Chambers and Partners, an independent research company delivering rankings and insights into providers of legal services, has released its selection of Singapore’s top fintech law firms and individual lawyers for 2022.
These law firms and professionals were selected based on several factors, including their technical legal ability, professional conduct, client service, commercial astuteness, diligence and commitment. Interviews with clients and individual lawyers were also conducted by a research team.
Two rankings were produced in the Fintech Legal 2022 list for Singapore: one ranking recognizing legal departments and one ranking recognizing individual lawyers. These entities and professions were ranked in bands from 1 being the highest to six being the lowest.
Ranked departments and notable practitioners
Band 1:
Allen & Gledhill
Allen & Gledhill has a broad fintech practice recognized for handling private equity and venture capital (VC) investments, digital payments mandates and digital currency matters. The firm is especially praised for its knowledge of fintech regulations, with prominent members of its team having previously worked at the Monetary Authority of Singapore (MAS).
Allen & Gledhill’s work highlights include advising on the setting up of various cryptocurrency exchanges as well as the requirements imposed on their customers.
Adrian Ang (ranked individual lawyer, band 1, Fintech Legal, Singapore) is co-head of Allen & Gledhill’s fintech practice. He formerly worked within MAS.
Baker McKenzie Wong & Leow
Baker McKenzie Wong & Leow is praised for its broad understanding of fintech verticals including virtual currencies, blockchain, payments and robo-advisory services.
The firm advises a broad range of companies from large global entities to Singaporean startups, and is known for its global reach.
Stephanie Magnus (ranked individual lawyer, band 1, Fintech Legal, Singapore) heads the firm’s financial services regulatory and fintech practice in Singapore. She has extensive regulatory expertise with regard to digital payments and sits on a number of regulatory panels.
Band 2:
Clifford Chance
Clifford Chance is recognized for its strong technical understanding on matters dealing with blockchain, initial coin offerings (ICOs) and regulatory licensing.
The firm is well known for its work with large entities, such as global banks launching their own fintech initiatives and venture funds looking to invest in the fintech space. Notably, it provided counsel to the banking consortium that established the Partior platform, a blockchain platform for payments, trade and foreign settlements.
Paul Landless (ranked individual lawyer, band 2, Fintech Legal, Singapore) leads the financial markets team in Singapore and Southeast Asia. He’s also the co-head of the firm’s global technology group, and advises on a wide range of matters in the fintech space including data privacy, smart contracts and blockchain.
Dentons Rodyk & Davidson
Dentons Rodyk & Davidson’s fintech practice handles a broad range of mandates including VC deals, payments and virtual currencies. The firm is well known as a leader in the cryptocurrency space, working with a number of companies on matters related to ICOs, crypto regulation and blockchain.
Dentons Rodyk & Davidson’s work highlights include acting as Singapore counsel to Persistence Holdings, a project seeking to develop an enterprise-grade blockchain protocol that is interoperable with fintech, decentralized finance and other use cases.
Kenneth Oh (ranked individual lawyer, band 2, Fintech Legal, Singapore) is a senior partner in the firm’s blockchain and distributed ledger technology (DLT) practice. He has an extensive background in corporate finance, M&A and capital markets.
Herbert Smith Freehills
Herbert Smith Freehills advises a range of clients, including local startups, large banks and global technology companies, handling cutting-edge matters including crypto-securities and artificial intelligence (AI)-enabled investment platforms.
Most notably, the firm acted as international counsel to Uber in its ride-hailing joint venture with South Korean wireless telecommunications operator SK Telecom, as well as payments processing and data transfer issues.
Mark Robinson (ranked individual lawyer, band 2, Fintech Legal, Singapore) heads Herbert Smith Freehills’ technology, media, and telecom (TMT) team in Asia. He spearheads the fintech practice and has worked with a number of prominent companies including Standard Chartered Bank and SoftBank.
Linklaters Singapore
Linklaters Singapore’ fintech practice in Singapore focuses on banking, digital payments, lending and crypto asset matters. It’s also involved in cutting-edge fintech mandates with a number of standard-setting organizations in the digital banking and crypto space.
In particular, the firm advised BondEvalue on the launch of an electronic platform facilitating fractional ownership of bonds.
Peiying Chua Heikes (ranked individual lawyer, band 2, Fintech Legal, Singapore) is a renowned financial regulatory lawyer with a keen focus on the fintech sector. Chua is a regular speaker at industry events such as the Singapore Fintech Festival and an active participant in industry discussions on fintech legislation, and lobbies authorities on key regulatory reforms.
