Tagged: singapore

June 30, 2020 @ 2:54 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS), the top financial regulator in Singapore, has issued a statement indicating Wirecard AG (WDI:DE) customer funds have been parked in Singapore banks thus segregating the funds from the Wirecard implosion. Wirecard is not currently licensed by MAS as there is… Read More

June 29, 2020 @ 10:52 pm By Omar Faridi  |  

Building Cities Beyond (BCB) Blockchain has introduced its BCB Innovation Grant. The Singapore-headquartered distributed ledger technology (DLT) developers are focused on supporting various smart city solutions. As first reported by Singapore Fintech News, BCB Blockchain confirmed that it will be awarding $15 million in grant… Read More

June 25, 2020 @ 10:44 pm By Omar Faridi  |  

GREAT Eastern (Life Assurance), the largest life insurance company in Singapore and Malaysia, will be investing $70 million into Axiata Digital’s financial services business, in order to take part in the company’s Fintech-focused plans, according to Khor Hock Seng, group CEO at Great Eastern. The… Read More

June 24, 2020 @ 8:00 am By JD Alois  |  

The Algorand Foundation and Circle have partnered to bring a stablecoin, USD Coin (USDC) using the Algorand blockchain. The implementation is scheduled for Q3. The move was described as a shift away for Ethereum and its congested network and affiliated high fees and performance limitations…. Read More

June 23, 2020 @ 9:00 am By JD Alois  |  

  BlockFi, a digital asset financial services firm, has boosted its Asia presence with the new hire of Rishi Ramchandani as Director of Business Development, Asia. According to BlockFi, Ramchandani most recently led global and Asia equities teams for Bank of America Merrill Lynch. As crypto… Read More

June 23, 2020 @ 7:58 am By Omar Faridi  |  

Singapore’s Fintech firms continue to attract substantial investments, despite the global COVID-19 outbreak and resulting socio-economic challenges. Singapore Fintechs have been able to secure a total of $650 million in capital so far this year, which notably includes a record high of $462 million in… Read More

June 22, 2020 @ 8:36 am By JD Alois  |  

CoAssets, a Singapore based Fintech that listed its shares on the Australian Securities Exchange in 2016, has announced the delisting of its shares. According to a release by the company, CoAssets requested a voluntary delisting for the following reasons: Low shareholder numbers – The Company… Read More

June 21, 2020 @ 6:28 pm By Omar Faridi  |  

Asian Fintech firm BigPay announced on June 19, 2020, that it has added Australia and Vietnam to its global remittance service, and will be adding China soon. The company added Bangladesh and India in January of this year. BigPay’s management noted that they’re committed to… Read More

June 19, 2020 @ 7:59 pm By Omar Faridi  |  

AMTD Group (NYSE: HKIB; SGX: HKB), an integrated, licensed, comprehensive, non-bank financial institution group that offers several different financial services, has introduced a Fintech leadership program. The Singapore Management University (SMU), the Institute of Systems Science at the National University of Singapore (NUS-ISS), and Xiaomi… Read More

June 19, 2020 @ 6:57 pm By Omar Faridi  |  

Singapore-based Institutional Lending Exchange (iLex), a Fintech firm focused on developing a multilateral digital or e-market platform that will support the deal flow and liquidity opportunities for loan market participants, has reportedly finalized its seed funding round. The amount raised has not been disclosed. Investors… Read More

June 19, 2020 @ 10:50 am By JD Alois  |  

A new private securities exchange, Hg Exchange, has joined the Monetary Authority of Singapore’s (MAS) Fintech Sandbox. Hg Exchange’s tenure at the Fintech Sandbox begins on June 22, 2020, and is scheduled to last until December of this year. Hg Exchange will offer 24/7 trading… Read More

June 19, 2020 @ 8:56 am By Omar Faridi  |  

The Robocash Group, a multinational financial group that offers consumer alternative lending and marketplace funding in European and Asian markets, has reportedly initiated a pre-IPO funding round to help finance the planned launch of its digital bank in the Philippines. Founded in 2013 in Russia… Read More

June 19, 2020 @ 12:30 am By Omar Faridi  |  

Asia’s Fintech industry has been negatively affected due to socio-economic challenges resulting from the COVID-19 outbreak. There’s reportedly been a significant decline in the number of financial technology deals closed. The amount of venture capital acquired by Fintechs in the Asia-Pacific (APAC) region dropped 58.5%… Read More

June 18, 2020 @ 11:28 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced that 14 out of 21 applications to become digital banks have met the eligibility criteria for the Fintechs to be considered. MAS announced on June 28, 2019, that it would issue up to two digital full bank… Read More

June 16, 2020 @ 11:15 pm By JD Alois  |  

InstaReM has announced a new service that helps SMEs in Singapore with their cash flow. The service termed BizPay, utilizes credit limits in corporate cards and converts them into working capital, according to a release from the company. InstaReM, the consumer and SME brand that… Read More

June 16, 2020 @ 8:28 am By Omar Faridi  |  

The developers and management TikTok, a leading Chinese video-sharing social network, are reportedly branching out into the financial services sector with the owners of the Oversea-Chinese Banking Corporation, Limited (OCBC) Bank (SGX: O39), a multinational banking and financial services corporation. Beijing-based ByteDance, a Chinese multinational… Read More

June 13, 2020 @ 10:00 pm By Omar Faridi  |  

Singapore-based GBCI Ventures, a venture capital and private equity firm, has made a strategic $11 million investment in Fintech startup Fincy. The company is also in the process of finalizing external funding. The Fincy team describes their platform as a multi-purpose solution providing digital and… Read More

June 12, 2020 @ 7:03 pm By Omar Faridi  |  

The Singapore Fintech Association (SFA), a cross-industry non-profit initiative that’s focused on supporting collaboration between all market participants and stakeholders in the financial technology industry, has introduced a digital self-assessment framework to improve working relationships between companies. According to the association, the framework should expedite… Read More

June 12, 2020 @ 11:08 am By Omar Faridi  |  

  Australia is reportedly planning to extend one of its Fintech agreements with the UK. The agreement is designed to help Fintech firms in each country by making it easier for them to acquire operational licenses. Both jurisdictions also aim to increase cooperation and collaboration… Read More

June 10, 2020 @ 1:52 pm By Samantha Hurst  |  

Airwallex, an Australia-based fintech company, recently announced it has launched a new payment acceptance service in Australia, Hong Kong, and Singapore with WeChat Pay. The company reported that the service is allowing merchants to add WeChat Pay as an additional payment option on the e-commerce… Read More