Fintech Singapore | July 2022 - Fintech Singapore

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Green Fintech

MAS: The World Needs to Move Beyond Just Green Finance to Transition Finance

Green finance alone is not enough as the world, and Asia in particular, needs transition finance, according to Ravi Menon, Managing Director at the Monetary Authority of Singapore (MAS). During the MAS Sustainability Report 2021/2022 media conference, he added that the

Crypto Trading

Bitcoin’s Recent Sell-off and Other Crypto News

Near the beginning of June, the World Bank reduced its forecast for worldwide economic growth for the year to 2.9%, the reasons being: accelerated inflation, depressed stock markets, and high Fed interest rates. These factors also contributed to a severe

Security

eKYC Firm Jumio Records Its Highest Sales Quarter Ever

Jumio, a provider of orchestrated end-to-end identity proofing, eKYC and AML solutions, announced the highest sales of any quarter in the company’s history. The firm said that this was fueled by an “ongoing need for modern enterprises across all industries

Funding

Fintech Funding in Singapore Remains Strong Despite Global Downturn

After a record-breaking year 2021, global funding is slowing dramatically in 2022 with fintech companies raising a total of US$108 billion in H1 2022, data from KPMG show. But despite the current global slowdown, Singapore has nevertheless managed to weather

GTN Appoints New Global Head of Fintech to Push Global Expansion Plans

Global Trading Network (GTN), a fintech-powered global trading and investment ecosystem, has appointed Ankit Shah as Global Head of Fintech as it continues strengthening its management team. As Global Head of Fintech, he will strengthen and grow GTN’s proposition for

Crypto Payments

Luno’s Singapore Users Can Now Buy Crypto Using Debit or Credit Cards

Global cryptocurrency company Luno announced its partnership with payments provider FIS for its Worldpay Merchant Solutions capabilities to enhance payment options on its app. From today onwards, Singapore customers will be able to purchase cryptocurrencies instantly using their credit or

Blockchain Payments

FOMO Pay Taps Ripple’s Liquidity Solution for Same-Day Settlements Globally

Singapore-based major payments institution FOMO Pay announced that it will utilise Ripple’s crypto-enabled enterprise technology to improve its cross-border treasury flows. Ripple’s On-Demand Liquidity (ODL) leverages XRP, the digital asset built for payments as a bridge between two fiat currencies,

Indonesia

Fintech Momentum in Indonesia Continues to Gain Steam

Indonesia’s fintech sector has grown at a fast pace these past couple of years, driven by a dynamic startup ecosystem, supportive governmental initiatives to encourage innovation and help improve financial inclusion, as well as rapid adoption of digital financial services

Rise of Super-Apps Puts Pressure on Incumbents

In Asia, bigtechs and new digital banking challengers are rapidly gaining ground, forcing incumbent banks to rethink their business strategy and become a part of the super-app ecosystem, a new report by Finextra, in association with Infosys Finacle and OneSpan,

Funding

Global Fintech Funding is On The Decline with Largest Quarterly Fall in a Decade

After a blockbuster year 2021, the venture capital (VC) market for startup investment is now pulling back amid uncertain macroeconomic conditions and market turmoil. Funding is dropping, mega-rounds of US$100 million and up are declining in number and fewer unicorns