Author: Fintech News Singapore

Sumsub has rolled out its Travel Rule solution at Bitazza Thailand ahead of new regulatory requirements expected later this year. Thailand’s Securities and Exchange Commission (SEC) is preparing to require digital asset businesses to collect and securely exchange specific information on qualifying digital asset transfers. The rule follows recommendations from the Financial Action Task Force and aims to strengthen safeguards against money laundering and terrorist financing. Bitazza Thailand is a digital asset broker licensed by Thailand’s Ministry of Finance and regulated by the SEC. The company began working with Sumsub in 2025 on customer verification, anti-money laundering controls and risk…

Etiqa Insurance Singapore has appointed Claudia Soh as its Chief Executive Officer following a period in which she served as Acting CEO. Soh joined Etiqa as Chief Financial Officer in April 2022. She previously served as Chief Risk Officer at AXA Singapore and held several senior roles at Great Eastern, including Chief Internal Auditor and Head of Group Strategies. Earlier in her career, she worked in banking supervision at the Monetary Authority of Singapore and as an auditor at PricewaterhouseCoopers. Etiqa said Soh will focus on customer outcomes, partnerships and the long-term resilience of its Singapore business. Featured…

Syfe has launched Cash+ Enhanced with a projected net yield of up to 3.0% per annum. The Singapore dollar product invests in a diversified portfolio of short-duration bond funds. It has no lock-in period or minimum deposit and will be available to all Syfe users from 18 August 2026. Syfe designed the product for funds that investors do not expect to need for the next one or two years. A Syfe survey found that 86% of respondents were dissatisfied with the yields and features of their existing cash management solutions or open to an alternative. No lock-in period was a…

Databricks has raised US$5 billion at a US$190 billion valuation after its revenue run rate topped US$7 billion. Coatue led the strategic funding round, joined by Blackstone, MGX, T. Rowe Price and new investor Sixth Street Growth. Other new investors included BOND, Clearlake Capital, Point72, Premji Invest and TPG, alongside existing backers such as GIC, Temasek, Andreessen Horowitz and Franklin Templeton. Databricks reported more than 80% year-on-year growth in its second quarter and remained adjusted free cash flow positive over the past 12 months. Co-founder and CEO Ali Ghodsi said, “Enterprises don’t just want AI that talks. They want agents…

Oracle could cut more jobs this month as it balances rapid cloud growth with heavy infrastructure spending, according to Business Insider. Some parts of the business could face sizeable cuts, with the process reportedly targeted for completion before 1 September. Managers have also reportedly been asked to identify employees who could be affected. Oracle declined to comment. The potential cuts come as the company ramps up spending on cloud and AI infrastructure. Revenue rose 17% to US$67.4 billion in fiscal 2026, while cloud infrastructure revenue jumped 77% to US$18.1 billion. Oracle also reported negative free cash flow of US$23.7 billion…

Coinbase has secured regulatory approval to establish an international tokenisation hub in Abu Dhabi. The company received a Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market. The approval allows it to arrange investment deals and provide custody services for tokenised securities. Coinbase said securities issued and registered in ADGM will be fully backed by underlying shares and overseen by the FSRA. Vested holders may exercise shareholder rights including voting, while dividends will be automatically reinvested for holders. Redemption rights remain subject to conditions in the relevant prospectus and may require a brokerage or…

Trust Bank has launched the Freedom Card, which it describes as Singapore’s first credit card to offer stockback rewards. The card allows customers to turn rewards earned from everyday spending into fractional investments in selected US stocks and exchange-traded funds. Stockback starts investing once rewards reach S$10 For every dollar spent, customers earn a stockback value. Once the accumulated amount reaches S$10, it is automatically invested in a US stock or ETF chosen by the customer from a list of 50 eligible investments. Customers can change their selected investment before the next transaction. Until 31 December 2026, Trust is offering…

ShopeePay users in Singapore can now use the e-wallet to pay for apps, games and other digital content on Google Play. Android users can link ShopeePay to Google Play and pay with their wallet balance, SPayLater or linked credit and debit cards. The integration also extends to subscription payments on Google Play. The Google Play integration covers eligible purchases and subscriptions for apps such as ChatGPT, Spotify, Canva, Tinder, LinkedIn, Duolingo and Gemini. “Digital services are deeply embedded in Singaporeans’ daily lives, whether for entertainment, productivity, or everyday utility. As spending on digital platforms becomes more common, consumers increasingly expect…

Yuno has raised a US$45 million Series B round led by Global PayTech Ventures, with participation from Andreessen Horowitz, Tiger Global, QuantumLight Capital, Monashees, Kaszek, and regional investors Rasmal Ventures, Further Ventures, and GrowthX Capital. The Colombia-founded payments infrastructure company said the funding will accelerate its path to profitability and fund continued product expansion, including agentic commerce and its banking-sector business. Yuno connects businesses to more than 1,000 payment methods and 460+ integrations across over 190 countries through a single API, with built-in intelligent routing, one-click checkout, and AI-powered fraud detection. Over the past year, the company said it recovered…

Crypto exchanges in Singapore will have to collect more customer tax information from 2027. The rules are part of Singapore’s rollout of the Crypto-Asset Reporting Framework, or CARF. The framework was developed by the Organisation for Economic Co-operation and Development to support the exchange of crypto tax information between jurisdictions. Crypto firms covered by the rules will have to determine their users’ tax residency. For some business customers, they will also need to identify the people who ultimately control the entity. What Crypto Firms Must Report Firms will have to report customer and transaction information for reportable users to the…

