Tagged: singapore

April 9, 2020 @ 7:17 am By Omar Faridi  |  

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

April 7, 2020 @ 8:00 pm By JD Alois  |  

Propine Seeks to Power the Future of Digital Assets Singapore has long been a leader in Fintech. Innovative financial services have benefited from a supportive regulatory regime and an entrepreneurial population. Singapore is also a highly business-friendly, low tax jurisdiction and has emerged as a… Read More

April 6, 2020 @ 1:32 pm By Xu Gao  |  

Risk Alert against the Hype of Overseas Virtual Currency Exchanges Back in 2017, the People’s Bank of China (PBC), Cyberspace Administration of China and other 5 ministries published the “Notice on Guarding against Risks of ICOs”, stipulating that virtual currency trading and ICOs are illegal… Read More

April 4, 2020 @ 4:33 pm By Omar Faridi  |  

Kenneth Bok, head of growth and strategy at Zilliqa, an established blockchain project that provides infrastucture to StraitsX, a stablecoin initiative introduced by the Fintech payments provider Xfers, recently shared his views and insights with Crowdfund Insider. Xfers is accredited by the Monetary Authority of… Read More

April 3, 2020 @ 10:34 am By Samantha Hurst  |  

Global financial services giant JPMorgan recently announced it has established an electronic foreign exchange (FX) trading and pricing engine in Singapore. The launch was notably launched with support from the Monetary Authority of Singapore (MAS). JPMorgan reported that the new trading engine, which was first… Read More

April 2, 2020 @ 9:33 pm By Omar Faridi  |  

Singapore-based Smartly, a Robo-advisory platform, is reportedly planning to close down its business operations, due to intense competition in the wealth management and technology (Wealthtech) industry. Established in 2015 and acquired in 2019 VinaCapital, a Vietnamese investment management company, Smartly’s management has been struggling  to… Read More

March 30, 2020 @ 9:27 am By Samantha Hurst  |  

Singapore-based global cryptocurrency exchange KuCoin recently announced the launch of its new project “Project Pinocchio” together with 21 blockchain institutions from around the world. KuCoin describes Project Pinocchio as a neutral and credible alert platform for less trustworthy projects in the cryptocurrency industry. The platform… Read More

March 30, 2020 @ 8:01 am By Omar Faridi  |  

Yves Roesti, Sean Huang, Xuna Shao and Joshua Choy from Synpulse, a financial services consulting company, point out that most digital banks were launched without physical branch locations. What makes neobanks stand out from incumbents is their ability to leverage technology to differentiate their product… Read More

March 26, 2020 @ 8:00 pm By Omar Faridi  |  

Delta Capita, a financial services consulting company, has acquired $50 million in capital from Prytek Holdings, a Singapore-based venture capital firm. As noted on Delta Capita’s official website: “We work with the world’s [largest] financial institutions to help them comply with regulations, simplify operations, reduce… Read More

March 26, 2020 @ 6:55 pm By Omar Faridi  |  

Delta Exchange, a crypto asset derivatives exchange, reports that it has maintained a stable monthly trading volume of $400-$500 million. Delta Exchange’s management revealed on March 3, 2020, that they’re introducing their options products, including BTC-MOVE and ETH-MOVE contracts. Delta Exchange is reportedly the first… Read More

March 26, 2020 @ 6:31 pm By Omar Faridi  |  

Singapore-based Fintech company MatchMove has partnered with local finance firm, Singapura Finance Ltd., and two others, in order to apply for a virtual banking license in the city-state. The MatchMove-led consortium is the most recent group to reveal that it has filed an application for… Read More

March 25, 2020 @ 8:51 pm By Omar Faridi  |  

Nearly 65% of Singapore residents say they would consider working with an all-digital bank, according to the recently published Visa Consumer Payment Attitudes Study. The study reveals that 84% of Singapore-based respondents said that they’d be willing to use virtual banking services offered by an… Read More

March 24, 2020 @ 11:34 pm By Omar Faridi  |  

Big Data and artificial intelligence firm ADVANCE.AI aims to assist businesses based in Asia with their digital transformation strategies. ADVANCE.AI is expanding its business operations into India by establishing business offices in Bangalore and New Delhi. The Singapore-headquartered firm also intends to open an office… Read More

March 24, 2020 @ 3:08 pm By JD Alois  |  

InvestCloud has selected Taryn Balthazar to lead its Asia-Pacific expansion. Based in Singapore, Balthazar will look to scale up the  company’s presence as demand for digital wealth management solutions increases across the region. InvestCloud is a Fintech that specializes in digital platforms that enable the development… Read More

March 24, 2020 @ 2:34 pm By Omar Faridi  |  

James Lloyd, associate partner at Big Four auditing firm Ernst and Young (EY) and Asia-Pacific Fintech leader, claims that financial technology growth and adoption is surging in the Asia-Pacific region. He notes: “[Fintech development in Asia is] driven by consumers’ desire for more attractive fees… Read More

March 20, 2020 @ 6:34 pm By Omar Faridi  |  

Singapore-headquartered digital asset exchange Phemex announced on March 17, 2020, that it will be offering a proprietary perpetual contract, which is reportedly pegged on gold and settled in nominal US dollars. According to a press release shared with Crowdfund Insider: “Each contract is worth 0.001… Read More

March 19, 2020 @ 10:41 pm By Omar Faridi  |  

Huobi, a crypto firm with offices in Singapore, Hong Kong, Korea, Japan, and the US, announced that its digital asset derivatives exchange platform, Huobi DM, will introduce a “partial liquidation” feature that will help limit significant losses resulting from trading during extremely volatile market conditions…. Read More

March 18, 2020 @ 9:54 am By Omar Faridi  |  

The government of Singapore has reportedly pledged $10.8 million towards a program dedicated to managing a legal technology (Legaltech) research program, which aims to digitize various laws, rules and agreements in the country. The grant was awarded to the Singapore Management University’s (SMU’s) School of… Read More

March 18, 2020 @ 7:56 am By Omar Faridi  |  

AMTD Digital, the digital finance division of AMTD Group, has revealed that it will be acquiring a controlling stake in PolicyPal, a firm that’s licensed by the Monetary Authority of Singapore (MAS). PolicyPal is notably the first graduate of MAS’s Fintech regulatory sandbox program. The… Read More

March 16, 2020 @ 10:20 am By JD Alois  |  

Singapore based Zilliqa, a speedy blockchain platform, has partnered with Switcheo, to launch a “non-custodial, decentralised exchange” (DEX). Zilliqa and Switcheo are said to be working towards a minimum viable product and rounds of internal testing by the end of Q2 2020 and external user… Read More