Statrys, a fintech offering business accounts for SMEs, is waiving foreign exchange (FX) fees for a limited period to mark International Women’s Day. From 8 March to 8 April 2026, Statrys will offer 0% FX fees for one month to eligible Singapore businesses opening a Statrys Singapore Business Account. These companies must have at least one female shareholder or director to qualify. The initiative applies to Statrys Singapore Business Accounts for companies incorporated in Singapore, Hong Kong, or the British Virgin Islands that meet the eligibility criteria. Statrys said the campaign aims to extend International Women’s Day into a month-long initiative recognising women in business. Cross-border payments are a routine part of operations for many businesses, particularly those paying overseas suppliers, receiving international revenue, or managing regional operations. Foreign exchange fees can therefore become a common friction point in international business transactions. Béatrice Theaud Béatrice Theaud, Co-founder and COO of Statrys, said, “The system wasn’t built for us. Ours is. Many financial tools still reflect how businesses operated decades ago, not how entrepreneurs really work today. At Statrys, we believe financial services should be straightforward and transparent. This Women’s Day, we are offering 0% FX costs for one month for eligible Singapore businesses opening a Statrys business account. Real rates, simple pricing, and no fine print.”     Featured image: Edited by Fintech News Singapore, based on image by Juan J. J. Labrador via Freepik The post Statrys Offers One-Month FX Fee Waiver for Businesses With Female Leaders appeared first on Fintech Singapore.

Finastra has introduced an AI tool aimed at speeding up how banks investigate and resolve payment errors. The solution, called OperatorAssist, is available as an additional capability within the company’s payment hub user interface. It is designed to reduce errors, speed exception handling and lower operational costs across the payments lifecycle. Payment errors and inefficient exception handling remain among the most time consuming and costly challenges in payments operations. OperatorAssist aims to address these issues by automating analysis, recommending fixes and guiding users through resolution while reducing reliance on manual tracking and reporting. Finastra said early results indicate the technology could deliver potential efficiency gains of more than 20 percent by reducing the time required to handle payment investigations. Barry Rodrigues Barry Rodrigues, EVP, Payments at Finastra, said, “By combining AI with a cloud-native, ISO 20022-native platform, we’re removing friction from daily operations and empowering institutions with faster, smarter ways to resolve issues. Delivering speed, accuracy, and superior customer experience, this isn’t just an incremental improvement but a step-change in how payments teams work.” According to the company, the technology can reduce manual investigation time by between 20 and 30 percent, saving operators more than 1.5 hours per day. According to the company, the technology can reduce manual investigation time by between 20 and 30 percent, saving operators more than 1.5 hours per day. OperatorAssist is available to users of Global PAYplus and Payments To Go, extending Finastra’s cloud native payments infrastructure with optional AI functionality aimed at improving operational efficiency and     Featured image: Edited by Fintech News Singapore, based on image by farknot via Freepik The post Finastra Rolls Out AI Tool to Help Banks Investigate Payment Errors appeared first on Fintech Singapore.

Interest is emerging around UOB Asset Management as its parent firm reviews options for the business. Bloomberg reported that Amundi, KKR and Seviora are among firms exploring a potential investment in the unit. A key issue in the discussions is how much of UOB’s distribution network in Southeast Asia would be included in any transaction. The network provides asset managers with access to the bank’s retail and wealth clients across several regional markets, making it an important part of the deal structure. People familiar with the matter said the bidders have submitted non-binding offers for the asset management business. Discussions remain ongoing and there is no certainty a deal will be reached. Additional bidders could also emerge. UOB said it does not comment on market speculation and remains focused on delivering long term value to shareholders while meeting evolving customer needs. Amundi, KKR and Seviora declined to comment. Seviora operates as an asset management platform backed by Temasek Holdings. The Singapore lender has been reviewing options for the business, including a potential sale, as part of a broader portfolio review. Earlier reports suggested the unit could be valued at several hundred million US dollars. Founded in 1986, UOB Asset Management oversees about US$41 billion in assets and operates in Singapore, Brunei, Indonesia, Japan, Malaysia, Taiwan, Thailand and Vietnam.     Featured image: Edited by Fintech News Singapore, based on image by UOB The post UOB Said to Explore Sale of Asset Management Arm as Bidders Emerge appeared first on Fintech Singapore.

OKX is now valued at about US$25 billion after receiving a minority investment from Intercontinental Exchange (ICE), according to Reuters. ICE, the parent company of the New York Stock Exchange, has been expanding its presence in digital assets through several strategic investments. As part of the partnership, ICE will license OKX spot cryptocurrency price data and plans to launch U.S.-regulated futures tied to those markets. In turn, OKX will distribute ICE’s U.S. futures and tokenised equities products to its global user base, which the exchange says exceeds 120 million users. ICE will also receive a seat on OKX’s board. Financial terms of the investment were not disclosed. The deal follows ICE’s recent investment in prediction market platform Polymarket, reflecting the exchange operator’s broader push into digital asset and tokenised trading infrastructure.     Featured image: Edited by Fintech News Singapore, based on image by farknot via Freepik The post NYSE Owner ICE Takes Minority Stake in OKX at US$25 Billion Valuation appeared first on Fintech Singapore.

