FinTech
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…
Ant Group Digital Technologies says its international business operation increases 300% in the past year
Ant Group Digital Technologies announced that its revenue from its international business operation has increased by 300 percent in the past year, with key markets including Malaysia, Indonesia, the Philippines and other emerging economies.
MAS, Temasek Trust collaborate to accelerate growth of FinTech and impact ecosystem
Monetary Authority of Singapore (MAS) and Temasek Trust have collaborated to accelerate growth of FinTech and impact ecosystem. Temasek Trust has signed a letter of intent (LOI) with the MAS to explore a common FinTech and impact investment roadmap, and an interoperable technology framework to facilitate cross-platform collaborations between open…
Singapore’s Wind.App raises $3.8M funding from Global Founders Capital, Spartan Group
Singapore fintech firm Wind.App has announced a successful $3.8 million pre-seed funding round. The round was co-led by Global Founders Capital and Spartan Group, and saw participation from prominent investors, including Saison Capital, Alumni Ventures and Tiny VC.
Malaysia’s SME Corp allocates $1.27M to Bumiputera youth entrepreneurs
SME Corporation Malaysia (SME Corp. Malaysia), an agency under the Ministry of Entrepreneur and Cooperatives Development (MECD) and Funding Societies, an unified SME digital finance platform in Malaysia and Southeast Asia, have allocated an initial fund of MYR 6 million ($1.27 milion) for Bumiputera youth entrepreneurs.
Grab-backed GXBank unveils beta bank app
GX Bank Berhad (GXBank), the Grab-backed Malaysian digital bank, is officially rolling out its beta app to selected 20,000 Malaysians users effective November 14, 2023. This comes after successfully testing the beta app amongst employees of the bank and partners.
The trifecta effect: Fostering consequential conversations at the intersection of policy, technology, and finance
To drive the global fintech industry in the #Web3 era, there is a pressing need to foster a more timely and synergistic dialogue between policymakers, technologists, and financial service experts — three industry stakeholders that have historically operated in siloes. For instance, in Southeast Asia, less than half of industry leaders believe regulators…
The promising and challenging terrain of embedded finance in Southeast Asia
In the rapidly evolving world of financial technology, few themes resonate as powerfully as embedded finance. It stands as a beacon that enables truly seamless and frictionless financial services for diverse industries, from #ecommerce and marketplaces to #remittance providers and smaller and medium-sized banks. Enterprises across these sectors are well…
AIZEN Global and Grab forge partnership in mobility finance
AIZEN Global, a South Korea-based artificial intelligence (AI)-powered financial services, has announced a strategic partnership agreement with Grab, Southeast Asia's leading super app. This dynamic collaboration is set to revolutionize the emerging realm of e-mobility finance, aligning with Grab's ambitious plans to introduce approximately 50,000 electric…
Grab delivers first adjusted profitable quarter as topline continues to grow
Southeast Asia superapp Grab said Thursday it has delivered the first adjusted earnings before interest, taxes, depreciation (EBITDA) profitable quarter as topline continues to grow. The group's adjusted EBITDA turned positive for the first time at $29 million for the third quarter, an improvement of $190 million compared to adjusted losses before interest,…
