Tagged: singapore

Fireblocks Tops $30 Billion in Digital Assets Transfers, Sees Strong APAC Demand

Fireblocks reports having topped $30 billion in digital asset transfers and over $7 billion in monthly transfers, according to a company release. Fireblocks is an enterprise-grade platform providing the infrastructure for moving, storing, and issuing digital assets. Fireblocks seeks to enable exchanges, custodians, banks, trading… Read More

Fintech Incomlend Recognized as Best Startup at GTR Leaders in Trade Awards 2020

Incomlend, a global online invoice trading platform, has been recognized at the Global Trade Review (GTR) Leaders in Trade Awards 2020 as the “Best Fintech Startup”. GTR recognizes global top-performing companies in trade, commodity, supply chain, export finance, and fintech markets. Since launching in December… Read More

Singaporean Fintech Firm Helicap Secures $10 Million via Series A Round led by Saison Capital

Fintech firm Helicap has secured $10 million in capital through a Series A investment round led by Saison Capital, the corporate venture capital division of Credit Saison, a Japanese consumer finance company. Helicap’s fundraise consisted of equity and redeemable preference share financing. Existing investor East… Read More

Digital Banking: Senior Citizens in Singapore are Increasingly Using Online-only Banks Due to COVID-19 Outbreak

An increasing number of consumers are now staying indoors and working from their homes, due to the deadly and highly contagious Coronavirus (COVID-19) outbreak. There’s reportedly been a steady growth in digital wealth and online banking solutions and services are increasingly being used, even by… Read More

Insurtech: Singapore-based Axinian, an Insurance Technology Firm, Rebrands itself to “Igloo”, Secures Additional Funding

Singapore-based Axinian, an insurance technology (Insurtech) firm, has reportedly finalized its Series A+ investment round. To date, the company has secured $16 million in capital for its ongoing growth and development. Axinian’s funding round was led by InVent, the corporate venture capital division of Intouch… Read More

COVID-19 Relief: Singapore Fintech Association and Razer Fintech to Offer $100,000 to $1.5 Million to Each Eligible Local Financial Tech Company

The Singapore Fintech Association (SFA) and Razer Fintech will reportedly be offering Financial technology firms in the city-state bridge financing, equity or equity-linked instruments, which will range from anywhere between $100,000 to $1.5 million (appr. S$143,000 to S$2.1 million) According to an April 23, 2020… Read More

Singapore-based Cross-border Payments Firm TranSwap Looking to Raise up to $10 Million in Capital

Singapore-based remittance firm TranSwap is reportedly holding discussions to secure $5-10 million in capital. Benjamin Wong, co-founder and CEO at TranSwap, confirmed that the cross-border payments company is planning to close its investment round “quite soon”. As reported by e27, the Fintech firm has acquired… Read More

Singapore: 0.1% Lending Facility Launched to Support Lending to SMEs

The Monetary Authority of Singapore (MAS) has launched a new lending facility to make certain SMEs have access to capital to mitigate the impact of the COVID-19 pandemic. The MAS SGD Facility for ESG Loans is in partnership with Enterprise Singapore (ESG). The goal is… Read More

Singapore’s Inland Revenue Authority Says it Won’t Collect Taxes on Cryptocurrency Airdrops or Hard Forks

Singapore’s tax authority, the Inland Revenue Authority of Singapore (IRAS), confirmed that it will not be collecting taxes on airdropped cryptocurrency, provided that the recipients get them  for free. As noted in an income tax treatment guide, released on April 17, 2020, the IRAS clarified… Read More

COVID-19: Singapore Tells Population to Stop Going to Banks. Go Digital Please

The Monetary Authority of Singapore (MAS) is telling customers of financial institutions to stop going to brick and mortar locations during the COVID-19 pandemic. MAS is urging consumers to use digital, email, and telephone channels as far as possible. Of course, MAS is telling the… Read More

Digital Payments: OCBC Bank Introduces Google Pay’s Peer to Peer Money Transfer Service in Singapore

The Oversea-Chinese Banking Corporation, Limited (OCBC) Bank (SGX: O39), a multinational banking and financial services corporation, has reportedly become the first company to introduce Google Pay’s peer to peer (P2P) money transfer service in Singapore. The new digital payments option makes Singapore only the third… Read More

Global Agriculture Supply Chains Cargill & Agrocorp Collaborates With Rabobank to Complete Cross-Continent Commodity Transaction of Wheat on a Blockchain Platform Provided By dltledgers

Dutch multinational banking and financial services group Rabobank announced on Monday it has collaborated with global agriculture supply chains Cargill and Agrocorp to completed a cross-continent commodity trade transaction of wheat from North America to Southeast Asia on a blockchain platform provided by Singapore-based dltledgers…. Read More

Digital Asset Marketplace Apifiny Receives Crypto License Exemption in Singapore

Apifiny, a digital asset marketplace that seeks to enable institutional trading across multiple regulated exchanges, announced on Tuesday it has been granted an exemption by the Monetary Authority of Singapore (MAS) from holding a license under that country’s Payment Services Act (PSA). Founded in 2019, Apifiny describes itself… Read More

Monetary Authority of Singapore Provides Clarifications on Payment Services Act in New FAQ

The Monetary Authority of Singapore (MAS) has published an FAQ in regards to the new Payment Services Act. The Payment Services Act has gone through a consultation process with MAS responding in December 2019. The FAQ is meant to provide guidance on the licensing and… Read More

Helicopter Money: Singapore Government to Distribute $600 Each to Singaporeans Tomorrow

Governments around the world are scrambling to backstop halted economies impacted by the ongoing COVID-19 pandemic. Just weeks ago, the global economy was full speed ahead but today with lockdowns, social distancing and face mask requirements in place, businesses are closed and everyone is suffering…. Read More

Monetary Authority of Singapore Postpones Decisions Regarding Digital Banking Applications, Due to Coronavirus Outbreak

Companies and institutions that may have applied for a digital banking license in Singapore will now have to wait longer in order to find out if their application was approved. The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has confirmed… Read More

COVID-19 Relief: Fintech Firm Razer to Support its Business Partners with $50 Million in Capital

Fintech firm Razer, an established global lifestyle brand for gamers, has announced that it will be supporting its business partners, following the Coronavirus (COVID-19) outbreak and resulting economic challenges. Razer has reportedly committed to allocating up to $50 million this year. The funds will be… Read More

Digital Banking: AMTD International Confirms its Secondary Listing on the Mainboard of the Singapore Exchange Securities Trading Ltd

AMTD International (NYSE: HKIB; SGX: HKB), which is part of the AMTD Group, an established Asian financial services conglomerate, has confirmed its secondary listing on the Mainboard of the Singapore Exchange Securities Trading Ltd (the “SGX-ST”) under the ticker “HKB.” AMTD International’s listing notably marks… Read More

An Institutional Client of the Company, Three Arrows Capital Invests in BlockFi, Will Aid APAC Expansion

Digital asset lending company BlockFi has received a strategic investment from Three Arrows Capital (TAC) via a secondary transaction, according to the company. Three Arrows Capital is a crypto hedge fund manager that focuses on emerging markets. TAC has reportedly been providing greater risk-adjusted returns… Read More

Monetary Authority of Singapore Introduces $125 Million Support Package for Fintech Firms and Other Financial Service Providers

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, has introduced a $125 million support package, in order to support local financial service providers and Fintech companies, following the Coronavirus (COVID-19) outbreak, and resulting economic instability. The MAS noted that $90… Read More

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