Singapore

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.

Singapore-based insurtech Igloo, in partnership with PVI Insurance, Vietnam Meteorological and Hydrological Administration (VNMHA) and international reinsurer SCOR, on Tuesday announced the launch of the country’s first weather index insurance - a blockchain-based parametric index insurance product that automates insurance claims of rice farmers.

Singaporean bank DBS has become one of the first banks globally to test the trading of foreign exchange (FX) and government securities using permissioned DeFi liquidity pools on public blockchain through Project Guardian.

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.

Circle Internet Financial, a global digital financial technology firm and the issuer of USD Coin (USDC) and Euro Coin (EUROC), has received in-principle approval as a major payments institution license holder from the Monetary Authority of Singapore (MAS).

Indonesia Stock Exchange (IDX) is exploring the possibility of working with MetaVerse Green Exchange (MVGX), a digital green exchange licensed and regulated by the Monetary Authority of Singapore (MAS), to develop Indonesia’s carbon exchange system.

Singapore tech company ADDX has tokenised a curated portfolio of French wines from top wineries in the Burgundy region, giving individual investors a chance to get exposure to fine wine investments at a fraction of the usual cost.

Thailand-based SCB 10X, the venture investment arm of SCBX group, announced Monday that it has invested $10 million in RakkaR Digital, a Singapore-based institutional-grade digital asset custody platform for institutions powered by Fireblocks.

The Monetary Authority of Singapore (MAS) on Monday released a report detailing potential uses of a purpose-bound digital Singapore dollar (SGD) and the supporting infrastructure required, marking the successful completion of Phase 1 of Project Orchid.