Fintech Singapore | August 2022

Archive

GXS Bank Introduces Savings Account Ahead of Launch Next Monday

The Grab-Singtel digital bank consortium, now branded as GXS Bank, announced the roll out of its savings account ahead of its launch next Monday. The consortium was among the four successful applicants having secured a full digital bank license from

Digital Transformation Sponsored Post

How Indonesia’s BNPL Giant Leverages Data Science to Drive Innovation

Data science and machine learning are some of the most complex yet important business concepts today. And many companies, irrespective of their niche, rely on them to deliver a better user experience to their customers. But what role do data

Crypto Payments

Wix Partners With TripleA to Enable Crypto Payments Acceptance for Its Merchants

TripleA, a licensed crypto payment gateway, announced that it has partnered with global SaaS platform Wix to help the latter create, manage, and grow an online presence. This partnership allows Wix merchants to accept cryptocurrency payments via a simple plugin

Funding Lending

RABC Group Raises US$6.7 Million in Series A Led by Japan’s SBI Group

RABC Group, a Singapore-headquartered fintech firm with subsidiaries in China and Japan, announced the successful raise of US$6.7 million in Series A funding round led by Japan’s SBI Group. Other investors that participated in the fundraise include Sumitomo Mitsui Banking

Funding Payments

iPiD Bags US$3.3 Million Seed Funding, Names SWIFT Exec as Chief Commercial Officer

Fintech startup International Payments Identity (iPiD) announced a US$3.3 million seed funding round and the appointment of Alain Raes, a long-time payments industry expert and former SWIFT executive, as its Chief Commercial Officer. iPiD secured the funds from Rapyd Ventures,

Lending

SME Lender Validus and Citi Set Up US$100 Million Securitisation Facility

Southeast Asian SME growth financing platform Validus and Citibank announced the establishment of a US$100 million securitisation facility. This will be collateralised by SME loans originated by Validus in Singapore. In March this year, Validus announced that it had inked

Crypto

MAS Mulls Further Measures to Safeguard Retail Investors From Crypto Trading Risks

The Monetary Authority of Singapore (MAS) said that it is considering further measures to mitigate consumer harm emerging from cryptocurrency trading at the Green Shoots Seminar yesterday. Ravi Menon, Managing Director at MAS added that the regulator had issued numerous

Blockchain Payments

Lightnet Raises US$50 Million to Bolster Blockchain-Powered Remittances

The Lightnet Group, a Singapore-based fintech firm with several licensed subsidiaries around the globe providing cross-border remittance services, announced that it has secured a US$50 million capital commitment from LDA Capital. According to Lightnet, it will have the option to

Indonesia Payments

Bank Indonesia and MAS to Pilot Cross-Border QR Code Payments Linkage

Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) has begun developing the cross-border QR payment linkage between the two countries as part of the ASEAN-wide payments connectivity effort. This linkage, which is targeted to be launched in the

Wealthtech

ADDX Launches Cash Management Tool With OCBC’s Lion Global Investors

Asian private market exchange ADDX has launched a cash management tool that allows investors with excess funds in their wallets to earn interest, instead of letting their cash sit idle while they decide on which private market product to take