Tagged: singapore

October 28, 2023 @ 4:22 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) has initiated a public consultation process as it seeks to revamp the regulatory framework governing fund managers. The proposal aims to disband the existing Registered Fund Management Companies (RFMCs) regime, providing an opportunity for current RFMCs to transition to… Read More

October 22, 2023 @ 12:12 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS) in Riyadh, in the field of Fintech and innovation. The agreement was signed by Ayman Al-Sayari, Governor of SAMA, and Dr. Vivian Balakrishnan, the Minister for Foreign Affairs of… Read More

October 15, 2023 @ 6:55 pm By Michael Wong  |  

Singapore-based Web3 wallet solution provider Account Labs has announced plans to launch a new wallet that will allow users to access using just a Google account following a successful fundraising of $7.7 million. Account Labs announced that funding round was backed by a number investors… Read More

October 12, 2023 @ 6:08 am By Omar Faridi  |  

Stripe, a financial infrastructure platform for businesses, introduced its latest product innovations at Stripe Tour Singapore. Stripe products are positioning businesses of all sizes in Southeast Asia “to take advantage of surging consumer demand in the region for online goods and services.” A recent Stripe… Read More

October 11, 2023 @ 8:21 am By Omar Faridi  |  

UnaFinancial, a Singapore-headquartered Fintech group (previously known as Robocash), has teamed up with Velexa, a UK-based wealthtech firm, in order to introduce a digital investing platform in the UAE. UnaFinancial and Velexa revealed that the collaboration aims to leverage Velexa’s expertise in investment tech and… Read More

October 4, 2023 @ 7:42 am By Omar Faridi  |  

Earlier this year, Ripple received in-principle approval of its Major Payments Institution (MPI) license application from the Monetary Authority of Singapore (MAS). Four months on, Ripple is pleased to “announce that its Singapore subsidiary, Ripple Markets APAC Pte Ltd, has secured its full MPI license… Read More

October 3, 2023 @ 11:00 pm By Omar Faridi  |  

Canada has the highest growth rate of fintech adoption across six markets, according to research shared by Tipalti. A new study, conducted by Tipalti, analyzed factors “such as global fintech adoption rates, Google searches for fintech by country and the regions that have the highest… Read More

October 2, 2023 @ 8:41 am By Omar Faridi  |  

Coinbase Singapore has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This development, coming after Coinbase’s (NASDAQ:COIN) initial In Principle Approval, amplifies their commitment to the Singapore market, enabling them “to expand their provision of Digital Payment Token services to… Read More

September 30, 2023 @ 3:40 pm By Michael Wong  |  

The Bank for International Settlements (BIS) has successfully completed Project Mariana, a collaborative endeavor with the central banks of France, Singapore, and Switzerland, aiming to explore the potential of wholesale central bank digital currencies (wCBDCs) in cross-border trading and settlement between financial institutions. Developed jointly… Read More

September 29, 2023 @ 5:06 pm By JD Alois  |  

Three Arrows Capital (3AC), a digital asset hedge fund, co-founder Su Zhu has been arrested at the Changi Airport in Singapore, according to multiple reports. 3AC was a catalyst in the crypto collapse of 2022. Things took a dramatic turn for the worse when TerraUSD/LUNA… Read More

September 28, 2023 @ 10:47 pm By Omar Faridi  |  

Currencycloud, the Fintech focused on simplifying business in a multi-currency world, has more than tripled its Chinese customer growth rate across Asia-Pacific since establishing its APAC headquarters in 2021, “with its Chinese client base expanding from four to 12 organisations across the region.” As one… Read More

September 28, 2023 @ 10:08 pm By Omar Faridi  |  

Rapyd, a global fintech firm, announced the expansion of its card acquiring solution to Singapore. This solution, when combined with Rapyd’s core Fintech as a Service platform, equips local businesses with the tools “to elevate their market presence locally and extend their global reach to… Read More

September 26, 2023 @ 9:23 pm By Michael Wong  |  

Funding Societies, also known as Modalku, Southeast Asia’s largest unified SME digital finance platform, has successfully secured $27 million in debt funding, led by private credit financier AlteriQ Global. Multi-family office Aument Capital Partners (ACP) and sustainability-focused fund Orange Bloom also contributed to this funding… Read More

September 26, 2023 @ 8:47 pm By Michael Wong  |  

The Asia Pacific region continues to hold on to its position as the top source of global capital in H1 2023, with Singapore, Hong Kong, and Japan seizing spots among the top five global deployers of capital. Colliers’ recently published Global Capital Markets: Insights &… Read More

September 26, 2023 @ 8:44 pm By Michael Wong  |  

iStudio, an Apple Premium Reseller in Singapore, has recently partnered with Triple-A, a crypto payment gateway sanctioned by the Monetary Authority of Singapore (MAS) to allow customers to make purchases using cryptocurrencies at selected iStudio stores. The iStudio stores include those in Jurong Point, Tampines… Read More

September 26, 2023 @ 8:26 pm By Michael Wong  |  

Singapore multinational banking and financial services firm OCBC has announced that the OCBC Pay Anyone app will be retired in October, with the exact date to be confirmed soon. This is part of OCBC’s commitment to offer an enhanced app experience by integrating the features… Read More

September 24, 2023 @ 3:51 pm By Michael Wong  |  

In what is being touted as Singapore‘s most significant money laundering operation, authorities reported a staggering increase in the total value of assets confiscated, now amounting to S$2.4 billion ($1.76 billion), according to a police announcement. The huge inventory of seized assets now encompasses over… Read More

September 22, 2023 @ 1:11 am By Michael Wong  |  

Starting next year, four top insurance companies headquartered in Singapore – AIA Singapore, Income Insurance, Prudential Assurance Company Singapore, and The Great Eastern Life Assurance Company – will undergo heightened capital requirements, the Monetary Authority of Singapore (MAS) has announced. Specifically, the four insurers will… Read More

September 21, 2023 @ 2:11 pm By Michael Wong  |  

Singapore-based insurtech firm bolttech has announced raising $50 million in its Series B funding round anchored by impact investment firm LeapFrog Investments. The latest funding round brings bolttech’s Series B round to $246 million, marking the most substantial Series B round for any insurtech company… Read More

September 20, 2023 @ 7:26 pm By Michael Wong  |  

Sumsub, an international verification platform, has entered into a partnership with dtcpay, a prominent payment service provider based in Singapore. This collaboration aims to enhance the security and reliability of digital currency transactions, specifically in Singapore, Hong Kong, Dubai, UK, and Europe. A significant element… Read More