Tagged: singapore

August 3, 2023 @ 9:25 pm By Omar Faridi  |  

Nium, which claims to be the leader in real-time global payments, has published its 2022 audit, “showing US$82M in net revenue which grew 2.7x YoY and ended at more than $100M net revenue run rate.” Nium says it is Singapore’s first global Fintech “focused on… Read More

August 1, 2023 @ 10:56 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) recently launched a public consultation on a revised framework to strengthen surveillance and defence against money laundering (ML) risks in Singapore’s Single Family Office (SFO) sector. The revised framework will aim to “introduce a harmonized class exemption for SFOs… Read More

July 30, 2023 @ 9:09 pm By Omar Faridi  |  

The United Kingdom and Singapore held the 8th UK-Singapore Financial Dialogue in London. The Dialogue facilitated a useful exchange of views, and “identified opportunities for further collaboration on joint projects, in priority areas such as sustainable finance and FinTech and innovation.” Sustainable Finance Both countries… Read More

July 27, 2023 @ 4:28 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) announced that insurance policy owners will soon have online options to nominate their beneficiaries. Amendments have been “made to the Insurance (Nomination of Beneficiaries) Regulations 2009, to enable insurers to provide these options from 2 January 2024.” The process… Read More

July 27, 2023 @ 3:17 pm By JD Alois  |  

The UK and Singapore have reaffirmed their commitment to partner in certain areas when it comes to Fintech innovation. Both countries are viewed as two of the top Fintech hubs in the world. Sustainable finance was on the list with a statement on the need… Read More

July 27, 2023 @ 8:11 am By Omar Faridi  |  

Commerzbank is reportedly the first German bank to have completed a blockchain-based Letter of Credit (LC) transaction for its client, Ascentex Exim LLP, a Singapore-based textile trader, on Contour, a digital trade finance platform. The LC was issued for “a shipment of rubber threads from… Read More

July 20, 2023 @ 10:51 pm By Omar Faridi  |  

Sumsub announces its plans to make Singapore its APAC headquarters and wider business development goals in the region. This strategic move comes in response “to the escalating threat of identity fraud in the region with the rise in digital startups.” In recent years, Singapore has… Read More

July 18, 2023 @ 11:22 am By Omar Faridi  |  

Thunes, the global B2B payment infrastructure platform, today announced the addition of three prominent investors – Visa, a world leader in digital payments, EDBI, a Singapore-based global investor and Endeavor Catalyst, a San-Francisco co-investment fund of Endeavor – to its Series C funding round, “supporting… Read More

July 17, 2023 @ 10:38 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) have signed a Memorandum of Understanding (MoU) in order “to collaborate on a Financial Transparency Corridor (FTC) initiative.” The initiative aims “to establish supporting digital infrastructures to facilitate trade and cross-border related… Read More

July 6, 2023 @ 10:04 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) recently announced that Maha El Dimachki will join the BIS Innovation Hub (BISIH) team as “the new head of the Singapore Centre, starting on 1 October 2023.” Ms El Dimachki is currently Head of Early and High Growth Oversight… Read More

July 5, 2023 @ 1:27 am By Omar Faridi  |  

Nium, which claims to be the leader in real-time global payments, recently announced the opening of its new headquarters in Singapore. The ceremony was officiated by Mr. Heng Swee Keat, Deputy Prime Minister of Singapore. The new facility, located strategically at Capital Tower in the… Read More

July 4, 2023 @ 6:04 pm By Omar Faridi  |  

This week, it was widely reported that Singapore will soon require cryptocurrency exchanges to keep customer assets in a trust as part of efforts to ensure funds are safeguarded following the implosion of FTX in November. The city-state also plans to push ahead with a… Read More

July 4, 2023 @ 3:54 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) announced new requirements for Digital Payment Token (DPT) service providers to safekeep customer assets under a statutory trust before the end of the year. This will aim to “mitigate the risk of loss or misuse of customers’ assets, and… Read More

July 1, 2023 @ 10:20 am By Omar Faridi  |  

OCBC (SGX: O39) has launched a fully digital account opening service for consumers in its key markets who are relocating to Singapore. These individuals from Malaysia, Indonesia, mainland China and Hong Kong SAR will be able to “open Singapore dollar and multi-currency accounts on the… Read More

June 27, 2023 @ 9:43 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) published a report proposing a framework for designing open, interoperable networks for digital assets (i.e. tokenized real-economy and financial assets). The report Enabling Open & Interoperable Networks was jointly “developed with subject matter experts at the Bank for International… Read More

June 23, 2023 @ 8:34 am By Omar Faridi  |  

Uppsala Security, a global cybersecurity pioneer headquartered in Singapore, announced the relaunch of ChainKeeper, their security platform, which now includes a brand new SaaS model. With this update, the company further “cements its commitment to providing robust, comprehensive, and user-friendly cybersecurity tools for the ever-evolving… Read More

June 22, 2023 @ 9:10 am By Omar Faridi  |  

Ripple, which claims to be the leader in enterprise blockchain and crypto solutions, announced that its Singapore subsidiary Ripple Markets APAC Pte Ltd, has obtained In-Principle Approval of the Major Payments Institution License application from the Monetary Authority of Singapore (MAS). This license will allow… Read More

June 21, 2023 @ 8:04 am By Omar Faridi  |  

Gemini is pleased to announce their expansion plans in APAC as Gemini’s leadership team recently visited the region on their global odyssey “to propel the promise of crypto.” Over the next 12 months, they plan “to increase their headcount to 100+ in Singapore.” Gemini’s APAC… Read More

June 18, 2023 @ 3:41 pm By Omar Faridi  |  

Sygnum announces the upcoming expansion of its regulated operations in Singapore following the in-principle approval of its Major Payment Institution Licence (MPIL) application. The expanded Singapore offering includes regulated crypto brokerage service. It marks the latest expansion of Sygnum Singapore’s regulated activities “following the three-part… Read More

June 18, 2023 @ 3:38 pm By Omar Faridi  |  

Pilon, a Singapore-headquartered FinTech firm that offers cloud-based Supply Chain Financing system, announced that it has successfully secured a top-up round from Philippines-based Kaya Founders “to accelerate growth plans and strengthen its presence in the Philippines market.” This undisclosed round of funding “follows a highly… Read More