FinTech

Emerging markets venture capital firm Quona Capital announced Wednesday the final close of its Fund III at $332 million, significantly exceeding its $250 million target. This is the third fund from Quona Capital since its inception, bringing the firm’s aggregate committed capital to over $745 million.

Touch ‘n Go Group, via TNG Digital Sdn Bhd (TNG Digital), owner and operator of Touch ‘n Go eWallet, announced Monday it is expanding its cross-border payment capabilities to China through its collaboration with Alipay+, a suite of global cross-border digital payments and marketing solutions operated by Ant Group.

Foreign travelers visiting Malaysia can now pay using their domestic mobile e-wallets at over 40,000 retail outlets powered by GHL Systems Berhad (GHL), which is made possible through a partnership announced on Monday with Alipay+, a global cross-border digital payments and marketing solution.

ANEXT Bank, a digital wholesale bank incorporated in Singapore and a wholly-owned subsidiary of Ant Group, on Wednesday unveiled its latest initiative to drive further industry collaboration as part of its mission to enable effortless and inclusive financing for small and medium-sized enterprises (SMEs).

HashKey Capital Singapore Pte. Ltd., together with its affiliates, announced Friday that it has received its in-principle approval for the Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS) as a licensed fund management company (LFMC).

Technological advancements have also led to new-fangled neobanking solutions which integrate spending, sending, and lending capabilities all from one application – making traditionally tedious financial processes a breeze for consumers. 

BigPay, a Malaysia-based FinTech firm, has partnered Singapore-based crypto payment firm TripleA, to launch its crypto top-up feature. BigPay users can seamlessly convert their crypto assets into cash to spend using their BigPay debit cards, without having to go through the typically tedious verification process.

The MOU seeks to formalize each national FinTech association’s involvement in the formation of the ASEAN FinTech Movement, with the goal of raising the region’s profile as a FinTech powerhouse, as well as providing a common networking platform for the region’s FinTech players to tap onto.

Wise, the United Kingdom-based payment firm, announced Wednesday that it has received a capital markets services licence from the Monetary Authority of Singapore (MAS), which will enable the firm to bring its new investment product, Assets, to Singapore in the coming quarters.

Weavr, a United Kingdom-headquartered technology provider that empowers businesses with plug-and-play embedded finance solutions, has set up in Singapore as part of its mission to make embedded financial services available to any digital business.