Author: Fintech News Singapore

Thailand’s SEC will require digital asset operators to share sender and recipient information for transfers from 27 February 2027. Under the Travel Rule, operators must establish procedures for managing risks associated with sending and receiving digital assets. They must collect information about customers and counterparties, conduct due diligence and verify the qualifications of counterparty service providers and any intermediary operators involved. Operators must also verify who owns or controls self-hosted wallets used to send or receive digital assets. Those initiating transfers must provide originator and beneficiary details to the service provider receiving the order. Information accompanying each transaction must be…

Sumsub has introduced a fraud prevention starter kit after complex attacks jumped 180%. The tool uses onboarding data to classify applicants as low, medium or high risk. Businesses can then approve, conduct further checks, review or block an application. Sumsub’s internal data showed that the global identity fraud rate fell from 2.6% to 2.2% over the past year. However, attacks combining multiple techniques in a single verification attempt increased by 180%. The system analyses signals including email and phone activity, IP and network data, device information, repeated identifiers, confirmed fraud reports and blocklists. It can also detect links between new…

ACI Worldwide has agreed to acquire Cranium Ventures for its card switching technology. Financial terms were not disclosed. Cranium Ventures developed SYNAP, a microservices-based card switching framework that operates across cloud, on-premises and hybrid environments. ACI will integrate the technology into ACI Connetic for Cards as part of its planned card switching capabilities. The company launched the platform in March 2026. Founded in the UK in 2018, Cranium Ventures has key operations in Singapore and Malaysia. The deal includes the company’s technology, intellectual property and commercial relationships. Co-founders Ashraf Dimitri and Tony Horrell will join ACI following the acquisition. “Card…

Singapore-based Laters.com has raised US$1.5 million in seed funding to expand its flight booking and payment platform. XBO Ventures, the investment arm of digital asset platform XBO.com, led the round. Angel investors from the payments, fintech and enterprise technology sectors also participated. Laters.com will use the funding to grow its core business, develop new products and enter new business areas. According to Laters.com, it has been profitable every month since February 2025. The platform offers flights from more than 650 airlines and supports over 100 payment methods. Most of its payment volume comes through non-card options, including around 40 instalment…

Singapore and Indonesia are deepening business cooperation to help SMEs use AI tools and reach regional markets. The Singapore Business Federation (SBF) and the Indonesian Chamber of Commerce and Industry (KADIN) reviewed the practical outcomes of a two-year MoU. The partnership focuses on digital enablement, policy engagement and capability building. It includes business forums, roundtables, workshops and business-matching activities, with a particular focus on supporting Indonesian SMEs. The partnership also includes the rollout of Trade AI Advisor Indonesia, a generative AI platform intended to help businesses navigate cross-border trade. Mark Lee, Chairman, Singapore Business Federation said,  “SBF is committed to translating high-level…

BitGo has opened a new office in Singapore after tripling its Asia Pacific client base over the past two years. The city-state serves as the digital asset infrastructure company’s regional hub. BitGo Singapore received a Major Payment Institution licence from the Monetary Authority of Singapore in August 2024, and its local headcount has since more than doubled. Its regional clients include regulated financial institutions, corporate customers, digital asset businesses, service providers and high-net-worth investors. The office also houses BitGo Prime’s largest trading desk. The unit provides digital asset trading and connects clients with liquidity providers while integrating these services with…

Cross-border payments are expected to reach US$290 trillion by 2030, but moving money across markets is still harder than it should be. Banks, wallets, cards, real-time payment systems, stablecoins and digital asset wallets are all growing. The challenge now is not adding more rails. It is making them work together across currencies, regulations and local payment networks. This webinar will bring together thought leaders to explore: How global payments are shifting from traditional rails to connected ecosystems Why more payment choice is creating new challenges around liquidity, compliance and customer access Where stablecoins and digital assets fit into real cross-border…

A group of 21 financial institutions plans to launch a US dollar stablecoin in the first half of 2027. The group includes Japan’s MUFG Bank, Sirius International Holding from the Middle East and Standard Bank from Africa. Its European members are Banco Santander, BBVA, Commerzbank, Crédit Agricole, Deutsche Bank, Lloyds Banking Group, Rabobank and UBS. The North American institutions are Bank of America, Capital One, Citi, Fidelity Investments, Goldman Sachs, PNC Financial Services, Scotiabank, TD Bank Group, Wells Fargo and WisdomTree. The institutions have committed to establishing a company in the second half of 2026, subject to closing conditions. Its…

Construction subcontractors and suppliers in Singapore can now access funds earlier through a financing solution from OCBC, Visa and Doxa. The solution is available through the Doxa Connex platform and targets businesses further down the construction supply chain, where payment cycles can last up to 100 days. Once a main contractor or developer approves a work claim digitally, eligible businesses can receive funds before the invoice due date. Linking financing to approved claims also maintains traceability and accountability throughout the process. Funds are disbursed via OCBC virtual purchasing cards. Recipients can transfer the proceeds to their bank accounts or pay…

Mambu has launched Intelligent Core, its technology architecture for bringing core banking, payments and agentic AI together on one open, composable platform. The launch combines Mambu Core and Mambu Payments with a new addition, Mambu Agentic, an intelligence layer that connects AI directly into the core. Mambu said most banks are still layering AI onto legacy core systems. These systems weren’t built for real-time intelligence or autonomous action, a gap Intelligent Core is designed to close. The company has spent 15 years helping financial institutions build and modernise deposits, lending and Islamic banking on its composable platform. Intelligent Core extends…

