Author: Fintech News Singapore

Bank of Singapore has launched the Family Office Catalyst, a new service in Singapore for ultra-high net worth individuals seeking professional wealth management without setting up a dedicated single-family office. The solution offers advantages typically linked to such structures, including access to specialised investment expertise and eligibility for tax exemptions, subject to conditions under Sections 13O and 13U of the Income Tax Act. Under the arrangement, the bank is appointed as fund manager of an investment vehicle with at least US$20 million in assets, managed on either a discretionary or advisory basis. This structure allows clients to benefit from professional…

More shoppers are paying digitally in Singapore’s heartlands, helping merchants lift their Saturday earnings by 50% since DBS brought back its PayLah! SG60 cashback campaign last month. The increase outpaces the 40% boost seen in a similar programme last year. The campaign, launched on 12 July, offers up to S$3 cashback for the first 160,000 people who scan to pay with PayLah! every Saturday at more than 22,000 participating shops, wet markets and hawker stalls. In its first month, over 400,000 Singaporeans and residents redeemed about 800,000 rewards, pointing to strong repeat use. Wet market stallholders have seen the sharpest…

True Global Ventures 4 Plus (TGV) has secured a Capital Markets Services license from the Monetary Authority of Singapore. This enables it to conduct regulated fund management activities under the Securities and Futures Act 2001 beyond the management of venture capital funds. The approval recognises TGV as a licensed fund management company for accredited investors and allows it to manage regulated investment funds from Singapore. The license enables the firm to expand its mandate to new strategies. These include continuation funds that can support later-stage pre-IPO companies and invest in both primary and secondary rounds. It also covers fund of…

Singapore-based Coda has completed its acquisition of Amsterdam-headquartered Recharge, a prepaid payments platform in Europe, following its July announcement of a definitive agreement to acquire the company. The combined business now serves over 200 million users in 180 markets and processed US$1.75 billion in sales in 2024. It is on track to surpass that figure in 2025. Coda works with publishers including Electronic Arts, Activision and Riot Games, while Recharge partners with Apple, Google, Vodafone and PlayStation. The deal expands Coda’s European presence and broadens its product portfolio alongside existing networks in Southeast Asia and other markets. Recharge.com, Startselect and…

Visa is expanding its Click to Pay service across Asia Pacific through partnerships with payment enablers 2C2P, Adyen, AsiaPay and Worldpay. The service lets online shoppers complete transactions without entering card details manually, using tokenised information linked to an email address or mobile number. It is designed to work across browsers and devices and supports biometric authentication through payment passkeys. Personal information is stored by Visa to address consumer concerns about saving data on third-party sites. The regional rollout follows earlier launches, including with ZA Bank in Hong Kong, the first issuer in Asia Pacific to enable Click to Pay…

The Singapore Police Force has warned the public about a rise in phishing scams involving YouTrip e-wallet accounts, with at least 21 cases reported since June 14 and losses amounting to about S$16,000. Victims were lured by online advertisements for cheap food items such as durians and were directed to fraudulent websites. They were asked to provide their YouTrip card details, delivery information and phone numbers. Scammers then attempted to log in using the numbers, which triggered a one-time password (OTP) sent to the victims’ phones. Believing the OTP was needed to complete their purchase, victims entered it on the…

Brunei Darussalam Central Bank (BDCB) and the Monetary Authority of Singapore (MAS) have reaffirmed their close ties at the fifth BDCB-MAS Bilateral Roundtable in Brunei Darussalam. At the meeting, the two central banks discussed global and regional economic developments as well as cooperation in payments connectivity. They also reviewed plans to mark the 60th anniversary of the Currency Interchangeability Agreement (CIA) in 2027. During the roundtable, BDCB Managing Director Hajah Rashidah binti Haji Sabtu and MAS Managing Director Chia Der Jiun signed a memorandum of understanding on a reciprocal cross-border collateral arrangement. The agreement will enable both regulators to accept…

Thailand has launched a program that allows foreign visitors to convert crypto into baht for everyday electronic payments. The Nation reports that the initiative, called TouristDigiPay, is part of broader efforts to revive tourism following a slowdown in arrivals, particularly from China. Deputy Prime Minister and Finance Minister Pichai Chunhavajira will present the details alongside officials from the Finance Ministry, the Securities and Exchange Commission, the Anti-Money Laundering Office, the Bank of Thailand, and the Ministry of Tourism and Sports. The program will operate in a regulatory sandbox to ensure proper oversight and to prevent the direct use of crypto…

HSBC is preparing one of the most extensive workplace monitoring projects in global banking, pairing thousands of new cameras and biometric scanners with Israeli-built surveillance tools, according to internal documents seen by Reuters. At its new City of London headquarters, the bank intends to install about 1,754 cameras, nearly four times the number at its Canary Wharf base. Biometric scanners are also set to more than double, from 350 to 779, with systems ranging from full-hand recognition to phone-based entry using staff mobiles. The initiative will not be limited to the UK. HSBC is extending the same security model to…

FIS has introduced the FIS Investor Services Suite, an end-to-end solution aimed at improving investor servicing for financial institutions, as well as alternative and traditional fund managers. The system is designed to optimise processing for faster client onboarding and enhanced investor screening, with the potential to automate the investor lifecycle to increase operational efficiency and support regulatory compliance. The launch comes as the capital markets industry faces growing regulatory requirements and operational challenges. Joint research by FIS and Chartis indicates that the alternative assets market could surpass US$20 trillion by 2025, creating demand for more streamlined, technology-driven solutions. The Investor…

