Author: Fintech News Singapore

dtcpay, a Singaporean digital payments company, has received approval for an Electronic Money Institution (EMI) license from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, effective 29 October. The license follows the Green Light Letter issued by the CSSF in July. The approval marks the activation of dtcpay’s European strategy, with Luxembourg serving as its continental headquarters and regulatory hub for the European Economic Area (EEA). The EMI license permits dtcpay to provide services across 30 EEA countries, covering over 450 million consumers and businesses. “This milestone represents a significant achievement for our team. We are highly appreciative…

StraitsX is expanding its stablecoin payment network across Asia, linking Singapore, Thailand, Taiwan and Japan through real-time cross-border settlement rails. In Thailand, StraitsX will partner with KASIKORNBANK (KBank) and Orbix Technology to enable real-time QR interoperability between Thailand’s national QR payment system and Singapore’s SGQR framework. The collaboration explores using the XSGD stablecoin as the settlement asset, allowing consumers to pay through familiar local apps while merchants receive settlement in their domestic currencies. Thai travellers in Singapore will soon be able to use KBank’s Q Wallet to pay at GrabPay and select PayNow-enabled merchants with Q-money. Payments will be settled…

Arta has expanded its SaaS platform, Arta AI, making its wealth management tools available globally for investors, advisors, and financial institutions. The platform, purpose-built with AI agents for wealth management, is now accessible at arta.ai. Bank of Singapore and Hong Leong Bank have adopted the technology, joining Ethivo Asset Management (HK), Wio Invest, and Income Insurance’s subsidiary. The Arta AI Sidekick provides each advisor with an AI agent that connects client portfolios, firm data, research, and product intelligence to surface insights and streamline workflows. It helps advisors make faster decisions, engage clients at scale, and focus on higher-value advisory work.…

Small and medium-sized enterprises (SMEs) in Singapore now have access to a smarter line of credit designed to adapt to their needs, providing financial flexibility to manage cash flow and capture rapid growth opportunities. Bizcap has launched its Line of Credit (LOC) Ultra globally, making the product available in every market where the lender provides funding. In Singapore, SMEs can access a line of credit up to SGD $300,000. LOC Ultra will empower businesses who need fast access to funds, with finance approved within 24 hours, and repayment rates from as low as 1.25% per week for the first four…

OCBC has appointed Melvyn Low as its Group Chief Strategy and Transformation Officer, according to The Business Times. Effective 10 November, he will shape the group’s long-term strategy and identify new growth opportunities. Low will continue to lead the global transaction banking division, which he has headed since 2018. Under his leadership, the business doubled its total income in five years and exceeded its Greater China target ahead of schedule, securing nearly 600 mandates by mid-2025. With more than three decades in banking, Low has held senior roles in cash management, trade, and securities services across regional and international institutions.…

Ripple has secured US$500 million from global investors at a US$40 billion valuation, marking a new milestone as the company expands further into payments, custody, and stablecoins. The funding, representing new common equity, was led by funds managed by affiliates of Fortress Investment Group and Citadel Securities, with participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. It follows Ripple’s US$1 billion tender offer at the same valuation after what it described as its strongest year to date. Ripple has repurchased more than 25% of its outstanding shares in recent years to provide liquidity for employees and early…

CrowdStrike has launched the third annual Cybersecurity Startup Accelerator with Amazon Web Services (AWS) and NVIDIA, expanding the program worldwide through NVIDIA’s Inception initiative. The accelerator supports early-stage companies developing AI-driven cloud security solutions through mentorship, technical guidance, funding, and go-to-market support. Applications are open until 15 November, with the eight-week program running from 5 January to 3 March 2026. It will conclude with a Demo Day at the AWS Startup Loft in San Francisco on 24 March 2026, during the RSA Conference. Outstanding participants may be considered for investment from the CrowdStrike Falcon Fund. Since its launch, the accelerator…

Singapore’s financial regulator says a person’s past record in drug rehabilitation won’t automatically affect their eligibility for roles in the financial sector. Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, who also chairs the Monetary Authority of Singapore (MAS), said in Parliament on 4 November that admission to a Drug Rehabilitation Centre does not automatically disqualify an individual from working in the industry. Gan was replying on behalf of the Prime Minister and Minister for Finance to a question from Associate Professor Jamus Jerome Lim, Member of Parliament for Sengkang GRC. The question asked whether an…

The Monetary Authority of Singapore (MAS) is reviewing new anti-scam safeguards introduced by banks to ensure they protect customers without unnecessarily slowing legitimate transactions. The question, raised by Aljunied GRC MP Sylvia Lim, asked whether MAS would ease safeguards in “whitelist” situations, such as transfers to a customer’s own account or to government agencies. In a written reply, Deputy Prime Minister and MAS Chairman Gan Kim Yong said the regulator has worked with banks to implement stronger protections, particularly for accounts with balances of at least S$50,000 that are being rapidly emptied. Under the measure, banks will delay further transfers…

Loyalty and travel rewards platform HeyMax has made its first international launch in Hong Kong, partnering with Cathay to connect more users and merchants across the region. The Singapore-based company said the move supports its goal of building Asia’s leading open loyalty ecosystem. The expansion follows its July acquisition of Hong Kong fintech firm krip and is part of plans to quadruple its team and strengthen regional partnerships. HeyMax reported fivefold year-on-year revenue growth and an annualised revenue run rate of US$6 million as of May. It aims to reach one million users and issue over two billion Max Miles…

