Ripple’s Chief Technology Officer David Schwartz will step back from his role at the end of the year after more than 13 years with the company. He will remain involved as CTO Emeritus and has accepted a seat on Ripple’s board of directors. Schwartz, one of the original architects of the XRP Ledger, announced his decision in a post on X. He reflected on his career spanning four decades, from consulting for the U.S. National Security Agency to watching the rise of Bitcoin, before co-developing the XRP Ledger with Arthur Britto, Jed McCaleb and Chris Larsen. He said he intends…
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Payments firm Nuvei is turning to AI to speed up client onboarding, rolling out an Integration Agent that reduces connection times to its global payments systems from weeks to just hours. Built on the Model Context Protocol, the tool is designed to simplify technical integration, reduce costly errors and give businesses faster access to optimisation tools that can accelerate revenue growth. The launch marks the beginning of what the company calls its roadmap for “agentic commerce,” where AI agents streamline and optimise complex payment workflows. Nuvei plans to expand the strategy with additional agents focused on fraud detection, revenue intelligence…
Singapore-based Crypto.com has widened its U.S. presence with a first-of-its-kind regulatory win, securing every major CFTC derivatives license needed to trade and clear crypto derivatives. The company said it now holds approvals for a designated contract market (DCM), a futures commission merchant (FCM) and a derivatives clearing organisation (DCO), making it the first major crypto platform to claim the full stack in the United States. Its affiliate, Crypto.com | Derivatives North America (CDNA), announced that it had received an amendment to its DCM license, enabling margined derivatives trading alongside existing fully collateralised products. Just days earlier, Crypto.com confirmed approvals for…
Global financial platform Airwallex has introduced Nordic currencies for its issuing customers, marking its first move into the region as it continues to grow its European footprint. Customers in the European Union can now make card transactions directly in Danish krone, Norwegian krone and Swedish krona, as well as Polish zloty. When payments are made in these currencies, amounts will be debited directly from multi-currency wallets, eliminating unnecessary foreign exchange conversions and delivering cost savings. The addition of local currencies comes in response to strong demand from EU customers for local currency support. The launch highlights Airwallex’s interest in the…
Nium has rolled out Global Collections, a new offering aimed at allowing banks to provide their clients with local currency collection accounts in multiple international markets. This solution is designed to help financial institutions enhance their service capabilities for customers involved in cross-border trade and unlock new revenue streams by combining collections, FX conversion and payouts in a single platform. The service enables banks to issue customer-named accounts in local currencies across Europe, the UK, the US and Singapore, with support for the euro, Singapore dollar, US dollar and British pound at launch. More currencies are expected to be added…
Visa is rolling out a new trial that lets businesses preload stablecoins into Visa Direct, sidestepping traditional funding delays. The pilot, announced at SIBOS 2025, is designed to speed up access to liquidity, add flexibility in managing cross-border payouts, and modernize treasury operations. Traditionally, international transfers require companies to set aside large fiat balances in advance, tying up capital and relying on slow, costly systems. By prefunding Visa Direct with stablecoins, institutions can make money available for payouts in minutes rather than days, while recipients continue to be paid in their local currencies. The pilot is aimed at banks, remittance…
Singapore Management University (SMU) has launched the Urban SustaInnovator (USI), a deep tech accelerator aimed at supporting startups focused on urban solutions and sustainability. The programme was introduced at the 12th Lee Kuan Yew Global Business Plan Competition (LKYGBPC), which this year drew 1,572 applications from 91 countries. Minister for National Development Chee Hong Tat officiated the launch, highlighting the accelerator’s role in anchoring promising startups in areas such as decarbonisation, energy transition, sustainable construction and mobility. The initiative is backed by a consortium of public and private partners including A*STAR, Antler, the Building and Construction Authority, ST Engineering, TRIREC…
StraitsX has partnered with OKX SG and Grab to roll out OKX Pay, a service that allows users to make payments with stablecoins at GrabPay merchants across Singapore. The launch is being described as the country’s first scan-to-pay service using stablecoins. Through the OKX SG app, customers can settle purchases such as coffee or dining by scanning SGQR codes at GrabPay merchants. Transactions are settled instantly in USDT or USDC via StraitsX’s regulated infrastructure, while merchants receive Singapore dollars directly in their bank accounts. This removes the need to handle digital payment tokens and addresses both volatility and compliance concerns.…
Visa is taking its commercial payments platform mainstream, bringing its VCS Hub to issuers and fintechs worldwide after a pilot run. The hub offers end-to-end payables solutions, including full invoice and supplier payments, along with flexible ad hoc transactions to meet business needs. It also integrates with accounting systems to simplify workflows and give organisations a more efficient and secure way to manage payments. Visa said the platform will continue to evolve with additional features, including AI-driven automation of accounts payable, embedded payment functions within business applications, advanced analytics for better cash flow visibility, and personalised experiences that adapt to…
OpenAI and Stripe have introduced Instant Checkout in ChatGPT, a new feature that lets U.S. ChatGPT Plus, Pro, and Free users purchase items directly within the chat. The rollout marks an early step toward what the companies describe as agentic commerce, where AI agents help people complete transactions as seamlessly as they discover products. For now, users can buy from Etsy sellers in the U.S., with over a million Shopify merchants including brands such as Glossier, SKIMS, Spanx, and Vuori to follow. When a product supports Instant Checkout, shoppers can tap “Buy,” confirm shipping and payment details, and complete their…
