Author: Fintech News Singapore

Ripple is expanding its payments platform with stablecoin capabilities as fintechs and banks look to improve cross-border liquidity and settlement. The updates strengthen Ripple Payments by allowing businesses to collect, hold, exchange and send funds using both fiat currencies and stablecoins through a single platform. The expansion follows Ripple’s acquisitions of custody provider Palisade and virtual accounts platform Rail, enabling businesses to create named virtual accounts and wallets to receive payments, convert funds and settle them into operational accounts. Ripple said the integrated setup is designed to simplify cross-border payments by reducing the need for multiple providers and fragmented systems.…

Adoption of artificial intelligence (AI) in Southeast Asia is showing stronger momentum than the global average. A new McKinsey study, which polled more than 2,000 respondents from companies worldwide, found that nearly half (46%) of Southeast Asian firms have moved beyond AI pilots, compared with 35% globally. According to the firm, this momentum stems from the region’s mobile-first consumer base, skilled talent, and local solution providers, which are creating fertile ground for rapid AI scaling. The study, conducted in collaboration with the Singapore Economic Development Board (EDB) and Tech in Asia, also revealed that 8% of Southeast Asian companies have…

Visa and Bridge are expanding their partnership to scale stablecoin-linked cards to more than 100 countries across Europe, Asia Pacific, Africa and the Middle East by the end of the year. The cards are currently live in 18 countries. The companies first unveiled the global card issuance product in 2025. Bridge, a stablecoin infrastructure platform owned by Stripe, enables businesses and fintech developers to issue Visa cards that allow users to spend stablecoin balances at more than 175 million merchant locations worldwide. Businesses can also launch their own stablecoins that integrate with these card programs. Crypto platforms including Phantom and…

SoFi and Mastercard have partnered to explore using SoFiUSD to settle transactions across the company’s global payments network. The companies will examine how card issuers and acquirers could settle card transactions using SoFiUSD, SoFi’s fully reserved U.S. dollar stablecoin, enabling faster settlement for use cases such as cross-border remittances and business-to-business payments. SoFiUSD is issued by SoFi Bank, N.A., a nationally chartered and insured deposit bank in the United States. The stablecoin is backed one-to-one by cash and issued on a public blockchain with immediate redemption capability. The token is also expected to be supported on Mastercard’s Multi-Token Network, a…

DBS China can now act as lead underwriter for non-financial corporate bonds in the China Interbank Bond Market after receiving a principal underwriting licence. The licence, granted by the National Association of Financial Market Institutional Investors, allows DBS China to manage underwriting syndicates for non-financial corporate bond issuances in the interbank market. With this and its existing mandates, DBS said it is now the only Singapore-headquartered bank licensed to play a leading role across all onshore corporate bond issuances in the China Interbank Bond Market. Data from Wind Information shows Panda bond issuances in the interbank market grew at a…

Singapore residents will soon be able to receive recycling refunds directly through DBS PayLah! starting 1 April 2026. This allows consumers to receive a 10-cent refund for each eligible beverage container returned at Return Right Reverse Vending Machines across the island. The initiative is a collaboration between DBS and Beverage Container Return Scheme Ltd. to provide a digital refund option within the national recycling scheme. To claim a refund, users select DBS PayLah! on the machine and scan the personal QR code generated under the “My QR” section in the app. The refund is credited to the wallet, with a…

Over the past two years, the buy now, pay later (BNPL) market in India has gone from being a fast-growing fintech trend to a more structured and regulated part of the financial system. When BNPL first boomed, many fintech platforms and digital players leveraged it to allow consumers to make a purchase instantly and defer payment for a short period, often without interest if repaid on time. This helped bridge the financing gap for users who lacked traditional credit cards, and was embedded in e-commerce and mobile app checkouts as a convenient credit alternative to boost sales and conversion rates.…

Dyna.Ai has raised an undisclosed eight-figure Series A funding round to scale its agentic AI deployments in regulated industries, including banking. The round was led by Lion X Ventures, a Singapore venture capital fund advised by OCBC Bank’s Mezzanine Capital Unit. Other investors include Taiwan-listed technology company ADATA, a Korean financial institution and several finance industry veterans. Dyna.Ai said the funding will support the expansion of its agent-based systems, which are designed to help organisations move from proof-of-concept initiatives to production use. The technology enables enterprises to automate defined tasks within structured workflows while operating within compliance and governance requirements,…

Consumers in select overseas markets will soon be able to spend stablecoins through a Pine Labs prepaid card, with launches scheduled by the end of April. The company’s CEO Amrish Rau shared the plans with Reuters. The Temasek and Peak XV-backed fintech is preparing the rollout in nine countries across the Middle East, Africa and Southeast Asia. Pine Labs will not introduce the product in India or China, where digital asset regulation remains restrictive. China has tightened oversight of virtual currencies and moved against unauthorised offshore issuance of yuan-linked stablecoins. India does not prohibit stablecoins, but the Reserve Bank of…

SEON has released the second edition of its AI Reality Check: 2026 Fraud & AML Leaders Report. Based on a global survey of 1,010 fraud, risk, and compliance leaders across payments, fintech, financial services, retail, eCommerce, and gaming, the report highlights that while AI adoption is nearly universal, operational challenges are increasing. The survey found that 98% of organisations now integrate AI into daily fraud and AML workflows, with 95% confident it works, including 52% who are very confident. AI/ML for transaction monitoring was the most common use case, cited by 30% of respondents. Despite automation, organisations are expanding teams…

