Singapore

New research by global small business platform Xero revealed Thursday that Singapore’s younger generations of consumers are leading the shift to digital payments while more than half of small businesses in the country do not currently provide cash payment options.

Singapore-based cryptocurrency exchange company Crypto.com and the Union of European Football Associations (UEFA) announced Wednesday that Crypto.com will be the first and exclusive global cryptocurrency platform partner of the UEFA Champions League.

The Monetary Authority of Singapore (MAS), DBS, HSBC, OCBC, UOB, SPTel and SpeQtral have on Wednesday signed a Memorandum of Understanding (MoU) to embark on quantum security collaboration and study the application of Quantum Key Distribution (QKD) in financial services.

The Hong Kong Monetary Authority (HKMA) has on Tuesday announced the launch of “Generative Artificial Intelligence Sandbox” (GenAI Sandbox) in collaboration with digital community Cyberport, aiming at promoting digital transformation and innovation in the financial industry and establishing risk management mechanisms.

Singapore fintech firm Chocolate Finance announced Wednesday the launch of its spare cash management account. The firm redefines cash management with an enticing 4.2 percent per annum return on the first S$20,000 ($15,178) and a target of 3.5 percent per annum on subsequent amounts.

Syfe, a Singapore-based saving and investment platform, has on Wednesday announced that it has closed a $27 million funding round, increasing its valuation and bringing total funds raised to $79 million.

Singapore-based tech conglomerate Sea Limited has raised the outlook for its e-commerce arm Shopee amid strong e-commerce momentum.

Singaporean bank DBS has announced the pilot launch of DBS Treasury Tokens, a next-generation treasury and liquidity management solution, in collaboration with fintech firm Ant International.

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.

Antler, a Singapore-based early-stage venture capital firm, has on Tuesday announced the $72 million close of its second Southeast Asia fund, Antler SEA Fund II. The new Fund will continue investing in early-stage tech-enabled companies in Southeast Asia with pre-launch, pre-seed, and seed capital.