Ant International’s WorldFirst reported a 300% increase in transaction volumes in emerging markets during the first half of 2025, alongside expanded bank partnerships and new AI-powered tools. The update was shared at the company’s Financial Partners Day in London, which brought together more than 60 representatives from over 30 financial institutions. The company, which provides cross-border payment and treasury account services, said its banking network now includes eight global systemically important banks, among them J.P. Morgan, Standard Chartered, Barclays, HSBC and Citibank. In Europe, BNP Paribas is a key strategic partner, working with WorldFirst to deliver digital trade finance and cash management solutions. To strengthen security and efficiency, WorldFirst has introduced AI-driven risk management systems that integrate advanced machine learning to maintain a fraud rate below 0.01% and streamline compliance processes. It has also rolled out Anthea, a 24/7 multilingual AI assistant designed to help businesses overcome cross-cultural barriers, language gaps and local payment preferences. WorldFirst expanded its physical presence this year with new offices in Kuala Lumpur, Mexico, the UAE and Saudi Arabia, aiming to strengthen its local support network across key growth regions. Clara Shi “The power of fintech-bank collaboration lies in building a more robust and inclusive financial ecosystem. This synergy enables us to deliver solutions with global coverage, efficiency, and security to SMEs engaged in cross-border commerce. In turn, it provides our financial partners with a strategic gateway to the vibrant—and often hard-to-reach—SME economy.” said Clara Shi, CEO of WorldFirst. The post Ant International’s WorldFirst Reports 300% Transaction Growth in Emerging Markets appeared first on Fintech Singapore.

Ripple’s Chief Technology Officer David Schwartz will step back from his role at the end of the year after more than 13 years with the company. David Schwartz He will remain involved as CTO Emeritus and has accepted a seat on Ripple’s board of directors. Schwartz, one of the original architects of the XRP Ledger, announced his decision in a post on X. He reflected on his career spanning four decades, from consulting for the U.S. National Security Agency to watching the rise of Bitcoin, before co-developing the XRP Ledger with Arthur Britto, Jed McCaleb and Chris Larsen. He said he intends to spend more time with his family and return to personal projects, including running an independent XRPL node and exploring new use cases for XRP. Despite leaving his day-to-day responsibilities, Schwartz confirmed he will remain active in the XRP community. In his message, Schwartz expressed gratitude to Ripple’s leadership and employees, as well as the wider developer and user community. He voiced confidence in the next generation of leaders, including Ripple’s senior vice president of engineering Dennis Jarosch, to continue advancing the company’s technology. Brad Garlinghouse Ripple CEO Brad Garlinghouse paid tribute on X, describing Schwartz as “a true OG in crypto” and commending his long-standing influence on the company and the industry. He added that he was pleased Schwartz would continue to advise Ripple as a board member. The smartest (and maybe the funniest) person I know. A true OG in crypto with the conviction and vision to see what others couldn’t – you are a legend. Thank you David for everything you’ve done for the industry, for Ripple and for the XRP Ledger. We are all forever grateful…… https://t.co/tt4uX4JlkV — Brad Garlinghouse (@bgarlinghouse) September 30, 2025   Featured image: Edited by Fintech News Singapore, based on image by muravev via Freepik   The post David Schwartz to Step Back as Ripple CTO, Takes Board Seat appeared first on Fintech Singapore.

Payments firm Nuvei is turning to AI to speed up client onboarding, rolling out an Integration Agent that reduces connection times to its global payments systems from weeks to just hours. Built on the Model Context Protocol, the tool is designed to simplify technical integration, reduce costly errors and give businesses faster access to optimisation tools that can accelerate revenue growth. The launch marks the beginning of what the company calls its roadmap for “agentic commerce,” where AI agents streamline and optimise complex payment workflows. Nuvei plans to expand the strategy with additional agents focused on fraud detection, revenue intelligence and transaction performance, alongside broader AI-driven enhancements across its technology stack and operations. The Integration Agent is available today in early access for select merchant partners, with broader rollout expected later this year. Additional agents are expected to launch in 2026. Philip Fayer Phil Fayer, Chair and CEO of Nuvei, said, “AI is transforming payments by removing complexity and accelerating growth for businesses. This launch extends Nuvei’s AI strategy to embed intelligence across every layer of our platform, delivering greater speed, accuracy, and scale. The Integration Agent is one of several initiatives at Nuvei as we move towards full agentic commerce that are enabling enterprises to connect, optimise, and innovate across the payments lifecycle in new ways.”     Featured image: Edited by Fintech News Singapore, based on image by ezps via Freepik The post Nuvei Taps AI Agent to Cut Its Payment System Onboarding From Weeks to Hours appeared first on Fintech Singapore.