HSBC expanded its wealth footprint in Singapore with the launch of its fourth and largest wealth centre, according to The Business Times. The new facility at Singapore Land Tower underscores the bank’s shift towards affluent clients in a key Asian wealth hub. Located on the 33rd floor, the 7,884 square foot centre features 14 meeting rooms and a dedicated family room for private multi-generational wealth discussions. HSBC said the space is designed to support more personalised advisory services. The opening coincides with the planned closure of its Raffles Place retail branch, announced earlier this year as part of a pivot…

HSBC Singapore has announced two senior appointments aimed at strengthening its China corridor proposition, as it seeks to support Chinese businesses and entrepreneurs expanding into Singapore and across ASEAN. Singapore continues to serve as a strategic entry point into Southeast Asia and a hub for companies pursuing broader international expansion. The bank said the appointments reflect its focus on facilitating cross-border banking, trade and wealth needs linked to China-ASEAN flows. Wong Kee Joo, Chief Executive Officer of HSBC Singapore, said: “As the region’s leading trade and business hub, Singapore is uniquely positioned to support Chinese companies as they expand into…

Singapore has emerged as a prominent fintech hub in Southeast Asia, capitalizing on its effective regulatory framework, robust infrastructure, and its large pool of highly skilled and experienced finance professionals. In 2025, Singapore maintained its position as the region’s top recipient of fintech funding, securing over US$725 million in the first nine months of the year, and accounting for 87% of ASEAN’s total funding. The country also represented more than half of all deals, primarily driven by activity in blockchain for financial services and investment technology. As this landscape continues to expand and evolve, Singapore remains a significant hub for…

Mastercard has appointed Minsook Cho as Country Manager for Singapore, where she will oversee the company’s strategy and operations. She will also work with regional and global clients headquartered in Singapore on cross-market initiatives. In the role, Cho will support Singapore’s digital payments agenda, collaborating with public and private sector stakeholders on payments infrastructure and related initiatives. Cho has more than 20 years of experience in payments, fintech, analytics and consulting. She joined Mastercard in 2013 and most recently served as Senior Vice President, Advisors Client Services, Asia Pacific. In that position, she led consulting, analytics, test-and-learn and managed services…

Financial crime in Singapore has escalated to unprecedented levels, with scams costing more than S$3.4 billion since 2019, according to the Straits Times. To help organizations tackle this challenge, Salesforce’s Agentforce offers AI-driven capabilities to automate customer anti-money laundering and combating the financing of Terrorism (AML/CFT) obligations, enhance client risk profiling, and streamline regulatory filings, according a joint paper by Salesforce and PwC. The paper explores the changing financial crime landscape in Singapore and looks at Saleforce’s Agentforce solution, showing how the platform can help Singaporean banks combat financial crime threats. Agentforce is Salesforce’s enterprise grade AI agent platform that…

The Singapore Tourism Board and Ant International have renewed their multi-year partnership to drive tourism growth through stronger digital connectivity. The collaboration will focus on driving visitor demand, enabling seamless and secure mobile discovery and payments through Alipay+, and supporting local businesses. It will also expand data sharing to generate actionable insights on traveller behaviour and strengthen the competitiveness of Singapore’s travel ecosystem, in line with STB’s Tourism 2040 roadmap. In 2025, transactions via Alipay+ in Singapore rose 36 percent year on year, placing the city-state among the platform’s top five global travel destinations. Spending through SGQR nearly tripled, benefiting…

TerraPay has partnered with Raenest to enable faster local currency payouts for freelancers in India and the Philippines. The integration supports Raenest’s expansion into both markets, allowing users to receive cross-border earnings more quickly in domestic currencies. TerraPay’s payments network will power international transfers for freelancers serving clients in the US, UK and Europe. India and the Philippines are among the largest freelance talent hubs globally. As more workers depend on overseas income, payment speed and reliability remain critical. Raenest said it serves more than one million customers and has processed over US$2 billion in transactions. The company, backed by…

Grab has set a US$1.5 billion EBITDA target for 2028, placing AI at the centre of its next growth phase, Reuters reported following an interview with President and COO Alex Hungate in Singapore. Hungate said the Nasdaq-listed group aims to grow revenue by more than 20 percent annually over the next three years. Grab operates in over 900 cities across Southeast Asia. The company is looking to lift margins by tightening execution across its core app while expanding financial services and online groceries. Management believes frequent usage across mobility and deliveries supports lower-cost cross-selling into adjacent products. Grab reported its…

The payment industry is undergoing a profound transformation, driven by growing demand for seamless, contactless, and autonomous experiences, alongside an accelerating rollout of artificial intelligence (AI) and machine learning (ML) throughout the payment value chain. In the Asia‑Pacific (APAC) region, consumer adoption of AI‑driven shopping tools is soaring, laying fertile ground for agentic payments that act on behalf of buyers. Yet, a new Visa survey reveals that lingering concerns about security and transparency are creating hesitation at the moment of checkout. The survey, which polled more than 14,700 consumers across 14 APAC markets in 2025, found that 74% of respondents…

ONERWAY’s Singapore entity has obtained a Major Payment Institution licence, expanding its regulated footprint in the city-state. The licence was granted to Overcross, the Singapore-incorporated operator of the ONERWAY payment platform, by the Monetary Authority of Singapore with effect from 1 March 2026. Under the approval, Overcross is authorised to provide regulated payment services in Singapore. These include merchant acquisition, domestic money transfer and cross-border money transfer services. The company is regulated under the Payment Services Act 2019. Overcross must comply with regulatory requirements including anti-money laundering and countering the financing of terrorism controls, safeguarding of customer funds and technology…