Author: Fintech News Singapore

Financial sanctions are essential government tools for achieving foreign policy objectives – and compliance is mandatory – but the sanctions landscape can be complex to navigate. Here we unpack some key questions around this important topic. Understand financial sanctions and why they matter. Uncover best-practice approaches for remaining compliant as well as the consequences for non-compliance. Financial sanctions enforce economic and trade bans against foreign jurisdictions and regimes, as well as individuals and entities engaging in harmful activity. In the United States, the Office of Foreign Assets Control (OFAC) is responsible for implementing and enforcing financial sanctions, but the sanctions…

GXS Bank has introduced Money Lock, a new feature in its app designed to strengthen customer protection against scams. The tool allows users to lock some or all of their savings in up to eight Saving Pockets, which can be enabled through each Pocket’s settings. Once activated, the Saving Pocket is locked immediately. The launch comes as scams continue to rise in Singapore. According to the Singapore Police Force, more than S$53 million was lost to scams in June 2025 alone, including over 600 e-commerce cases. These often involve fraudulent listings on social media platforms where victims are asked to…

The Bank of Thailand has moved to reassure the public following confusion over a reported 50,000-baht daily transfer limit. In a statement, the central bank clarified that the cap will not apply to all customers, but only to specific vulnerable groups. These include children, individuals aged 65 and older, and customers with little to no transaction history or who rarely transfer funds. Most bank users will not be affected and can continue transferring money in line with their usual patterns. Customers in categories with limited or irregular histories may request higher limits from their banks, while larger transfers can also…

Artificial intelligence is rewriting the CFO playbook in Asia Pacific. A new Salesforce survey reveals that finance chiefs are dedicating a growing share of budgets to AI agents and expect them to drive long-term business outcomes beyond cost savings. The report found that 75% of CFOs in the region believe AI agents will not only reduce expenses but also generate new revenue. More than three-quarters said the technology will change how their organisations operate. Five years ago, 63% of CFOs described their approach to AI as conservative, a figure that has since dropped to just 3%. On average, CFOs in…

Singapore’s Sea Ltd has obtained fresh regulatory clearances in Brazil that will enable it to broaden its financial services footprint, according to DealStreetAsia. The company said it has secured a Sociedade de Crédito Direto (SCD) license and received initial approval for a Sociedade de Crédito, Financiamento e Investimento (SCFI) license, reinforcing its ambition to bring its Southeast Asian fintech model into Latin America. The SCD license allows lending with the company’s own funds, while the SCFI license provides scope for a wider range of financing activities and more diversified funding. Both are part of measures introduced by Brazil’s central bank…

DBS Bank is tokenising structured notes on the Ethereum public blockchain, making them available to eligible investors through third-party platforms ADDX, DigiFT and HydraX. This marks the bank’s first distribution of tokenised products to non-DBS clients. The initiative comes as Singapore strengthens its position as a wealth management hub. The number of single family offices in the city-state exceeded 2,000 in 2024, a 43 percent increase from the year before. Structured notes usually require a minimum investment of US$100,000, but tokenisation breaks them into US$1,000 units that are identical and easier to trade. DBS said this format improves fungibility and…

Databricks, the data and AI company, announced it has signed a term sheet for its Series K funding round, which is expected to close soon with support from existing investors. The round values the company at more than US$100 billion. The proceeds are expected to be used to advance Databricks’ AI strategy, including the development of Agent Bricks, further investment in its new database product Lakebase, and international expansion. At its Data + AI Summit in June, Databricks introduced Agent Bricks, designed to create production-ready AI agents using enterprise data, and Lakebase, an operational database built on open source Postgres…

DigiFT, a licensed exchange focused on institutional-grade tokenised real-world assets (RWAs), has raised a total of US$25 million to date following its latest funding round. The firm had previously raised a US$ 10.5 million Pre-Series A funding round in February 2023. The latest round was led by Japan’s SBI Holdings, with participation from Mirana Ventures, Offchain Labs (Arbitrum), Yunqi Partners, Polygon Labs, and senior figures from global technology and financial firms. The company said the funding will support its expansion as an RWA infrastructure provider, aiming to bridge traditional asset management with on-chain finance through regulated tokenised products. DigiFT operates…

The International Finance Corporation (IFC) is investing US$7 million in a Series B round for Mongolian fintech firm AND Global, marking its first equity investment in the country in more than a decade. The funding aims to expand access to finance for small businesses and support job creation in Mongolia. Through the investment, AND Global will scale its technology arm, AND Solutions, which develops products such as document processing, credit scoring and lending systems used in 11 countries. The partnership will also strengthen its local lending platform, LendMN, listed on the Mongolian Stock Exchange. IFC will provide guidance on corporate…

The Bank of Thailand (BoT) will require banks to cap daily digital transfers at 50,000 baht for individual customers as part of new anti-fraud measures. The cap, tailored to each customer’s transaction profile, is meant to slow criminals from moving stolen funds and reduce losses, especially for children and the elderly. The decree also makes financial institutions, e-payment operators, digital asset firms, telecom providers and social media platforms jointly liable for damages from technology crimes unless they can prove compliance with regulatory standards. Effective 8 August 2025, the new rules build on five principles: targeting specific risks, having clear procedures,…

