Author: Fintech News Singapore

When you walk through the bustling streets of Singapore – from hawker centers to tech startups in Tanjong Pagar – you’re witnessing the heartbeat of the nation’s economy. Behind every expansion, new fleet, and inventory buildup stands a critical enabler: access to capital. Small and Medium-sized Enterprises aren’t just participants in Singapore’s economy – they are the economy. These businesses account for 99.6% of all enterprises, employ nearly 70% of the workforce, and generate 47% of enterprise value-added, contributing over S$313 billion annually. Yet their success hinges on one question: can they get the funding they need, when they need…

dtcpay, a licensed Major Payment Institution (MPI), has partnered with WalletConnect to enable stablecoin payments across wallets, apps, and merchants. The partnership will simplify onchain transactions using USDC, USDT, and WUSD, offering secure, embedded checkout experiences for merchants and consumers while expanding access for enterprises, institutions, and retail users. The collaboration also aligns with dtcpay’s goal of bridging traditional payment systems with onchain finance. According to WalletConnect’s State of Onchain Payments 2025 report, stablecoins make up 72% of payments on its network, with USDC at 38% and USDT at 34%. While payments are emerging as a major use case for…

BBVA is bringing crypto trading to its retail customers across EMEA, becoming the first bank in the region to use SGX FX’s digital asset platform. SGX FX announced that BBVA has become its first banking client in EMEA to offer digital asset trading to retail customers. The integration allows BBVA clients to trade bitcoin and ether directly through the bank’s existing platforms, supported by SGX FX’s infrastructure. The setup enables around-the-clock digital asset trading using the same systems BBVA employs for its foreign exchange operations. SGX FX’s technology provides aggregation, pricing, distribution and risk management capabilities, ensuring a consistent and…

Digital asset infrastructure provider Cregis and identity verification platform Sumsub jointly hosted the “Web3 Finance: Powering the Future of Trust” summit on 1 October at MBFC Tower 2 in Singapore. The event brought together professionals from the banking, payments and crypto sectors for discussions on trust-building and compliance in the Web3 space. The summit opened with a joint presentation by Cregis Chief Operating Officer Jason Ma and Sumsub’s Ying Li, who introduced their companies and core solutions. Jason Ma explained that multi-party computation (MPC) technology helps reduce asset security risks through private key sharding management. He noted that Cregis currently…

Tech in Asia has released its selection of Southeast Asia’s top movers and shakers in artificial intelligence (AI), highlighting researchers, innovators, and policymakers shaping the region’s AI landscape. Among the 42 AI leaders recognized, 26 are founders or co-founders of startups based in Southeast Asia that serve local markets. These companies are pioneering advancements across diverse domains, including video generation, chatbots, and cybersecurity, and are driving innovation and real-world adoption of AI technologies. They represent organizations such as TopViewAI, Earlybird AI, and Menlo Research, and hail from Singapore, Indonesia, Vietnam, and other regional hubs. Together, they are propelling Southeast Asia…

Singapore’s major banks will automatically pause or block digital transfers that move more than half of an account’s balance within a day, introducing new safeguards to prevent scammers from emptying high-value accounts. The measure, taking effect on 15 October, applies to current and savings accounts, including joint accounts, with balances of at least S$50,000. It forms part of enhanced fraud surveillance by the Domestic Systemically Important Banks (D-SIBs), which include DBS, OCBC, UOB, Citibank, HSBC, Maybank and Standard Chartered. When banks detect that an account is being rapidly drained due to a potential scam, transactions may be held for a…

Obita, a Hong Kong-based enterprise-level cross-border payments and digital financial network, has signed a MoU with YY Group, a Singapore-headquartered global workforce solutions and integrated facility management (IFM) provider. Under the agreement, YY Group will integrate Obita’s stablecoin-based payment infrastructure into its workforce platforms and corporate operations, supporting receivables, payables and treasury management. Obita stated that its infrastructure is designed to streamline cross-border settlements while maintaining regulatory compliance and security. The platform includes enterprise-level controls such as role-based approvals and real-time transaction monitoring. Both companies said the collaboration aims to improve financial access for gig workers, particularly in emerging markets.…

NTT DATA, a global provider of digital business and technology services, has signed a Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to deliver AI-powered contact centre solutions built on Amazon Connect, AWS’s cloud-based platform. The partnership aims to support the adoption of AI-enabled customer experience (CX) solutions internationally. As part of the agreement, NTT DATA will introduce Managed Customer Experience (MCX) for Connect, a modular platform intended to accelerate CX transformation across different industries. The platform combines NTT DATA’s more than 30 years of expertise in customer engagement and managed services with the capabilities of Amazon Connect’s cloud-based…

Snowflake has announced Snowflake Cortex AI for Financial Services, a suite of AI capabilities and partnerships designed to help financial services firms integrate their data ecosystems and deploy AI models, applications, and agents with built-in security and compliance controls. The company also introduced a managed Model Context Protocol (MCP) Server, now in public preview, which allows organisations to securely use their proprietary and third-party data in Snowflake from partners such as FactSet, MSCI, Nasdaq eVestment, and The Associated Press. This MCP Server enables customers to link their data with applications and platforms including Anthropic, CrewAI, Cursor, Devin by Cognition, Salesforce’s…

Fraud is escalating worldwide—and APAC is at the epicenter. According to Sumsub’s 2024 Identity Fraud Report, identity fraud in the region surged 121% last year, with Singapore recording a dramatic 207% increase. Deepfakes are influencing elections, Card-Not-Present (CNP) scams remain rampant, and even dating platforms face sophisticated impersonations. Nearly half of global businesses and users were victims of identity fraud in 2024, with average losses of US$300,000 per incident. To meet this urgent challenge, Sumsub, a global verification leader, is holding the inaugural What The Fraud (WTF) Summit 2025, a two-day global gathering of fraud fighters and compliance leaders. The…

