Posts From Fintech News Singapore
MAS Grants In-Principle Approval to Payments Firm Tazapay
Cross-border payments firm Tazapay announced that it has secured an in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This will enable Tazapay to offer account issuance, merchant acquisition, cross border money transfer,
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McKinsey: Asia’s Booming Affluent Segments Introduce New Opportunities in Digital Wealth
In Asia, the wealth of affluent and mass-affluent customer segments is growing rapidly, bringing about new opportunities and growth prospects for banks and wealth managers alike in the region. But to tap into this opportunity, services providers will need to
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Singapore Hits Highest Fintech Funding in 3 Years, Crypto Snagged US$1.2 Billion
Fintech investments in Singapore witnessed a three-year-high of US$4.1 billion across 250 deals according to the KPMG Pulse of Fintech H2’22. 2022’s total deal value here saw a 22 percent increase, up from US$3.4 billion in 2021, and a 75
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DBS Digital Exchange Doubled Customer Base With 80% Surge in Bitcoin Trading
The DBS Digital Exchange (DDEx) reported that its Bitcoin (BTC) trading volume had grown by 80% in 2022 despite the ongoing crypto winter. DDEx had also doubled its customer base in 2022 with close to 1,200 participants registered on the
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India Bets on Digital Banking to Improve MSME Access to Finance
India, a world leader in digital payments and fintech innovation, is entering the next phase of its digital finance transformation, now eyeing the prospects of digital banking to address the credit gap faced by micro, small and medium-sized enterprises (MSMEs).
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Singapore’s FSI Sector Eyes Significant Investments in ESG, Embedded Finance and Defi
In Singapore, c-suite and senior finance executives are planning to invest significantly in embedded finance, environmental, social and governance (ESG) frameworks, and blockchain-related innovations in 2023, confident that these technologies will create new growth opportunities and provide them with an
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Wirex Partners Visa to Expand Crypto Card Offering to Over 40 Countries
Crypto payments platform Wirex has partnered with Visa to directly issue its crypto-enabled debit and prepaid cards to over 40 countries. Wirex will also become a member of Visa in APAC and the UK. The partnership will support further collaboration
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PhonePe Bags Another US$100M, Inching Closer to US$1B Fundraise Target
Indian digital payments company PhonePe has raised an additional US$100 million following the recent US$350 million financing round that closed on 19 January 2023. The latest raise from Ribbit Capital, Tiger Global and TVS Capital Funds places PhonePe’s pre-money valuation at US$12
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India’s InsuranceDekho Secures US$150 Million Series A
Indian insurtech firm InsuranceDekho has raised US$150 million in Series A funding round consisting of a mix of equity and debt. The round was led by Goldman Sachs Asset Management and TVS Capital Funds with participation from Investcorp, Avataar Ventures
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Trust in Singapore Banks Continues to Be on the Rise, Says ABS Survey
A survey conducted by Edelman Data and Intelligence has found that trust in the Singapore banking industry has increased for a second straight year since 2020. The third annual Banking Trust Index for Singapore (BTIS) survey was commissioned by the
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