Endowus, an independent wealth advisor and investment platform in Asia, has launched its Income Enhanced Portfolio, available to professional and accredited investors in Hong Kong and Singapore. The portfolio is designed to provide diversified income solutions, drawing on a broader range of opportunities to manage risk and potentially enhance returns. As global interest rates begin to ease and yields on traditional income products decline, investors are seeking reliable income without excessive concentration risk. The Income Enhanced Portfolio offers two approaches: Conservative and Aggressive. The Income Enhanced Conservative strategy aims for reliable income with a focus on capital preservation. It combines an investment-grade fixed income core with additional return sources, including absolute-return fixed income funds, where returns are less dependent on market movements. Specialist manager selection also contributes to portfolio performance. Samuel Rhee, Chairman and Group Chief Investment Officer, said, Samuel Rhee “Income investing isn’t about chasing the highest yield. It’s about achieving better risk-adjusted outcomes while still meeting your income needs. With this strategy, we’ve taken a more intentional approach to manage risks more deliberately so investors can pursue yield with greater resilience through different market cycles.” The Income Enhanced Aggressive strategy targets higher potential income for investors willing to accept greater risk. It draws on a broader range of income sources, including frontier and emerging market bonds, as well as financial credit instruments. These markets are diversified within the portfolio, and experienced fund managers actively manage it to deliver a more resilient income stream. The portfolio balances return drivers across different market conditions instead of relying on a single asset class, providing a considered approach to income investing in a changing market environment.     Featured image credit: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Endowus Launches Income Enhanced Portfolio for Professional Investors appeared first on Fintech Singapore.

Singapore-based payment services provider MetaComp has raised US$22 million in a Pre-A funding round aimed at scaling its cross-border stablecoin payment infrastructure. The company announced the funding on 9 December 2025. It is regulated as a Major Payment Institution by the Monetary Authority of Singapore (MAS). Eastern Bell Capital, Noah, Sky9 Capital, Freshwave Fund, and Beingboom Capital participated in the funding round. According to the company, the funds will support the expansion of its StableX Network. This hybrid payment rail is designed to bridge traditional finance systems like SWIFT with stablecoin networks. MetaComp stated that the capital injection will facilitate its expansion across Southeast Asia, South Asia, and the Middle East. The company aims to boost its technological capabilities by enhancing the StableX Engine for liquidity management. Additionally, it will upgrade the VisionX risk-intelligence engine to strengthen compliance measures. Dr Bo Bai “Asia is entering a new stage of digital finance where settlement infrastructure must meet the standards of global trade,” said Dr. Bo Bai, Chairman and Co-Founder of MetaComp. “StableX and VisionX give enterprises the speed of stablecoins with the safeguards of regulated finance.” Tin Pei Ling, Co-President of MetaComp, noted that clarity in stablecoin regulations is encouraging enterprises to modernise settlement processes. Tin Pei Ling “Our volumes, now exceeding US$1 billion a month across more than 30 markets, show that businesses want real-time payments that combine speed with compliance. This funding allows us to scale StableX and VisionX across Southeast Asia and build the Web2.5 infrastructure that the region’s digital economy can depend on,” she said. Launched in May 2025, the StableX Engine accommodates more than 10 stablecoins, such as USDT and USDC. Ron Cao of Sky9 Capital pointed out that MetaComp occupies a strategic position to benefit as the stablecoin payment sector enters a phase of structural growth. Featured image: Edited by Fintech News Singapore based on an image by Sajawal via Freepik and Dr Bo Bai via LinkedIn. The post MetaComp Raises US$22 Million to Scale Stablecoin Payment Network appeared first on Fintech Singapore.

Universities have long operated beyond the boundaries of traditional classrooms. Their value lies in academic instruction while also acting as connectors, linking students, researchers, employers, and industry leaders in ways that accelerate learning and innovation. This symbiotic ecosystem matters as it exposes students to real-world expectations early, gives companies access to emerging talent, and allows research to be tested against practical industry needs. This was evident at the NTU FinTech Industry Day 2025, hosted by the School of Physical and Mathematical Sciences (SPMS) in November. The event brought together more than 450 participants and over 20 industry partners, supported by the Monetary Authority of Singapore (MAS) and the Singapore FinTech Association (SFA), creating a curated environment where ideas, expectations, and emerging trends converged. Emerging Trends and Shifting Talent Expectations Discussions throughout the event converged to deliver first-hand exposure on career pathways in digital finance, real-world fintech use cases, and hiring expectations and in-demand skills, all of which are reshaping how fintech works today. Industry leaders delivered insights on emerging technologies, industry shifts, and talent expectations in the digital finance field. Building on these observations, Professor Boh Wai Fong, NTU’s Vice President of Lifelong Learning and Alumni Engagement, highlighted the broader national context. Prof Boh Wai Fong She reiterated that Singapore’s Smart Financial Centre vision depends on developing a world-class talent pool equipped for emerging roles across AI, blockchain, and other technology-driven sectors. Citing the World Economic Forum, she emphasised that 39% of today’s skills will be outdated by 2030. She added that this shift will intensify demand for capabilities in areas such as regtech, compliance, blockchain and Web3, and cybersecurity. Kenneth Gay, Chief Fintech Officer at MAS, shared how the next decade of finance will be shaped by three forces: agentic AI, programmable money, and quantum-safe infrastructure in his industry keynote speech. Following the event, he shared on LinkedIn, Kenneth Gay “Singapore needs your curiosity, your boldness, and your commitment to innovation that creates trust. The world is watching what you’ll build next.” The conversations underscored what future professionals already foresaw: that fintech will need more than technical proficiency to truly come alive. Exclusive Real-World Exposure Through Industry Participation The exhibition grounds served as a lively ecosystem of ideas, with companies ranging from global financial institutions to emerging fintech innovators. Students engaged directly with teams from Fiuu, Huawei, Bank of Singapore, EY, GfK, Monee, Citadel, Murex, Quantedge, and GFI, as well as spotlight partners including FOMO Group, AXS, Marex Group, UOB Kay Hian, and Fintech News Network. These interactions gave students a clearer view of market expectations and provided clarity on career trajectories, helping them connect their academic training with the dynamic realities of the industry. For Jinsheng (Justin) Chong, an incoming MAS intern and undergraduate student from NTU SPMS, the keynote address by Kenneth Gay stood out as a defining moment of the day. In his LinkedIn post, Justin shared how the keynote covered AI’s transformation in the financial sector, from “behaviour-based fraud detection to Singlish-capable customer service models.” The subsequent panel discussion further shaped students’ understanding of what drives long-term career success. It featured Alvinder Singh, Head of Innovation, Acceleration Office at MAS; Holly Fang, President of the Singapore FinTech Association; Lim Keng Swee, Head of Product Management and Country Head at Fiuu; and Professor Boh Wai Fong. For Justin, this panel provided him with crucial takeaways, like how academic proficiency delivers a strong foundation, but success in the industry increasingly hinges on curiosity and motivation. He also noted the emphasis recruiters place on team contribution, observing that individuals who elevate team performance create the greatest impact. Jinsheng (Justin) Chong “As an incoming intern, I appreciated the chance to speak with MAS. I also enjoyed visiting the company booths, including Citadel. Grateful to the school for organising this for us students.” These insights and interactions left him and his peers feeling more confident and better prepared for their futures in the fintech sector. Alumni Reflections and the Strength of Community A standout moment of the NTU FinTech Industry Day 2025 was the return of NTU alumni who have since carved out notable careers across research, banking, technology, and fintech. Their reflections gave students a glimpse into what it would take to thrive in competitive fields, from deepening technical expertise to staying adaptable and in-the-know as industries evolve. Louis Liu, Founder and CEO of FOMO Pay, shared how his journey began at NTU, where he received the NTU Excellent Graduate Award in 2015 before going on to be included in Forbes 30 under 30 in 2018. Louis Liu Louis spoke about the opportunities and challenges ahead for the industry, touching on evolving regulatory frameworks for stablecoins and tokenised assets, as well as how global corporations such as Visa are beginning to adopt stablecoins at scale. Another such voice was Hazelle Lim, now a business analyst at Standard Chartered Bank. Hazelle completed her Bachelor’s in Communications with a second major in Business at NTU, and is now pursuing her MSc Fintech at NTU’s School of Physical and Mathematical Sciences. She is also a recipient of the SG100 Women in Tech Award 2025. Hazelle Lim Hazelle spoke openly about life after graduation and offered grounded advice on building a career, reminding students that their network is, quite literally, their net worth. Speakers like Hazelle reinforced the strength of the NTU community, showing students that there is no single path into fintech. Instead, success is built on continuous learning, resilience, and the willingness to grow alongside a dynamic industry. Strengthening Singapore’s Fintech Talent Pipeline The strong turnout, high-quality dialogue through industry spotlights, and multi-sector participation affirmed NTU’s position as a key contributor to Singapore’s fintech talent landscape. The event showcased the university’s commitment to equipping students with the analytical, quantitative, and technological competencies needed to thrive in a digital-first economy. But beyond the technical takeaways, the NTU FinTech Industry Day 2025 also highlighted something less tangible yet equally important: the power of a connected community working together to prepare future talent. In line with the themes discussed during the event, NTU offers a range of postgraduate fintech programmes in areas such as applied AI, analytics, and enterprise AI. These programmes represent some of the academic pathways available to individuals who want to deepen their capabilities in the fields discussed during the event. Featured image: Edited by Fintech News Singapore based on image by Nanyang Technological University Singapore The post NTU FinTech Industry Day 2025 Showcased What “Future Fintech Talent” Really Means appeared first on Fintech Singapore.

