Virtual Asset Payments Group
The Association of Crypto-Currency Enterprises and Start-ups Singapore (ACCESS), in response to industry feedback and the fast changing needs of our industry and the larger Fintech scene, will be launching the Virtual Asset Payments Group (“VAPG”) and the VAPG Subcommittee.
VAPG aims to provide a platform for our members to constitute a consultative body that reflects and promotes responsible best practices as part of the rapidly growing and burgeoning vibrant payments services ecosystem in and around Singapore, by focusing on 5 key pillars:
1. Cultivating an environment beneficial for the sharing and broadening of industry knowledge and information;
2. Catalyzing deeper engagement opportunities throughout the digital assets industry;
3. Facilitating regulatory discussions with MAS and other global regulators;
4. Encouraging cross-industry cooperation and coordination on regulatory discussions and industry-wide initiatives, including with International Digital Asset Exchange Association (“IDAXA”) and Singapore Fintech Association (“SFA”); and
5. Enhancing ACCESS' capabilities and resources to better represent the interest of its members in this space
Activities and resources that members will have access to include:
1. Invitations and timely access to industry consultations on payments related policies and regulations;
2. A platform for regular industry and regulatory engagement on matters of common interest, concern and/or benefit;
3. Industry research and surveys conducted to better understand the payments landscape;
4. Initiatives to help members gain increased visibility at key industry events; and
5. And more depending on members' ideas and contributions once VAPG is inaugurated.
There are 2 ways for members to be involved:
Virtual Asset Payments Group (“VAPG”) member - Open to all current ACCESS members . We especially encourage members who are payment service providers operating in Singapore (licensed or exempt under the Payment Services Act), and technology solution providers supporting the payments industry to step forth in this capacity.
VAPG Subcommittee - The ACCESS Board will select from amongst the VAPG members who have also expressed interest to serve in this capacity. This Sub-Committee will hold regular roundtable discussions for the purposes of coordinating industry input for responses to regulatory consultations and other input.
Key Dates to note:
Nov 2nd - VAPG Applications Open
Nov 9th - Deadline for submissions. Members who have also indicated interest to serve on the VAPG Sub-Committee will be contacted with next steps
Nov 16th – VAPG initial members and VAPG Sub-Committee preliminary decision announced. Members can continue to apply for Sub-Committee participation post this date.
Nov 18th – VAPG Sub-committee officially commences with inaugural meeting organised and led by moderators Anson Zeall & Grace Chong, to discuss Group Mandate and initial response to MAS Queries re Stablecoins, whereby our input will be shared with the Singapore Fintech Association and MAS If you're interested in participating in the Virtual Asset Payments Group (VAPG) and/or the VAPG Sub-committee, please fill in the form below.
Those that have indicated to participate in the VAPG sub-committee but were not successful in the selection, your contributions to the VAPG will greatly enhance your chances to join the VAPG Subcommittee as well as other ACCESS initiatives in the future.
*Note: Expired ACCESS members and non-members who wish to participate in VAPG must first join ACCESS and have their ACCESS membership dues fully paid up by 18 November 2021.
Looking forward to your participation!
Best regards,
ACCESS Team
Google Form: https://forms.gle/z5Jaz434sXMBnaRx7