Ravi Menon has been at the MAS helm since 2011 but is set to pass the torch to Chia Der Jiun.
Menon's former deputy, Chia Der Jiun, is tipped to be his successor when the MAS chief's term ends on 31 May.
Chia is the Ministry of Manpower's permanent secretary for development – a role he took in 2020 after serving the MAS for 16 years.
Singapore’s Public Service Division – in charge of appointing top leaders across the city’s public agencies – said it has "no information to provide at this moment" regarding Menon's resignation.
Menon's next step also remains a mystery. Whilst his predecessors Heng Swee Keat, Tharman Shanmugaratnam and Richard Hu joined politics after their MAS stint, Menon previously said he has “absolutely no intention to enter politics.”
Menon tied the elements and their characteristics to five desired outcomes for fintech sector: instant remittance, atomic settlement, programmable money, tokenised assets, and trusted sustainability data.
Read more: MAS’ Ravi Menon Invokes Wuxing in Vision for Fintech
Calling crypto winter an opportunity for “overdue cleansing of unsustainable business models, highly risky practices, and unviable use cases,” Menon said he expects the digital asset industry to emerge leaner and stronger.
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