Mastercard and Google have introduced Verifiable Intent, a standards based framework designed to verify user authorisation when artificial intelligence agents make purchases on a consumer’s behalf. The initiative addresses the rise of agentic commerce, where AI systems move from assisting users to planning purchases and executing transactions autonomously. Verifiable Intent creates a tamper resistant cryptographic record linking a user’s identity, instructions and the resulting transaction. Pablo Fourez Pablo Fourez, Chief Digital Officer, Mastercard, said, “Consumers need confidence and verifiable evidence that agents will follow instructions while maintaining privacy. Merchants need assurance that an agent is authorized to transact. Issuers must distinguish legitimate activity from fraud. And if something goes wrong, everyone needs facts — not guesswork. Meeting these needs requires a new model of trust, designed specifically for agentic commerce, and built with privacy at the center.” Mastercard said the framework establishes a shared source of truth that can be used to verify transactions and resolve disputes when payments are initiated by AI agents. The system uses selective disclosure so that only the minimum transaction data is shared when required for fraud checks or dispute resolution. Verifiable Intent was co developed with Google and is aligned with Google’s Agent Payments Protocol (AP2) and Universal Commerce Protocol (UCP). It is also built on open standards from organisations including the FIDO Alliance, EMVCo, the Internet Engineering Task Force and the World Wide Web Consortium, allowing it to work across different platforms, wallets and payment networks. Mastercard plans to integrate Verifiable Intent into the intent APIs of its Agent Pay platform in the coming months to support real world adoption with partners. The company has also open sourced the specification and reference implementation on GitHub and at verifiableintent.dev. Stavan Parikh “As AI agents begin to act more independently, it’s essential that user intent remains clear, provable, and protected. Strong, interoperable trust infrastructure like Verifiable Intent that is compatible with Agent Payments Protocol is a natural accelerator for scaling agentic commerce, and we’re proud to have collaborated with Mastercard on this initiative.” said Stavan Parikh, Vice President and General Manager, Payments, at Google. Industry players including Adyen, Fiserv and Worldpay have also expressed support for the framework as automated systems begin participating directly in commerce.     Featured image: Edited by Fintech News Singapore, based on image by 3Dsss via Freepik The post Mastercard, Google Introduce Verifiable Intent as AI Agents Begin Making Payments appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) has issued new guidelines outlining how banks, insurers and asset managers should manage climate transition and physical risks. The Guidelines on Environmental Risk Management for Transition Planning set out MAS’ supervisory expectations for financial institutions and serve as an addendum to the Environmental Risk Management framework introduced in 2020. MAS issued separate guidelines for banks, insurers and asset managers, reflecting differences in their business models and incorporating feedback from a public consultation and industry engagement. Under the guidelines, financial institutions are expected to establish transition planning processes in a risk proportionate manner, taking into account the risk profile of their business models and local operating conditions. Institutions should assess and manage both physical and transition risks arising from climate change by adapting their governance, business models and risk management practices. MAS also expects financial institutions to engage customers and investee companies to better understand the climate related risks they face and how they are managed. The regulator said this engagement should consider risk materiality when collecting data and help avoid indiscriminate withdrawal of credit, insurance coverage or investments that could affect financial stability. MAS added that financial institutions should continue strengthening their capabilities to measure and manage climate related risks as data and methodologies evolve. The guidelines will take effect in September 2027 after an 18 month transition period. Ho Hern Shin Ho Hern Shin, Deputy Managing Director for Financial Supervision at MAS, said, “These guidelines support FIs in building their risk management capabilities in response to both physical and transition risks. The financial sector plays an important role in supporting customers as they navigate the risks from climate change. By engaging their customers and investee companies in a risk proportionate manner, FIs can build better resilience to risks and support broader financial stability.”     Featured image: Edited by Fintech News Singapore, based on image by tahantanha10 via Freepik The post MAS Gives Financial Institutions 18 Months to Adopt Climate Risk Guidelines appeared first on Fintech Singapore.

