city of residence. It combines a variety of berry flavors with a hint of pineapple.

    Berry Copa Crush is another flavor that blends blueberries, raspberries, cherries, and acai. The inspiration behind this flavor is the numerous trophies Messi has won over his illustrious career.

    Más+ Orange d’Or is a flavor that celebrates Messi’s record-breaking eight Ballon d’Or victories. This flavor incorporates the taste of oranges and tangerines.

    Lastly, the brand presents Limon Lime League, a flavor that balances sweetness with a fruity and zesty taste. The UEFA Champions League, which Messi won four times, served as the inspiration behind this flavor.

    Questions & Answers

    What is unique about Más+ by Messi hydration drink?
    The drink is made with natural flavors and sweeteners, and it does not contain any artificial colors or preservatives. It also has six vitamins and four electrolytes.

    Where is Más+ by Messi available in Australia?
    The drink is available exclusively at 7-Eleven stores in Australia.

    What are the flavors of Más+ by Messi and what do they represent?
    Más+ by Messi has four flavors: Miami Punch, Berry Copa Crush, Más+ Orange d’Or, and Limon Lime League. Each flavor represents a significant milestone in Messi’s life.

  • TripleA Wins Singapore Crypto License

    TripleA Wins Singapore Crypto License

    The crypto payments firm is the fourth to receive a digital payments token (DPT) license in the city-state.

    The Monetary Authority of Singapore (MAS) has awarded a DPT license to TripleA, allowing the company to provide end-to-end cryptocurrency payment services, according to an announcement this week.

    Founded in 2017 by mobile and payments entrepreneur Eric Barbier, TripleA currently operates in Singapore, with a presence in Hong Kong and Europe.

    CEO Barbier said in the announcement that the license will enable the company to «expand cryptocurrency access to more residents and also strengthen TripleA’s positioning as a trusted and reliable crypto payments partner for businesses worldwide.

    MAS has awarded DPT licenses to DBS Vickers, Australian crypto exchange Independent Reserve and fintech firm Fomo Pay.

    It has received over 170 license applications from digital payment token service providers, including global crypto exchanges such as Coinbase and Kraken.

  • MAS Orders Binance Halt

    MAS Orders Binance Halt

    The Monetary Authority of Singapore has ordered crypto giant Binance to halt its services in the city-state over a potential breach of local payment rules.

    Binance must stop offering services in Singapore, according to a report citing a MAS statement, over a potential breach of the Payment Services Act.

    According to the regulator, Binance provided payment services to and solicited business from Singapore residents without an appropriate license.

    In response, Binance said its Singapore operations are conducted via Binance Asia Services (BAS) which is a separate legal entity from Binance.com.

    BAS operates Binance.sg, does not offer any products or services via Binance.com, and has its own local executive and management team.

    BAS has submitted a license application and is currently exempt from holding one for digital payment token services, MAS said, adding that the application remains under review and is subject to the firm demonstrating that it is able to meet requirements.

    On the other hand, Binance didn’t apply for a license under local law and the regulator has added the crypto firm to its investor alert list.

    MAS has been engaging BAS and expects an immediate it to begin an orderly suspension of its facilitation of transfers of digital payment token assets between BAS and Binance, the regulator added.

  • MAS Teases Multi-Currency Payment System for Digital Currencies

    MAS Teases Multi-Currency Payment System for Digital Currencies

    The Monetary Authority of Singapore (MAS) discussed the creation of a common platform for international payment settlements that will be more efficient than current arrangements.

    While there is growing global interest in the issuance of Central Bank Digital Currencies (CBDCs) for domestic payments, multiple CBDC (m-CBDC) arrangements could lead to a significant improvement in the speed, cost and transparency of cross-border payments, MAS said.

    In a blog post on Thursday by Toh Wee Kee, specialist leader (distributed ledger technology), MAS discussed unbundling the digital currency stack to improve governability of m-CBDC networks and create a viable path towards making m-CBDC arrangements a reality.

    MAS is partnering with the BIS Innovation Hub and the central banking community on Project Dunbar to design, develop and test new m-CBDC models for cross-border settlement, Toh said in the blog post.

    The central bank previously developed a prototype multi-currency wholesale settlement network, which enabled issuance or distribution of different digital currencies on a common network, as part of Project Ubin.

    You will soon hear about the commercial launch of a multi-currency payment system for digital currencies, Sopnendu Mohanty, MAS chief fintech officer, said in a LinkedIn post.

    We feel strongly about sharing our experience and contribute towards advancing central banks’ interest on m-CBDCs, he added.