Bybit has announced a strategic partnership with an affiliate of Circle. The partnership will expand USDC access across Bybit’s global ecosystem and will strengthen liquidity in the stablecoin and support Bybit’s position as a regulated platform. Under the partnership, Bybit will enhance USDC liquidity across spot and derivatives markets. This aims to provide a more efficient trading environment for retail and institutional users. Both companies plan to introduce initiatives to increase the use of USDC across Bybit’s products. These include Bybit Earn for savings, Bybit Card for cashback rewards, and Bybit Pay for everyday transactions. Fiat on- and off-ramp solutions will also be expanded. This will leverage Circle’s infrastructure alongside Bybit’s global reach to facilitate deposits and withdrawals in key markets. Bybit was among the first companies to join the public testnet of Circle’s Arc network. Arc is a layer-1 blockchain designed for stablecoin-native finance. The testnet, launched in October 2025, has seen broad participation from financial and infrastructure stakeholders worldwide. Regulatory compliance remains a central focus for Bybit. The exchange recently obtained a full Virtual Asset Platform Operator License from the UAE’s Securities and Commodities Authority and has expanded regulatory oversight across the European Economic Area, Turkey, and other jurisdictions. USDC maintains full backing with liquid cash and cash-equivalent assets and redeems at a 1:1 ratio with the US dollar. Regulated financial institutions hold the reserves, and independent third parties provide monthly attestations. Ben Zhou, Co-founder and CEO of Bybit, said: Ben Zhou “Bybit’s partnership with Circle represents a major milestone in our mission to offer a fully compliant, liquid, and user-friendly ecosystem. From trading to payments to savings, we are integrating USDC to power the next phase of our platform’s growth and stability.” Jeremy Allaire, Chairman, Co-founder, and CEO of Circle, added: Jeremy Allaire “Together, Circle and Bybit are making it easier for users to access and use USDC with the confidence, transparency, and speed they expect.”       Featured image credit: Edited by Fintech News Singapore, based on image by jimjemrangga and smartmalik6384 via Freepik The post Bybit Partners with Circle to Expand USDC Access and Liquidity appeared first on Fintech Singapore.

The way we pay has changed more in the past five years than in the previous fifty. But as real-time payments become the global standard, the industry is entering a new phase. In this interview, Fintech News Network’s Vincent Fong sits down with Hasan Khan, Business Head for Cards & Unsecured Lending at Trust Bank, to unpack what The Next Chapter in Payments looks like. They discuss why the industry’s obsession with “speed” is shifting toward “strategic friction” to combat the $4 billion lost to scams in Singapore. Hasan also reveals how Trust Bank utilizes cloud-native infrastructure to achieve the world’s fastest onboarding journey and how they use gamification to make financial wellness engaging. Key Topics Discussed: The Next Chapter: Why real-time payments are now “table stakes” and safety is the new differentiator. The Fraud Crisis: With money moving faster than ever, Hasan explains why “strategic friction” is necessary to protect customers. Disrupting FX Fees: How a 0% foreign exchange strategy became a primary tool for customer engagement. Tech-Driven Scale: Inside the AWS and Euronet partnership that powers a net 3-minute onboarding journey. Gamification: Moving beyond boring charts to create “Budget Buddy,” a character-driven payment analysis tool. The post The Next Chapter in Payments: Safety, Experience & Speed | Hasan Khan (Trust Bank) appeared first on Fintech Singapore.

Granite Asia has completed the first close of its Pan-Asia private credit strategy, Libra Hybrid, raising more than US$350 million. The strategy, which targets US$500 million in total commitments, is anchored by Temasek through its private credit platform Aranda Principal Strategies, Khazanah Nasional Berhad, and the Indonesia Investment Authority (INA). It also drew capital from global institutional investors and sovereign wealth funds. Additional commitments came from Granite Asia’s general partners and the firm’s long-standing network of founders and entrepreneurs. The fund has deployed and committed around 30% of its available capital across six transactions. Several additional deals are in progress across a diversified pipeline. This move into private credit builds on Granite Asia’s 25-year track record in technology investment. Over that period, the firm has supported more than 500 companies and 63 global IPOs. The credit strategy focuses on performing credit opportunities across Asia. It provides structured, non-dilutive capital to profitable enterprises pursuing growth and business transformation. Ming Eng “We’re seeing strong demand for private credit from companies undergoing transformative growth, redesigning supply chains, expanding into new markets, or modernising through technology,” said Ming Eng, Managing Partner at Granite Asia, who leads the private credit strategy. “These businesses require not just financing solutions beyond traditional equity or debt, but a trusted partner with specialised expertise and a deep regional track record.”     Featured image credit: Edited by Fintech News Singapore, based on image by smartmalik6384 via Freepik The post Granite Asia Raises Over US$350M, Anchored by Temasek appeared first on Fintech Singapore.