Scammers and their local money mules could now face caning under new amendments passed by Singapore’s Parliament, part of efforts to curb online fraud and dismantle networks that enable transnational syndicates. The Criminal Law (Miscellaneous Amendments) Bill, passed on 4 November, introduces caning as a new penalty for scam-related offences. Courts may impose the punishment at their discretion to reflect each offender’s level of culpability, particularly among money mules. The maximum number of strokes prescribed under the new law is 12, which the Ministry of Home Affairs said was sufficient for now. Senior Minister of State for Home Affairs and…

Indian investment platform Groww raised ₹2,984.5 crore (≈US$336.7 million) from 102 anchor investors ahead of its IPO, The Economic Times reported. It issued 29.84 crore shares at ₹100 (≈US$1.13) each. About half the allocation went to domestic mutual funds through 17 fund houses, while global investors such as the Government of Singapore, Norway’s GPFG, ADIA, Goldman Sachs, Wellington, and Amundi also participated. Microsoft CEO Satya Nadella is among Groww’s notable backers, having invested in a personal capacity in 2022. The ₹6,632.3 crore (≈US$748.7 million) IPO includes a ₹1,060 crore (≈US$119.7 million) fresh issue and a ₹5,572.3 crore (≈US$629 million) offer…

Amazon Web Services (AWS) and OpenAI have entered a multi-year partnership to run and scale advanced artificial intelligence (AI) workloads on AWS infrastructure. The US$38 billion commitment gives OpenAI access to hundreds of thousands of NVIDIA GPUs, including Amazon EC2 UltraServers, with the ability to scale to tens of millions of CPUs. The collaboration will support the development of next-generation AI models and help millions of users continue to get value from ChatGPT. AWS said the partnership draws on its experience managing secure, large-scale AI systems. The infrastructure clusters NVIDIA GB200 and GB300 GPUs on Amazon EC2 UltraServers to deliver…

Singapore Gulf Bank has partnered with Fireblocks to secure its digital asset custody and treasury operations. The fully licensed digital wholesale bank, regulated by the Central Bank of Bahrain, will use Fireblocks’ enterprise platform for custody, settlement, trading operations, and stablecoin payments. The system automates treasury workflows, manages liquidity across multiple accounts and venues, and safeguards digital assets. SGB also plans to use Fireblocks for on- and off-ramps and stablecoin issuance. Founded by the privately held Singaporean investment firm Whampoa Group and backed by Bahrain’s sovereign wealth fund Mumtalakat, SGB serves global corporate and retail clients through unified banking solutions…

TymeBank has appointed Cheslyn Jacobs as its new Chief Executive Officer, effective 1 January 2026. Jacobs will succeed Karl Westvig, who has been part of the bank’s leadership since 2023 and will remain in an advisory role to support its continued growth. A founding member of TymeBank, Jacobs brings extensive institutional knowledge and leadership experience, having played a key role in the bank’s development since its inception. His appointment signals a new phase for the bank, focusing on innovation, customer experience, and sustainable expansion. “Cheslyn’s deep understanding of our customers, strategy, and people uniquely positions him to lead TymeBank into…

Ripple is expanding its institutional custody business with the acquisition of Palisade, a company that provides secure digital asset wallet infrastructure. Financial details of the deal were not disclosed. The acquisition strengthens Ripple’s custody offering for banks, fintechs, corporates, and crypto-native firms managing digital assets, stablecoins, and tokenised real-world assets. Palisade’s wallet-as-a-service model supports high-frequency transactions, payments, and multi-chain operations. Ripple said Palisade’s architecture combines governance and security features such as multi-party computation, zero-trust design, and DeFi integration. The technology will be built into Ripple Payments to support fast, secure transactions, including subscription payments and fund collections. Ripple Custody, already…

The Singapore Fintech Festival (SFF) is returning this year from November 12 to 14, to celebrate its 10th anniversary and a decade of growth and innovation in fintech. This year’s festival is expected to once again bring together thousands of global leaders in finance, technology, and policy to explore the future of finance, focusing particularly on the key themes of artificial intelligence (AI), tokenization, and quantum computing. Beyond the main conference, SFF 2025 will offer a rich lineup of networking sessions, masterclasses, and matchmaking opportunities. These events will provide participants with valuable avenues to connect, collaborate, and build partnerships. Investors…

KPay has partnered with Flagright to automate risk detection and enhance AML controls across its payments platform. The partnership will see KPay adopt Flagright’s AI-native, no-code compliance platform to monitor transactions in real time and use AI forensics to trace complex transaction trails. The move strengthens oversight across KPay’s pay-in and pay-out network. KPay provides payment services for merchants, including smart POS and QR payments, payment links, gateways, and business accounts for SMEs that support express settlements and cross-border transfers. The company’s business account also offers express T+0 settlement and streamlined supplier payments. “We were looking for speed, accuracy, and…

Global fintech firm Airwallex has achieved a major financial milestone, surpassing US$1 billion in annualised run rate (ARR) revenue in October. The company said it took nine years to reach its first US$500 million in ARR, while the next US$500 million was achieved in just over a year. Airwallex attributed the accelerated growth to rising adoption among businesses using multiple products, with about half of its customers now doing so, and the increasing number of “born-global” companies expanding across markets from day one. CEO Jack Zhang said the milestone is tangible proof that businesses are moving beyond outdated financial systems.…

Travellers from China can now pay Thai merchants directly using Alipay, UnionPay, or WeChat Pay, as Thailand rolls out its long-awaited cross-border QR payment linkage. The Bank of Thailand (BOT) said the initiative connects the retail payment systems of both countries to support trade, investment, and tourism. It allows Chinese visitors to use familiar mobile payment apps to scan Thai QR codes at local merchants, making transactions faster and more convenient. The linkage was developed through collaboration between the National ITMX (NITMX) and the three Chinese payment providers, with Bangkok Bank and Krungthai Bank serving as the Thai settlement banks…