Singapore
MAS lays foundation for safe and innovative use of digital money in Singapore
The Monetary Authority of Singapore (MAS) on Thursday unveiled three initiatives to ensure the safe and innovative use of digital money in Singapore, namely a blueprint outlining the infrastructure required for a digital Singapore dollar; expanding digital money trials; and a plan to issue a “live” central bank digital currency (CBDC) for wholesale…
Deloitte: Southeast Asia raises about $5.5 billion year to date, the lowest in eight years
Southeast Asia has raised approximately $5.5 billion via initial public offering (IPO) in the first 10.5 months of 2023, the lowest in eight years, Deloitte said Thursday. The total IPO raised down from $7.6 billion in 2022. Meanwhile, the IPO amount for the first 10.5 months of 2023 stands at 153, also down from 163 in the full year of 2022.
HSBC-backed Bizbaz announces strategic partnership with RCBC Bank
Singapore-based credit scoring and risk models assessment solution Bizbaz has announced a strategic partnership with Philippine retail bank Rizal Commercial Banking Corporation (RCBC Bank) to integrate AI-driven credit scoring to expand lending and increase financial inclusion.
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.
Antler strengthens team with key hires to drive strategic investments in Southeast Asia
Antler, a Singapore-based global early-stage venture capital firm, has announced a trio of significant appointments - Shao-Ning Huang and Lorenzo Peracchione as Venture Partners, and Tudor Coman as Investment Director.
MAS partners industry to develop generative AI risk framework for the financial sector
The Monetary Authority of Singapore (MAS) has on Wednesday announced the successful conclusion of phase one of Project MindForge1 which seeks to develop a risk framework for the use of Generative Artificial Intelligence (GenAI) for the financial sector.
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…
Singapore’s BeeX raises $2M in funding led by Earth Venture Capital, ShipsFocus Ventures
BeeX, a Singapore-based firm in providing autonomous robotics solutions to safeguard underwater infrastructures, has recently closed its $2 million bridge round with oversubscribed. The latest round is co-led by Earth Venture Capital and ShipsFocus Ventures with the participation of SEEDS Capital, NUS Technology Holdings, and Infinita VC.
HSBC partners Antler to support the growth of the next generation of entrepreneurs and startups in Singapore
HSBC Singapore has on Wednesday announced at a partnership with Antler, an active early-stage venture capital (VC) firm, to facilitate the growth of Southeast Asian innovation companies and entrepreneurs based in Singapore. This collaboration aims to provide startups and founders that are a part of Antler’s network access to financial expertise and banking…
Sea Limited posts unexpected net loss of $144M in third quarter despite revenue rises
Singapore-based tech conglomerate Sea Limited has posted a total net loss of $144 million in the third quarter, as compared to total net loss of $569.3 million for the third quarter of 2022. The year-on-year improvement of losses was mainly due to higher interest income in the third quarter of 2023.