Identity verification platform Trulioo has announced it is joining Google’s Agent Payments Protocol (AP2) initiative to support secure, agent-led payments across digital platforms. The collaboration aims to establish a framework for trust and accountability as AI agents increasingly handle transactions on behalf of users. Google launched AP2 to provide an open, standardised framework for digital payments that connects financial institutions, fintechs, and merchants. The protocol creates a common language designed to allow AI agents to initiate and complete transactions. Crucially, it maintains necessary transparency, authorisation, and compliance standards across different ecosystems. As part of the initiative, Trulioo will apply its identity verification infrastructure. The goal is to demonstrate the utility of a “Digital Agent Passport” (DAP). The DAP intends to introduce a verifiable trust layer within AP2. This mechanism works in tandem with the company’s “Know Your Agent” (KYA) framework. This mechanism is designed to ensure that digital agents are authenticated, authorised, and held accountable prior to executing any transaction. Vicky Bindra, CEO of Trulioo, commented on the necessity of establishing trust within autonomous commerce. Vicky Bindra “The future of commerce belongs to agents that can think, act and transact independently, but only if they can be trusted,” Bindra said. “By joining AP2, we’re helping define the identity backbone for autonomous payments, where verified agents transact transparently, responsibly and at machine speed”. This move deepens the existing relationship between the two companies, as Google currently leverages Trulioo’s Global Identity Platform for Know Your Customer (KYC) verification, fraud prevention, and abuse mitigation across its payments organisation. Featured image: Edited by Fintech News Singapore based on an image by rawpixel.com via Freepik. The post Trulioo Joins Google Agent Payments Protocol to Secure AI Transactions appeared first on Fintech Singapore.

PvX, a Singapore-based financial services platform for consumer applications, has announced it has surpassed US$250 million in committed user acquisition (UA) financing facilities. The platform has committed this capital to 20 mobile gaming and consumer app companies in its existing portfolio. The balance sheet for these financing commitments is provided by General Catalyst, an existing investor, through its Customer Value Fund (CVF). Alongside this milestone, PvX has raised a US$4.7 million seed extension led by Z Venture Capital, the corporate venture capital arm of LY Corporation. The round also saw participation from Drive by DraftKings and existing investors General Catalyst, Play Ventures, and Storyhouse Ventures. The firm will use the proceeds from the seed extension to build out its SaaS services, specifically its proprietary machine-learning platform, PvX Lambda. Lambda analyses industry trends and forecasts outcomes to support underwriting and capital allocation decisions. According to the company, this technology was central to evaluating the 20 companies eligible to access the new capital commitment. PvX operates using a “cohort financing” model, which provides non-dilutive funds for marketing. Unlike traditional venture capital, PvX does not take an equity stake in exchange for this financing. Instead, the capital functions as a revolving facility where companies draw funds over 12 to 24 months and repay the principal plus a fixed, capped percentage of the revenue generated from the deployed capital. Joe Wadakethalakal “Surpassing US$250 million in commitments alongside this new round underscores the demand we’re seeing for financing that is both flexible and tied directly to growth,” said PvX Co-Founder and CEO Joe Wadakethalakal. Daniel Song of Z Venture Capital pointed out that high acquisition costs and restrictive financing are significant hurdles for founders, praising PvX for using its combined gaming and financial expertise to help startups scale efficiently. Featured image: Edited by Fintech News Philippines based on an image by pvproductions via Freepik and PvX Partners. The post PvX Secures US$250M Financing Capacity and Raises US$4.7M Seed Extension appeared first on Fintech Singapore.

Airwallex has raised US$330 million in a Series G funding round led by Addition, with participation from T. Rowe Price, Activant, Lingotto, Robinhood Ventures, and TIAA Ventures. The round values the company at US$8 billion, a roughly 30% increase since its Series F six months ago. The funding will support growth in the US and other key markets, alongside expanded AI recruitment and product development. The company has established a second global headquarters in San Francisco and plans to invest over US$1 billion from 2026 to 2029 to scale US operations, attract talent, and extend its presence. Jack Zhang “We believe the future of global banking will be borderless, real-time, and intelligent,” said Jack Zhang, co-founder and CEO. “Legacy providers are fundamentally incompatible with how modern businesses operate. We’re building a modern alternative, a single platform that powers global banking, payments, billing, treasury, and spend on top of proprietary financial infrastructure. This capital will accelerate our growth, extend our technical leadership, and strengthen our position in the US and across key markets worldwide.” Airwallex reported annualised revenue of more than US$1 billion in October, up 90% year-on-year, and annualised transaction volume of over US$235 billion, doubling year-on-year. Around half of its customers use multiple products. The company holds 80 licenses worldwide, enabling operations in more than 200 countries. It expanded regulated operations in 12 new markets in 2025, including France, the Netherlands, Israel, Canada, Korea, Japan, New Zealand, Malaysia, Vietnam, Brazil, Mexico, and the UAE. The San Francisco office will house core product, engineering, partnerships, and go-to-market teams. The company plans to double its US headcount to over 400 employees within 12 months. Airwallex currently employs over 2,000 people globally. It expects to increase its workforce by more than 50% by the end of 2026. The company is developing AI agents to automate financial workflows across payments, treasury, and spend. The first, an Expense Submission Agent, collects receipts, matches transactions, categorises expenses, and completes submissions. A forthcoming Expense Policy Agent will verify submissions against company policies, reducing manual review and streamlining processes.     Featured image credit: Edited by Fintech News Singapore, based on image by fledermausstudio via Freepik The post Airwallex Secures $330M Series G, Eyes US Growth and AI Expansion appeared first on Fintech Singapore.

10x Banking, a cloud-native core banking platform, has partnered with audax, a digital banking technology provider supported by Standard Chartered, to help banks in Asia Pacific, Europe and the Middle East modernise their core systems and expand digital offerings. Research by 10x Banking indicates that 93% of APAC banking leaders consider the right platform critical to future success, yet two-thirds remain concerned about migration risk. In APAC, 67% of executives acknowledge they are falling behind in digital transformation, while only 8% prioritise core banking. Fintech in the region is expected to grow at over 21% CAGR through 2028, as QR payments, digital wallets, and cross-border transactions drive expansion. The partnership allows audax to deploy digital banking capabilities in as little as six months while banks use 10x Banking’s platform, adopted by institutions including Chase UK, Westpac and Old Mutual. Antony Jenkins, Founder and CEO of 10x Banking, said: Antony Jenkins “This partnership shows banks don’t need to choose between speed and resilience, they can have both. By combining 10x Banking’s modern core with audax’s digital agility, banks in high-growth regions can innovate at pace, minimise risk, and deliver lasting customer value.” Kelvin Tan, CEO of audax, added: Kelvin Tan “Traditional core banking projects take years and cost tens of millions. Our partnership with 10x Banking changes that equation entirely, banks can launch full digital services in as fast as six months for a fraction of the cost.” 10x Banking processes over a billion real-time transactions annually and maintains 99.99% uptime. It can also onboard 60,000 customers in a single day. audax has implemented digital banking solutions integrated with ecosystem platforms serving over 150 million users. The company is also leading Maybank Islamic’s digital transformation. Together, the firms help banks modernise infrastructure incrementally and reduce technical debt. They also support the introduction of new services such as Banking-as-a-Service, digital wallets, and super apps. The partnership ensures compliance across diverse regulatory environments.     Featured image credit: Edited by Fintech News Singapore, based on image by Borin via Freepik The post 10x Banking, audax Partner on Core Banking Modernisation appeared first on Fintech Singapore.

