FinTech
Singapore’s Sea revises up guidance for Shopee amid strong e-commerce momentum
Singapore-based tech conglomerate Sea Limited has raised the outlook for its e-commerce arm Shopee amid strong e-commerce momentum.
Wise increases account holding and spending limits amidst 30 percent year on year customer growth in Singapore
Global technology company Wise announced Tuesday it has expanded its holding and spending limits for the Wise Account in Singapore. This comes as Wise celebrates a 30 percent year-over-year growth in its local customer base, driven by increased demand for faster, low-cost and more transparent international payments.
Philippine Central Bank lifts moratorium on establishment of digital banks
Philippine Central Bank Bangko Sentral ng Pilipinas (BSP) has approved the lifting of the moratorium on the grant of new digital banking licenses starting January 1, 2025 and allowed a maximum of ten digital banks to operate in the country.
The purpose of restaking in DeFi: Unlocking higher yields and improved liquidity
Decentralized finance (DeFi) has experienced significant growth in 2024, with total value locked (TVL) more than doubling its value since the previous year. According to CoinGecko, the DeFi ecosystem boasts over $91.76 billion in locked assets as of June 2024, demonstrating a shift in market sentiment toward increased trust and adoption. Among the…
Moomoo Malaysia enhances global market access with Singapore Exchange (SGX) trading
Trading platform Moomoo Securities Malaysia Sdn. Bhd. (Moomoo Malaysia) has on Wednesday announced it is enhancing global market access for Malaysian investors with Singapore Exchange (SGX) trading.
KPMG: Singapore FinTech deal activity rises amid declining investments in first half
Singapore fintech deal activity rises amid declining investments in the first half of 2024, KPMG said Tuesday. The country's fintech deal count rose by 19 percent to 117 deals in the first half of 2024 from 98 deals in the second half of 2023, but total deal volume fell 34 percent to $522.89 million from $790.10 million amid economic uncertainties.
The evolution of banking: From traditional services to self-banking solutions
The evolution of banking marks a radical change toward self-managed financial solutions, from conventional services, to banking as a service, and now decentralized finance. By allowing service providers to provide combined financial services, BaaS has helped to improve operational effectiveness and customer experience. Meanwhile, #DeFi has changed…
Grab-led GXBank to invest $333M in Malaysia over the next five years
Grab-led GX Bank Berhad (GXBank) said Friday that it will invest MYR 1.5 billion ($333 million) into Malaysia over the next five years includes the establishment of the GX Untuk Semua initiative, further solidifying Malaysia’s position in the digital banking landscape.
Ayala acquires additional 8 percent stake in Mynt for $394.54M
The Philippines-based conglomerate Ayala Corporation has acquired additional 8 percent stake in Globe Fintech Innovations, Inc. (Mynt), the parent company of the finance super app and digital cashless ecosystem GCash in the Philippines, for PHP 22.9 billion ($394.54 million).
WeChat Pay Malaysia to discontinue e-wallet service
Chinese payment firm WeChat Pay will discontinue its e-wallet service in Malaysia from September 1, 2024 due to business strategy adjustment.