Singapore Police have arrested three Singaporeans in a money laundering probe linked to the transnational scam syndicate Prince Holding Group. Investigations into Prince Holding Group, its founder and Chairman Chen Zhi, and related associates began in 2024. In October 2025, police conducted islandwide enforcement operations targeting individuals linked to the group. Authorities seized or issued prohibition of disposal orders on assets worth more than S$150 million, including a yacht, 11 cars and bottles of liquor. No arrests were made then as Chen Zhi and several associates were not in Singapore. Chen Zhi was reportedly arrested in Cambodia in January 2026 and extradited to China at the request of Chinese authorities. Police Expand Probe and Asset Seizures Police arrested three individuals between November 2025 and January 2026 for suspected money laundering linked to the case. Tan Yew Kiat, a 49 year old Singaporean and director of SRS Auto Holdings Pte Ltd, was arrested on 20 November 2025 under Section 54(3) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992. Police also issued prohibition of disposal orders on vehicles registered under SRS Auto. Nigel Tang Wan Bao Nabil, a 32 year old Singaporean, was arrested on 11 December 2025 after returning to Singapore from Cambodia. Yeo Sin Huat Alan, a 53 year old Singaporean, was arrested on 12 January 2026 after returning to Singapore from Cambodia. Police have also issued a warrant of arrest for Chen Xiuling, also known as Karen Chen, a 43 year old Singaporean woman, for offences linked to falsifying accounts and attempted cheating. She left Singapore before the October 2025 operations and is believed to be in Cambodia. Authorities also issued additional prohibition of disposal orders against three properties and eight cars, and seized cash, bank and securities accounts, luxury bags and watches valued at about S$350 million. The total value of assets seized or restricted in the case now exceeds S$500 million. Money laundering offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act carry penalties of up to 10 years’ imprisonment, a fine of up to S$500,000, or both. Peggy Pao Peggy Pao, Director of the Commercial Affairs Department, said, “The arrests and extensive scale of assets seized in Singapore underscore the police’s resolve to take swift and decisive enforcement action against individuals and corporate entities that seek to exploit Singapore’s financial system for criminal activities.”     Featured image: Edited by Fintech News Singapore, based on image by tehcheesiong via Freepik The post Singapore Arrests Three in Prince Group Probe With Over S$500 Million Seized appeared first on Fintech Singapore.

Sarut Ruttanaporn will become CEO of Siam Commercial Bank from 1 May 2026. The bank’s parent company SCBX confirmed the appointment as part of a leadership transition. Kris Chantanotoke will complete his contract term and will not seek renewal. Sarut Ruttanaporn Sarut has more than 30 years of experience in financial services across money markets, capital markets, retail banking, and corporate banking. He currently serves as CEO of CardX, a consumer finance company established by SCBX in 2022, which he helped build from its inception. In that role, he helped establish the company’s technology infrastructure, risk management framework, and customer experience model to support the group’s consumer finance business. Before leading CardX, Sarut held several senior roles at Siam Commercial Bank, including President, Senior Executive Vice President and Head of the Retail Segment and Branch Network, and First Executive Vice President and Head of the Corporate Segment. Earlier in his career, he worked at global financial institutions focusing on structured financial solutions and corporate relationship management. Arthid Nanthawithaya Arthid Nanthawithaya, Chief Executive Officer of SCBX, said, “Mr Sarut will bring a comprehensive blend of experience, strategic depth, and leadership capability. His strong track record across multiple business segments makes him well-equipped to lead Siam Commercial Bank through this important transition and drive the bank forward in alignment with SCBX Group’s long-term strategic direction.” SCBX said it has finalised the selection of a successor for the CEO role at CardX. The nomination is under review and approval.     Featured image: Edited by Fintech News Singapore, based on image by lifeforstock via Freepik The post Sarut Ruttanaporn to Lead Siam Commercial Bank as CEO From 1 May appeared first on Fintech Singapore.

Endowus has introduced WealthHERWay to support women investors in Hong Kong and Singapore through research and investment education. The programme was announced ahead of International Women’s Day on 8 March and aims to address the investment gap as women take on a growing share of financial responsibility. Data from Endowus suggests women are highly engaged investors on the platform. Female users in Singapore spend 34 percent more time per session on the Endowus app than men and make their first investment faster, with a median time of 8.5 hours compared with 10 hours. Sheryl Choong Sheryl Choong, Head of Client Advisory at Endowus, said, “For women, taking control of their finances is not just about securing the future, but also creating the life they aspire to today – whether that means starting a business or supporting their families. Financial journeys are not linear, and advice must adapt to life transitions. We believe that being able to invest confidently, with the right advice and tools, is both financially and personally empowering.” Women are also 25 percent less likely to redeem their investments, though the scale of investment remains smaller. Women start with about 20 percent lower initial investment amounts on average and contribute around 21 percent less each month. A larger share also hold cash positions, at 66 percent compared with 55 percent of men. Endowus will launch the programme with a panel discussion titled WealthHERWay – Define Your Future with Clarity. The firm will also host educational seminars and community engagements across Hong Kong and Singapore with partners including Capital Group and Love, Bonito. Endowus and Capital Group will collaborate on research and educational content examining investment trends among women, including wealth transfer and attitudes towards financial advice.     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik The post Endowus Introduces WealthHERWay to Support Women Investors appeared first on Fintech Singapore.