Vietnamese consumers are favoring digital channels and social commerce for their Tet shopping, leveraging e-commerce platforms, social media, and messaging apps, to discover products, gather information, and make purchases. This trend underscores the profound shift in consumer shopping habits fueled by the rise of the digital economy, according to a new consumer study by market research agency Decision Lab. Tet, Vietnam’s lunar new year, is the country’s biggest cultural and economic period in the year. While the holiday is traditionally centered on giving and togetherness, consumer behavior has evolved far beyond a mere pre-holiday shopping rush. Spending now stretches across an extended period, rising in the days leading up to Tet as consumers prepare for celebration and gifting, then rebounds strongly afterwards as they shift from rewarding others to rewarding themselves. This evolving spending pattern creates distinct opportunities for brands throughout the entire Tet season. The Decision Lab study, produced in collaboration with Meta, polled more than 800 consumers in Vietnam to understand their shopping habits and preferences during Tet season. It found that digital-first behaviors dominate the purchasing journey. For retail products in particular, social media and e-commerce platforms are the primary sources of product awareness, research, and purchase. Notably, a brand’s official page on e-commerce platforms like ShopeeMall and LazMall is the most used channel for product discovery (49%), product consideration and information gathering (54%), and final purchase (44%). Retail and health and beauty products discovery phase, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 Results vary for health and beauty (H&B) products. During discovery, 40% self-search for information online or contact sellers via messaging apps. During the consideration phase, 58% gather additional information by directly contacting the seller through messaging apps, or by searching for information on social media posts. For final purchase, shoppers typically complete the transaction directly with the seller through messaging apps like Facebook Messenger, or Zalo. Retail and health and beauty products consideration phase, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 The popularity of social media platforms and messaging apps across the discovery and consideration phase underscores the growing influence of digital ecosystems in shaping consumer decisions across the purchase journey. This influence is concentrated within a handful of channels. Among Tet shoppers, 27% said that Meta’s Family of Apps (FOA), comprising Facebook, Instagram, Messenger, and WhatsApp, was the only channel that they used to purchase a retail product most recently. For H&B products, this figure rises to 53%. Retail and health and beauty products purchase channels, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 Changing spending patterns and payment preferences Vietnamese consumer spending accelerates during the Tet season, with several key trends and shifts emerging over the past years. 2024 data from Visa reveal that international expenditure is growing twice as fast as domestic spending, an increase which is attributed to rising overseas travel and a strong growth in cross-border e-commerce. Vietnamese consumers are also growing more confident in online shopping, even for traditionally physical interaction-heavy categories like insurance, transport, and lodging. These areas were the top three categories for e-commerce transactions last year. Payment methods used are also changing. Between January and February 2024, 64% of Visa card transactions in Vietnam were contactless, reflecting growing acceptance of contactless payments. According to Visa’s Consumer Payment Attitudes 2023 study, at least 74% of Vietnamese consumers frequently use contactless payments, particularly mobile wallets, for food and dining, shopping, and convenience store purchases. An increasing number of consumers are also using their credit cards domestically. A separate study that more than half (55%) of the Vietnamese consumers polled preferred using their credit cards when shopping in Vietnam because of rewards, miles and cashback offers. Vietnamese consumers embrace AI The Decision Lab study also reveals rising consumer adoption of AI tools throughout the purchase journey. Of the consumers polled, 20% use AI to search for shopping information, and 18% to find locations, reflecting increased reliance of AI for information retrieval and real-time assistance. Furthermore, 13% use AI to track spending and budget planning, highlighting AI’s growing role as a real-time personal financial management tool. But AI adoption in Vietnam extends well beyond shopping. A separate study by Decision Lab shows that 78% of consumers have used at least one AI platform in the past three months, and 33% are now integrating AI into their daily routines. Vietnamese users mostly use AI for work and education purposes, entertainment, and daily routines. Top applications include getting updates and information (37%), learning new skills (34%), and translating content (33%).  When asked about their main motivations for using AI, consumers most often cites saving time (67%), simplifying learning (60%), boosting creativity (51%), and improving accuracy (48%). Though consumer AI usage in Vietnam is led by global leaders ChatGPT (81%), Gemini (51%) and Meta AI (36%), homegrown platform AI Hay ranks second in users satisfaction. This underscores the relevance of local AI solutions tailored to Vietnamese users’ needs and context. AI adoption in Vietnam by activity, Source: Unveiling Tet Consumer Trends, Decision Lab, 2025 Vietnam’s booming e-commerce market Total e-commerce transaction value in Southeast Asia reached US$100 billion in 2024. Vietnam accounted for US$25 billion of this, making it one of the fastest-growing e-commerce markets in the region and placing it among the top ten globally with over 60 million online shoppers, according to Lai Viet Anh, deputy director general of the Vietnam’s Department of E-commerce and Digital Economy. Growth continues into 2025, with sales across the country’s four major e-commerce platforms, namely Shopee, Lazada, Tiki, and TikTok Shop, rising nearly 42% year-over-year (YoY) in H1 2025 to reach VND 202.3 trillion (US$7.8 billion). Total sales volume also increased, growing 25.4% YoY to 1.9 billion products. Within this market, social commerce subset is expanding rapidly, with “shoppertainment” gaining particular momentum. This model blends video content with real-time shopping, making the shopping process more interactive and enjoyable, which in turn increase sales and customer loyalty. Among the Vietnam’s biggest e-commerce platforms, TikTok Shop, a leading shoppertainment channel in the country, led in growth with a 69% YoY surge in revenue. The platform also saw its market share increase from 29% to 39%, further underscoring the growing influence of shoppertainment.   Featured image: Edited by Fintech News Singapore, based on image by mohammadhridoy12 and ganzevayna1 via Freepik The post Vietnamese Consumers Turn to Digital Channels and Social Commerce for Tet Shopping appeared first on Fintech Singapore.

Payment Options, a Singapore-based payment solutions provider, is pleased to announce that it has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence under the Payment Services Act 2019. This milestone underscores Payment Options’ commitment to supporting Singapore’s small and medium-sized enterprises (SMEs) with simple, secure, and accessible digital payment solutions. If granted the licence, Payment Options will be authorised to provide three regulated payment services: Merchant Acquisition, Domestic Money Transfer, and Cross-Border Money Transfer. Through these services, the company aims to empower SMEs with a full suite of payment capabilities — from online payment gateways and QR code payments to the upcoming SoftPOS payments technology — enabling merchants to accept digital payments easily and securely. Aaron Yip “We remain deeply committed to supporting Singapore’s SMEs as they grow and compete in an increasingly digital-first economy. Our vision is to position digital payments as a growth enabler — not a challenge — for small businesses. Our goal is to make digital transactions seamless, secure, and accessible for every business, regardless of size.” said Aaron Yip, Director of Payment Options. Building on this vision, if the licence is granted, Payment Options will continue to work closely with local merchants, financial institutions, and technology partners to enhance payment accessibility and drive innovation across Singapore’s SME ecosystem. “We reaffirm our commitment to regulatory compliance and innovation, as we contribute to Singapore’s ongoing journey toward a secure, inclusive, and cash-lite economy.” The IPA granted by the MAS indicates that a licence may be issued upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. The IPA does not constitute a licence to provide payment services at this stage, and MAS reserves the right to rescind the approval if it deems appropriate.     Featured image: Edited by Fintech News Singapore, based on image by wtmn via Freepik The post Payment Options Secures In-Principle Approval from MAS for Payment Licence appeared first on Fintech Singapore.

Citi has appointed Minh Ngo as the new Citi Country Officer and Banking Head (CCOBH) for Vietnam, marking the first time a Vietnamese national has held the CCO post since the bank began operations in the country 32 years ago. In addition to her country leadership role, Ngo will assume the position of General Director of Citi’s Ho Chi Minh City branch. As the bank’s most senior representative in Vietnam, she will act as the primary representative of the franchise in the local market. According to the bank, Ngo will be responsible for leading Citi’s strategy across all client segments and product lines. Her remit includes direct accountability for the financial performance of the banking business. Beyond financial oversight, Ngo is tasked with leading regulatory engagement and overseeing legal entity governance. The bank also noted that she will drive the execution of Citi’s global transformation initiatives within the Vietnamese market. Citi has maintained a presence in Vietnam since 1993. Featured image: Edited by Fintech News Singapore based on an image by ilygraphic via Freepik. The post Citi Appoints Minh Ngo as First Vietnamese Country Officer appeared first on Fintech Singapore.