BRICS is examining ways to make cross-border payments cheaper through closer links between fast payment systems and central bank digital currencies (CBDCs). Reserve Bank of India Governor Sanjay Malhotra said the proposals remain under discussion, according to Reuters. Possible approaches include greater interoperability between members’ instant payment networks and connections between their respective CBDCs. The discussions follow an earlier RBI push to put CBDC connectivity on the BRICS agenda. Reuters reported in January that the RBI had asked the Indian government to include a proposal for connecting member countries’ CBDCs at the 2026 summit, with trade and tourism payments among…

Thredd is supporting Cashi’s stablecoin spending card rollout in Hong Kong with Mexico next on its expansion plans. Thredd will provide the issuer processing infrastructure for the programme. The Cashi app lets users hold and send digital assets, while its card can be used for everyday purchases. The Hong Kong programme is now live with virtual Visa cards and Google Pay support. Cashi plans to enter Mexico by the end of 2026, adding physical cards and Apple Pay alongside its virtual offering. Further market expansion is also planned. “Launching a programme across markets as distinct as Hong Kong and Mexico…

Revolut customers in Singapore can now get up to 12 months of ChatGPT Go at no extra cost. The fintech has partnered with OpenAI and foodpanda to extend perks across its Standard, Premium and Metal plans. Metal customers will receive 12 months of ChatGPT Go, Premium customers six months and Standard customers three months. ChatGPT Go offers higher usage limits for messaging, file uploads, image generation and memory than the free version of ChatGPT. Premium and Metal customers will also receive complimentary access to foodpanda’s pandapro subscription. Pandapro includes free delivery on eligible food and grocery orders subject to minimum…

Anthropic has tapped Macquarie Asset Management and GIC to develop data center infrastructure as demand for Claude grows. The partnership will establish Theseus Infrastructure, a new platform that will develop, operate and lease purpose-built data centers to Anthropic under long-term agreements. The partners will initially focus on developing new sites in the United States, with Anthropic serving as the anchor tenant. Funds managed by Macquarie Asset Management will own the platform alongside GIC, with the two providing the majority of the equity for each project. The planned developments will require significant capital investment and are expected to create thousands of…

OCBC has added platinum and palladium trading to its mobile app as it expands access to precious metals for retail investors. Customers can invest in either metal from 0.01 ounces. Based on prices on 7 August 2026, this was about S$23 for platinum and S$18 for palladium. The new options build on OCBC’s existing digital gold and silver offering, which has been available to retail customers since October 2021. Platinum is widely used in automotive manufacturing, hydrogen fuel cells and other industrial applications, while palladium is used in vehicle emissions-control systems. Their prices can therefore move differently from gold and…

India is revising its digital payments rules to let the government decide which electronic payment methods are protected from charges. The Taxation and Other Laws (Amendment) Bill, 2026 would change how those protections are set. Banks and payment providers would remain barred from directly or indirectly charging people who make or receive payments through digital payment methods covered by the government. The current system links that protection to payment methods prescribed under the Income-tax Act, which has supported the zero-charge treatment of BHIM-UPI and RuPay debit card transactions. Under the bill, the central government would instead specify which payment methods…

ShopBack is extending its Visa tie-up in Singapore to in-store payments through ShopBack Pay. Consumers can earn rewards when paying with eligible Visa cards at participating physical merchants, adding an in-store option to ShopBack’s existing online card-linked rewards. ShopBack Pay’s network spans more than 20,000 physical outlets in Singapore and recorded over 16 million in-store transactions in 2025. The partnership covers categories including food and beverage, travel and marketplaces. The expansion follows ShopBack receiving a Major Payment Institution licence from the Monetary Authority of Singapore. Julian Foo, General Manager of Financial Services, ShopBack, said, “Deepening our partnership with Visa marks…

Singapore will push ahead with artificial intelligence (AI) adoption while investing in worker training to help people adjust to changes in the workplace. Prime Minister Lawrence Wong outlined the government’s approach to AI in his National Day Message. “AI is already transforming industries and changing the way we work. But it is also causing anxiety among many workers who worry about how it will affect their livelihoods. Here in Singapore, we will make full use of AI to raise productivity and create better jobs. At the same time, we will invest in skills and training, so that every worker can…

Banking is experiencing its most disruptive decade yet, and it is becoming increasingly hard to cut through the noise given the rapid pace of change we are seeing. So what would it take for Malaysian banks to win in the next decade? Recorded in Kuala Lumpur and hosted with OneConnect, the technology arm of Ping An, this roundtable brings together senior leaders from Maybank, CIMB, RHB, Hong Leong Bank, GX Bank, Boost Bank and KAF Digital Bank. Topics include: The growing allergy to innovation theatre in banking Malaysia’s open finance pilot Trust in agentic commerce The role of banks in…

Roojai plans to move beyond its motor insurance base by adding more health products and expanding across the region, according to the Bangkok Post. The digital insurer is aiming for a 6% share of Thailand’s motor insurance market by 2030 while building its presence in Indonesia. Roojai Insurance recorded 1.6 billion baht in gross written premiums and 212 million baht in net profit in the first half of 2026. Its loss ratio remained below 65% for a fifth consecutive year, while its capital adequacy ratio stood at 520%. At group level, gross written premiums reached 3.3 billion baht in 2025,…