The What the Fraud Summit 2025, taking place on November 19 and 20, at Andaz Singapore, will bring together leading professionals from the fintech, cryptocurrency, technology, and compliance sectors to explore evolving fraud trends, regulatory shifts, and future-proof strategies to protect businesses and consumers from cyberthreats and fraud. Hosted by identity verification specialist Sumsub, the inaugural event will welcome more than 500 industry leaders and practitioners for two days of focused discussions, hands-on workshops, and collaboration. It will address some of the toughest challenges in fraud prevention, AI security, regulatory shifts, and compliance, uniting regulators and industry to develop coordinated…
Author: Fintech News Singapore
Author
Read More
Coinbase has acquired Echo, a platform specialising in onchain capital raising, for about US$375 million in cash and stock. The move aims to make fundraising and investing more accessible to the crypto community while streamlining the process for new projects. Echo allows founders to raise capital directly from their communities through private sales or self-hosted public sales via its Sonar product. Founded by Cobie, a crypto OG and advocate for community-driven investing, the platform has facilitated over US$200 million across 300 deals and powered token launches such as Plasma’s XPL sale. Coinbase said the acquisition supports its goal of building…
Endowus has raised more than US$70 million in a round led by Illuminate Financial, coinciding with the firm surpassing US$10 billion in client assets across Singapore and Hong Kong. The funding, which includes a fresh raise and the conversion of existing notes, brings total capital raised to over US$130 million. Existing investors, including Prosus Ventures, Citi Ventures, and several Asian family offices, also took part. The company said the funds will go toward developing retirement and pension platforms, expanding its use of AI through WealthWise AI, and growing its B2B offerings for financial advisors and external asset managers. Endowus’ growth…
StraitsX has raised US$10 million from cross-border payments provider UQPAY to accelerate its Asia expansion and strengthen stablecoin-based payment connectivity. The investment, alongside continued support from Japan’s NTT DOCOMO, marks a new phase in scaling StraitsX’s regulated cross-border payment infrastructure. Part of Fazz Financial Group, StraitsX operates a stablecoin-native settlement layer bridging traditional finance and Web3. The new funding will help StraitsX expand its stablecoin-to-fiat capabilities, broaden cross-border use cases, and grow its enterprise and institutional network. The company said it aims to advance programmable, real-time settlement solutions as it evolves from a regional pioneer into a multi-market player in…
The Monetary Authority of Singapore (MAS) has announced 18 finalists for the 2025 Global Fintech Hackcelerator. This year’s competition focuses on the theme “AI for Financial Services”, reflecting efforts to explore how AI can address key challenges in the sector and deliver practical benefits to financial institutions and their clients. The finalists were selected for their innovative and market-ready AI solutions aimed at improving efficiency, decision-making, and accessibility within the financial ecosystem. They will participate in a four-day programme that includes mentorship, collaboration with industry professionals, and networking opportunities with corporates and investors to refine their proposals. These teams will…
Agentic AI is moving beyond simple chatbots to become an intelligent layer that can reason, act and deliver value across financial services. The global Agentic AI for financial services market is projected to surpass US$80 billion by 2034, showing how quickly this technology is transforming banks, fintechs and payment providers. In this session, we will discuss: How agentic AI is transforming financial services through new capabilities, live deployments and early results Homegrown e-wallet Boost’s AI journey from AI-based lending to the Boba chatbot and now agentic AI in financial services The business impact of agentic AI on customer experience, lead…
The Boards of Directors of Dubai’s Emirates NBD Bank (ENBD) and India’s RBL Bank have approved entering into definitive agreements for ENBD to acquire a controlling stake in RBL Bank through a primary capital infusion of approximately US$3 billion (around INR 26,850 crore). The proposed transaction represents the largest foreign direct investment in India’s financial services sector, the largest equity fundraise in the Indian banking industry, and the largest preferential issuance by a listed Indian company. It also marks the first acquisition of a majority interest in a profitable Indian bank by a foreign bank. ENBD’s investment will be made…
Small and medium-sized enterprises (SMEs) in Singapore can now access up to SGD300,000 in funding thanks to a flexible, fast-turnaround line of credit offered by Bizcap. The Business Line of Credit offers a funding solution tailored to the cash flow needs of local SMEs, and is designed to support businesses navigating seasonal fluctuations, cash flow gaps, or time-sensitive opportunities, with approvals in principle within the day. Unlike traditional bank products, Bizcap’s Line of Credit offers on-demand access to funds with flexible drawdowns, and repayments that align with a business’s cash flow. Interest is only charged on the amount used, and…
Bizcap and its US affiliate NewCo Capital Group have acquired 8fig, marking a significant step in the fintech firm’s global expansion and its focus on technology-led business funding. Founded in 2020, 8fig has provided more than US$500 million in funding to online sellers and developed its “AI CFO” tool to help small businesses plan, forecast, and scale. By joining Bizcap’s global ecosystem, which has operations in Singapore, 8fig will continue operating independently under its existing brand and leadership while gaining access to Bizcap’s capital resources, international reach, and operational expertise. Bizcap Global Co-Founder and Co-CEO Albert Gahfi said 8fig’s vision…
Digital payments are transforming the way small businesses operate, offering opportunities to reduce costs and expand globally. This guide explores how adopting cryptocurrency payment solutions can enhance transactions and improve customer experience. In today’s digital landscape, small businesses are increasingly adopting innovative payment solutions to stay competitive. The rise of digital payments has created a demand for flexible and efficient methods that cater to a global audience. By integrating cryptocurrency processor, businesses can utilize advanced technology for seamless transactions. As digital currencies become more popular, embracing these solutions is crucial for growth and sustainability in the modern market. How cryptocurrency payment…