Coda has announced its new executive leadership team and board composition following the acquisition of Recharge, a European prepaid payments platform. The combined company will operate under the Coda brand, integrating capabilities across payments, consumer storefronts, and digital content distribution. The parent entity will consolidate operations under the Coda brand. Meanwhile, Recharge’s established consumer-facing brands (including Recharge.com, Startselect, and Giftcloud) will continue to operate within the global portfolio. According to the company, the move brings together B2B and B2C capabilities. The goal is to build a unified global infrastructure that streamlines how digital products are discovered and purchased. Shane Happach continues as Chief Executive Officer of the combined organisation. The new executive team includes former Recharge leaders, with Fabian Spaargaren appointed as EVP B2C and Martine Tiemersma joining as Chief Operating Officer. Rounding out the leadership team, Zac Liew joins as Chief Commercial Officer B2B, alongside Mike Feldkamp as Chief Technology Officer, Abhi Sharma as Chief Financial Officer, Linda Lee as SVP People, and Liz Adam as VP Corporate Affairs. In the boardroom, Michael Kent assumes the role of Chairman, transitioning from his previous chairmanship at Recharge. Günther Vogelpoel, the outgoing CEO of Recharge, will move to a non-executive director role at the end of the year. The board retains representatives from investors Apis Partners, GIC, Insight Partners, and Smash Capital. Shane Happach “Bringing our teams and capabilities together gives us a stronger foundation … We now operate with more scale, deeper expertise, and a shared focus on powering the future of digital commerce,” said Happach. Kent noted that the company now possesses the necessary leadership and unified infrastructure to define the direction of the digital commerce industry. Featured image by Coda. The post Coda Unveils New Leadership Team Following Recharge Acquisition appeared first on Fintech Singapore.

Adoption of AI is accelerating across Southeast Asia, with Singapore leading in overall adoption and Malaysia emerging as one of the region’s fastest-growing markets, according to a new study by Amazon Web Services. Much of this growth is being propelled by the startup community. The study, which polled 1,000 members of the public and 1,000 business in each of the 13 markets studied, found that while large enterprises remain the largest adopters of AI, startups are actually the true leaders in AI innovation, positioning Malaysia’s dynamic startup sector as a key engine of AI-driven competitiveness in the region. Despite this growth, the study also found that most businesses are still at an early stage of AI implementation, focusing on efficiency gains and automation rather than full operational transformation. The vast majority of organizations are still lacking a comprehensive AI strategy, with the skills gap identified as the biggest barrier to AI adoption, mirroring global trends. AI adoption higher in Singapore Singapore leads Southeast Asia in AI adoption, with nearly half (48%) of Singaporean businesses now leveraging AI, up from 40% last year. In comparison, 32% of businesses in Thailand have adopted AI, 28% in Indonesia, 27% in Malaysia, 21% in the Philippines, and 18% in Vietnam, showcasing Singapore’s leadership in AI adoption. In the past year alone, 27,000 businesses in the city-state began using AI, equivalent to over three every hour on average. This brings the total number of AI-adopting businesses from around 143,000 in 2024 to 170,000 in 2025. Singapore’s strong AI adoption is supported by high uptake of cloud technology, with 53% of businesses using the cloud. Cloud computing represents a foundational capability in digital transformation, enabling broader and faster scaling of AI. Singaporean businesses report larger gains Businesses in Singapore are also witnessing larger gains from their use of AI. Among AI adopters, 82% are reporting increased revenue, at an average increase of 19%, and 90% are seeing significant productivity improvements. These gains are significantly higher than those in Malaysia, where 65% of AI-adopting businesses are seeing an increase in revenue by also an average increase of 19%, and 72% reporting significant productivity improvements. This may be explained by differences in digital maturity, infrastructure quality, and how deeply AI is integrated into local businesses. Firms in Singapore typically have greater access to more advanced resources, enabling them to deploy AI across more strategic, high-impact areas beyond basic applications. As a result, Singapore businesses are now redirecting their focus toward strategic value creation and innovation-centric AI efforts. 52% are looking to use AI to enhance customer service and relationships, 46% to develop new products and services, and 42% are investing in employee training. Higher maturity and advanced sectors drive adoption Singapore also boasts the highest level of AI maturity in the region. 17% of Singaporean businesses have reached the most transformative stage of AI integration, where they are now leveraging the technology for advanced purposes, combining multiple AI tools for complex tasks, or developing custom AI systems for operational transformation. This compares with 10% in Malaysia, Indonesia and Thailand, 9% in Vietnam, and 8% in the Philippines, underscoring Singapore’s leadership in AI but also highlighting the widening gap in AI readiness across Southeast Asia. Within Singapore, the financial services industry leads AI adoption, reporting a 71% penetration rate, followed by IT and technology, including software developers, data analytics firms, cloud service providers, and digital startups at 70%, and healthcare at 63%. Looking ahead, optimism remains strong, with 85% of AI adopters expecting the technology to increase their growth in the next year, and 89% anticipating cost savings. Faster adoption in Malaysia Compared to Singapore, AI adoption in Malaysia is lagging, with 27% of businesses using AI in 2025, versus 48% in Singapore. However, Malaysia is experiencing faster growth in AI uptake. In 2024, 630,0002 new businesses implemented AI technologies, a pace of more than one new AI adoption every minute throughout the year. This brings the total number of AI-adopting businesses from 1.77 million in 2024 to 2.4 million in 2025, representing a 35% growth in overall AI adoption, and surpassing Singapore’s 20% growth rate. In Malaysia, startups are emerging as leaders in AI innovation. Almost half (48%) of startups are leveraging AI in some way throughout their business, 27% have AI at the core of their business proposition and operations, and 26% apply AI for its most advanced uses. This ambition is matched by optimism. 83% of domestic startups believe AI will transform their industry within the next five years, positioning Malaysia’s fast-moving startup sector as a key engine of AI innovation and competitiveness in the region. AI adoption surges but remains basic While AI adoption in Malaysia is rising, most organizations remain at an early stage of AI implementation. 73% of local businesses are still primarily focused on basic uses of AI and incremental gains, concentrating on operational efficiency and process streamlining rather than innovation. These businesses are mainly using publicly available chatbots for routine tasks such as scheduling assistants, and are purchasing ready-made AI solutions for data analysis, financial analysis or cybersecurity. Nevertheless, 17% of organizations in Malaysia have advanced to the intermediate stage of AI adoption. This stage involves integrating AI across various business functions and products for improved efficiency and enhanced customer experience with tools like embedded recommendation and personalized features. Finally, only 10% of Malaysian businesses have reached the most advanced stage of AI integration, where the technology is used for operational transformation and more complex tasks. Large enterprises represent great untapped opportunity In both Malaysia and Singapore, large enterprises are leading AI adoption but are not yet leveraging the technology’s most advanced applications. In Malaysia, 44% of large enterprises are using AI technologies, significantly greater than the national average of 27%. However, the vast majority (74%) are using them for incremental gains. Singapore is seeing a similar pattern where 62% of large enterprises have adopted AI, higher than the national average of 48%, but where 60% are still at a basic level of adoption. Furthermore, only a minority of large companies in Singapore (30%) and Malaysia (12%) have a comprehensive AI strategy outlining how their organization will leverage AI. This suggests that most large firms in the countries are still in the experimentation phase, deploying AI across a few use cases rather than embedding the technology across the value chain. This represents an untapped opportunity for AI providers and stakeholders. Skills gap as the biggest barrier to AI adoption Across Southeast Asia, skills gap remains the biggest barrier to AI adoption. 52% of businesses in Malaysia claim the shortage of digital and AI skills prevents them from adopting or expanding AI use. This challenge is more acute than in Singapore (43%) and in Thailand (47%), but less severe than in Indonesia (57%), the Philippines (57%), and Vietnam (55%). Amid ongoing talent shortages, Malaysian businesses say they would be willing to increase a salary offer by 34% for a candidate with strong AI skills. The skills most lacking skills in the Malaysian workforce today are adapting to new digital technologies (43%), data analysis and interpretation (39%), and the basics of AI and machine learning (32%). Malaysian businesses expect AI literacy to be important for 54% of jobs in the next three years and only 29% of businesses feel prepared with their current skillset. A fifth (22%) of employees have participated in digital training or upskilling in the past year. The AI talent shortage has become a pressing challenge for businesses worldwide. A recent survey by tech consultancy BearingPoint polled more than 1,000 C-suite executives and found that 92% of organizations are currently facing acute shortages of over 30% of AI-critical skills. While these shortages are expected to ease, nearly half of leaders still anticipate significant gaps of 20-40% in critical roles by 2028.   Featured image: Edited by Fintech News Singapore, based on images by leonunes and leonunes via Freepik The post AI Adoption Surges in Southeast Asia; Singapore Leads But Malaysia Shows Faster Growth appeared first on Fintech Singapore.

