Posts From Fintechnews Singapore

Binance to Set Up Industry Recovery Fund Following FTX’s Collapse, Says CZ

Cryptocurrency exchange giant Binance’s Chief Executive Officer Changpeng ‘CZ’ Zhao announced plans for an industry recovery fund amidst FTX’s staggering collapse in recent weeks. CZ also called upon other like-minded industry players with resources to co-invest in the fund to

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3 Ways Machine Learning Can Enhance Your Lending Process

A vast majority of the populations in the emerging markets of Southeast Asia, Latin America, and India are at the cusp of financial inclusion, thanks to the growing availability and adoption of digital lending services. The fintech-as-a-service market is predicted

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R3 Teams up With ADB to Explore Use of Blockchain in Sustainability, Digital Assets

Global enterprise software firm R3 has partnered with the Asian Development Bank (ADB) to explore the use of distributed ledger technology (DLT) in driving digital transformation. The partnership involves a proof-of-concept (POC) project aimed at establishing a cross-border multi-currency securities

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HSBC Deepens Investment in Asia With New Singapore Head Office

HSBC announced the official opening of its new head office at Marina Bay Financial Centre Tower 2 (MBFC) as part of its long term commitment to Singapore. The new head office includes over 140,000 sq ft of space over the

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ADDX Extends Pre-series B Round With US$20 Million Raise Led by Korea’s KB Securities

Global private market exchange ADDX announced that it has raised approximately US$20 million in an upsized Pre-Series B round led by KB Securities, a subsidiary of Korea’s KB Financial Group (KBFG). The round kicked off in May 2022 when ADDX

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Five ASEAN Central Banks Sign MoU for Regional Payment Connectivity

Five central banks in ASEAN announced that they have inked a Memorandum of Understanding (MOU) to collaborate on regional payment connectivity to support faster, cheaper, more transparent, and more inclusive cross-border payments. Signed at the G20 Leaders’ Summit, the central

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New York Fed Reserve Partners With MAS to Explore Wholesale CBDCs

The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) announced a joint experiment to investigate how wholesale central bank digital currencies (wCBDCs) could improve the efficiency of cross-border wholesale payments

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Singapore Fintech Festival 2022 Saw Its Largest Turnout With Over 62,000 Participants

The Singapore Fintech Festival (SFF) this year brought together more than 62,000 participants from over 115 countries, emerging as its largest gathering to date since the inaugural edition in 2016. SFF 2022 featured more than 850 speakers from private and

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Mastercard’s Study Shows That Buy Now, Pay Later Is Rising in Popularity in APAC

Buy now, pay later (BNPL) options are rising in popularity in Asia-Pacific (APAC) where consumers are increasingly turning to these payment arrangements to pay for bigger-ticket items like electronics and appliances, findings from a Mastercard study show. A survey conducted

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FlexM Awarded as the Best Asean Fintech By MAS at the Singapore Fintech Awards 2022

“Embracing Digital, Charting the New Normal”, the theme for the Singapore Fintech Festival (SFF) Global FinTech Awards 2022, was set keeping in mind the rampant age of digitalisation that is taking over the financial industry. The Global FinTech Hackcelerator and

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