Unified Payments Interface (UPI) users in India may soon be able to give AI agents limited authority to complete payments on their behalf. Three sources told Reuters that the Unified Agent Protocol may be introduced at the Global Fintech Fest in Mumbai next week. The IMF ranks UPI as the world’s largest retail fast-payment system by transaction volume. The network processed 24.51 billion transactions valued at ₹29.82 trillion (US$314.21 billion) in August. Pine Labs has already introduced its own agentic payment system in India. Its P3P protocol allows an AI agent to complete UPI payments after a customer approves a…

KAST has introduced a business platform that uses stablecoins to settle cross-border transactions around the clock. KAST Business combines accounts, cards, international transfers, cashback and potential yields on eligible balances in one dashboard. The platform is available across more than 170 countries, although specific services vary by jurisdiction. Companies can manage fiat virtual accounts provided by regulated partners alongside supported digital assets including Bitcoin, Ether and Solana. They can also issue cards and make local payouts in supported markets. The platform includes tools for hiring and paying contractors across borders. KAST is also offering savings of up to 8% to…

Banks can now use Visa’s enhanced A2A Protect service to identify risky transfers before funds leave customer accounts. The update introduces a unified fraud score and marks Visa’s first in-market integration of Featurespace technology since acquiring the company. A2A Protect uses AI and transfer learning to analyse account-to-account transactions in real time. Banks can access global risk signals without waiting months for models to learn from their own transaction data or for other institutions to join a consortium. They can also opt into network-level intelligence sharing to uncover scam hotspots and coordinated fraud activity that may be difficult to identify…

Singapore is moving closer to regulating stablecoin issuers under a dedicated framework. The Monetary Authority of Singapore (MAS) is seeking feedback on changes to the Payment Services Act 2019. These would establish the requirements issuers must meet to qualify as MAS-regulated stablecoin issuers. Who Can Use the MAS Stablecoin Label Only issuers licensed under the regime could describe themselves as MAS-regulated stablecoin issuers or market their tokens as “MAS-regulated stablecoins”. The restriction is intended to help users distinguish these tokens from other cryptocurrencies marketed as stablecoins without equivalent safeguards to preserve their value. Non-MAS-regulated stablecoins would be treated as digital…

TMBThanachart Bank (ttb) and DBS Bank have partnered to expand wealth management services for retail investors in Thailand. Under the first phase, eligible clients of DBS Vickers Securities Thailand (DBSVT) will be invited to transfer their Thai baht-denominated holdings to ttb wealth securities, ttb’s wealth management subsidiary. These may include securities, derivatives, cash and other assets. The transfer requires client consent and is subject to applicable regulatory requirements. It is expected to be completed by May 2027. DBSVT will begin contacting eligible clients from 31 August 2026 with details of the transfer. Those who agree will retain uninterrupted access to…

The Monetary Authority of Singapore (MAS) will invest S$220 million over three years to advance fintech innovation and technology adoption. The funding will be provided through the fourth edition of the Financial Sector Technology and Innovation Scheme, known as FSTI 4.0. The scheme aims to anchor innovation activities in Singapore, encourage the use of frontier technologies and develop shared infrastructure and talent. Six Tracks Target Technology and Talent FSTI 4.0 comprises six tracks covering institutional projects, manpower, AI adoption, infrastructure, centres of excellence and industry awards. MAS will co-fund internship stipends and aims to support at least 1,000 opportunities over…

The Financial Stability Board (FSB) has identified cyber risk as the most immediate financial stability concern arising from frontier AI. In a letter to G20 finance ministers and central bank governors, Chair Andrew Bailey warned that increasingly capable models could change the speed, scale and economics of cyber threats. “For the financial system, the most immediate concern is the potential impact of frontier AI on cyber risk. Frontier AI may have the ability materially to alter the speed, scale and economics of cyber risk, which could undermine market confidence system-wide, especially due to highly concentrated third-party service providers,” Bailey wrote.…

The artificial intelligence (AI) economy in Vietnam is projected to reach between US$120 billion and 130 billion by 2040. This remarkable growth attributed to a significant boost in productivity and a surge in consumption-driven revenue, according a new report by the Vietnam National Innovation Centre (NIC), the Japan International Cooperation Agency (JICA), and Boston Consulting Group (BCG). By 2040, AI is poised to contribute up to US$130 billion to the domestic economy. This contribution will include a growth in consumption-driven revenue, which is set to generate US$45 billion to US$55 billion by then, fueled by increasing demand for AI-powered products…

The Bank for International Settlements (BIS) has backed tokenised deposits as a stronger foundation for future payments than stablecoins. BIS General Manager Pablo Hernández de Cos outlined the position at the Jackson Hole Economic Symposium on 28 August. Tokenised deposits could enable programmable payments while remaining connected to central bank money. This would help ensure they remain redeemable at face value. By contrast, Hernández de Cos said stablecoins “do not yet uphold the foundational properties of money”. Transfers between tokens such as USDT and USDC may require secondary market trades where prices can deviate from their intended value, particularly during…

Advent International and Stripe have reportedly ended their pursuit of PayPal after making an offer worth more than US$50 billion. Bloomberg reported the decision, citing unnamed people familiar with the matter. The bidders could still revive their interest at a later stage. Reuters reported in July that Stripe and Advent had offered US$60.50 per share, valuing PayPal at more than US$53 billion. The board reportedly considered the price inadequate while also weighing financing certainty, regulatory risks and the time required to complete a transaction. PayPal shares fell 12.7% following the latest report, closing at US$53.66 on 28 August. The acquisition…