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Wirecard 'assessing' if it can continue providing Singapore services

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Published Tue, Jun 30, 2020 · 09:50 PM

    Singapore

    WIRECARD has told Singapore regulators it is "assessing" if it can continue providing services in the Republic - days after the parent of the German fintech collapsed into insolvency after admitting that 1.9 billion euros (S$2.98 billion) in cash on its balance sheet is likely non-existent.

    The Monetary Authority of Singapore (MAS) also said on Tuesday that Wirecard's entities in Singapore have complied with its directions to hold customers' funds in segregated accounts with banks in the Republic.

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    WirecardFintechMonetary Authority of Singapore

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