Worldwide Stablecoin Payment Network (WSPN) and dtcpay are launching a Visa card that lets users pay with either WUSD stablecoins or U.S. dollars. The WUSD Card will be accepted at millions of merchants worldwide, making stablecoin payments more practical for everyday use. The card is designed to give customers flexibility in how they fund purchases, appealing to both crypto-native users and those used to traditional financial systems. By offering dual-funding options, the initiative aims to make payments more inclusive and user-friendly, encouraging wider adoption of stablecoins. Detailed information on the WUSD Card’s features, availability and launch timeline will be shared in upcoming announcements. WSPN develops stablecoin infrastructure and issues WUSD, a token pegged 1:1 to the U.S. dollar. dtcpay is a Singapore-based regulated payment provider licensed by the Monetary Authority of Singapore. Raymond Yuan “The WUSD Card represents our commitment to driving the productisation of stablecoins into real-world financial products. As stablecoins transition from novel payment instruments to integrated financial solutions, we’re focused on standardising these use cases for scalable, global impact. This card initiative with dtcpay exemplifies how we’re embedding stablecoin technology into practical, everyday products that enterprises and consumers can rely on.” said Raymond Yuan, Founder & CEO of WSPN. Band Zhao “With the WUSD Card, we’re proving that stablecoins are no longer just a concept — they are real, reliable, and ready for everyday use. Our partnership with WSPN sets a new standard for how digital and traditional finance come together, “ said Band Zhao, Group Chairman of dtcpay.     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik   The post WSPN and dtcpay to Roll Out WUSD Card for Global Stablecoin Payments appeared first on Fintech Singapore.

Singapore-based Crypto.com has widened its U.S. presence with a first-of-its-kind regulatory win, securing every major CFTC derivatives license needed to trade and clear crypto derivatives. The company said it now holds approvals for a designated contract market (DCM), a futures commission merchant (FCM) and a derivatives clearing organisation (DCO), making it the first major crypto platform to claim the full stack in the United States. Its affiliate, Crypto.com | Derivatives North America (CDNA), announced that it had received an amendment to its DCM license, enabling margined derivatives trading alongside existing fully collateralised products. Just days earlier, Crypto.com confirmed approvals for a DCO amendment and FCM registration, with its FCM entity listed at the National Futures Association. CDNA, already a CFTC-registered exchange and clearinghouse, filed for the amendment and provided extensive documentation and multiple trading demonstrations for review by CFTC staff before the approval was granted. Kris Marszalek “This full stack of CFTC-approved derivatives licenses enables Crypto.com to seamlessly provide clients with the most comprehensive derivatives trading experience, alongside Crypto.com’s additional product offerings including spot markets, prediction markets, stocks, qualified custody, credit and debit cards, and more. We sincerely appreciate the partnership with Acting Chairman Pham and the CFTC, who are working hard to carry out the crypto agenda of President Trump. We are ready to bring regulated derivatives to retail customers in the U.S. through one interface.” said Kris Marszalek, Co-Founder and CEO of Crypto.com. Travis McGhee “CDNA has been building a robust exchange and clearinghouse for multiple products and we are excited to head to the launch of our margined derivatives using state of the art technology focused on best-in-class risk management. We look forward to continued and productive engagement with Acting Chairman Pham and CFTC Staff.” said Travis McGhee, Managing Director, Global Head of Capital Markets of Crypto.com. CDNA will announce details of its margined derivatives products in the coming weeks. The post Crypto.com Secures U.S. Licences for Derivatives Trading and Clearing appeared first on Fintech Singapore.