Singaporean travellers will be able to use ShopeePay to make QR code payments at more than 150 million merchants across over 100 markets through an integration with Alipay+. ShopeePay said the partnership marks its first cross-border payments offering. The feature allows users to scan merchant QR codes overseas and pay directly through the ShopeePay app without the need for physical cash or currency exchange. The service is currently available in 28 countries and regions, including Malaysia, South Korea and Australia, as well as several markets across Europe and the Americas. List of countries where Singapore users can now make cross-border payments with ShopeePay Additional markets are expected to be rolled out in the coming months. Through the Alipay+ ecosystem, ShopeePay users in Singapore can pay at merchants connected to national payment systems such as DuitNow in Malaysia and ZeroPay in South Korea, as well as other local acquiring partners. Users will continue to receive transparent exchange rates and cashback rewards when making payments overseas. Benjamin Tan, Head of ShopeePay Singapore, said, “When overseas QR acceptance is fragmented, consumers often fall back on cards that may not be widely accepted by smaller merchants and can come with unclear foreign exchange costs. By enabling cross-border QR payments, we are closing that gap: bringing the simplicity, transparency, and accessibility users value at home to their journeys abroad.” Pan Yan Pan Yan, Head of the Strategic Partnership Office for Alipay+ at Ant International, added, “We’re proud to bring cross-border payment capabilities to ShopeePay, extending their reach beyond local payments, and giving Singaporeans more choices when travelling abroad. We will also continue to support ShopeePay users across Southeast Asia to enjoy this convenient and seamless feature.” ShopeePay said the feature is also expected to expand to users in other regional markets over time. The launch comes as cross-border QR payment connectivity gains traction across the region. In Singapore, digital wallet transactions are projected to account for 44 percent of in-store payment value by 2030.   The post ShopeePay Enables Overseas QR Payments for Singapore Travellers With Alipay+ appeared first on Fintech Singapore.

Maybank has joined DBS and UOB in offering additional support to junior employees, with more than 800 staff in its Singapore operations set to receive a one-off payout, according to a report by The Business Times. The package includes S$1,250 for about 200 unionised executives and a quarter-month bonus for more than 600 other junior employees, a Maybank Singapore spokesperson said. The bank employs more than 2,000 staff in Singapore. Maybank Singapore said the payment recognises employees’ contributions and aims to help staff cope with rising living costs. Its head of human capital noted that the payout is more than double the S$500 given in earlier years. DBS announced in February a S$1,000 one-time bonus for more than 23,000 junior employees globally, while UOB said it would give a half-month base salary payout to over 6,000 junior staff. The move comes after Maybank reported stronger earnings. The group posted a 5.7 percent rise in fourth-quarter net profit to RM2.7 billion for the three months ended 31 December 2025. Full-year net profit increased 4.2 percent to RM10.5 billion. In Singapore, profit before tax rose 1.3 percent to S$711.3 million, supported by higher net fund-based income despite slower non-interest income, higher overheads and lower impairment write-backs.     Featured image: Edited by Fintech News Singapore, based on image by Ahmed Abouelleil via Unsplash The post Maybank Singapore Joins DBS, UOB With One-Time Bonus for Junior Staff appeared first on Fintech Singapore.

Standard Chartered has appointed Naveen Mallela as Global Head of Payments as it integrates its clearing, collections and payments teams into one unit. Naveen Mallela Effective 4 May 2026, Mallela will lead the bank’s unified payments organisation. The unit will develop payment capabilities across the full transaction lifecycle, covering both traditional rails and tokenised and on-chain payment flows. Mallela will be based in Singapore and report to Mahesh Kini, Global Head of Cash Management at the bank. He brings more than 25 years of experience in transaction banking and payments, with a focus on modernising payment infrastructure and developing next-generation solutions. Mallela joins Standard Chartered from JPMorgan Chase, where he served as Global Co-Head of Kinexys, formerly known as Onyx. Kinexys is JPMorgan’s permissioned blockchain unit that supports real-time cross-border payments and digital asset settlement. Roberto Hoornweg “As client needs evolve and payments increasingly integrate traditional and on-chain settlement models, Naveen’s experience in leading payments innovation will be pivotal as we scale our next phase of growth by combining clearing and digital assets capabilities in a client-centric way,” said Roberto Hoornweg, CEO, Corporate and Investment Banking at Standard Chartered. The move forms part of Standard Chartered’s broader efforts to modernise its cash management business through technology investments, process redesign and partnerships aimed at meeting evolving cross-border payment needs.     Featured image: Edited by Fintech News Singapore, based on image by smth.design via Freepik The post StanChart Taps Naveen Mallela to Lead Unified Global Payments Unit appeared first on Fintech Singapore.