Asian consumers are increasingly open to using artificial intelligence (AI) in customer service to achieve faster, more accurate, and more consistent support, according to a new study by Genesys Cloud Services. At the same time, they continue to value and request human interaction, indicating that empathy and emotional intelligence remain essential to positive customer experiences (CX). The survey, which polled 1,400 consumers across seven Asian markets in October, found that AI usage is high in Asia, with most consumers having already used the technology. According all markets surveyed, more than 70% of respondents had used a chatbot or a virtual assistant for customer support in the past 12 months, showcasing that AI-driven support is now a familiar part of the CX. Adoption was highest Indonesia, the Philippines, and Malaysia where more than 80% of respondents reported using AI-based support over the past year. Have you interacted with a chatbot or virtual assistant for customer support in the past 12 months, Source: The future of customer experience in Asia 2025, Genesys and Twimbit, Nov 2025 Mixed sentiment Despite this high adoption rate, customer sentiment toward chatbots is mixed. While many find AI somewhat helpful, inconsistent issue resolution persists and overall customer sentiment remains largely neutral. Low positive sentiment was the most notable in Hong Kong and Taiwan, suggesting higher user expectations or more complex service needs. This reinforces the importance of language and tone adaptation to local expectations as users respond more positively to AI that communicates in a natural, human-like way. By contrast, consumers in Indonesia and Thailand reported the highest levels of satisfaction with AI interactions, likely due to stronger localization and simpler, more well-defined use cases. Other regions showed a neutral majority, reflecting willingness to engage but limited confidence in AI reliability. What was your experience with AI-based customer support tools, like generative AI chatbots or AI voice agents, Source: The future of customer experience in Asia 2025, Genesys and Twimbit, Nov 2025 Overall, the majority of consumers across Asia reported feeling frustrated with their experiences with chatbots, with 75% of consumers saying that chatbots failing to understand their issues is one of the biggest gaps in current support systems. This suggests that current chatbot technologies are failing to meet user expectations for accurate, context-aware support. A further 59% expressed frustration with reporting the same information, while 17% deplored a lack of personalization in service. AI viewed as an enhancer rather than a replacement for human agents Although Asian consumers are increasingly comfortable using AI, they expect the technology to improve speed, accuracy and consistency rather than replace human agents altogether. AI is largely viewed as a powerful tool for handling repetitive tasks and improving efficiency, but most consumers are not yet ready to rely on AI-only interactions. Only 24% of respondents said they were comfortable with fully digital AI agents on chat and voice. The majority expressed a preference for either human agents, or at least hybrid model combining AI and human involvement. Would you be happy with service delivered by AI gents, either on chat or voice, Source: The future of customer experience in Asia 2025, Genesys and Twimbit, Nov 2025 Regionally, Taiwan, Singapore, and the Philippines showed the strongest preference for hybrid interactions. Indonesia and Thailand, meanwhile, are increasingly open to fully digital agents. Finally, in Hong Kong and Malaysia, consumers are favoring a more cautious optimism approach combining human and AI integrations. When you need support or have a question, which of the following best describes how you prefer to get help? Source: The future of customer experience in Asia 2025, Genesys and Twimbit, Nov 2025 This preference for human-centered support is echoed in the finding that 75% of respondents ranked empathy and human connection as the second most important factor in customer service interactions. Poor customer service and lack of empathy were cited by 68% of customers as the leading reasons for abandoning a brand, further underscoring the direct link between emotional intelligence and customer retention. Which of the following experiences have caused you to stop using a brand, Source: The future of customer experience in Asia 2025, Genesys and Twimbit, Nov 2025 Speed and resolution as top priorities Across Asia, consumers are prioritizing fast response and resolution, along with clear communication and helpful service. Speed and resolution ranked as the top customer expectation, cited by 80% of respondents. This suggests that efficiency is the dominant factor in positive CX. What matters most to Asian customers when interacting with a brand’s customer service, Source: The future of customer experience in Asia 2025, Genesys and Twimbit, Nov 2025 A separate survey of 120 CX leaders in Asia found that 46% of leaders acknowledge that response time is where they are failing short, citing it as their top performance gap. Response time is a particularly significant pain point for CX leaders in the Philippines and Taiwan, where 75% of 60% of respondents, respectively, reported the longest delays. In contrast, only 10% of CX leaders in Hong Kong enterprises identified response time as a major shortcoming. In which areas do you believe your organization is falling short of customer expectations, Source: The future of customer experience in Asia 2025, Genesys and Twimbit, Nov 2025 AI adoption in Asia surges Adoption of AI has surged in Asia among consumers but also businesses. A July 2025 survey by Boston Consulting Group (BCG) polled more than 4,500 employees across nine Asia-Pacific (APAC) markets and found that 78% of APAC respondents now use AI at least weekly. The figure makes APAC one of the biggest adopters of AI, and surpasses the worldwide adoption rate of 72%. Emerging APAC economies such as India, Indonesia, and China are leading the way, with adoption rates of 92%, 89%, and 87%. This trend reflects a young, ambitious workforce eager to embrace AI as a growth enabler. In contrast, Japan stands out among APAC countries for its relatively low adoption rate, at 51%. Share of respondents who use AI at least several times a week (%), Source: AI at Work, Boston Consulting Group, Oct 2025   Featured image: Edited by Fintech News Singapore, based on images by ezps and hamzaazeem1387 via Freepik The post Asian Consumers Embrace AI, but Still Value Human Interactions appeared first on Fintech Singapore.