Global financial platform Airwallex has introduced Nordic currencies for its issuing customers, marking its first move into the region as it continues to grow its European footprint. Customers in the European Union can now make card transactions directly in Danish krone, Norwegian krone and Swedish krona, as well as Polish zloty. When payments are made in these currencies, amounts will be debited directly from multi-currency wallets, eliminating unnecessary foreign exchange conversions and delivering cost savings. The addition of local currencies comes in response to strong demand from EU customers for local currency support. The launch highlights Airwallex’s interest in the Nordic market while aligning with its wider expansion plans across Europe and the Middle East. Or Liban Or Liban, Vice President, Benelux & Middle East at Airwallex, said, “Enabling Nordic currencies for our issuing customers addresses one of the most frequent requests from our European customers. By enabling direct billing in Nordic currencies, we’re removing friction, reducing costs and making our product more local and relevant for businesses operating in the region and wanting to operate globally.”     Featured image: Edited by Fintech News Singapore, based on image by ilygraphic via Freepik The post Airwallex Strengthens EU Offering by Adding Nordic and Polish Currencies appeared first on Fintech Singapore.

Nium has rolled out Global Collections, a new offering aimed at allowing banks to provide their clients with local currency collection accounts in multiple international markets. This solution is designed to help financial institutions enhance their service capabilities for customers involved in cross-border trade and unlock new revenue streams by combining collections, FX conversion and payouts in a single platform. The service enables banks to issue customer-named accounts in local currencies across Europe, the UK, the US and Singapore, with support for the euro, Singapore dollar, US dollar and British pound at launch. More currencies are expected to be added over time. By offering local accounts, banks can give their clients the ability to collect funds directly in these markets and transfer money globally without relying on third-party fintechs. Global Collections is set up as a white-label product, meaning banks can integrate it under their own brand while maintaining direct relationships with customers. The platform brings collections, foreign exchange and payouts together, allowing banks to recapture FX margins often lost to fintechs on inbound cross-border payments. Customers, meanwhile, benefit from a one-stop-shop experience without additional onboarding. The service is powered by Nium’s virtual account infrastructure and APIs, which allow banks to open accounts, reconcile payments and move funds instantly. It can also be integrated into existing digital and branch banking systems. Ranaditya Palit “With Global Collections, we’re continuing to close the loop for banks, who are currently losing volumes to fintech providers. For years, Nium has helped banks and financial institutions power their payouts. Now, they can collect funds on behalf of their customers, settle in any currency, and capture the revenue opportunities of cross-border flows, all through our APIs.” said Ranaditya Palit, Head of Product at Nium. Global Collections adds to Nium’s broader suite of products for banks, which already includes global payouts, real-time foreign exchange and compliance infrastructure. The suite is designed to place banks on comparable rails to fintechs, with backing from Nium’s global network for security and transparency.   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Nium Unveils Global Collections to Help Banks Offer Local Currency Accounts Abroad appeared first on Fintech Singapore.

Visa is rolling out a new trial that lets businesses preload stablecoins into Visa Direct, sidestepping traditional funding delays. The pilot, announced at SIBOS 2025, is designed to speed up access to liquidity, add flexibility in managing cross-border payouts, and modernize treasury operations. Traditionally, international transfers require companies to set aside large fiat balances in advance, tying up capital and relying on slow, costly systems. By prefunding Visa Direct with stablecoins, institutions can make money available for payouts in minutes rather than days, while recipients continue to be paid in their local currencies. The pilot is aimed at banks, remittance providers, and other financial institutions that handle high volumes of international transactions. Visa said the approach could help reduce reliance on legacy systems, provide greater predictability in settlement, and support more stable treasury management by limiting exposure to local currency volatility. The programme will initially involve select partners that meet the pilot criteria, with limited availability expected by April 2026. Chris Newkirk “Cross-border payments have been stuck in outdated systems for far too long. Visa Direct’s new stablecoins integration lays the groundwork for money to move instantly across the world, giving businesses more choice in how they pay.” said Chris Newkirk, President, Commercial & Money Movement Solutions, Visa.     Featured image: Edited by Fintech News Singapore, based on image by sodawhiskey via Freepik The post Visa Pilots Stablecoin Prefunding Model for Faster International Payouts appeared first on Fintech Singapore.