“People have been hearing all sorts of things about computers during the past ten years through the media. Supposedly, computers have been controlling various aspects of their lives. Yet in spite of that, most adults have no idea of what a computer really is, of what it can or can’t do.” Steve Jobs said this decades ago, captured in Make Something Wonderful, a book of his own words. Sure, he was talking about computers back then. But read it again today, and the misunderstanding he described hasn’t gone anywhere. It’s just wearing a different name. Swap out the word computers for agentic AI, and you have a near-perfect portrait of where fintech discourse sits right now. Autonomous systems that go beyond answering questions to take actions, make decisions and execute end-to-end tasks with little to no human intervention. Agentic AI talk is everywhere, and the expectations for it are enormous. But underneath it all, the same problem Jobs identified persists: whether you’re engaging with agentic AI, building it, buying it, or regulating it, the real and present question is whether anyone truly understands what it is, what it can do, and where it breaks. With agentic AI, the stakes of not knowing are categorically different. Systems no longer produce outputs alone; they also initiate actions. The shift from passive to active is precisely where the exposure begins. In financial services and in fintech, that exposure has a name. When agentic AI in fintech is embedded into credit decisions, forex comparisons, wealth recommendations and customer experiences, it becomes a risk vector, touching credit risk models, compliance frameworks, customer outcomes and institutional reputation—all at once. The industry is moving fast towards AI-first and AI-native operations. The harder question is whether clarity is keeping pace. How Singapore’s Banks Turn Agentic AI From Hype to Value Gartner predicts that over 40% of agentic AI projects will be cancelled by the end of 2027. Most are being driven by hype into early-stage experiments and proof of concepts that were never fully grounded in clear operational intent to begin with. Institutions that succeed in extracting real value from this technology are going to be the ones that stop looking for a shortcut. They will start building the foundation with human oversight designed in, and where autonomy never replaces accountability. In Southeast Asia, Singapore offers one of the clearest views of how financial institutions are attempting to close in on clarity. Bank of Singapore, for instance, deployed an agentic AI tool called the Source of Wealth Assistant (SOWA). The tool automates an integral part of the KYC due diligence process, ensuring the legitimacy of clients’ wealth and transactions. KYC for high-net-worth clients requires establishing the legitimacy of a client’s wealth and transactions against a dense body of regulatory expectations. SOWA automates the core of the process, cutting the time it takes for relationship managers to produce a Source of Wealth report from 10 days to an hour, while still ensuring these align with regulatory standards. Relationship managers review and refine the AI-generated draft before it moves to internal review teams for anti-money laundering and counter-terrorism financing assessments. The SOWA-processed data remains hosted on the bank’s private cloud. Kam Chin Wong, Global Head of Financial Crime Compliance, Bank of Singapore, has said: Kam Chin Wong “With AI integrated into the source of wealth reporting process, relationship managers can shift their focus from manual documentation to meaningful client engagement and risk assessment. This not only strengthens client relationships but also maintains high standards of regulatory compliance while delivering greater value.” In a broader context, OCBC has taken that same philosophy and embedded it across how it touches the bank’s operations. Over six million decisions are AI-powered daily, spanning revenue growth, risk mitigation and productivity. Every in-house tool is built against the FEAT principles of Fairness, Ethics, Accountability and Transparency, with regular reviews to test for accuracy and screen for bias across gender, nationality and other dimensions. DBS, meanwhile, has pushed into newer and more consequential territory as the first bank in the Asia Pacific to pilot AI-powered agent payments via Visa’s Intelligent Commerce. The pilot actively tests how agent-initiated transactions can move through existing card network infrastructure under issuer-controlled, secure processes. The exercise will assess how AI-driven transactions can be integrated into existing systems while maintaining regulatory, operational and security standards. The bank is simultaneously stress-testing the authentication architecture that agent-led payments will depend on, with controls sitting at both the issuer and network level. T.R. Ramachandran, Head of Products & Solutions, Asia Pacific at Visa, shared, T.R. Ramachandran “Through Visa Intelligent Commerce and Trusted Agent Protocol, we’re building the foundation that will make agentic commerce safe, secure and scalable — from AI‑ready credentials to advanced authentication. This sets the stage for how trusted, AI‑powered experiences will come to life for consumers and partners across the region.” By January 2026, DBS reported that its AI initiatives had generated S$1 billion in economic value in 2025, compared to S$750 million the year prior, a figure derived from comparing the outcomes between AI-enabled customers and control groups. The common thread across these use cases is clarity, applied comprehensively around agentic AI deployment. Closing the Clarity Gap If the history of computing has taught us anything, it is the fact that the most powerful tools are also the ones that are most prone to being misunderstood. As agentic AI moves from generating text to executing financial tasks, the “understanding gap” scenario Steve Jobs identified decades ago resurfaces and compounds. Every layer of autonomy added without sufficient comprehension is another layer of exposure accumulating until something makes it a visible problem. To bridge this gap, financial institutions must stop looking for a quick fix and build a foundation that allows for human-in-the-loop oversight, ensuring autonomy never outpaces accountability. The differentiator is clarity on the end goal. In fintech, the future will be shaped by businesses that master the discipline of knowing precisely when to keep humans in command. If you want to understand more about how Southeast Asia’s leading banks and fintechs are operationalising agentic AI, watch the full webinar on Beyond the Bot: Agentic AI’s Evolving Role in Financial Services. The post The Agentic AI Gold Rush in Fintech Has One Dangerous Blind Spot appeared first on Fintech Singapore.

