Overview

With the introduction of MAS Payment Services Act (‘PSA”) license, Singapore is one of the first major financial hub to put forth a proper, world-class regulatory framework in the blockchain and cryptocurrency industry.  All PSA license applicants are expected to demonstrate sound understanding and operational capability in the management of risk and comply to the requirements stipulated in Payment Services Act.

Problem

ACCESS has identified that the greater ecosystem of the industry, like regulators and the banks, are unfamiliar with most solution providers that play an important role in helping our industry players in fulfilling their operational and regulatory requirements. In addition, it also takes a lot of resources for our members to perform their vendor assessment and even more effort to convince regulators and banks of the capabilities of new solution providers that our members subscribed to.

Our Value Proposition

The objective of the independent assessment is to provide our members, regulators and supporting stakeholders like banks with the necessary knowledge and awareness of your company’s solution conducted by our esteemed and very experience consultants.

The independent assessment is NOT an internal audit. But rather a verification exercise.

The assessment will be conducted in 4 broad categories:

1. Company profile

2. Operation and support

3. Product capabilities

4. Cyber security assessment

After the successful completion of the assessment, it will be published for all ACCESS members.

If you would like to find out more information, please email frederick@access.org.sg