Singapore Management University (SMU) has launched the Urban SustaInnovator (USI), a deep tech accelerator aimed at supporting startups focused on urban solutions and sustainability. The programme was introduced at the 12th Lee Kuan Yew Global Business Plan Competition (LKYGBPC), which this year drew 1,572 applications from 91 countries. Minister for National Development Chee Hong Tat officiated the launch, highlighting the accelerator’s role in anchoring promising startups in areas such as decarbonisation, energy transition, sustainable construction and mobility. The initiative is backed by a consortium of public and private partners including A*STAR, Antler, the Building and Construction Authority, ST Engineering, TRIREC and Wavemaker Partners. Sixty university-linked deep tech startups have been shortlisted as finalists for the competition and are currently in Singapore to pitch for a share of S$2.5 million in cash, mentorship and other support. The finalists will also gain access to the new accelerator, which offers a year-long programme with mentorship, industry connections and guidance on fundraising and commercialisation. SMU said the programme is designed to strengthen Singapore’s position as a hub for deep tech and to provide a pipeline of startups addressing sustainability challenges. Nearly 40 percent of ventures nurtured by SMU’s Business Innovations Generator incubator have worked on sustainability-related goals, raising more than S$1.15 billion over the past five years. The LKYGBPC, organised biennially by SMU’s Institute of Innovation and Entrepreneurship, has become one of the region’s key university startup competitions. The Grand Finals Week runs from 29 September to 2 October, with top teams competing for the Chancellor’s Cups and other prizes. Chee Hong Tat “Innovation is not just important; it is essential. This accelerator programme brings together venture capitalists, R&D experts, leading companies and public agencies to mentor promising urban solutions and sustainability startups. Participants will receive guidance on fundraising, market access, and R&D as you build and launch your ventures,” said Chee Hong Tat, Minister for National Development.     Featured image: (From left) Professor Lim Sun Sun, Vice President of Partnerships and Engagement, Singapore Management University; Professor Alan K L Chan, Provost, SMU; Minister Chee Hong Tat, Minister of National Development; Beth Henderson, Lead, Startup Programmes, The GEAR by Kajima; Khoo Teng Lip, Head, ST Engineering Ventures; Jonathan Cheng, Chief Technology Officer, Building and Construction Authority The post SMU Unveils Deep Tech Accelerator to Back Global Sustainability Startups appeared first on Fintech Singapore.

StraitsX has partnered with OKX SG and Grab to roll out OKX Pay, a service that allows users to make payments with stablecoins at GrabPay merchants across Singapore. The launch is being described as the country’s first scan-to-pay service using stablecoins. Through the OKX SG app, customers can settle purchases such as coffee or dining by scanning SGQR codes at GrabPay merchants. Transactions are settled instantly in USDT or USDC via StraitsX’s regulated infrastructure, while merchants receive Singapore dollars directly in their bank accounts. This removes the need to handle digital payment tokens and addresses both volatility and compliance concerns. StraitsX said its payment rails provide instant settlement, interoperability across partners and networks, and tangible benefits for consumers and merchants by reducing volatility risks. Gracie Lin OKX SG CEO, Gracie Lin said, “OKX Pay addresses real needs for Singaporeans by expanding DPTs’ use beyond trading and investing to everyday payments – from a morning coffee to dining out with friends. Through our partnership with Grab and StraitsX, two trusted and innovative companies, we’re taking a big step forward for Singapore’s payments landscape with our New Money App.” Tianwei Liu Tianwei Liu, StraitsX CEO & Co-Founder added, “The future of payments will be defined by trust, speed, and interoperability – and stablecoins are at the heart of this shift. StraitsX is building the rails that enable partners like OKX SG and Grab to bring digital money into everyday life, securely and at scale. The launch of OKX Pay is more than a new service but a blueprint for how stablecoins will underpin global commerce in the years ahead.” The partners said they plan to expand the service to support more stablecoins and digital currencies beyond USDT and USDC, and to add more retail, F&B, services, and everyday outlets. They also intend to extend StraitsX’s settlement network to cross-border payments to simplify remittances and support borderless commerce.     Featured image: Edited by Fintech News Singapore, based on image by StraitsX   The post StraitsX and OKX Enable Stablecoin QR Payments at GrabPay Merchants appeared first on Fintech Singapore.

