Author: Fintech News Singapore

Singapore recorded a 579 percent rise in AML and CFT fines issued by the central bank last year. The sharp increase reflects a shift in regulatory scrutiny after a major money laundering scandal exposed weaknesses in parts of the financial system. New data from regtech firm Fenergo shows that global penalties for breaches of anti-money laundering, know your customer, sanctions and customer due diligence rules fell 18 percent in 2025 to US$3.8 billion. This compares with US$4.6 billion in 2024 and US$6.6 billion in 2023. Despite the overall decline, enforcement activity varied widely by region. North American regulators reduced the…

Thailand’s Securities and Exchange Commission (SEC) has filed criminal complaints against five individuals for allegedly running unlicensed Worldcoin trading services. The cases were lodged with the Economic Crime Suppression Division after the regulator found that the individuals engaged, or jointly engaged, in offering Worldcoin trades. The SEC said they also shared related information in Thai through social media and presented themselves as operating a digital asset dealing business outside digital asset exchanges. Those named are Sarida Jittaueafuea, Mongkol Chantarach, Piyamat Notee, Natcha Rungkassattra, formerly known as Thidarat Rungkassattra, and Taksaporn Kajornpap. The SEC said the conduct breaches Section 26 of…

Rokid is integrating payment features into its smart glasses through a partnership with Ant International, which will enable hands-free transactions at checkout. The company said the capability will be rolled out on Rokid Glasses and Rokid AI Glasses Style, which was unveiled at CES 2026. Payments will run on Alipay+ GlassPay, an embedded solution from Ant International that connects supported digital wallets through the Alipay+ platform. Users will be able to start and confirm purchases through the glasses using voice interaction, intent-based commands, camera-based code scanning and biometric authentication, without switching to a smartphone. The feature is aimed at in-store…

Google has launched a new open standard to support agent-led shopping across search and chat platforms as Ant International joins the initiative. The Universal Commerce Protocol is designed to let AI agents, retailers and commerce systems work together across the shopping journey. It aims to reduce the need for custom integrations across discovery, checkout and post-purchase support. It is compatible with existing standards including Agent2Agent, Agent Payments Protocol and Model Context Protocol. The protocol was developed with companies such as Shopify, Etsy, Wayfair, Target and Walmart, and has been endorsed by more than 20 others including Visa, Mastercard, Stripe, Adyen,…

Companies seeking a simultaneous listing on SGX and Nasdaq may soon face fewer regulatory hurdles under proposals that the Monetary Authority of Singapore (MAS) is consulting on. MAS has opened a public consultation on amendments to the Securities and Futures Act 2001 and related draft regulations. The changes are intended to support the upcoming Global Listing Board, announced in November to enable dual listings on SGX and Nasdaq for companies with a market capitalisation of S$2 billion and above. The proposals would allow issuers to use a single prospectus for offerings in Singapore and the United States by requiring the…

MariBank now offers physical gold investing from S$1 through its new Mari Invest Gold product. The service gives customers access to the LionGlobal Singapore Physical Gold Fund via a new unit class exclusive to MariBank users. According to MariBank, it is the first digital bank in Singapore to offer access to a physical gold fund. The product is offered through Class MariBank SGD Hedged (Acc) and is managed by Lion Global Investors. Standard Chartered Bank Singapore serves as the fund’s custodian and ensures the secure storage of the physical gold holdings. The fund invests in physical gold bars with a…

Though cash remains the dominant payment method for tourists in Thailand, cashless options are gaining traction due to their convenience, accessibility, and flexibility, according to a new paper by the Bank of Thailand (BOT) and Visa Thailand. Released in December 2025, the paper shares key insights into the payment trends of international tourists in Thailand. It highlights the growing adoption of cashless transactions, emphasizing the rapid rise of inbound cross-border QR payment. Cross-border QR payment, a relatively recent addition to Thailand’s payment landscape, was first introduced in 2018 through linkage with Japan before expanding to other countries across Asia-Pacific (APAC),…

Fireblocks has announced the acquisition of TRES Finance, a specialist in crypto accounting, reconciliation, and financial controls. The move aims to integrate financial intelligence directly into digital asset operations. “Over seven years ago, the digital asset industry’s biggest gap was security. Institutions wanted to move value safely, and we built infrastructure that solved that, with a platform proven to move trillions of dollars,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “The market has evolved, and businesses now need audit-ready, tax-compliant financial records as they expand onchain.” TRES has developed financial data infrastructure that transforms operational records into structured financial…

StraitsX announced the completion of Apple Pay In-App provisioning certification for Pionex Cards. The work was carried out as part of its partnership with Pionex. The certification allows Pionex users to add their cards to Apple Pay directly within the Pionex application. This enables access to contactless payments without requiring users to leave the app. By embedding in-app provisioning into the Pionex experience, users can move from card setup to usage in a single flow. The process operates within Apple Pay’s existing security and privacy framework. The certification reflects the integration between Pionex’s card programme and StraitsX’s card issuance infrastructure,…

Digital banking in Asia was supposed to change the world. Five years later, did it live up to the hype? In this in-depth retrospective, Vincent Fong (Chief Editor, Fintech News Network) sits down with David Becker (Managing Director, Head of APAC Sales, Mambu) to unpack the last five years of the digital banking boom. They discuss why the predicted “death of traditional banks” never happened, how incumbents managed to adapt so quickly, and why the real revolution is happening in rural financial inclusion rather than just glossy apps. From the technical challenges of cloud-native infrastructure to the “boring but important”…