Embed Financial Group Cayman Holdings (EFGH), a Singapore-headquartered Finternet infrastructure firm operating across emerging markets in Africa and Asia, today announced that it has entered into a definitive Business Combination Agreement (BCA) with WinVest, a publicly listed special purpose acquisition company. The proposed transaction values EFGH at a pro forma enterprise value of approximately US$425 million. Upon completion of the business combination, WinVest Holdings, a newly formed Cayman Islands holding entity that is expected to be renamed Embed Financial Global Holdings (Pubco), will become the parent company of the combined organisation. EFGH develops digital infrastructure for the emerging “Finternet”, enabling embedded financial services including insurance, remittances, credit and digital wallets for underserved consumers and SMEs. The Company designs and deploys platforms that link government agencies, telecommunications operators, financial institutions and SMEs to more efficient and accessible financial rails. Since its establishment in 2024, EFGH has expanded into eight African and four Asian markets, supported by collaborations with government bodies and enterprise partners. Dennis Ng “We are excited to mark this major milestone for EFGH,” said Dennis Ng, Founder, Executive Chairman and Group Chief Executive Officer of EFGH. “A Nasdaq listing will accelerate our mission to build the Finternet for underserved consumers and SMEs across Africa and Asia.” Manish Jhunjhunwala, Chief Executive Officer of WinVest, added: Manish Jhunjhunwala “EFGH’s work to broaden access to the Finternet is inspiring and aligns with our mission. We’re delighted to partner with them on this transaction.”       Featured image credit: Edited by Fintech News Singapore, based on image by wahyu_t via Freepik The post Embed Financial Group to Combine with WinVest in $425M Deal appeared first on Fintech Singapore.

Nexus Venture Partners (Nexus), a Silicon Valley venture capital firm investing in early-stage startups in the US and India, has closed Nexus Ventures VIII, a US$700 million fund focused on AI, enterprise software, consumer and fintech companies at the inception, seed and Series A stages. The fund includes long-standing limited partners who have supported the firm since its early years. Founded by entrepreneurs and engineers with technical and operating experience, Nexus has built a two-decade track record as an early-stage investor. The firm has backed more than 130 companies and recorded over 30 exits, including several IPOs. Its portfolio spans AI infrastructure, developer platforms, open-source technologies, AI agents, consumer businesses and fintech. In a statement, Nexus partners said: “From infrastructure to applications, every layer of the tech stack is getting rewritten by AI. Agentic AI is transforming how work gets done, bringing a whole new wave of augmentation and automation across industries.” They added: “Over the years, we have had the pleasure of backing several founders from the early days of their journeys, who have gone on to take their companies public or are poised to do so soon. With Fund VIII, we’re doubling down on visionary entrepreneurs solving the hardest problems and shaping the next wave of global innovation.” Nexus invests across the Bay Area and India, two of the world’s largest startup ecosystems, supported by its network and operational experience in both markets. The firm says this approach positions it to support founders building companies across these geographies.     Featured image credit: Edited by Fintech News Singapore, based on image by freepik The post Nexus Venture Closes US$700 Million Early-Stage Fund appeared first on Fintech Singapore.

Ho Chi Minh City (HCMC) is preparing to put its international financial center (IFC) into operation, with organizational and staffing arrangements largely finalized, Saigon Giai Phong, a Vietnamese Communist Party newspaper, reported on November 22, 2025, citing HCMC People’s Committee Chairman Nguyen Van Duoc. The IFC will be located in Saigon Ward, Ben Thanh Ward, and the Thu Thiem Urban Area in An Khanh Ward, covering a total area of nearly 900 hectares. It will be equipped with high-speed Internet network covering the entire IFC venue, while the municipal Department of Science and Technology currently building an online information portal for the hub. Associate Professor Dr. Nguyen Huu Huan, a member of the IFC consulting team, said that the city is working with leading global and Vietnamese technology corporations to prepare infrastructure for the IFC. It’s partnered with the US Nasdaq Stock Exchange on governance, capacity building, cross-listing, and product development. Nasdaq is providing technology and technical services for the development and operation of the IFC, in addition to training Vietnamese professionals in securities, bonds, derivatives, digital assets, and carbon credit markets. The two sides have also committed to exchange best practices and experiences in the development of legal frameworks, operating mechanisms, risk management, product development, and international investment attraction, and will focus on strengthening businesses connections between Vietnamese, US, and global financial communities. HCMC is also working with the New York Institute of Finance to implement practical financial and investment training programs following international standards. HCMC’s IFC is expected to completed within five years, with preliminary total investment for the project estimated at around VND 172,000 billion (US$7 billion). Speeding up IFC initiatives News of HCMC’s progress follows an official telegram issued earlier in November by Vietnam’s Prime Minister Pham Minh Chinh, which urged relevant authorities to accelerate efforts to launch IFCs. These authorities include the Ministers of Finance, Public Security, Industry and Trade, Agriculture and Environment, Home Affairs, Justice, the Governor of the State Bank of Vietnam, and the Chairmen of the People’s Committees of HCMC and Da Nang. The Prime Minister called for establishing a Government Steering Committee to oversee the development of these IFCs, and instructed HCMC and Da Nang to cooperate with relevant agencies to promptly issue preferential policies and create favorable working and living conditions for international investors, covering healthcare, insurance, education, culture, and sports. They were also urged to nominate personnel for review by the Ministry of Finance. The government wants to launch its two IFCs in HCMC and Da Nang, a coastal city in central Vietnam, by the end of the year. Da Nang IFC to focus on fintech, green finance In Da Nang, Chairman of the city People’s Committee Pham Duc An said in October that the city was still working on establishing its IFC, focusing especially on formulating policies, upgrading infrastructure, building data centers, improving airport and seaport facilities, establishing free trade zones, training human resources in international finance, and piloting different management models. Da Nang’s IFC is intended to serve as a “laboratory” for new financial models, particularly in green finance, trade finance, and fintech. It strives to boost fund management activities to support fintech startups, and will promote green finance products and initiatives to support Vietnam’s net-zero goals and global sustainability vision. The center also seeks to develop cross-border trade finance linked to its seaports, logistics, and international tourism, along with offshore financial services for organizations, foreign-invested enterprises, and global investors. Finally, it will focus on fostering a favorable financial environment for small and medium-sized enterprises (SMEs) and innovative startups, working with ministries and agencies to develop a conducive regulatory landscape. Da Nang established the Advisory Council for the Development of Vietnam’s IFC in August 2025, consisting of 17 stakeholders, Theinvestor.vn reported. The council is responsible for research and policy advice on development strategy, governance model, incentives for the center, training programs, and policies to attract global experts and overseas Vietnamese professionals. Da Nang has partnered with a number of stakeholders to reach its objectives, including Vietcombank, Saigon Securities (SSI), VNPay, Frankfurt Main Finance, Tether, Apex Group, ARK Global, the Global Green Growth Institute, the Swiss Fintech Association, and the Vietnam Young Entrepreneurs Association in Europe. These partnerships aims to help attract investors to the Da Nang IFC, promote joint outreach in international markets, connect the center with global capital markets, produce guidance materials, and develop regulatory frameworks for emerging technologies. Da Nang is targeting double-digit economic expansion for the year. To date, the city has attracted 1,282 foreign direct investment (FDI) projects with total registered capital of over US$10.96 billion. Vietnam’s IFC ambitions Vietnam’s National Assembly passed on June 27, 2025, a resolution on the development of IFCs in Vietnam. Effective from September 01, the resolution draws heavily on global models and outlines the development of IFCs located both in HCMC and Da Nang, with a unified regulatory framework but tailored products based on each city’s strengths. These IFCs aim to serve as hubs that connect markets, foster innovation, and improve governance and transparency while attracting investment and deepening global integration. They strive to create new momentum for socio-economic development, enable economic growth of at least 8% in 2025 and a double-digit expansion from 2026 onward, and help Vietnam achieve its long-term goal of becoming a modern, high-income nation. HCMC will focus on capital markets, banking, currencies, financial innovation sandboxes, and advanced trading platforms, serving as the nation’s main liquidity center. Meanwhile, Da Nang will focus on green finance, fintech, digital services, controlled testing of digital assets and currencies, and attracting investment and remittance funds, leveraging its strengths in logistics, tourism, coastal industries, and the East-West Economic Corridor. Within these IFCs, priority sectors will enjoy a preferential corporate income tax rate of 10% for 30 years, with a maximum corporate tax exemption of four years, as well as a 50% reduction on payable tax in the following nine years. Other projects will benefit from a 15% rate for 15 years, two years of tax exemption, and a 50% reduction for the next four years. Foreigners working in the center will be exempt from personal income tax until the end of 2030. By 2035, Vietnam aims of its IFCs to rank among the top 75 financial centers in the world and among the top 20 by 2045.   Featured image: Edited by Fintech News Singapore, based on images by Peter Nguyen and Anh Nguyen via Unsplash, and rachenzero via Freepik The post Ho Chi Minh City Readies International Financial Center; Da Nang Targets Green Finance, Fintech appeared first on Fintech Singapore.

