Singapore

Singapore-based gaming venture capital firm Play Ventures announced Monday that its debut Fund I has generated a return of 1.5 times to investors in distributed capital (DPI) in less than four years. With 20 companies remaining in the portfolio and six years to go in the fund lifetime, that figure is set to further increase significantly.

The Monetary Authority of Singapore (MAS) has on Tuesday announced the features of a new regulatory framework that seeks to ensure a high degree of value stability for stablecoins regulated in Singapore. The regulatory framework takes into account feedback received, following an October 2022 public consultation.

United States-based accelerator firm Plug and Play has partnered with Singaporean government agency Enterprise Singapore (EnterpriseSG) to launch of the Global Innovation Alliance (GIA) San Francisco Acceleration Program, providing an opportunity for Singapore startups to explore and expand their products in the dynamic tech hub of San Francisco and the…

ZujuGP, helmed by Singaporean businessman Kiat Lim and fronted by the Portuguese professional footballer Cristiano Ronaldo, has launched Kickoff by Zuju – a real-time, second-screen fan experience that enables fans to play along during a live football match.

Digital trade is reshaping opportunities for Singaporean businesses in the global economy, said Stripe Friday. Its report found that consumers and businesses are optimistic about the globalized economy, with businesses looking to expand into new international markets, and consumers increasingly willing to purchase cross-border goods and services online.

Bintang Capital Partners Berhad (Bintang) has announced its investment under its maiden fund, BCP Asia Fund I L.P (BCPAF I) into Singapore-based waste management firm Blue Planet Environmental Solutions Pte Ltd (Blue Planet) to support the continued growth of its sustainable waste management technologies and capabilities.

TerraPay, a United Kingdom-based global payments infrastructure company, has secured an in-principle approval for a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). With this coveted approval from MAS, TerraPay’s customers and leading global enterprises will be able to access its expansive network, across 120 receive…

The Monetary Authority of Singapore (MAS) has on Monday announced that it will commit up to SGD 150 million ($111.47 million) over three years under the renewed Financial Sector Technology and Innovation Scheme (FSTI 3.0). FSTI 3.0 seeks to accelerate and strengthen innovation by supporting projects that involve the use of cutting-edge technologies or with…

Carro, the Singapore-based online used car platform, has achieved best quarterly profitability since inception in the first quarter of FY2024. The firm has clocked its highest earnings before interest, taxes, depreciation, and amortization (EBITDA) of over $4 million for the month of June. It has also exceeded profitability targets for the first quarter of…

Singapore-based digital wealth platform Endowus has raised $35 million in its latest funding round. The firm said in a statement on Wednesday that new investors include Citi Ventures and MUFG Innovation Partners, as well as four of Asia’s wealthiest families with various operating businesses spanning banking to real estate across Singapore, Southeast Asia,…