Salesforce has appointed Paul Carvouni as Senior Vice President and General Manager for ASEAN. In this role, he will oversee the company’s growth strategy across the region, with responsibility for sales execution, operational performance, and regional leadership. His appointment comes as Salesforce continues to expand its presence in Southeast Asia. The company operates offices in Singapore, Thailand, and Indonesia, and opened a new office in the Philippines in October 2025. Salesforce has also introduced Agentforce Service and Employee Agent in several ASEAN languages to support local business needs. Salesforce has positioned AI as a major driver of economic growth in…

KAST, the global financial platform built on stablecoin infrastructure, has expanded its Global Payouts feature, allowing users to convert and spend stablecoins internationally. The update adds 11 new currencies for local payouts, enabling users to earn globally and send locally in a single platform. According to Financial IT, the newly supported currencies include GBP (UK), EUR (SEPA), CAD (Canada), as well as IDR (Indonesia), VND (Vietnam), PHP (Philippines), THB (Thailand), MYR (Malaysia), NGN (Nigeria) and TRY (Turkey). This follows the initial launch of Global Payouts earlier as KAST develops a stablecoin-powered neobank designed for everyday financial needs. Global Payouts allows…

Temenos, a global banking software provider, has entered into a strategic partnership with Myanmar Citizens Bank (MCB) to support the bank’s digital transformation. MCB will strengthen its core banking operations and payment platform through the collaboration, enhancing operational stability and supporting long-term growth. As part of the partnership, MCB will implement Temenos’ modern banking platform to enable fast, secure, and real-time payment processing across domestic and international networks. The initiative is part of MCB’s broader efforts to modernise its banking infrastructure and expand digital services in response to evolving market demands. The renewal of the partnership demonstrates both organisations’ commitment…

HashKey Capital has announced the first closing of its fourth fund, HashKey Fintech Multi-Strategy Fund IV (Fund IV), securing total commitments of US$250 million. The amount exceeds the firm’s initial expectations, with the final fund size targeted at US$500 million, subject to further closings. Fund IV is managed by HashKey Capital Investment, part of the wider HashKey Group. Its investor base includes institutional investors, family offices and high-net-worth individuals. HashKey Capital said the strong first close reflects continued institutional interest in blockchain-focused strategies despite ongoing market volatility. The firm noted that its first fund has achieved a distributed-to-paid-in (DPI) ratio…

Standard Chartered has introduced a tokenised deposits solution for SGD and USD in Singapore, first adopted by Ant International. The bank said the launch follows the completion of a pilot involving Singapore dollar liquidity transfers for Ant International and enables real-time treasury movements through Ant International’s blockchain-based Whale platform. The solution allows tokenised representations of bank deposits to be used while remaining linked to accounts held with Standard Chartered. The initiative builds on work carried out under the Guardian initiative convened by the Monetary Authority of Singapore to improve liquidity and efficiency in financial markets through asset tokenisation. Standard Chartered…

Bhutan has unveiled a national Bitcoin Development Pledge. It will allocate up to 10,000 bitcoin (BTC), valued at around US$860 million at current prices, to support the development of Gelephu Mindfulness City. The commitment frames bitcoin as a strategic national asset rather than a speculative holding. Authorities are exploring responsible approaches, such as collateralisation, treasury management strategies, or long-term holding, to fund development while preserving value, according to CoinDesk. Authorities expect to make final decisions on how the assets will be deployed in the coming months. Gelephu Mindfulness City operates as a special administrative region. It uses digital assets as…

Scam offenders in Singapore will face caning from 30 December 2025 as tougher criminal penalties take effect. The changes are part of the Criminal Law (Miscellaneous Amendments) Act 2025, passed by Parliament on 4 November 2025, which updates the Penal Code and related legislation. Under the amendments, offenders convicted of cheating under section 420 of the Penal Code, where the offence is committed mainly through remote communication, will face mandatory caning of at least six strokes, alongside imprisonment of up to 10 years and a possible fine. Courts may also impose discretionary caning of up to 24 strokes in serious…

Over the past decade, Bitcoin’s role has evolved from a speculative asset to a practical financial instrument that increasingly integrates into global commerce. Businesses worldwide are beginning to accept cryptocurrencies, and one of the most efficient tools to enable this transition is the BTC payment button — a simple yet transformative feature that allows customers to pay directly with Bitcoin in just a few clicks. For many merchants, this technology represents not only innovation but also a strategic move toward financial independence and global reach. Traditional payment systems rely heavily on intermediaries – banks, card networks, and processors – hat…

iProov, a provider of biometric identity verification solutions, announced that an attack scenario demonstrated by its in-house Red Team has been published by MITRE ATLAS, a global knowledge base for AI security, threat mitigation, robustness, and privacy. The case study confirms a high-risk vulnerability in remote identity verification processes, exposing users worldwide. iProov’s contribution includes a detailed procedure showing how face-swapped imagery injection attacks can bypass mobile Know Your Customer (KYC) systems. The study places iProov alongside contributions from organisations including Microsoft, NVIDIA, IBM, Intel, Cisco, Palo Alto Networks, Kaspersky, CrowdStrike, and Trend Micro, all working to inform the development…

For decades, the holy grail of financial technology was invisibility. The industry spent billions waging a war on friction, relentlessly shaving seconds off transaction times until payments became instant, seamless, and largely thoughtless. We succeeded. Today, money moves across borders and counters at the speed of a tap, often faster than we can second-guess the purchase. Nowhere is this acceleration more palpable than in Singapore, a market so saturated that the average consumer now juggles up to four credit cards. But this victory over friction has come with a hidden cost. As barriers to payment fell, vulnerabilities rose, creating an…