Thunes has announced that it is now offering its Pay-to-Banks solution to financial institutions through their existing Swift connectivity. The new offering will allow the approximately 11,000 banks within the Swift network to connect to Thunes’ global network without requiring additional technical integration. This connectivity enables banks to send both business and consumer payments to a reported 4 billion bank accounts in over 130 countries, helping to meet the growing demand for real-time payments. Alongside this, Thunes has also expanded its Pay-to-Wallets solution, allowing financial institutions to send global business payments to mobile wallets via their Swift connection. This builds…
Singaporeans crossing into Johor will be able to redeem credit card rewards at the checkout, following UOB’s launch of a new cross-border feature. From today, UOB credit cardholders can use their UNI$ points to offset purchases at more than 150 outlets in Johor. The bank is said to be the first in Singapore to offer this capability, which comes amid rising travel and spending between the two neighbours. Visitor arrivals from Singapore to Malaysia rose more than 22 percent in the first half of 2025 compared with a year earlier. UOB data shows that card spending in Malaysia has grown…
Finastra has announced its new Intelligent Routing Module at the Sibos 2025 conference in Frankfurt, Germany. The solution is designed to provide banks and financial institutions with intelligent, data-driven payment routing to process transactions more efficiently. The module uses advanced algorithms to select the most efficient payment path for each transaction in real-time. It analyses factors such as cost, speed, available payment schemes, and regulatory requirements to determine the optimal route for mass payments, instant payments, and high-value cross-border transactions. According to Finastra, the system can achieve an upwards of 95% straight-through processing rate. “Our Intelligent Routing Module… [gives] banks…
The Securities and Exchange Commission (SEC) has launched the TouristDigiPay sandbox, a pilot programme to let foreign tourists convert digital assets into Thai Baht for payments on goods and services in Thailand. Applications from digital asset business operators and e-money service providers opened on 25 September 2025. TouristDigiPay is designed to test the conversion of digital assets into Thai Baht for foreign tourists, supporting innovation, promoting economic growth and strengthening Thailand’s tourism sector. Regulations for the project took effect on 24 September 2025 after being published in the Government Gazette. Licensed digital asset exchanges, brokers or dealers that integrate with…
Swift is teaming up with more than 30 banks to build a blockchain ledger aimed at turning cross-border payments into a real-time, always-on service. The network said it is working with financial institutions from 16 countries to design the system, starting with a conceptual prototype developed with Consensys. Swift plans to complete this first phase quickly and define later phases once the proof of concept is complete. The shared ledger will record, sequence and validate transactions using smart contracts and will be built for interoperability with both established and emerging networks. It is intended to let banks move regulated tokenised…
Banking software company Temenos introduces a unified platform that uses AI to streamline payments, cut costs and enhance real-time screening for financial institutions. The new Money Movement & Management system unites payments, accounts, risk and treasury modules in one place to move money faster and more reliably. The platform helps new entrants launch services quickly while allowing established players to replace fragmented systems. Its AI tools include automated payment repair, fraud detection and copilot features to minimise manual intervention and improve straight-through processing. Temenos’ FCM AI Agent is built in to boost real-time screening and cut false positives. Integration accelerators…
The Monetary Authority of Singapore (MAS) and four major banks have tested quantum technology to protect critical financial data from future cyber threats and have now published the results. MAS worked with DBS, HSBC, OCBC, UOB, SPTel and SpeQtral to run a proof-of-concept sandbox in two phases. The first ran from September to November 2024 with DBS and OCBC, and the second from January to March 2025 with HSBC and UOB. The project trialled Quantum Key Distribution (QKD) on Singapore’s National Quantum-Safe Network Plus infrastructure to evaluate how it could secure sensitive data transfers between banks and the regulator. The…
The Monetary Authority of Singapore (MAS) will appoint Abigail Ng as its new Chief Sustainability Officer from 6 October 2025. She will take over from Gillian Tan, who has held the sustainability portfolio alongside her role as Assistant Managing Director for Development and International since October 2022. Tan will continue as Group Head of the Development and International Group. During Tan’s tenure, MAS advanced a suite of sustainability initiatives. These included the Finance for Net Zero Action Plan to mobilise financing for Asia’s low-carbon transition and the Singapore-Asia Taxonomy to align sustainable finance standards. MAS also launched the Transition Credits…
More than 30 global banks are teaming up with Swift to end hidden fees and slow transfers, setting new rules for retail cross-border payments. Swift said it will launch a new scheme to make international transfers faster, more predictable and transparent for consumers and small businesses. Participating banks will provide upfront disclosure of fees, full-value transfers without hidden charges, end-to-end visibility and instant settlement where local infrastructure and rules allow. The initiative supports the G20’s 2027 roadmap for cross-border payments and builds on upgrades that have already sped up wholesale transactions. Today 75 percent of payments on Swift’s network reach…
ShopBack appoints fintech veteran Carolina Paradas as General Manager for North America to spearhead its U.S. expansion after logging three consecutive quarters of adjusted EBITDA profitability. The Asia-Pacific shopping and rewards platform, headquartered in Singapore, said the appointment marks a key step in its expansion into the U.S. market. Paradas joins ShopBack from Fidel API, later acquired by Enigmatic Smile, where she helped grow the platform from 5 million to more than 250 million cardholders and secured partnerships with Cash App, DoorDash, Affirm and Bilt Rewards. ShopBack said her experience scaling fintech partnerships will help replicate its Asia-Pacific success in…