Singapore’s fintech scene never really has a slow season, but 2025 has been unusually packed. Some stories shook consumer confidence, others sparked long debates about trust and regulation, and a few reminded the region that Singapore is still pushing big ideas on the global stage. Here’s a look at five of the biggest stories that shaped the conversation this year, in no particular order. Tokenize Xchange Collapses And Leaves A S$266 Million Hole The year began with a jolt when Tokenize Xchange, once a familiar name among local crypto users, collapsed and left more than S$266 million owed to customers. Over 2,200 users filed claims, and many more continued surfacing as details came out. The company had been running under a temporary exemption while waiting for a licence under the Payment Services Act. When MAS rejected the application, everything unraveled at once. Withdrawals were delayed, client assets were suspected to be mishandled, and the firm’s director found himself facing charges. The situation didn’t just hit Tokenize users. It reopened the broader conversation about whether temporary exemptions still make sense in a market where consumer protection is becoming non-negotiable. Reality quickly shattered the illusion that ‘grey areas’ offered safety. Now, news are swirling that its users are sueing the founder and his wife, over S$60 Million for alleged losses. And as if one headline about trust wasn’t enough, the country then found itself dealing with a very different kind of crisis. Singapore’s New Transfer Safeguard Sparks a Nationwide Debate The news above confirms that scams have been getting more convincing, so banks stepped in with a safeguard that slows down large digital transfers. From 15 October, anyone with at least S$50,000 in their account will have a transfer paused if it moves more than half the balance in a day. The idea is to give people a moment to think before acting under pressure, especially since most scam cases happen through digital channels. What sounded simple quickly turned into one of the biggest debates of the year. Reddit users worried about missed property deadlines, stalled investment moves and frozen business payments. Some felt the rule was too blunt, especially when transfers between one’s own accounts were treated the same as transfers to strangers. In industry circles, the view was different. Regulators and banking leaders reminded the public that the safeguard is there to protect people during moments of stress, not to make banking more convenient. Under the Shared Responsibility Framework, banks must step in if something looks off, even if it means slowing everyone down a little. It ultimately became a question about how people think digital banking should work. Some want full speed and no friction, while others are willing to trade a bit of convenience for peace of mind. Either way, the debate showed that Singaporeans care deeply about how their money moves and how the system evolves. Chocolate Finance’s Turbulent Month Becomes a Test of Trust While Singapore was arguing about transfer rules, Chocolate Finance ended up facing its own pressure test. The company paused instant withdrawals after a wave of customers rushed to cash out. It all started when Chocolate removed AXS payments from its debit card, a feature that had become popular thanks to a generous two-miles-per-dollar partnership. Taking it away sparked immediate confusion and left people anxious. Withdrawals suddenly took days instead of minutes. MAS stepped in to ensure everything was handled properly and assured the public that customer funds were safe and held by independent custodians. Over the next week, Chocolate cleared most of the backlog, raised spending caps again and slowly returned to normal operations. The firm explained that the pause wasn’t a liquidity problem but a spike in transaction volume that overwhelmed their systems. Walter de Oude took responsibility for the communication gaps and acknowledged how quickly trust can be shaken in financial services. The episode became a reminder of how sensitive customer confidence can be. Even a well-regulated fintech can stumble when rewards, user behaviour and product limits collide. For customers, it was a lesson in patience. For the industry, it reinforced the idea that bold ideas still need steady foundations. Singapore Forms SPaN to Strengthen National Payment Governance Singapore also had a story that pointed in a different direction, you know, after these news about scams, safeguards and service disruptions. It is taking a step to tidy up its payments landscape with the launch of SPaN, the Singapore Payments Network. It is a new hub designed to oversee the country’s national payment schemes, make governance smoother, and give innovation a bit more room to breathe. SPaN is a not-for-profit company, backed by the Monetary Authority of Singapore (MAS) and the country’s major banks, including Singapore’s Domestic Systemically Important Banks (D-SIBs). The idea is simple. It is going to get all the key players together, make sure the rules are clear, and create a framework where both national and cross-border payment schemes can operate efficiently and safely. A board of directors is already in place to guide SPaN through its early stages, aiming for full operational readiness by the end of 2026. The 11-member board includes representatives from MAS, both bank and non-bank financial institutions, and four independent industry directors. Beyond just setting the rules, SPaN will personally handle who gets to join the national payment grid, ensuring every player sits under the same roof. The payment schemes moving under SPaN’s watch include familiar names like FAST, PayNow, Inter-bank GIRO, the Singapore Dollar and US Dollar Cheque Clearing Systems, eGIRO, Electronic Deferred Payment, and the Singapore Quick Response Code. It’s a comprehensive list that touches nearly every corner of Singapore’s payment ecosystem. Nexus Global Payments Officially Launches In Singapore Singapore also had a story that pointed in a different direction, you know, after these news about scams, safeguards and service disruptions. While the city was tightening its defences, it also became the home base for one of the region’s most ambitious payment infrastructure projects. Nexus Global Payments, built by the central banks of Singapore, Malaysia, Thailand, India and the Philippines, officially moved into its operational phase. The idea behind Nexus is refreshingly straightforward. Instead of every country trying to link up one by one, Nexus provides a single connector that joins domestic instant payment systems together. Connect once and gain access to multiple markets. It is still early, but the potential is significant. With Singapore hosting the managing entity and the European Central Bank observing the rollout, Nexus could shape how Asia handles cross-border payments over the next decade. It also stood out because it wasn’t the usual crisis-management headline. At a time when scams and service hiccups grabbed the public’s attention, this was the rare story that showed the region still moving forward with long-term infrastructure. It reminded everyone that even in a noisy year, Singapore’s fintech ambitions didn’t slow down. Wrapping Up Singapore’s Fintech Rollercoaster Year Seen together, these stories show how much the fintech landscape shifted this year. Tokenize Xchange’s collapse forced a rethink of trust and regulation. The surge in scams made Singaporeans more aware of how easily authority can be imitated. Banks introduced stronger guardrails to protect customers, which sparked a national debate about how much friction people are willing to accept. Chocolate Finance’s withdrawal pause added another lesson on how sensitive user confidence can be in digital finance. And through all of this, Singapore still pushed ahead with Nexus, a project that could redefine regional payments for years to come. It has been a year of adjustment and accountability, but also one of progress. Singapore’s fintech sector is not just responding to challenges as they arise. It is still building for the future, even when the present feels chaotic. Featured image: Edited by Fintech News Singapore based on images by kongchuenjit and pranavkr via Freepik. The post A Look Back at the Moves and Missteps Driving Singapore Fintech in 2025 appeared first on Fintech Singapore.