Mastercard has completed its first live AI agent-initiated payment transaction in Singapore with DBS and UOB. In the demonstration, an AI agent booked a ride to Singapore Changi Airport through global mobility provider hoppa using CardInfoLink’s AI agent, which connects to hoppa’s taxi and airport limousine network. The payment was processed using Mastercard’s Agent Pay framework. Each transaction uses a unique agentic token and Mastercard Payment Passkeys to capture consent and verify the payment. Mastercard said the test shows how AI agents could complete everyday tasks such as transport and lifestyle bookings while maintaining strong authentication and security safeguards. Minsook Cho Minsook Cho, Country Manager for Singapore at Mastercard, said, “As the nation advances its AI agenda, Mastercard’s first live agentic transaction shows how innovation can be brought into everyday services responsibly and securely with Agent Pay. Together with likeminded partners like DBS and UOB, Mastercard is supporting the vision for AI‑powered commerce by building trusted foundations.” Mastercard said it plans to expand authenticated agentic transactions into sectors including transportation, travel, entertainment and retail. The development comes as the company prepares to establish a regional AI Center of Excellence in Singapore, which it said will become its largest innovation space in the region and support both innovation and governance for AI-enabled transactions. The company is also deploying dedicated agentic commerce teams across Asia Pacific to support financial institutions and merchants adopting AI-led payment experiences. The Singapore deployment follows earlier authenticated agentic transactions completed by Mastercard in Australia, New Zealand and India.     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik   The post Mastercard Completes First Live AI Agent Payment in Singapore With DBS, UOB appeared first on Fintech Singapore.

Singapore is working with banks including JPMorgan, UBS and ICBC Standard Bank to develop a regional hub for physical gold trading and storage, Bloomberg reported. Authorities are exploring ways to expand the city-state’s bullion market as demand for gold grows across Asia and financial centres compete to attract trading and storage activity. According to people familiar with the matter, the Monetary Authority of Singapore has been consulting global bullion dealers and banks alongside local lenders DBS Group, UOB and OCBC. The initiative is expected to focus largely on institutional participants such as central banks and family offices. The discussions remain at an early stage and the scope could still change. Singapore has previously taken steps to support the bullion market. The government removed goods and services tax on investment-grade precious metals in 2012 in an effort to encourage trading activity. Market infrastructure is also being reviewed. Singapore Exchange is assessing whether industry demand could support a new gold contract after its Kilobar Gold Contract, introduced in 2014, was discontinued in 2018 following weak trading volumes. MAS said it has been engaging market participants since last year and will provide further details on potential initiatives in due course. Among domestic lenders, UOB remains the only Singapore bank offering retail customers physical gold purchases together with vault storage services. OCBC has said it is exploring custody services for physical gold aimed at institutional and affluent clients.     Featured image: Edited by Fintech News Singapore, based on image by wtmn via Freepik   The post Singapore Explores Regional Physical Gold Trading Hub With Global Banks appeared first on Fintech Singapore.

Transaction Network Services (TNS) has named Levent Mehmet as Managing Director for Asia Pacific for its financial markets business. Based in Singapore, he will oversee strategy, sales and client engagement across the region. Mehmet brings more than 25 years of experience in financial market data and infrastructure. Prior to joining TNS, he spent 17 years at ICE Data Services, helping drive the company’s expansion across Asia Pacific. He has also held roles at SIX and Bloomberg in Europe and the Middle East. In his new role, Mehmet will lead TNS teams in Japan, Hong Kong and Singapore while supporting clients across China, India, Indonesia, Malaysia, the Philippines, Taiwan, Thailand and Vietnam. Levent Mehmet “Asia is a key center for trading innovation, and TNS is playing an increasingly important role in helping firms connect and grow in these markets. With new market data connectivity, a proven network infrastructure and strong relationships across global exchanges, including additional exchange coverage added recently, we’re helping clients to trade smarter and faster.” said Levent Mehmet, Managing Director, Asia Pacific, TNS Financial Markets. TNS provides connectivity and infrastructure services for financial markets, linking more than 5,000 financial community endpoints through a global network with 125 points of presence. Its Infrastructure as a Service portfolio includes connectivity, colocation, cloud, market data and VPN services used by financial market participants worldwide.     Featured image: Edited by Fintech News Singapore, based on image by viktorfilm via Freepik The post TNS Appoints Levent Mehmet to Lead APAC Financial Markets Business appeared first on Fintech Singapore.

Ripple is expanding its payments platform with stablecoin capabilities as fintechs and banks look to improve cross-border liquidity and settlement. The updates strengthen Ripple Payments by allowing businesses to collect, hold, exchange and send funds using both fiat currencies and stablecoins through a single platform. The expansion follows Ripple’s acquisitions of custody provider Palisade and virtual accounts platform Rail, enabling businesses to create named virtual accounts and wallets to receive payments, convert funds and settle them into operational accounts. Ripple said the integrated setup is designed to simplify cross-border payments by reducing the need for multiple providers and fragmented systems. Monica Long “For the global financial system to evolve, fintechs and financial institutions need infrastructure that treats digital assets with the same rigor as traditional finance. Success in this space requires enterprise-grade infrastructure, extensive licensing, and deep liquidity — capabilities few can match. Ripple has built the blueprint for blockchain-based enterprise solutions designed to operate at global scale for regulated finance.” said Monica Long, President at Ripple. Ripple Payments is currently live in more than 60 markets and has processed over US$100 billion in transaction volume, according to the company. alfred, AltPayNet, AMINA Bank, Banco Genial, CambioReal, Corpay, ECIB and MassPay are among fintechs and financial institutions using Ripple Payments to support cross-border transfers, liquidity management and stablecoin-enabled payouts. Ripple said it holds more than 75 regulatory licences and registrations globally, including Money Transmitter Licenses in the United States and a Trust Company Charter from the New York Department of Financial Services. The company said this regulatory framework allows it to work directly with banks and payment providers while supporting money movement across regulated financial systems.     Featured image: Edited by Fintech News Singapore, based on image by Pixelid via Freepik The post Ripple Expands Payments Platform With Stablecoin Capabilities appeared first on Fintech Singapore.