  • Wirecard Ordered to Cease Activities in Singapore

    Wirecard Ordered to Cease Activities in Singapore

    The ability of its Singapore entities to continue providing payment services here has been affected, following its parent company’s insolvency filing in Germany.

    The Monetary Authority of Singapore (MAS) has ordered Wirecard Singapore to cease payment services in the country and to return all customers’ funds by 14 October 2020, the regulator said in an announcement on Wednesday.

    As a result, Credit card payments at merchants using Wirecard Singapore’s services, as well as usage of pre-paid cards issued by Wirecard Singapore, will be affected, and customers are advised to look for alternative service providers.

    MAS has assessed that it is in the interest of the public for Wirecard SG to cease its payments services and promptly return all customers’ funds. This provides the greatest certainty to customers on their appropriate course of action, including seeking alternative service providers, the announcement said.

    The firm is at the center of one of the region’s biggest corporate accounting scandals in recent years, having admitted that €1.9 billion is missing from its financial accounts. The firm’s CEO Markus Braun as well as other top executives have been arrested, while former operating chief Jan Marsalek remains missing.

    The collapsed German fintech’s sacked operating chief went to an extreme – and adventurous – lengths to bamboozle auditors, according to a German report.

    So far, one Singaporean has been indicted – a director of a local accounting firm that allegedly helped Wirecard falsify letters about the funds held in its escrow accounts.

  • MAS Warns Against Lee Hsien Loong Bitcoin Scam

    MAS Warns Against Lee Hsien Loong Bitcoin Scam

    The Monetary Authority of Singapore warned the public about a website using fabricated comments from Prime Minister Lee Hsien Loong to solicit investments in bitcoin.

    The website not only used fabricated comments but also attempted to impersonate a news page from a local media organization, the Monetary Authority of Singapore (MAS) added.

    The information on the website is highly deceptive and misleading. The statements attributed to PM Lee are completely false, said MAS in a media statement last Friday. The site tries to get readers to provide credit card or bank account information, plus payments into a trading platform, which would automatically initiate trades on the client’s behalf.

    Members of the public are advised to exercise extreme caution and avoid providing any financial or personal information on the forms linked from the website, MAS added. Members of the public who suspect that an investment could be fraudulent or misused for other unlawful activities should report such cases to the police, the regulator said.

    Since last year, MAS has issued at least four consumer advisories on such fraudulent websites that use the names and photographs of ministers and other prominent people in Singapore to solicit bitcoin investments. The ministers included Emeritus Senior Minister Goh Chok Tong and Deputy Prime Minister Heng Swee Keat.

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  • HSBC setting up local subsidiary to handle retail and wealth business

    HSBC setting up local subsidiary to handle retail and wealth business

    HSBC’s Singapore branch is spinning off its retail banking and wealth management division into a local subsidiary.

    This locally incorporated unit, which will be operational from May 9, will oversee the running of all operations of the retail banking and wealth management business here.

    All other lines of business of HSBC in Singapore, which include commercial banking, private banking and global banking and markets, will continue to operate under the existing Singapore branch.

    Mr Guy Harvey-Samuel, HSBC’s chief executive officer for Singapore, said the move reflects the success of the bank’s retail business here.

    “More importantly, this move demonstrates HSBC’s strong and long-term commitment to the Singapore market,” he added.

    “Singapore is a top-seven priority country for the HSBC Group globally and we will continue to invest in our business here. We are excited about new opportunities to further expand our presence.”

    The move to locally incorporate the retail banking and wealth management business follows an announcement by the Monetary Authority of Singapore (MAS) in April last year that HSBC is considered one of seven domestic systemically important banks in Singapore.

    Such banks could have a significant impact on the Singapore financial system’s stability and the proper functioning of the broader economy.

    All banks here have to undergo an annual assessment of their systemic importance.

    Banks with a significant retail presence are required to locally incorporate their retail operations.

    In line with this, HSBC’s new subsidiary will be subject to additional MAS regulatory requirements aimed at strengthening the resilience of the banking system and boosting protection of retail customers.

    The subsidiary will hold a full bank licence with qualifying full bank privileges. These privileges include being able to open more branches than other foreign banks.

    Qualifying full banks are also allowed to conduct the full range of banking businesses permitted under the Banking Act, including taking retail deposits.

    Once the new subsidiary is up and running, it will be business as usual, HSBC said.

    Mr Matthew Colebrook, the head of retail banking and wealth management for HSBC in Singapore, added: “Our customers remain central to HSBC and we will ensure that the transfer of customer accounts to the subsidiary is a seamless and largely behind-the-scenes process.

    “More broadly, HSBC aims to be a primary bank for affluent and aspirant Singaporeans and those with international needs.”

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