Visa is taking its commercial payments platform mainstream, bringing its VCS Hub to issuers and fintechs worldwide after a pilot run. The hub offers end-to-end payables solutions, including full invoice and supplier payments, along with flexible ad hoc transactions to meet business needs. It also integrates with accounting systems to simplify workflows and give organisations a more efficient and secure way to manage payments. Visa said the platform will continue to evolve with additional features, including AI-driven automation of accounts payable, embedded payment functions within business applications, advanced analytics for better cash flow visibility, and personalised experiences that adapt to user needs. The company also noted the hub is designed to bring together previously fragmented systems into one platform, making commercial payments more accessible. Visa is inviting new issuers and fintechs to explore consultations on how the hub can support their payment needs. Gloria Colgan “Visa is not just modernising commercial payments, we’re reinventing them. With GenAI at the heart of the VCS Hub, we’re giving our partners the tools to amaze their clients, unlock new revenue streams and shape the future of money movement.” said Gloria Colgan, SVP and Global Head of Product, Visa Commercial Solutions.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Visa Rolls Out Commercial Payments Hub Featuring AI Tools appeared first on Fintech Singapore.

OpenAI and Stripe have introduced Instant Checkout in ChatGPT, a new feature that lets U.S. ChatGPT Plus, Pro, and Free users purchase items directly within the chat. The rollout marks an early step toward what the companies describe as agentic commerce, where AI agents help people complete transactions as seamlessly as they discover products. For now, users can buy from Etsy sellers in the U.S., with over a million Shopify merchants including brands such as Glossier, SKIMS, Spanx, and Vuori to follow. When a product supports Instant Checkout, shoppers can tap “Buy,” confirm shipping and payment details, and complete their order without leaving the conversation. Fulfillment, customer support, and returns remain with the merchant. At the core of this system is the Agentic Commerce Protocol, an open standard co-developed by OpenAI and Stripe to let AI agents interact with merchant backends. The protocol is being open-sourced to encourage wider adoption and is designed to work across platforms and payment processors while keeping merchants in control of payments and customer relationships. Security is built into the process. Users confirm each step of a purchase, and payments are handled using encrypted tokens authorised only for specific merchants and amounts. Only the data required to complete an order is shared with sellers. OpenAI said product rankings in ChatGPT remain organic and unsponsored, with no preference given to merchants offering Instant Checkout. The feature currently supports single-item purchases, with multi-item carts and expanded availability planned. Merchants pay a small fee on completed purchases, while the service is free for users. By releasing the Agentic Commerce Protocol as an open standard, the companies aim to encourage adoption across the industry. For shoppers, the change brings a smoother buying experience inside ChatGPT. For merchants, it opens a new channel to reach customers while continuing to use their existing systems. Will Gaybrick “Stripe is building the economic infrastructure for AI. That means re-architecting today’s commerce systems and creating new AI-powered experiences for billions of people. We’re proud to power Instant Checkout in ChatGPT and co-develop the Agentic Commerce Protocol to help businesses and AI platforms build the future of commerce.” said Will Gaybrick, President, Technology and Business, Stripe.   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post OpenAI and Stripe Launch In-Chat Shopping Feature for U.S. ChatGPT Users appeared first on Fintech Singapore.

Thunes has announced that it is now offering its Pay-to-Banks solution to financial institutions through their existing Swift connectivity. The new offering will allow the approximately 11,000 banks within the Swift network to connect to Thunes’ global network without requiring additional technical integration. This connectivity enables banks to send both business and consumer payments to a reported 4 billion bank accounts in over 130 countries, helping to meet the growing demand for real-time payments. Alongside this, Thunes has also expanded its Pay-to-Wallets solution, allowing financial institutions to send global business payments to mobile wallets via their Swift connection. This builds upon a 2024 service launch that enabled consumer payments to 3 billion mobile wallets. Elie Bertha, Chief Product Officer at Thunes, said the solutions offer easy integration for banks and enable instant and secure cross-border payments for end users, wherever they are. He added, Elie Bertha “Now, a person sending money to a loved one’s overseas bank account or a small business paying an international supplier can simply open their banking app and complete their transactions without delays.” Thunes’ SmartX Treasury System handles liquidity management for the services, while its Fortress Compliance platform provides risk controls. Chloe Mayenobe, President and COO at Thunes, stated that by extending the network’s accessibility via Swift, the company is enabling banks to deliver faster, secure payments across both traditional financial systems and emerging payment methods. Featured image by peshkovagalina via Freepik. The post Thunes to Offer Cross Border Payments to Banks via Swift Network appeared first on Fintech Singapore.

