Tagged: singapore

Abaxx Technologies Obtains Approved Clearinghouse License and Recognized Market Operator License from MAS

Abaxx Technologies Inc., a financial software and market infrastructure company, majority shareholder of the Abaxx Commodity Exchange and Clearinghouse, announces that the Monetary Authority of Singapore (MAS) has granted an Approved Clearinghouse (ACH) license and Recognized Market Operator (RMO) license “to Abaxx Singapore’s fully owned… Read More

Investment Platform Robocash Reports €22M Invested, 392 New Clients, €754K Earned by Investors in Nov 2023

Robo.cash said it has closed out November with new milestones. Robo.cash noted that November 2023 brought them several new positive developments. They reached the mark of 35,000 investors and total investor earnings “crossed the €20M milestone.” According to insights shared by Robocash, the APAC region… Read More

Singapore’s Accounting and Bookkeeping Sector Undergoing Considerable Business and Digital Transformation, Report Claims

Xero, the global small business platform, has released a new report revealing Singapore’s accounting and bookkeeping sector is undergoing significant transformation, “driven by technology innovation and shifting client expectations.” Xero’s State of the industry report “surveyed 300 accountants and bookkeepers working in Singaporean practices to… Read More

Singapore Fintech Festival a Big Hit this Year as Participants Top 66,000

Singapore is well-recognized as the top Fintech hub in Asia. Receiving solid support from the government of Singapore, the small country has hosted an annual Fintech event and according to a public statement, participation in the annual Singapore Fintech Festival topped 66,000 participants this year,… Read More

Habyt and Rently Provide Deposit-Free, Flexible Living Solutions to Singapore, Hong Kong

Hong Kong City

Habyt, the flexible housing provider,  announced an exclusive partnership with Singapore-based startup, Rently, that marked a significant milestone in “the evolution of flexible living solutions.” For the first time in the co-living sector, Habyt has introduced “a disruptive rental model which allows new members freedom… Read More

Monetary Authority of Singapore: Singapore Tightens Regulations on Digital Payment Token Providers

The Monetary Authority of Singapore (MAS) has released its final set of regulations to enhance the oversight of Digital Payment Token (DPT) services, following up on its initial legislative amendments in July 2023. MAS said in a statement that the consulted proposals detail business conduct… Read More

Fintech Solutions: Adyen for Platforms Integrates with TabSquare, a Delivery Hero Entity, to Improve CX

Adyen (AMS: ADYEN), the global financial platform of choice for leading companies, announced the successful integration of Adyen for Platforms for TabSquare, a Delivery Hero entity, to further enhance customer experience across all channels for Quick Service Restaurants (QSR) in Singapore. Adyen for Platforms is described… Read More

Singapore: Credit Management Platform Lendela Raises $5m for Asia Expansion

Lendela, a Singapore-based digital loan matchmaker, has announced raising $5 million in funding anchored by Chocolate Ventures, a venture investment firm started by Singlife founder and former group CEO Walter de Oude. The Series A funding round was also backed by Lendela’s seed investor Cocoon… Read More

Green Fintech Seen As Promising New Growth Area in Southeast Asia

Green fintech has become a promising new growth area in Southeast Asia, with green fintech firms bringing innovative solutions to help businesses and governments address challenges and opportunities of going green. This insight was part of the report – Fintech in ASEAN 2023: Seeding the… Read More

Sygnum Singapore Onboards Bordier as B2B Partner Bank

Bordier & Cie (Singapore) is Sygnum Singapore’s first B2B client since the latter received its MAS Major Payment Institutions license in October 2023 and launched its regulated Digital Payment Token (DPT) brokerage service. Globally, Sygnum has enabled “the 15+ banks and international financial institutions on… Read More

Ant International, Grab, and StraitsX Explore PBM for Cross-Border Payments

Ant International, Grab, and StraitsX have announced a collaborative effort to explore the potential application of Purpose Bound Money (PBM) in cross-border payments. PBM is a protocol that specifies the conditions upon which an underlying digital currency can be used and first introduced by MAS… Read More

Fintech: Singapore and Malaysia Launch Cross-Border Payment Linkage

The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have jointly introduced a real-time payment systems linkage connecting Singapore’s PayNow and Malaysia’s DuitNow. This initiative builds upon the earlier QR payment linkage announced on March 31, 2023, facilitating cross-border QR payments to merchants…. Read More

CBDCs: MAS Establishes Foundation for Usage of Digital Money in Singapore

The Monetary Authority of Singapore (MAS) unveiled three initiatives to ensure the safe and innovative use of digital money in Singapore, namely: a blueprint outlining the infrastructure required for a digital Singapore dollar; expanding digital money trials; and a plan to issue a “live” central… Read More

Paxos Obtains In Principle Approval from MAS for New Entity, Will Issue USD-Backed Stablecoin in Singapore

Singapore at Night Marina Bay

Paxos, the regulated blockchain & tokenization infrastructure platform, secured in principle approval (IPA) from the Monetary Authority of Singapore (MAS) for its new Singapore entity, Paxos Digital Singapore Pte. Ltd. to offer digital payment token services. Paxos Digital Singapore will issue “a new US dollar… Read More

Singapore’s dtcpay Teams Up with PlatON, a Privacy-Preserving Digital Public Infrastructure Provider

dtcpay is pleased to announce their partnership with PlatON, a firm focused on privacy-preserving digital public infrastructure, and Tonghua International’s Allinpay International, a global Fintech payments solution. dtcpay, PlatON, and Allinpay International announce collaboration will “launch an innovative digital currency payment system based on smart… Read More

Singapore: Fintech Startup BondbloX Raises $6 Million in Series B Funding

BonEvalue Pte Ltd (BondbloX), a Singapore-based fintech startup that provides easy access to bonds for investors, has secured $6 million in a Series B round. The funding round was backed by Beacon Venture Capital, the corporate venture arm of Thailand’s Kasikornbank. Existing shareholders MassMutual Ventures… Read More

Cryptocurrency Lending Platform Hodlnaut Reportedly Ordered to Wind Down Operations and Repay 17,000 Clients

Cryptocurrency lender Hodlnaut has started its liquidation in Singapore. As widely reported, Hodlnaut is to be liquidated in Singapore following a failed attempt to restructure the firm’s business operations. The company reportedly lost funds during the Terra/Luna collapse and the demise of FTX in late… Read More

Singapore Small Business Owners Dip into Personal Savings, Raise Prices to Mitigate Increasing Costs – Report

Singapore small business owners are dipping into their personal savings, increasing their prices, and not paying themselves to mitigate rising costs and make a profit, according to a new report from global small business platform Xero. The report titled “Money matters: navigating the impact of… Read More

Fintech: Digital Finance Platform Funding Societies Raises $7.5m for SE Asia SMEs

Funding Societies (Modalku), a unified small and medium enterprises (SME) digital finance platform in Southeast Asia, has announced raising $7.5 million in debt from Norfund, Development Financial Institution (DFI) operated by the Norwegian government. DFIs have played a significant role in impact investments in Southeast… Read More

Fintech Fave Joins Monetary Authority of Singapore in PoC to Enable Interoperability Across QR Payments Ecosystem

Fave, a consumer fintech platform in Southeast Asia and India, has announced its participation in the SGQR+ POC led by the Monetary Authority of Singapore (MAS). The SGQR+ POC will be limited “to Districts 16 and 17 of Singapore and showcased during the Singapore FinTech… Read More

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