The Monetary Authority of Singapore (MAS) has launched BLOOM (Borderless, Liquid, Open, Online, Multi-currency), a new initiative to expand settlement capabilities among financial institutions. BLOOM will work with the financial industry to facilitate settlement using tokenised bank liabilities and well-regulated stablecoins, while promoting standardised risk management practices in the digital settlement asset landscape. BLOOM builds on the foundation of Project Orchid, which examined potential use cases for a digital Singapore dollar and the necessary supporting infrastructure. Since its launch in 2021, Project Orchid has conducted over ten trials, resulting in several industry reports detailing real-world applications. Insights from these trials…
DBS has teamed up with Banque Saudi Fransi to deepen trade and payment connectivity across Asia and the Gulf Cooperation Council region. The partnership, signed on the sidelines of Sibos 2025 in Frankfurt, aims to promote trade and capital flows across the Asia–GCC corridor through enhanced trade settlement, financing and regional currency clearing. It supports businesses and consumers engaged in cross-border trade, investments and remittances. Trade between Southeast Asia and GCC nations reached about US$130 billion in 2023 and is expected to rise by another US$50 billion by 2027. Trade between China and GCC countries is projected to double to…
A former UOB staff member who fell for a scam disguised as an investigation by Chinese authorities has been convicted of leaking sensitive information from more than 1,000 customer accounts to fraudsters, The Straits Times reported. Court records showed that 30-year-old Chinese national Cao Wenqing, who was also a Singapore permanent resident, faced 27 charges under the Computer Misuse Act and the Banking Act. She worked as a junior officer in UOB’s mortgage department, where she was authorised to access the bank’s customer database for mortgage sales and servicing work. The database contained personal details including names, nationalities, addresses, identification…
Mastercard is rolling out two new products designed to make business-to-business (B2B) transactions simpler, more efficient, and easier to control, aiming to bring consumer-level ease to the corporate payment space. The company introduced the Commercial Connect API and a new clearing controls feature to address rising demand for modern, streamlined payment solutions. According to Mastercard, 69% of companies face challenges integrating payment and business systems, while 77% of CFOs plan to increase technology spending in 2025. Virtual cards, which help reduce fraud risk and improve cash flow, continue to drive interest in embedded payment tools. The Commercial Connect API offers…
Six of ASEAN’s key payment networks are taking a major step toward global interoperability with the signing of the George Town Accord, paving the way for standardised instant payments. The MoU brings together six national payment networks from five ASEAN countries to establish a global standards body for non-card instant retail payments. The accord marks a milestone in regional efforts to align technical and operational standards across borders. The signatories are Payments Network Malaysia (PayNet), Singapore’s Network for Electronic Transfers (NETS), Vietnam’s National Payment Corporation (NAPAS), the Philippines’ BancNet, and Indonesia’s PT Artajasa Pembayaran Elektronis and PT Rintis Sejahtera. Together,…
HSBC and Indian payments firm Juspay have entered into a strategic partnership to create a full-stack acquiring platform aimed at simplifying global payment operations for digital merchants. The platform will merge HSBC’s global reach with Juspay’s proven payments infrastructure capabilities. The solution is designed to unify the payment value chain, enabling HSBC to offer merchants a consolidated, end-to-end acquiring experience. Merchants using the platform will gain access to multiple payment methods through a single provider, enjoy improved transaction success rates, reduce cost complexity, and benefit from enhanced reliability. Built for speed, flexibility, and reliability, the platform offers end-to-end payment capabilities…
SHOPLINE’s subsidiary Instage Technology has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license. Once finalised, the license will allow the company to offer five regulated payment services, including account issuance, domestic and cross-border money transfers, merchant acquisition, and e-money issuance. The approval will enable SHOPLINE to provide merchants with end-to-end payment services, from KYC verification and transaction processing to fund settlement, without fully relying on third-party providers. The company said this will enable faster settlements, greater security, and multi-currency capabilities to support merchants’ cross-border growth. The move builds on SHOPLINE’s existing regulatory…
Singapore’s DBS has overtaken Malaysia’s PETRONAS to become ASEAN’s most valuable brand in 2025, according to the latest ASEAN 500 2025 report by Brand Finance. The study valued the region’s top 500 brands at US$306.6 billion this year, reflecting Southeast Asia’s growing financial and digital strength. DBS’ brand value rose 56% to US$17.2 billion, supported by higher net interest income, stronger card fee performance, and continued gains in wealth management and lending. The bank’s performance highlights the success of its regional digital strategy and sustained investment in technology-driven financial services. Indonesia’s Bank Central Asia (BCA) ranked among the region’s strongest…
Visa has introduced the Trusted Agent Protocol, a new framework designed to secure transactions as AI agents increasingly shop and pay on behalf of consumers. Developed with Cloudflare, the protocol establishes a foundational framework for agentic commerce by enabling secure communication between AI agents and merchants during every step of a transaction. It helps merchants verify legitimate agents and filter out malicious bots, addressing a growing challenge in AI-driven commerce. The launch comes as AI-driven traffic to U.S. retail websites has surged more than 4,700% over the past year. While most shoppers who use AI tools report better experiences, the…
Trust Bank is set to bring fractional trading to Singapore, letting customers buy and sell portions of US stocks and ETFs directly through its app. The new feature expands its TrustInvest service, which was introduced earlier this year to make investing more accessible. It will allow customers to trade US-listed equities and exchange-traded funds within the Trust App, offering a simpler way to build diversified portfolios without switching between multiple platforms. Trust said the addition of fractional trading will make it possible for customers to invest smaller amounts in higher-priced shares such as Netflix or Meta, which can cost more…