Rajah & Tann Singapore
Rajah & Tann Singapore has a strong technology practice, notably through its legal tech subsidiary Rajah & Tann Technologies. The firm’s fintech team has worked on digital payments matters and with startups and investment funds on financing deals.
In particular, Rajah & Tann Singapore provided Singapore Telecommunications (Singtel) with multi-jurisdictional legal and regulatory analysis in Singapore, the Philippines, Thailand and Indonesia on a proposed cross-border payments system.
Regina Liew (ranked individual lawyer, band 2, Fintech Legal, Singapore) is the head of the financial institutions group at Rajah & Tann. She provides trusted advice on hybrid fintech products.
WongPartnership
WongPartnership has financial regulation and compliance expertise and a solid capital markets and technology practices. It is praised for its depth of understanding of the regulatory landscape, but also provides advice on digital payments, capital raising and e-commerce matters.
Notably, the firm acted as lead investor for cross-border VC firm Wavemaker Partners in the US$3.6 million pre-Series A investment round closed by Singapore blockchain development company Hashstacs.
Band 3:
Reed Smith
Reed Smith has strong expertise in financial regulatory and technology matters, and advises domestic and regional clients on commercial and complex regulatory matters. The firm is most notably active in the crypto sphere, but is also proficient in digital banking, payments regulation and data privacy issues. In particular, it acted for DBS Bank in its collaboration with Ant Group regarding the provision of blockchain-based trade finance services to buyers on Ant Group’s trading platform.
Hagen Rooke (ranked individual lawyer, band 2, Fintech Legal, Singapore) is an experienced financial regulatory lawyer with a key focus on cryptocurrencies and digital assets.
Simmons & Simmons JWS
Simmons & Simmons JWS has specialists in TMT, financial services and asset management. As well as its payments and digital banking practice, the team advises some of the best-known crypto platforms, including BitGo, a leader in institutional digital asset custody, trading and finance.
Grace Chong (ranked individual lawyer, band 2, Fintech Legal, Singapore) heads Simmons & Simmons JWS’ regulatory and fintech practice and has a sharp understanding of digital assets, information and communication technology (ICT) and environmental, social and corporate governance (ESG) regulatory matters.
Band 4:
Allen & Overy
Allen & Overy advises on fintech transactions in Singapore and across Asia. The team acts for investors and fintech startups, and has competencies in structuring new financial products and assisting with regulatory licensing applications, including in digital banking.
Notably, Allen & Overy advised Standard Chartered Bank on the merger of AssemblyPayments with CurrencyFair, a Dublin-headquartered foreign exchange payments platform.
DLA Piper Singapore
DLA Piper Singapore has a solid reputation in the market for fintech and blockchain, having assisted with VC financing and provided regulatory and corporate advice on digital assets.
In particular, DLA Piper Singapore advised Pine Labs in its acquisition of Fave, a leading Southeast Asian QR payments and loyalty startup that facilitates cashback rewards from restaurants and retailers.
Drew & Napier
Drew & Napier is known for its strong payments practice and expertise in cybersecurity, data protection and blockchain. The firm has advised a number of global digital payments providers and is a leading firm in handling cryptocurrency disputes.
Notably, Drew & Napier provided regulatory and legal support to US-headquartered Symbridge Holdings, a blockchain-based digital asset platform, on the proposed regional expansion of its trading services to customers in Singapore and Hong Kong.
OC Queen Street
OC Queen Street has solid expertise in digital payments, and acts for global tech and e-commerce companies. The firm also works with investment funds and companies on fundraising transactions in Singapore.
OC Queen Street’s work highlights include advising a fintech company on Banking Act matters and other issues relating to payments services in Singapore.
Koh Chia Ling (ranked individual lawyer, band 3, Fintech Legal, Singapore) is a director at the firm. He has robust experience in IT and intellectual property (IP) issues, and handles matters relating to digital innovation and investments.
Pinsent Masons MPillay
Pinsent Masons MPillay has expertise in payments and virtual credits, fintech fundraising and digital securities. The team acts for small and medium-sized enterprises (SMEs) and startups on a wide range of legal matters.
Notably, Pinsent Masons MPillay represented Razer on several business restructuring matters in relation to payments services, as well as its license application under the Payments Services Act in Singapore.
