FinTech
Malaysia and Singapore launch cross-border real-time payment systems connectivity
Malaysian central bank Bank Negara Malaysia (BNM) and Singapore central bank the Monetary Authority of Singapore (MAS) have jointly launched the real-time payment systems linkage between Malaysia’s DuitNow and Singapore’s PayNow.
Ant International, Grab, StraitsX collaborate to enable cross border payments with Purpose Bound Money for local merchants
Ant International, Grab, and StraitsX (part of Fazz) have on Thursday announced a collaboration to look into the potential for Purpose Bound Money (PBM) to be applied to cross border payments. If successful, this advancement in cross border payment capabilities will expand PBM use cases with the aim of launching in Singapore in 2024.
Innovating for FinTech inclusion: Ant International’s plans for the next billion users
At the #SingaporeFinTechFestival 2023, we learn how innovations are rewriting the narrative of financial empowerment, enabling a future where everyone, regardless of their geographical or socio-economic background, will have access to essential financial tools and services.
Singapore’s StraitsX gets approval to issue single-currency pegged stablecoins
Singapore-based digital asset platform StraitsX has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) as major oayment institutions licensed for digital payment token services, for the purpose of issuing XSGD and XUSD respectively.
MAS partners financial industry to expand asset tokenization initiatives
The Monetary Authority of Singapore (MAS) has on Wednesday announced that it is working with the financial industry to expand asset tokenization initiatives and develop foundational capabilities to scale tokenized markets. These developments under Project Guardian will catalyze the institutional adoption of digital assets, with the aim of freeing up…
Ant Group Digital Technologies says its international business operation increases 300% in the past year
Ant Group Digital Technologies announced that its revenue from its international business operation has increased by 300 percent in the past year, with key markets including Malaysia, Indonesia, the Philippines and other emerging economies.
MAS, Temasek Trust collaborate to accelerate growth of FinTech and impact ecosystem
Monetary Authority of Singapore (MAS) and Temasek Trust have collaborated to accelerate growth of FinTech and impact ecosystem. Temasek Trust has signed a letter of intent (LOI) with the MAS to explore a common FinTech and impact investment roadmap, and an interoperable technology framework to facilitate cross-platform collaborations between open…
Singapore’s Wind.App raises $3.8M funding from Global Founders Capital, Spartan Group
Singapore fintech firm Wind.App has announced a successful $3.8 million pre-seed funding round. The round was co-led by Global Founders Capital and Spartan Group, and saw participation from prominent investors, including Saison Capital, Alumni Ventures and Tiny VC.
Malaysia’s SME Corp allocates $1.27M to Bumiputera youth entrepreneurs
SME Corporation Malaysia (SME Corp. Malaysia), an agency under the Ministry of Entrepreneur and Cooperatives Development (MECD) and Funding Societies, an unified SME digital finance platform in Malaysia and Southeast Asia, have allocated an initial fund of MYR 6 million ($1.27 milion) for Bumiputera youth entrepreneurs.
Grab-backed GXBank unveils beta bank app
GX Bank Berhad (GXBank), the Grab-backed Malaysian digital bank, is officially rolling out its beta app to selected 20,000 Malaysians users effective November 14, 2023. This comes after successfully testing the beta app amongst employees of the bank and partners.
