Author: Company Announcement

CIMB Singapore and iTrust today announced that they have successfully completed their first structured trade financing transaction on iTrust’s Blockchain and Internet of Things (IoT) platform. The transaction involves the financing of dairy products imported into China and is expected to generate transaction flows of up to US$100 million a year, according to their media statement. iTrust provides secured real-time visibility of the cargo in transit and in the warehouse using blockchain-based IoT. All data and documents from the transaction are stored in a distributed ledger for provenance and immutability. The technology provides all stakeholders with a secured operational dimension…

Travel technology scaleup Upgrade Pack has expanded its flight and hotel upgrade business into Asia Pacific with the opening of a Singapore office. As part of the company’s growth, Upgrade Pack has appointed ex-Google and Expedia executive Toby Berger as APAC COO, as the startup rolls out its customer loyalty and reward platform in the region. The international expansion comes as Upgrade Pack prepares to launch its app, which provides users with discounted upgrades on flights and hotels of up to 35%. Its proprietary technology offers banks, credit card issuers and employers a differentiated, digital customer loyalty and employee benefit,…

Refinitiv announced it has launched its global electronic trading Matching service in Vietnam, as emerging markets in the Asia region continue to develop their financial markets and digitize FX trading capabilities. The launch represents Vietnam’s first electronic marketplace for the trading of VND. Matching trades on a T+1 basis which is the most commonly traded value date. Vietnam has had a remarkable growth and development story over the past 30 years. Economic and political reforms under Đổi Mới launched in 1986, have laid the groundwork for growth that averaged 6.6 percent per annum during 2014-18, reaching a 10 year high…

With digital technology revolutionising accounting and financial management across Singapore and Southeast Asia, cloud adoption and the uptake of software, services and solutions to streamline finance and accounting processes are certainly on the up around the region. The Accounting & Finance Show Asia, organized by Terrapinn, is the flagship event for accounting firms and small and medium sized businesses across Asia looking for access to world class financial solutions that are low cost, scalable and mobile. The Show will highlight the latest accountancy practices, technology and solutions presented by experts, advisors and consultants at the Suntec Convention Centre from 8…

Asia’s largest technology event stack, Cloud Expo Asia, Cloud & Cyber Security Expo, Big Data World, Smart IoT Singapore, Data Centre World, eCommerce Expo Asia, and new launch event, Technology for Marketing Asia, will return for its seventh edition on 9 – 10 October 2019. 2019 will see the event stack expand to two levels of Marina Bay Sands Expo and Convention Centre (Basement 2 and Level 1) in preparation for the 18,000 international industry professionals expected to attend. Event features this year include a suite of new content & highlights, including the newly launched Channel Partner Programme – a…

Euronext today announces the successful launch of Euronext FX in Singapore. Having been first announced on 26 March 2019 for a target launch date of Q4 2019, the venue was launched months ahead of schedule, with the first spot foreign exchange trades occurring on 09 September 2019 between two global banks. In a media statement, Euronext said that the Singapore launch reflects Euronext FX’s ambition to be closer to its clients worldwide and creates a strong development base to become a major electronic FX marketplace in the region. It also enables clients across the Asia-Pacific region, including Singapore, Australia, and…

On 25 & 26 September at SMX Convention Center Manila, Pasay City, Seamless Philippines 2019 will open its doors, bringing together the entire Philippines’ commerce & finance ecosystem to innovate, transform and disrupt. On the morning of 25 September, Guest-of-Honour, Mr Ephyro Luis B. Amatong, Commissioner, Securities and Commission will kickstart the keynote plenary session. The session will also feature insights from Christopher James Payne, President, Veritaspay and Angelica I. Sarmiento, Director IV, Department of Finance. That afternoon will bring keynotes about Driving innovation in banking by Lito Villanueva, EVP and Chief Innovation and Inclusion Officer of RCBC and Facebook’s…

The Hyper Capital Community Meetup was held successfully in Hong Kong on September 16 at The Kimberley Hotel. The event saw a strong crowd of 300 key leaders of the Hyper Capital community and was graced by early bitcoin investor, chairman of Bank of China Holdings, BGL Co-founder Ryan Xu as well as HCash CEO Adam and CMO Andrew, who shared important information on HCash’s efforts, achievements and technology development to date. Entering a New Blockchain Era Guests gathered to witness the launch of Hyper Capital, during which Marketing Director Qiu Jianhui announced the establishment of a new innovative community…

Launched by Smartnet in May 2019, SmartPay acquired over 200,000 users and 3,000 merchants across Vietnam. Different types of merchants have been joining SmartPay to accept mobile payments – from individual entrepreneurs and street food vendors to food and beverage chains. Merchants and users can become a part of SmartPay ecosystem by simply installing the app and passing KYC (“Know-Your-Customer”) procedure which implies providing their national ID or linking a bank card to their account. A merchant receives an additional QR code to accept payments from users. All personal information and data collected from users are encrypted and protected according…

Singapore-based Tokenize Xchange announces its partnership with Digix, a company based in Singapore to change the way users manage their physical assets. The partnership constitutes the listing of Digix Gold Token (“DGX”) on Tokenize Xchange and it signifies the start of tokenising tangible assets in first, Singapore, then the rest of the Southeast Asia market. DGX can be purchased and sold on Tokenize Xchange using United States Dollar (“USD”) and Ethereum (“ETH”). The partnership with Tokenize Xchange is the final piece of the puzzle for Digix, which has also partnered with two other Singaporean companies to provide its consumers with…

