FinTech

Adyen, the global fintech firm, announced Thursday its expansion in India. This is following the grant of authorization from the Reserve Bank of India to operate as an online payment aggregator in India for domestic and cross-border payments.

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 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.

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.

Philippine Central Bank Bangko Sentral ng Pilipinas (BSP) has approved the lifting of the moratorium on the grant of new digital banking licenses starting January 1, 2025 and allowed a maximum of ten digital banks to operate in the country.

Decentralized finance (DeFi) has experienced significant growth in 2024, with total value locked (TVL) more than doubling its value since the previous year. According to CoinGecko, the DeFi ecosystem boasts over $91.76 billion in locked assets as of June 2024, demonstrating a shift in market sentiment toward increased trust and adoption. Among the…

Trading platform Moomoo Securities Malaysia Sdn. Bhd. (Moomoo Malaysia) has on Wednesday announced it is enhancing global market access for Malaysian investors with Singapore Exchange (SGX) trading.

Singapore fintech deal activity rises amid declining investments in the first half of 2024, KPMG said Tuesday. The country's fintech deal count rose by 19 percent to 117 deals in the first half of 2024 from 98 deals in the second half of 2023, but total deal volume fell 34 percent to $522.89 million from $790.10 million amid economic uncertainties.