Singaporeans crossing into Johor will be able to redeem credit card rewards at the checkout, following UOB’s launch of a new cross-border feature. From today, UOB credit cardholders can use their UNI$ points to offset purchases at more than 150 outlets in Johor. The bank is said to be the first in Singapore to offer this capability, which comes amid rising travel and spending between the two neighbours. Visitor arrivals from Singapore to Malaysia rose more than 22 percent in the first half of 2025 compared with a year earlier. UOB data shows that card spending in Malaysia has grown about 40 percent annually between 2022 and 2024, with another 20 percent increase in the first half of 2025. Johor remains the top destination, making up nearly half of all spending in Malaysia during this period. Dining accounted for about 15 percent of card spending in Johor in the first half of 2025, while supermarkets and apparel followed at 10 percent and 9 percent respectively. Cardholders can redeem UNI$ at a rate of UNI$500 for S$5, or the equivalent in Malaysian Ringgit, at merchants such as Subway, Jean Yip and MOG Eyewear. Extra promotions include dining offers at Din Tai Fung, Oriental Kopi and Haidilao, RM5 off Grab rides in Johor and 25 percent off hotel bookings through Unravel. The new redemption feature builds on UOB’s wider cross-border offerings, such as the PRVI Miles and EVOL cards, the FX+ debit card with 0 percent foreign exchange fees, and Duitnow QR payments in Malaysia. Customers also have access to regional privileges through its UOB TMRW digital platform, including the Rewards+ programme that curates local and regional deals. Jacquelyn Tan Jacquelyn Tan, Head of Group Personal Financial Services at UOB, said, “Leveraging the bank’s strong presence in Malaysia, our new rewards capability opens a fresh avenue for our customers to stretch their rewards and experience greater value deals as they cross the border. This marks the next phase of our goal to create a borderless rewards ecosystem, providing our ASEAN customers with more choices, enhanced flexibility and greater value in how they spend, earn and redeem rewards overseas.”     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik The post Singapore UOB Users Can Now Use Rewards Points at 150+ Johor Merchants appeared first on Fintech Singapore.

Finastra has announced its new Intelligent Routing Module at the Sibos 2025 conference in Frankfurt, Germany. The solution is designed to provide banks and financial institutions with intelligent, data-driven payment routing to process transactions more efficiently. The module uses advanced algorithms to select the most efficient payment path for each transaction in real-time. It analyses factors such as cost, speed, available payment schemes, and regulatory requirements to determine the optimal route for mass payments, instant payments, and high-value cross-border transactions. According to Finastra, the system can achieve an upwards of 95% straight-through processing rate. Radha Suvarna “Our Intelligent Routing Module… [gives] banks the intelligence to route payments for maximum efficiency while meeting customers’ expectations for fast, seamless service,” said Radha Suvarna, Chief Product Officer for Payments at Finastra. The Intelligent Routing Module is available either as a standalone, system-agnostic package powered by microservices and open APIs, or as an integrated part of Finastra’s Global PAYPlus. Its open architecture allows banks to embed the solution into their existing payment initiation channels, orchestration systems, or payment engines. Finastra stated that it designed the solution to deliver a rapid return on investment and reduce the risks associated with large-scale system replacements. Featured image by DC Studio via Freepik. The post Finastra Unveils Intelligent Routing Module to Optimise Payment Processing appeared first on Fintech Singapore.

The Securities and Exchange Commission (SEC) has launched the TouristDigiPay sandbox, a pilot programme to let foreign tourists convert digital assets into Thai Baht for payments on goods and services in Thailand. Applications from digital asset business operators and e-money service providers opened on 25 September 2025. TouristDigiPay is designed to test the conversion of digital assets into Thai Baht for foreign tourists, supporting innovation, promoting economic growth and strengthening Thailand’s tourism sector. Regulations for the project took effect on 24 September 2025 after being published in the Government Gazette. Licensed digital asset exchanges, brokers or dealers that integrate with e-money service providers can apply, provided they are ready to operate under the format and criteria set by the SEC. Participants must obtain SEC approval before offering services, which are limited to foreign tourists temporarily residing in Thailand. They are required to enable spending via Thai QR code scanning, conduct identity verification in line with Anti-Money Laundering Office rules and only facilitate transactions in line with their licensed categories. Applicants must also submit required data to the SEC, verify the source of digital assets exchanged into Thai Baht, report information regularly and maintain an exit strategy in case of withdrawal from the project. Applications will be accepted until 26 December 2025. Details are available on the SEC website or emailing dassec@sec.or.th. Services under the project are expected to begin in the fourth quarter of 2025. Anek Yooyuen, SEC Deputy Secretary-General and spokesperson, said, “The TouristDigiPay sandbox is made possible thanks to collaboration from many regulatory agencies. The SEC supports technological development and innovation aimed at enhancing competitiveness. We believe this project will facilitate convenient spending through Thai QR Code scanning, promote Thailand’s digital economy, and distribute income across communities and localities, while effectively managing potential risks at appropriate levels.”     Featured image: Edited by Fintech News Singapore, based on image by wahyu_t via Freepik The post Thai SEC Seeks Operators for Digital Asset Payment Scheme appeared first on Fintech Singapore.

