Author: Fintech News Singapore

Sustainability data platform Gprnt has secured US$4.62 million in seed funding from Ant International and MUFG Bank. The funding will support the company’s efforts to strengthen its digital infrastructure, enhance AI capabilities, and accelerate the onboarding of partners across Singapore and the wider region. Both investors will integrate Gprnt into their ecosystems to support clients in ESG disclosures, supply chain sustainability, and access to green finance. Following the fundraise, Gprnt has launched what it describes as the world’s first nationwide utility for sustainability reporting. Developed as a digital platform under the Monetary Authority of Singapore (MAS) and part of the…

Trust Bank reported strong growth in 2024, narrowing its net loss as revenue surged and deposits and lending volumes more than doubled. The bank’s customer base reached 974,000 by the end of 2024 and crossed the one million mark in early 2025, making it the fourth largest retail bank in Singapore by customer numbers. According to the bank, over 70 percent of new customers were referred by existing users. Deposits rose to S$3.8 billion from S$1.9 billion the previous year, supported by increased usage of savings tools like gamified pots, more customers crediting their salaries to Trust accounts, and the…

Vietnam’s Prime Minister Pham Minh Chinh is urging for the development of bold and innovative policies to establish an international financial center in the country. This strategic initiative is aimed at attracting investment from key global markets, and will include building cutting-edge financial infrastructure, drawing international talent, and fostering financial innovation, according to state-led newspaper Viet Nam News. Presiding a meeting on May 10 with permanent government members and representatives from various ministries, sectors, and localities, PM Chinh stressed that the financial center should seek to lure resources for sustainable development, and serve the country’s rapid and sustainable development. It…

Connecting to the internet has become more commonplace than ever around the world, regardless of the country you are living in or visiting. With internet accessibility at an all-time high, more individuals from international countries than ever have discovered the benefits of using a VPN, or Virtual Private Network whenever online. For citizens of Singapore, privacy invasion and government overreach is anything but new or daunting. Unfortunately, residents of Singapore have become all too familiar with the government’s overreach in terms of privacy and human rights. If you are a resident and/or citizen of Singapore, learning about VPNs, the benefits…

Mobile wallets have become a large and well-established market throughout the Asia-Pacific (APAC) region, featuring over 60 active brands and platforms, alongside numerous bank-backed apps, according to a recent e-book by Thunes, a Singapore-based cross-border payment infrastructure provider. While each market in APAC has its own nuances and consumer preferences, the region as a whole exhibits several defining traits, including the dominance of homegrown wallet providers, strong government influence in shaping the digital payment landscape, and the widespread rise of super-apps that integrate financial services with broader digital experiences. Local champions lead In most of these markets, domestic mobile wallets…

Visa has launched a new initiative called Visa Commercial Integrated Partners to improve how fintechs and business application providers connect with the payment giant’s commercial platform. The program allows financial institutions to offer integrated payment services through advanced APIs without the need for lengthy technical development. By embedding Visa products directly into platforms such as enterprise resource planning, expense management, and vehicle apps, financial institutions can provide virtual card payments, enhanced transaction controls, and richer data services to their business customers. These integrations are pre-evaluated by Visa and made available to issuers through a central platform, helping accelerate time to…

Temenos has introduced a new AI-powered solution aimed at improving how banks detect and manage financial crime. Announced at the Temenos Community Forum in Madrid, the Temenos FCM AI Agent is now generally available. The software is designed to help financial institutions monitor and evaluate sanctions screening alerts more accurately by reducing false positives and speeding up investigations. Temenos says the solution uses artificial intelligence to assess transactions in real time and support compliance teams in identifying genuine risks more effectively. According to the company, initial deployments of the AI agent have shown false positive rates dropping to below 2%,…

Tan Su Shan, CEO of DBS Bank, has been ranked sixth on Fortune’s 2025 list of the 100 Most Powerful Women in Business. She is the only Singaporean to feature in the top 10 of this annual global ranking, which recognises women leaders for their influence, innovation, and impact across various industries. Tan assumed the role of CEO on 28 March 2025, becoming the first woman to lead Southeast Asia’s largest bank. Her appointment followed a 15-year tenure by Piyush Gupta and marked the first time DBS promoted an internal candidate to the top position. With over 35 years of…

World Assets, a subsidiary of the World Foundation, has raised US$135 million through the sale of WLD tokens to Andreessen Horowitz and Bain Capital Crypto, two of the project’s early backers. The sale was conducted at market prices and increases the circulating supply of WLD tokens. The funds will be used to expand the World network and meet growing demand for Orb-verified World IDs, particularly in the United States and other international markets. The project also aims to become one of the first self-sustaining protocols through the implementation of protocol fees. Additional participants in the previously disclosed funding round include…

Airwallex has raised US$300 million in a Series F funding round, pushing the fintech firm’s valuation to US$6.2 billion. The round includes US$150 million in secondary share sales and brings Airwallex’s total funding to over US$1.2 billion. Investors include Square Peg, DST Global, Lone Pine Capital, Blackbird, Airtree, Salesforce Ventures, and Visa Ventures, along with several Australian pension funds. The company plans to use the capital to expand into new markets and further develop its proprietary global financial infrastructure, which integrates directly with local clearing systems and card networks and is supported by an extensive licensing portfolio. This includes growth…