Singapore strengthened its standing as the world’s third largest foreign exchange centre, after the UK and the US, with daily trading volumes climbing to US$1.485 trillion in April 2025. Figures from the Bank for International Settlements’ (BIS) 2025 Triennial Central Bank Survey showed volumes rose 60 percent from April 2022, lifting Singapore’s global share to 11.8 percent from 9.5 percent. The survey covers both foreign exchange and over-the-counter derivatives. Growth was led by the US dollar, Japanese yen and euro, which recorded increases of 36 to 65 percent, while the Chinese renminbi and Australian dollar also saw gains. Spot, forward…

Mastercard is using its permissioned payments data to power a new global media network designed to deliver more precise advertising. The platform, called Mastercard Commerce Media, combines transaction insights with Mastercard’s network of advertisers, publishers and consumers. The company said it processed more than 160 billion transactions in 2024 and now works with 25,000 advertisers and 500 million enrolled consumers worldwide. Commerce Media runs across Mastercard’s own channels as well as through banks and publishing outlets. According to the company, advertisers have seen returns of up to 22 times on ad spend across categories such as retail, travel, dining, entertainment…

Banking Circle announced that it has appointed Kirit Bhatia as its new Chief Digital Assets Officer. Bhatia brings more than two decades of experience in financial services and technology. He previously held senior roles at Ripple, where he was Vice President of Business Development and led international expansion efforts, and at Sernova Financial, RBS and JPMorgan Chase. Banking Circle said his appointment will support its strategy as demand for digital assets, tokenisation and stablecoins continues to grow. The company plans to expand its digital asset capabilities, giving clients the ability to manage fiat and digital assets side by side. The…

UOB is rolling out an artificial intelligence (AI) training drive across the bank to prepare employees for a workplace transformed by digital disruption. The initiative aims to equip staff with technical skills and the confidence to adapt as AI reshapes jobs and business processes. All employees will receive training in generative AI and automation, while those in specialised roles will deepen their expertise in areas such as data science. The bank is also grooming innovation champions to encourage the use of new tools and drive operational improvements. The initiative builds on UOB’s Better U Pivot Programme, which helps staff reskill…

Triple-A is tightening security around stablecoin and fiat transactions by rolling out global payee verification with iPiD. The Singapore-based digital currency payment institution said the integration will help it comply with Europe’s upcoming Verification of Payee requirements while extending the same safeguards to transactions worldwide. The system verifies payee details across fiat and stablecoin on-ramp and off-ramp transfers, aiming to reduce fraud and the risk of failed or misdirected payments. “Stablecoins are reshaping global payments, and trust in the rails is essential. We chose iPiD because they offer the only global solution for payee verification in markets where it is…

Stripe is making it easier for companies to launch and manage stablecoins, cutting the process down to just a few lines of code with the launch of Open Issuance. The platform, powered by Bridge, the stablecoin infrastructure firm Stripe acquired earlier this year, allows businesses to issue and redeem their own tokens, set reserve mixes between cash and treasuries, and choose partners such as BlackRock, Fidelity Investments, and Superstate. Liquidity is supported by Lead Bank. CASH, an open-loop stablecoin by Phantom, is the first to launch on Open Issuance. Metamask’s mUSD and USDH, built by Native Markets for Hyperliquid, will…

Global payments firm Nium and Emirates NBD are stepping up their cross-border payments push in the MENAT region, widening access to real-time transfers in the UAE and preparing for a launch in Saudi Arabia. The partnership, first announced in 2024, has now been extended to Emirates Islamic Bank, broadening access to real-time payouts across the UAE. Emirates NBD also confirmed it is preparing to roll out the service in Saudi Arabia through Emirates NBD Bank KSA, subject to regulatory approval from the Saudi Central Bank (SAMA). The UAE remains one of the world’s largest remittance hubs, with outbound flows exceeding…

Backbase, a digital banking software provider, is ramping up its wealth management push with senior hires in the US, Asia and Europe to capture rising demand for digital transformation. Joseph Sullivan has joined as Senior Director of Strategic Accounts in the US, bringing more than two decades of experience in wealth management, private banking, capital markets and fintech. He previously held senior roles including Director of Capital Markets & Investor Solutions at BondLink, Director of Wealth Management & Private Banking at 42 North Private Bank, and Senior Director positions at FINTRX and Interactive Brokers. He began his career at J.P.…

DBS, UOB and OCBC lifted Singapore’s dividend payouts to US$8.2 billion in the first half of 2025, with the three banks driving a 13.1 per cent rise in distributions, according to Capital Group data cited by The Business Times. The increase was calculated after adjusting for currency effects and one-off payouts. DBS raised its routine quarterly dividends, while UOB and OCBC boosted overall growth with additional special dividends. DBS shareholders received S$0.75 per share each quarter in H1, made up of S$0.60 in ordinary dividends and S$0.15 in capital return dividends, compared with S$0.54 a year earlier. UOB paid S$0.85…

Ant International’s WorldFirst reported a 300% increase in transaction volumes in emerging markets during the first half of 2025, alongside expanded bank partnerships and new AI-powered tools. The update was shared at the company’s Financial Partners Day in London, which brought together more than 60 representatives from over 30 financial institutions. The company, which provides cross-border payment and treasury account services, said its banking network now includes eight global systemically important banks, among them J.P. Morgan, Standard Chartered, Barclays, HSBC and Citibank. In Europe, BNP Paribas is a key strategic partner, working with WorldFirst to deliver digital trade finance and…