Alchemy Pay has partnered with verification provider Sumsub to integrate its Travel Rule solution across its platform, aiming to bolster compliance as regulatory scrutiny of cryptocurrency transactions grows. The Travel Rule requires virtual asset service providers to share information on transaction originators and beneficiaries, aligning crypto transfers with standards used in traditional finance. The measure is intended to improve transparency and curb money laundering and terrorist financing. With the integration, Alchemy Pay will use Sumsub’s infrastructure to automate secure data exchange with more than 1,800 counterparties connected to networks such as GTR, TRP, CODE and Sygna. The system validates and…

Stripe announced a series of product updates in Singapore as it looks to support global growth for Asian businesses through stablecoin payments and artificial intelligence (AI). The announcements were made at its Stripe Tour Singapore 2025 event, which also introduced new payment methods, the Terminal S710 reader with cellular connectivity, and more than 50 upgrades across payments, revenue, and embedded finance tools. Stablecoins are gaining traction, with 46% of businesses surveyed by Stripe planning to adopt them within two years. The company already processes stablecoin payments in more than 120 countries and has acquired Bridge and Privy to expand its…

Universal Digital Payment Network (UDPN), Giesecke+Devrient (G+D), and GFT Technologies (GFT) have joined the Commercial Bank Money Token (CBMT) initiative as technical service providers. The project is designed to enable tokenised commercial bank money, facilitating direct and secure transactions between businesses using distributed ledger technology (DLT). The CBMT initiative seeks to establish a scalable and regulatory-compliant framework for digital financial solutions. A proof-of-concept has already demonstrated its potential in real-world applications with commercial banks including DZ Bank, UniCredit and Commerzbank, alongside corporates such as Siemens, BASF, Evonik and Mercedes-Benz. The three firms will contribute onboarding and interoperability services, banking and…

SEON, a provider of fraud prevention and anti-money laundering (AML) compliance solutions, has announced that MoneyMe, an Australian digital lender, will adopt its unified platform to strengthen fraud detection as the company continues to expand. MoneyMe will use SEON across its product portfolio, which includes car loans, credit cards and personal loans, to enhance device intelligence, behavioural analysis and second-party fraud detection. The decision followed an assessment of several vendors and reflects MoneyMe’s focus on strengthening risk management while maintaining customer experience. “SEON stood out for its flexibility, strong device intelligence and scalability,” said Jonathan Wu, MoneyMe’s Chief Operations Officer…

Nexus Global Payments (NGP) has appointed Andrew McCormack as its inaugural CEO following an extensive global search process facilitated by an international talent acquisition firm. NGP is a not-for-profit organisation established by the initial first mover central banks. This includes the Reserve Bank of India, Bank Negara Malaysia, Bangko Sentral ng Pilipinas, the Monetary Authority of Singapore and the Bank of Thailand, to operationalise and manage the Nexus multilateral instant cross-border payments scheme. McCormack has more than two decades of senior leadership experience across global payments, digital infrastructure, and financial innovation. He most recently served as COO of Etihad Payments,…

Aspire has launched Aspire Yield, a new investment feature within its business account platform aimed at giving Singapore’s small and medium enterprises (SMEs) access to better returns on idle cash. The rollout follows AFT SG 2, part of the Aspire Group, securing a Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) in April 2025. The license enables the company to offer regulated investment solutions, with funds managed in partnership with Fullerton Fund Management for both Singapore and US dollar investments. Aspire said the partnership is designed to provide the stability and performance needed to turn idle…

Global expansion is high on the agenda for merchants today, yet the reality is far from simple. Setting up local entities, adapting to fragmented payment systems, and navigating diverse regulations can turn opportunities into frustration. This challenge is especially visible in emerging economies, where growth is fastest but the barriers to entry are steep. Eduardo de Abreu, Vice President of Product at EBANX, explains: “Based on data from World Data Lab, over the next 10 years, we are going to see almost 700 million people joining the consumer class (people who spend more than US$12 per day) in emerging markets.…

Indian payments firm Juspay has entered into a partnership with Outpayce from Amadeus to support global travel businesses with more flexible payment options. Under the agreement, Juspay will be integrated into the marketplace of the Outpayce Xchange Payment Platform (XPP), which connects travel companies to more than 300 acquirers and local payment methods worldwide. The integration is expected to help airlines, hotels and other travel providers activate local payment methods through a single connection, cutting down on technical complexity and speeding up market entry. The collaboration also aims to improve checkout experiences by offering customers the ability to pay through…

CIMB Singapore has launched CIMB FlexiPay, which it says is the first revenue-based loan of its kind in the market. The new product is designed to help small and medium-sized enterprises (SMEs) better manage cash flow through repayments that adjust to daily revenue. Businesses repay a fixed percentage of their daily deposits, known as a holdback rate. For example, if a company sets a 5 percent holdback and earns S$1,000 in a day, S$50 would be deducted. No repayment is required on days without revenue. CIMB said borrowers will pay a single upfront fee, with no interest, prepayment penalties or…

Payments firm Payoneer has announced a partnership with Stripe to expand its online checkout services for cross-border small and medium-sized businesses (SMBs) that sell directly to consumers. The rollout will begin in Asia Pacific markets, including China and Hong Kong, before expanding further. Merchants using Payoneer Checkout will be able to accept a wider range of payment options such as Buy Now Pay Later services from Affirm and Klarna, as well as digital wallets like Apple Pay and Google Pay. Since launching three years ago, Payoneer Checkout has scaled from zero to nearly US$1 billion in run-rate annual volume. For…