NTT DATA has entered a global partnership with Google Cloud to accelerate AI-powered cloud innovations and expand enterprise adoption across industries. The collaboration brings together NTT DATA’s deep industry expertise in AI, cloud-native modernisation and data engineering with Google Cloud’s advanced analytics, AI and cloud technologies to deliver tailored, scalable solutions. The partnership will focus on industry-specific applications of agentic AI and cloud modernisation in sectors including banking, insurance, manufacturing, retail, healthcare, life sciences and the public sector. In financial services, it will support regulatory compliance and reporting through NTT DATA’s Regla platform, which uses Google Cloud’s scalable AI infrastructure.…

Neon has partnered with payment service provider Razorpay to let its clients accept payments from players in India in local currency via UPI-enabled methods, as well as credit and debit cards. The move extends Neon’s Merchant of Record platform to India, bringing its global payment service provider network to seven: Razorpay, Stripe, PayPal, Paysafe, dLocal, Bamboo and Komoju. This network covers over 99% of global mobile game spending, including all of the top 50 markets. India is a priority market for Neon, driven by client demand and the fastest-growing user base in mobile gaming. In FY 2024–25, the country recorded…

Antler has invested US$7.4 million in startups across Southeast Asia in the first half of 2025, including US$2.8 million for seven companies through its new AI Disrupt residency in Singapore. The H1 deployment spans Singapore, Indonesia, Vietnam, and Malaysia. Antler said it led 74 AI investments globally in 2024, describing itself as the world’s most active AI investor. The four-week, in-person program targets early-stage teams with an MVP and live customers, providing capital and AI-focused technical resources to accelerate go-to-market strategies and scalability. The selected startups are Iris, Nugen, IndustrialMind.ai, Lambdai Space, Anamaya AI, AppSecAI, and 5.Y (GLUCOSE), offering solutions…

Physical counters are losing ground in Asia Pacific’s remittance market, as more people turn to app-based transfers that offer speed, security and convenience, according to Visa’s 2025 Money Travels report. The study surveyed 44,000 senders and receivers across 20 countries and territories, tracking trends in a global remittance market valued at about US$905 billion. Asia Pacific was identified as a key region where digital channels have become the most preferred choice for money transfers. India, the Philippines and Singapore recorded the highest adoption rates for digital remittances, at 74%/76%, 74%/66% and 70%/75% respectively. Japan saw a 10% increase from the…

Paytm, a wholly owned subsidiary of One 97 Communications, has received in-principle approval from the Reserve Bank of India to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. The approval is subject to compliance with the RBI’s Guidelines on Regulation of Payment Aggregators and Payment Gateways issued in March 2020 and subsequent clarifications in March 2021. It follows the central bank’s decision to withdraw merchant onboarding restrictions imposed in November 2022. The authorisation covers only online payment aggregator operations as defined in the RBI’s regulations. In a separate development, China’s Ant Group has fully…

Payoneer has announced a collaboration with Citi to launch real-time, blockchain-enabled treasury transfers via Citi Token Services, the bank’s tokenised liquidity and payment platform. The service lets Payoneer move funds between its global accounts in participating branches and currencies at any time, reducing reliance on traditional payment methods and avoiding delays from banking cut-off times, weekends, and public holidays. Available in markets such as the US, UK, and Singapore, the capability is designed to improve the speed, transparency, and automation of intra-company transfers while streamlining cash management and foreign exchange risk mitigation through programmable, blockchain-based settlements. Launched in 2024, Citi…

Nuvei has expanded its global money movement capabilities by using stablecoin rails to enable faster, lower-cost payouts to bank accounts worldwide, focusing on emerging markets where traditional infrastructure often causes delays and inefficiencies. The company said the stablecoin-backed backend transfer of fiat funds allows same-day or next-day settlement and reduces reliance on costly intermediaries that can delay payments in underserved regions. Businesses can fund virtual bank accounts via local payment rails, avoiding slower and more expensive SWIFT transfers. Once funded, the value is moved via blockchain and, in the beneficiary’s country, local financial institutions connect to domestic networks to pay…

Airwallex, a global financial platform, has received a Markets in Financial Instruments Directive (MiFID) license from the Dutch Authority for the Financial Markets (AFM). The authorisation will allow the company to launch Airwallex Yield, giving European businesses a way to earn returns on idle multi-currency balances. The product will provide small to medium-sized businesses with access to Money Market Funds (MMFs), an option not commonly available through traditional banks. Businesses will be able to transfer funds between their cash balance and Yield account at any time, with no lock-up periods or term deposit restrictions. Yield will support balances in euros,…

Global insurtech firm bolttech has established an external advisory board to provide strategic advice for its next phase of expansion. The eight members, serving in their personal capacity, bring experience from insurance, private equity, venture capital, and other sectors: • Dawn Miller, Chief Commercial Officer of Lloyd’s and CEO of Lloyd’s Americas • Edouard de Lamarzelle, former CEO of Stellantis Insurance • Felipe Fernandez Atela, Chairman and CEO of AdeA Information Intelligence • Gaurav Garg, Partner and Global Head of Property and Casualty Insurance at Oliver Wyman • Noel Goh, Lead Partner for Workforce Practice at PwC Singapore • Pooja…

Singaporean consumers are embracing cross-border e-commerce like never before – and they’re demanding more from merchants at every step of the journey. According to a recent study commissioned by Airwallex in partnership with Statista, 98% of consumers in Singapore are comfortable buying online from another country – significantly higher than the global average of 89%. Nearly 70% of Singaporean respondents make international purchases at least once a month, driven by strong demand for fashion (75%), skincare (60%), electronics (56%), and food and beverage (49%) products. And they’re not just buying anywhere – 87% typically shop on major platforms like Amazon,…