SWIFT today announces the results of a global trial to integrate SWIFT gpi Instant, the co-operative’s cross-border instant payments service, into Singapore’s domestic instant payment service, Fast And Secure Transfers (FAST). The successful trial which involved 17 banks across seven countries – Australia, China, Canada, Luxembourg, The Netherlands, Singapore and Thailand – saw cross-border payments between these continents settle within 25 seconds; with the fastest from Australia to Singapore in just 13 seconds. This major advance extends the speed and transparency of SWIFT gpi deeper into domestic markets, reaching a wider set of ultimate beneficiary accounts around the world. The…

Binance – the global cryptocurrency exchange that in the last 24 hours has facilitated more than $2 billion in trading volume, has just announced that is has launched a Fiat-to-Crypto gateway for citizens based in Singapore.  The platform, which it calls Binance Singapore, will enable users to purchase and sell cryptocurrencies in exchange for the nation’s native fiat currency – the Singapore Dollar. This will be the third fiat-to-cryptocurrency venture that Binance has launched this year, alongside Binance Jersey (GBP and EUR) and Binance Uganda (UGX). How Will the Fiat Facility Work? The Binance Singapore platform will be available to…

Seamless Asia, the region’s largest free-to-attend payments, banking, identity, e-commerce and retail conference and exhibition with 150 exhibitors and over 6,000 attendees, returns to Singapore on 26-27 June to explore innovative digital solutions changing commerce and banking in Asia. Representatives from banks, online & offline retailers, major payments providers and vendors who support the ecosystem will be in attendance. A highlight of key sessions follows: 26 June: At 9am, Go Jek Pay CTO, Ajey Gore, will be talking about Go Pay, the mobile ride-hailing wallet. Europe’s leading mobile-only alternative bank is set to launch in Asia this year. Jakub Zalrzewski, General Manager, Revolut will be sharing his launch plans at 11am in…

Singapore’s first one-stop property solution Ohmyhome, announced the opening of the country’s first-ever PropTech Innovation Centre this week. The 11,000-square-foot facility will accelerate continuous innovation and productivity, as the company expands into other markets in the region. The centre, located in Toa Payoh will double up as the company’s regional headquarters and will boast a data and research facility, hot-desking spots for their in-house agents and a public seminar chamber, where property literacy programmes will be conducted. Each of its nine zones will specialise in key areas and collaborations, much like a home with different rooms. The zones will also…

MetLife Foundation and Visa, with partners Accion and IFC, launch inaugural list to help fintech companies attract capital and resources to benefit the 3 billion financially underserved people globally. MetLife Foundation and Visa with global nonprofit Accion and World Bank Group member IFC, announced the winners of the Inclusive Fintech 50, a competition launched in February to help early-stage fintech companies attract capital and resources to benefit the world’s 3 billion financially underserved people. The 50 winners – which were selected from 400 eligible applicants – demonstrate the power of financial technology to expand access, usage, and quality of financial…

Halo Investing, the world’s first and only independent, multi-issuer technology platform for Structured Notes has recently closed a $12 million Series B financing round at an undisclosed valuation from venture capitalists including Allianz Life Ventures, part of Allianz Life Insurance Company of North America, an affiliate of Piton Investment Management, and William Blair Circle, an affiliate of William Blair. This investment will help further expand Halo’s international footprint, support initiatives that will change the way Structured Notes are purchased, accessed and traded, and expand into new asset classes. Part of the funds will allow Halo to continue to expand its…

Grab users will now be able to authorise the retrieval of personal data from MyInfo, a digital identity service from GovTech, to complete the verification process easily. This comes after GrabPay became a relevant stored value facility (SVF), licensed and regulated by the Monetary Authority of Singapore (MAS). As a regulated e-wallet, Grab is now required to perform customer identity verification on GrabPay users, in a process called KYC (Know Your Customer). MyInfo simplifies the customer verification process by reducing manual form-filling and eliminating the need to submit supporting documents such as photos of the NRIC. GrabPay users who successfully…

UOB and KrisFlyer, Singapore Airlines mile reward program, announced the launch of the KrisFlyer UOB Credit Card. This is the first credit card in Singapore which can be combined with a savings account to earn bonus KrisFlyer miles when customers spend and save. In designing the KrisFlyer UOB Credit Card and upgraded KrisFlyer UOB Savings Account, the two homegrown brands analysed the spending, saving and travelling behaviour of Singapore consumers over the last three years. They found that travel was the number one spend category for UOB cardmembers, accounting for 15 per cent of total spend from 2016 to 2018.…

The Investment Management Association of Singapore (IMAS) today announced that it has appointed Susan Soh, CEO Singapore, Schroders, as its new Chair of the IMAS Executive Committee. The IMAS Executive Committee elected Ms. Soh from her current role of Deputy Chair on the Committee. The Executive Committee has also voted in Eleanor Seet, President and Director of Nikko Asset Management Asia, into the position of Deputy Chair. Ms. Seet was already an acting Executive Committee member. Both appointments are effective 1 April 2019. The Executive Committee of IMAS is responsible for the oversight and governance of the various sub-committees, including…

By 2021, Artificial Intelligence (AI) will allow the rate of innovation and employee productivity improvements in Singapore to nearly double  according to business leaders in Singapore. The study from Microsoft and IDC Asia/Pacific, Future Ready Business: Assessing Asia Pacific’s Growth Potential Through AI surveyed over 104 business leaders and over 102 workers in Singapore. While more than 80% of business leaders polled agreed that AI is instrumental for their organisation’s competitiveness, only 59% of organisations in Singapore have embarked on their AI journeys. Those organisations that have adopted AI expect it to increase their competitiveness 1.7 times by 2021. “Today,…