Adoption of artificial intelligence (AI) in Southeast Asia is showing stronger momentum than the global average. A new McKinsey study, which polled more than 2,000 respondents from companies worldwide, found that nearly half (46%) of Southeast Asian firms have moved beyond AI pilots, compared with 35% globally. According to the firm, this momentum stems from the region’s mobile-first consumer base, skilled talent, and local solution providers, which are creating fertile ground for rapid AI scaling. The study, conducted in collaboration with the Singapore Economic Development Board (EDB) and Tech in Asia, also revealed that 8% of Southeast Asian companies have fully scaled AI initiatives, surpassing the global average of 6% and the Asia-Pacific (APAC) average, outside China and India, of just 2%. However, the US remains ahead with 13% of firms fully scaling AI. This reflects the US’s advanced stage of AI deployment and its position as a pioneer in adopting cutting-edge technologies. Adoption of AI across regions, % of respondents, Source: AI in Southeast Asia: An era of opportunity, McKinsey, EDB Singapore, and Tech in Asia, Feb 2026 Singapore and Indonesia lead AI adoption In Southeast Asia, Singapore and Indonesia are standing out as leaders in AI adoption, with 56% and 51% of respondents, respectively, reporting progress toward scaled adoption. These countries benefit from a robust ecosystems of AI centers of excellences (CoEs), incubators and accelerators that nurture a growing pool of AI startups. Their national economic-development strategies further reinforce this momentum. Singapore alone hosts more than 60 AI CoEs, including those of Alibaba Cloud, IBM, NVIDIA, and Oracle. SGInnovate, a government-owned innovation platform centered on the development of deeptech, develops deep tech talent, assists startups, and has invested in over 100 business-to-business (B2B) AI companies in industries ranging from marketing to healthcare. Furthermore, the country’s National AI Strategy aims to develop and deploy AI solutions that deliver meaningful benefits to businesses, citizens, and for public good. A cornerstone of this strategy is the development of a pipeline of local AI talent across creators, practitioners, and users. Indonesia, meanwhile, is driving AI adoption through a broader push toward industry digitalization via AI roadmaps and technology investments. A vibrant startup scene and a fast‑expanding digital economy, particularly in e-commerce, fintech, and software-as-a-service (SaaS), are further providing fertile ground for AI solutions that enhance customer experience and analytics. According to some estimates, Indonesia accounts for about 20% of all of tech startups in ASEAN with nearly 1,800 startups, second only to Singapore, which holds around 44%, or more than 3,800 startups. Drivers of the AI momentum in Southeast Asia The McKinsey study highlights a number of factors driving the AI momentum in Southeast Asia. Firstly, more than half of the Southeast Asian executives polled cited the large, mobile-first consumer base, competitive costs for skilled AI talent, and the availability of regional AI solution providers as key drivers of adoption. In contrast, only about one in five respondents pointed to government incentives or fewer legacy system constraints as primary enablers. Collectively, these factors are creating a fertile environment for early AI scaling. Furthermore, about half of Southeast Asian respondents believe that their use of AI is on par with or ahead of their global headquarters. This signals growing confidence and capability among regional teams. Additionally, the report notes that lighter legacy burdens in Southeast Asia reduce the complexity and cost of upgrading core systems. With fewer entrenched legacy constraints, Southeast Asian organizations can modernize quicker, and deploy new technologies, including AI, with greater agility. Large enterprises dominate AI usage Although the use of AI in Southeast Asia spans companies of all sizes, larger enterprises lead AI maturity. Among companies with annual revenues above US$250 million, more than half (56%) reported being at the scaling or fully scaled stage, compared with 47% of medium-size firms, and 42% of smaller companies. These findings show that larger firms have structural advantages when it comes to AI deployment, benefiting from greater data availability, more established digital infrastructure, and more resources to invest in scaling AI initiatives. Adoption of AI across companies in Southeast Asia, by revenues, % of respondents, Source: AI in Southeast Asia: An era of opportunity, McKinsey, EDB Singapore, and Tech in Asia, Feb 2026 Industry-wise, technology, media, and telecommunications, and advanced industries dominate AI usage, with roughly six in ten (62%) companies in these sectors reporting scaling or having fully scaled their deployments. Other digitally intensive sectors, such as energy and materials, also show strong progress, with half of companies reporting AI application scaling. In contrast, public sector, healthcare, and service-oriented industries remain in the early stages of usage. Nearly seven in ten companies (69%) in these sectors are still piloting or experimenting AI applications. This slower is likely due to more complex data environments, regulatory constraints, and limited access to AI-ready talent or infrastructure. Adoption of AI in Southeast Asia across industries, % of respondents, Source: AI in Southeast Asia: An era of opportunity, McKinsey, EDB Singapore, and Tech in Asia, Feb 2026 A booming AI ecosystem Southeast Asia’s AI ecosystem has grown remarkably over the past years, now counting over 2,000 AI startups, according to a 2024 report by tech advisory firm Access Partnership. The figure positions the region competitively against other major AI markets including Germany with 2,508 AI startups, Japan with 2,216, and South Korea with 1,819. Singapore, the region’s major business hub, ranks third in the Global AI Index 2024, a benchmark of national performance in the worldwide AI landscape. The city state is performing particularly well on AI development, research, infrastructure, and commercial deployment. Top 4 on the Global Artificial Intelligence Index 2024, Source: Tortoise, 2024   Featured image: Edited by Fintech News Singapore, based on images by End.ru99 and utaem2022 via Freepik The post McKinsey: AI Adoption in Southeast Asia Surpasses Global Average appeared first on Fintech Singapore.

