FinTech

The operating entity, which is now formally known as KAF Digital Bank, seeks to deliver a robust and resilient banking infrastructure that underpins the trust and expectations from Malaysians.

Southeast Asia’s (SEA) Fintech ecosystem witnessed total funding of $1.6 billion in 2024, a 23 percent drop from $2.1 billion in 2023 and a significant 75 percent decrease from $6.3 billion in 2022, Tracxn said Monday.

Malaysia-listed tech firm Green Packet has secured a digital lending license from Malaysian government.

Skyee Pte. Ltd. has on Monday announced that it has been granted in-principle approval (IPA) for the major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).

Singapore-based digital wealth advisory platform Endowus has announced an additional raise of $17.5 million follows from their $35 million raise last year to take the total for this round to $52.5 million.

Vietnam and Laos have launched a framework for local currency settlement and cross-border QR code payment connectivity, the State Bank of Vietnam (SBV) and the Bank of the Lao P.D.R. (BOL) said on Friday.

Reap, a Hong Kong-based payment technology provider, announced Friday that it has received an in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) for its application of the major payment institution (MPI) license for its Singapore entity, Reap Singapore.

XTransfer, a China-based business to business (B2B) cross-border trade payment platform, was granted the major payment institution (MPI) license by the Monetary Authority of Singapore (MAS) to offer payment services in the country.

GCash has selected JPMorgan Chase & Co, Morgan Stanley and UBS Group AG to work on the potential share sale, the people reportedly said. Other banks that may also help to arrange a deal.

Maybank Investment Bank said Wednesday that robust fintech will support elevated growth of ASEAN internet firms in 2025.