Swift is teaming up with more than 30 banks to build a blockchain ledger aimed at turning cross-border payments into a real-time, always-on service. The network said it is working with financial institutions from 16 countries to design the system, starting with a conceptual prototype developed with Consensys. Swift plans to complete this first phase quickly and define later phases once the proof of concept is complete. The shared ledger will record, sequence and validate transactions using smart contracts and will be built for interoperability with both established and emerging networks. It is intended to let banks move regulated tokenised value securely and at scale, while commercial and central banks decide which tokenised assets will flow across it. Participating banks include Absa, Akbank, ANZ, Banco Santander, Bank of America, Banorte, BBVA, BNP Paribas, BNY, Bradesco, Citi, Commerzbank, Crédit Agricole, DBS Bank, Deutsche Bank, Emirates NBD, First Abu Dhabi Bank, FirstRand Bank, HSBC, Itaú Unibanco, JP Morgan Chase, Mizuho, MUFG, NatWest, OCBC, Royal Bank of Canada, Saudi Awwal Bank, Shinhan Bank, Societe Generale-FORGE, Standard Chartered, TD Bank Group, UOB, Wells Fargo and Westpac. Swift also plans new services to connect digital and traditional systems, building on earlier pilots to coordinate transactions across private and public networks for synchronised settlement and liquidity optimisation. The initiative was announced at the Sibos conference in Frankfurt as part of Swift’s broader strategy to upgrade its current payment rails while developing future digital infrastructure. Last week, Swift also said it is drafting new scheme rules for its existing systems to make transfers faster and more predictable for consumers and small businesses. According to Swift, the ledger builds on two years of live digital asset trials and its neutral position in the global payments system to help banks adopt blockchain at scale. Financial institutions are providing feedback on the design ahead of wider implementation. Javier Pérez-Tasso Swift CEO Javier Pérez-Tasso said, “We provide powerful and effective rails today and are moving at a rapid pace with our community to create the infrastructure stack of the future. Through this initial ledger concept we are paving the way for financial institutions to take the payments experience to the next level with Swift’s proven and trusted platform at the centre of the industry’s digital transformation.”     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik   The post Swift to Build Blockchain Network With Global Banks for 24/7 Payments appeared first on Fintech Singapore.