Visa and Bridge are expanding their partnership to scale stablecoin-linked cards to more than 100 countries across Europe, Asia Pacific, Africa and the Middle East by the end of the year. The cards are currently live in 18 countries. The companies first unveiled the global card issuance product in 2025. Bridge, a stablecoin infrastructure platform owned by Stripe, enables businesses and fintech developers to issue Visa cards that allow users to spend stablecoin balances at more than 175 million merchant locations worldwide. Businesses can also launch their own stablecoins that integrate with these card programs. Crypto platforms including Phantom and MetaMask are already using the cards to enable millions of customers to spend stablecoins. Cuy Sheffield “Expanding our work with Bridge gives us one more way to bring the speed, transparency and programmability of stablecoins directly into the settlement process. This milestone gives our partners greater choice in how they move value, and it reinforces Visa’s role as a trusted network connecting stablecoins and the global payments ecosystem.” said Cuy Sheffield, Head of Crypto, Visa. Through Bridge’s partnership with Lead Bank, card transactions can also be settled onchain with Visa as part of the company’s stablecoin settlement pilot. Bridge provides the infrastructure behind Lead Bank’s participation in the pilot. The pilot is evaluating how stablecoin settlement could expand options for issuers and program managers, improve efficiency through on-chain reconciliation and enable faster fund movement. Zach Abrams “We’re on a multiyear journey to help businesses own their own financial stack. This expansion of our work with Visa will enable businesses launching their own custom stablecoins to use them seamlessly within their card programs.” said Zach Abrams, CEO and cofounder of Bridge. Visa is also assessing potential support for Bridge-issued assets in future payment flows as it explores new settlement pathways within its network.     Featured image: Edited by Fintech News Singapore, based on image by brukoik via Freepik The post Visa and Bridge to Expand Stablecoin Card Program to Over 100 Countries appeared first on Fintech Singapore.

SoFi and Mastercard have partnered to explore using SoFiUSD to settle transactions across the company’s global payments network. The companies will examine how card issuers and acquirers could settle card transactions using SoFiUSD, SoFi’s fully reserved U.S. dollar stablecoin, enabling faster settlement for use cases such as cross-border remittances and business-to-business payments. SoFiUSD is issued by SoFi Bank, N.A., a nationally chartered and insured deposit bank in the United States. The stablecoin is backed one-to-one by cash and issued on a public blockchain with immediate redemption capability. The token is also expected to be supported on Mastercard’s Multi-Token Network, a platform designed to connect traditional financial systems with digital assets. The integration aims to enable interoperability between fiat currencies, stablecoins and tokenised deposits. SoFi Bank is expected to settle its own credit and debit transactions processed on the network using SoFiUSD. Galileo, SoFi’s technology platform, is also expected to be among the first to offer its payment card clients and issuing banks the option to settle transactions using the stablecoin. Anthony Noto Anthony Noto, CEO of SoFi, said, “With SoFiUSD as a settlement currency across Mastercard’s network, card issuers and acquirers can more easily enable the millions of businesses they serve around the globe to instantly settle transactions, 24 hours a day, 7 days a week. This is only the beginning of our efforts to bring SoFi’s bank-grade infrastructure to digital commerce.” Sherri Haymond Sherri Haymond, Global Head of Digital Commercialisation at Mastercard, said, “Bringing stablecoin settlement on our network will connect regulated stablecoins with the reliability, security, and reach that consumers, businesses and financial institutions expect. And this effort expands choice and flexibility across the payments ecosystem in how people pay or get paid.” SoFi and Mastercard said they will explore additional use cases across stablecoins, fiat currencies and tokenised assets, including programmable treasury applications and other money movement and payout scenarios, subject to regulatory requirements and network rules.     Featured image: Edited by Fintech News Singapore, based on image by SoFi The post SoFi and Mastercard to Explore SoFiUSD Stablecoin Settlement appeared first on Fintech Singapore.