Tagged: singapore

Global Impact Fintech (GIFT), a Multinational Think Tank for Blockchain and Financial Technology, Expands its International Presence

Global Impact Fintech (GIFT), a multinational non-profit think tank of government, regulatory, industry, technology and financial technology professionals from over 35 countries (including India and Singapore), continues to expand its presence across the globe. GIFT is a forum that brings together policymakers and Fintech, general… Read More

Singapore Fintech GoBear Secures $17 Million Through Latest Investment Round to Expand Financial Services For Asian Markets

GoBear, a Singapore-based fintech, has reportedly secured $17 million through its latest investment round. The investment brings GoBear’s total funding to $97 million. Founded in 2014, GoBear claims to be Asia’s leading financial supermarket whose purpose is to improve financial health. The platform empowers consumers… Read More

Digital Asset Derivatives Trading Platform, Delta Exchange, Acquires Strategic Investment from New York’s CoinFund

Delta Exchange, an established cryptocurrency derivatives exchange that maintains offices in Singapore, has received funding from New York-headquartered blockchain investment firm, CoinFund. As mentioned in a release shared with CI, the new investment will provide Delta Exchange with the resources needed to scale its operations… Read More

Digitally Advanced Southeast Asian Banks Expected to Accelerate Digital Transformation Strategies Due to COVID-19: Report

Southeast Asian banks will most likely accelerate their digital transformation initiatives, due to the COVID-19 outbreak and changing consumer behavior resulting from safe distancing measures and lockdowns. Incumbents could be challenged more than ever before, as they might struggle to offer the same level of… Read More

Singapore’s CapBridge Financial Acquires Equity Investments from SGInnovate, Cyberport Macro Fund

Singapore-headquartered CapBridge Financial has acquired equity investments from SGInnovate, a private organization wholly-owned by the Singapore government. SGInnovate aims to help scientists establish “Deep Tech” startups. CapBridge has also received investments from the Cyberport Macro Fund, which offers seed to Series A stage funding to… Read More

Singapore’s OpenNodes to Work with Chinese Digital Bank WeBank to Develop Apps on the FISCO BCOS Platform

Leading Chinese digital bank, WeBank, has teamed up with OpenNodes, a distributed ledger technology (DLT) platform developed by the Singapore-based Infocomm Media Development Authority, a statutory board of the nation’s government, under the Ministry of Communications and Information. WeBank will provide the FISCO BCOS blockchain-enabled… Read More

Singapore’s Silverlake Symmetri Becomes Distribution Partner of Swedish Fintech Dreams’ Savings and Investment Platform in Asia, Middle East

Stockholm-based Dreams is a Fintech firm that focuses on providing a consumer-based app to help people live sustainably by developing good savings habits. The company’s app and services aim to help users make better use of their income, make smart investments, pay off debts, and… Read More

Digital Banking: OCBC in Singapore Prepares for Increased Demand for Virtual Payment Services and Online Portals

The Oversea-Chinese Banking Corporation, Limited (OCBC) Bank (SGX: O39), a multinational banking and financial services corporation, has revealed that it’s planning to change its branch network strategy, following the COVID-19 outbreak. OCBC, which is notably Singapore’s second-largest bank, claimed during its virtual annual general meeting… Read More

Lawsuit Filed Against BitMEX, a Major Cryptocurrency Derivatives Exchange, for Allegedly Engaging in Illegal Activities like Money Laundering, Racketeering

A lawsuit was filed on May 16, 2020, against HDR Global Trading Ltd, the parent company of the Hong Kong-operated Bitcoin Mercantile Exchange (BitMEX), a leading digital currency derivatives exchange that averages billions of dollars worth of daily trading volume. The 106-page lawsuit has also… Read More

Crypto & Banking: Singapore’s Anquan Capital Partners with Fintech Arm of Germany’s WEG Bank, which Operates Under TEN31 Bank