Banking software company Temenos introduces a unified platform that uses AI to streamline payments, cut costs and enhance real-time screening for financial institutions. The new Money Movement & Management system unites payments, accounts, risk and treasury modules in one place to move money faster and more reliably. The platform helps new entrants launch services quickly while allowing established players to replace fragmented systems. Its AI tools include automated payment repair, fraud detection and copilot features to minimise manual intervention and improve straight-through processing. Temenos’ FCM AI Agent is built in to boost real-time screening and cut false positives. Integration accelerators enable rapid onboarding of digital wallets and alternative payment networks such as Wise, Thunes, Mastercard Move, Visa Direct and Standard Chartered Scale. Temenos noted that FINCI, an electronic money institution regulated by the Bank of Lithuania, went live on the platform within four months. Industry analysts said the platform addresses long-standing challenges in payments where outdated systems slow innovation and customer service. FINCI’s chief executive added that the system supports the company’s growth by processing thousands of payment requests a second, onboarding new payment providers in weeks and ensuring a fast, flexible and reliable service. Barb Morgan Barb Morgan, Chief Product and Technology Officer at Temenos, said, “With the rapid rise of instant payments and the growing influence of AI in financial services, institutions are actively seeking solutions that are both unified and intelligent to manage increasing complexity, compliance demands, and customer expectations. Temenos Money Movement & Management directly addresses this market need, bringing together payments and account services in a single, AI-powered solution. Building on the success of Temenos Payments Hub, our leading and functionally rich payment hub used by banks worldwide, this new solution further strengthens our position as a trusted innovator in the payments space.” Temenos said the platform is ISO 20022 and Open Banking ready, available globally as SaaS or for deployment on cloud, on-premises or hybrid environments.     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Temenos Unifies Payments, Risk, and Treasury in New AI-Driven Platform appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) and four major banks have tested quantum technology to protect critical financial data from future cyber threats and have now published the results. MAS worked with DBS, HSBC, OCBC, UOB, SPTel and SpeQtral to run a proof-of-concept sandbox in two phases. The first ran from September to November 2024 with DBS and OCBC, and the second from January to March 2025 with HSBC and UOB. The project trialled Quantum Key Distribution (QKD) on Singapore’s National Quantum-Safe Network Plus infrastructure to evaluate how it could secure sensitive data transfers between banks and the regulator. The sandbox deployed isolated QKD stacks to encrypt and decrypt settlement files between the banks and MAS, while measuring metrics such as Secure Key Rate and Quantum Bit Error Rate. It also simulated eavesdropping attacks and fibre disconnections. The system maintained secure operations during outages by drawing on a buffer of 6.75 million AES-256 keys per day, enough to sustain up to 2.5 months of encrypted operations. MAS and the banks tested advanced use cases including ML-DSA for digital signing, a hybrid VPN tunnel combining QKD with ML-KEM and Classic McEliece, and large-scale file transfers using one-time pad encryption. The technical report shows QKD’s potential to strengthen the security of inter-data centre links, critical payment systems and bank-to-regulator communications. It also identifies challenges including the need for stronger trusted node standards, greater interoperability between QKD providers and sustained senior management support to allocate budget, talent and resources to quantum-safe initiatives. Industry participants welcomed the findings, saying the project clarified security standards, implementation challenges and the integration of quantum-safe technology into existing financial infrastructure. MAS will continue collaborating with financial institutions and technology providers to develop frameworks, standards and implementation playbooks for quantum-safe communications. Vincent Loy Vincent Loy, Assistant Managing Director (Technology) and Chief Technology Officer, MAS, said, “MAS is committed to collaborating with the financial industry to trial promising cybersecurity technologies that can help to safeguard critical financial systems and data against emerging quantum threats. The QKD sandbox marks a significant step in exploring the potential use of quantum-safe solutions within IT systems and networks within the financial sector. The insights gained have enhanced our understanding of QKD technology, helped explore possible ways to strengthen the cyber resilience of Singapore’s financial sector, and uplifted the capabilities of financial institutions to respond to potential cybersecurity threats posed by quantum computing.”     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Singapore Maps Out Next Steps for Quantum-Safe Banking After Two-Phase Trial appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) will appoint Abigail Ng as its new Chief Sustainability Officer from 6 October 2025. She will take over from Gillian Tan, who has held the sustainability portfolio alongside her role as Assistant Managing Director for Development and International since October 2022. Tan will continue as Group Head of the Development and International Group. During Tan’s tenure, MAS advanced a suite of sustainability initiatives. These included the Finance for Net Zero Action Plan to mobilise financing for Asia’s low-carbon transition and the Singapore-Asia Taxonomy to align sustainable finance standards. MAS also launched the Transition Credits Coalition (TRACTION) and the Financing Asia’s Transition Partnership (FAST-P) to drive energy transition and blended finance in the region. It also introduced the Sustainable Finance Jobs Transformation Map to build sector skills. MAS said its sustainability agenda has reached a more mature stage, making it timely to appoint a dedicated Chief Sustainability Officer to lead the Sustainability Group. Ng, currently head of the Markets Policy and Consumer Department, has extensive experience working with international organisations and diverse stakeholders on sustainability disclosure policies and requirements. Her appointment underscores MAS’ intent to strengthen its leadership in sustainable finance and guide the sector through Asia’s transition to a low-carbon economy.     Featured image: Edited by Fintech News Singapore, based on image by komodo via Freepik The post Abigail Ng to Lead MAS as Its First Dedicated Chief Sustainability Officer appeared first on Fintech Singapore.