What started as a RM6,000 loan funded out of their own pockets has grown into over RM4 billion disbursed to more than 2,000 SMEs. Xing Xian shares the raw, behind-the-scenes story. From an impromptu pitch that caught Bank Negara Malaysia’s attention, to the early struggles, hard lessons, and the real mission behind CapBay. The accidental pitch that led to CapBay being founded How the founders used their own savings to fund their first borrower Why leaving their destiny at the hands of the banks nearly killed their momentum CapBay’s role in funding digital-first businesses across Southeast Asia

Fly Fairly has acquired LFG, a mobile-first travel discovery platform designed to help users explore and plan trips based on their interests. Financial terms of the deal were not disclosed. LFG was founded by Darryl Han, Foo Shi Hong, and Yu Ko, alumni of the NUS Overseas Colleges programme. As part of the acquisition, LFG’s technology and team will be integrated into Fly Fairly’s operations. Han and Foo will join the company’s leadership team with a focus on product, content, and strategy. Fly Fairly, launched in 2024 by former Agoda and Booking.com executive Alex Yardley, operates in more than ten…

Binance has filed a motion in U.S. Bankruptcy Court to dismiss a US$1.76 billion lawsuit brought by the FTX estate, arguing the claims are legally baseless and an attempt to shift blame for FTX’s collapse. In the filing submitted on 16 May 2025, three Binance entities—Binance Holdings Limited, Binance Holdings (IE) Limited, and Binance (Services) Holdings Limited—argue that the court lacks jurisdiction over them and that they were not involved in the transactions at the center of the lawsuit. FTX is seeking to recover cryptocurrency it used to repurchase equity from Binance and certain former executives in July 2021. The…

There has been a significant decline in consumer trust in the digital world, largely driven by the rise of AI-powered fraud and deepfakes, according to a recent study by Jumio. The 2025 Jumio Online Identity Study, which surveyed over 8,000 adult consumers across the U.S., the UK, Singapore, and Mexico, indicates growing unease about the authenticity of online content and personal security. Globally, 69% of respondents said AI-enabled fraud now poses a greater threat to personal safety than traditional identity theft. In Singapore, this concern is more acute—74% of local respondents said AI scams present a bigger risk, and 71%…

Thailand’s fintech industry has grown by a remarkable 82.47% over the past five years, driven by widespread adoption of digital financial services and continued momentum across the sector, according to new research by the Fintech News Network. The Fintech Thailand Map 2025, which features active fintech companies and brands in the country, reveals that Thailand is now home to 177 companies, up significantly from 97 in 2020. This represents an annual growth rate of 12.8%, underscoring the country’s rapidly evolving fintech landscape. Last updated: 7 January 2026 A Broader and More Mature Fintech Ecosystem The map shows that payments and…

Circle Internet Financial, the issuer of the USDC stablecoin, is exploring a potential sale to Coinbase or Ripple, sources told Fortune—a move that could shift the company away from its planned public listing. Although Circle filed for an IPO in April, four banking and private equity executives familiar with the matter said the company has since engaged in informal acquisition talks. It is reportedly seeking a valuation of at least US$5 billion, whether through a listing or a sale. Circle maintains that it is not for sale and remains focused on its long-term goals. However, the recent discussions suggest it…

Ant Group’s international division generated nearly US$3 billion in revenue for 2024, Bloomberg reported, as the fintech giant prepares to spin off the unit following a broader reorganisation of its business. Singapore-based Ant International also recorded two consecutive years of adjusted profit, according to people familiar with the matter. The company has not disclosed how it calculates adjusted EBITDA, a metric that typically excludes non-recurring or non-operating costs. The unit has become a central part of Ant’s strategy to drive overseas growth and invest in artificial intelligence, following regulatory pressure in China that derailed its plans for a record-setting IPO…

SCB 10X, the investment arm of SCBX Group, announced the appointment of Kaweewut Temphuwapat as its new Chief Executive Officer (CEO), effective 16 May 2025. In his new role as CEO, Kaweewut will guide SCB 10X as it continues to invest in technology and pursue innovation. SCB 10X currently manages assets exceeding $600 million globally. Kaweewut will also continue in his current position as Chief Innovation Officer of SCBX. The company anticipates that holding both roles will enhance the connection between SCBX’s innovation strategy and SCB 10X’s investment activities. Prior to this appointment, Kaweewut gained experience in innovation, new business…

StraitsX has launched its Singapore dollar-backed stablecoin, XSGD, on the XRP Ledger (XRPL), marking a new phase in its collaboration with Ripple to support real-time digital payments across Asia. The deployment brings XSGD to a blockchain designed for large-scale tokenisation, enabling real-time payments and programmable financial flows for developers, fintechs, and institutions. XSGD is a stablecoin regulated by the Monetary Authority of Singapore (MAS) and backed 1:1 by reserves held with DBS Bank and Standard Chartered. Ripple, a contributor to the XRP Ledger, is working with StraitsX to advance enterprise-grade infrastructure for cross-border value transfer. With Asia’s cross-border commerce projected…

Finastra, a global financial software provider, announced its agreement to sell its Treasury and Capital Markets (TCM) business unit to funds advised by Apax Partners LLP, a global private equity advisory firm. Financial terms of the deal were not disclosed. Upon completion of the transaction, the TCM division will be rebranded and operate as an independent company. The TCM business provides risk management, regulatory compliance, and capital markets operations software, including its Kondor, Summit, and Opics products, to over 340 financial institutions. Finastra stated that the sale aims to streamline its portfolio and generate capital for reinvestment in its core…