Singapore-based Anquan Capital Pte. Ltd, a group of technology firms, has teamed up with the Fintech division of Germany’s WEG Bank AG, which offers services under the TEN31 brand name. Anquan Capital has established several innovative tech companies including Anqlave, Aqilli, and Zilliqa. TEN31 Bank,… Read More

Fintech Firm EedenBull to Expand its Presence in the B2B Digital Payments Sector

Fintech firm EedenBull will be expanding its presence in the evolving B2B payments sector. The Norwegian and Scottish company revealed recently that it’s planning to introduce its commercial cards platform to banks interested in exploring the vast potential opportunities in the B2B space. EedenBull’s management… Read More

Monetary Authority of Singapore Posts Response on Constulation Regarding Derivatives Contracts and Payment Tokens

  The Monetary Authority of Singapore (MAS) has posted a response to a consultation regarding the regulation of derivative contracts on payment tokens (ie digital currencies such as Bitcoin or Ethereum used as a method of payment). The original consultation was launched in November 2019… Read More

Fiat and Crypto Payments Platform Wirex Applies for Singapore License

Wirex, a payments platform, reports that it is working closely with the Monetary Authority of Singapore (MAS) in order to acquire a license under the new Payments Services Act. The license will allow Wirex to continue to provide services in Singapore, including enabling users the… Read More

Fintech Spark Systems Raises S$ 15 Million

  Singapore based Fintech Spark Systems has closed on a “Series BB” funding round raising S$15m (USD $10.5m). The funding comes from Citi and HSBC as well as OSK Ventures. They will join the existing investor base including; Vickers Venture, Dymon Asia Ventures, Dymon Asia… Read More

Temasek, Paradigm and Slow Ventures Join the Libra Association

The Libra Association has added three new members: Temasek, Paradigm, and Slow Ventures. Launched by Facebook, the Libra Association is a Switzerland-based independent entity seeking to launch a blockchain-based payment system. Recently, Libra tweaked its white-paper backing away from its original intent to launch a… Read More

Singapore’s SME Financing Plaform Validus Secures $14 Million, with $20 Million in Committed Capital via Series B+ Round

Singapore-headquartered Validus, a financing platform focused on SMEs, has secured more than $14 million in funding, with $20 million in committed capital, from a Series B+ investment round. Validus’ round was co-led by Kuok Group’s Orion fund (managed by K3 Venture Partners) and the Vertex… Read More

Monetary Authority of Singapore, Singapore Fintech Association & AMTD, Introduce Grant Program to Support Fintechs

The Monetary Authority of Singapore (MAS), Singapore Fintech Association (SFA), AMTD Group (NYSE: HKIB; SGX: HKB) and AMTD Foundation have joined in announcing a S$ 6 million “MAS-SFA-AMTD Fintech Solidarity Grant.” The new grant is designed to support Singapore based Fintech firms during the Coronavirus… Read More

Fintech Firm Nium Acquires Additional Funding from Visa, BRI Ventures, GSR Ventures, Vertex Ventures, Others

Fintech firm Nium revealed on May 5, 2020 that it had managed to secure a new round of equity funding. The company’s round received contributions from new investors BRI Inventures, the corporate venture division of Bank BRI of Indonesia, and payments giant Visa. Nium’s latest… Read More

Singapore-based Online Security Firm V-Key Chosen as TONIK Digital Bank’s Official Mobile Security Partner

Singapore-based digital security firm V-Key announced on May 5, 2020, that it will be the official mobile security partner of TONIK Bank, which is an all-digital bank that is expected to launch in the Philippines later this year. V-Key will aim to offer a secure… Read More

Monetary Authority of Singapore to Support G20 TechSprint Initiative which Helps Fintechs, Regulators, Reserve Banks in Communicating with Each Other

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator,  confirmed recently that it would be supporting the inaugural G20 TechSprint initiative, which has been introduced by the Bank for International Settlements (BIS) Innovation Hub and the Saudi G20 Presidency on the… Read More

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