Global investment company Temasek is restructuring to sharpen its focus on three distinct portfolio segments as it prepares for shifting global conditions. From April 2026, the state investor will separate its portfolio into global direct investments, Singapore-based portfolio companies, and partnerships and funds. These will be managed by three new wholly owned entities: Temasek Global Investments (TGI), Temasek Singapore (TSG), and Temasek Partnership Solutions (TPS). TGI will oversee global direct investments, TSG will manage Singapore-based portfolio companies, and TPS will handle partnerships, funds, and asset management. The changes form part of Temasek’s T2030 strategy, the latest in a series of decade-long roadmaps since the 2000s. The firm said the new entities will better align resources with strategy while strengthening overall portfolio resilience. Leadership changes will support the transition. Chia Song Hwee becomes Co-CEO of Temasek International on 1 October 2025, alongside CEO Dilhan Pillay. From April 2026, Chia will also serve as CEO of TGI and Deputy Chairman of TI, TSG, and TPS. Pillay will chair all four entities while remaining Executive Director and CEO of Temasek Holdings. Other appointments include Nagi Hamiyeh as President of TGI and Png Chin Yee as President of TSG, both concurrent with their current roles. Seviora Holdings, Temasek’s asset management arm with over S$90 billion under management, will work with TPS to review existing businesses and explore new asset management companies. Its CEO Gabriel Lim will lead the effort, with Pillay set to become Chairman of Seviora’s Board on 1 September 2025. Lim Boon Heng Lim Boon Heng, Chairman, Temasek Holdings, said, “Our portfolio has evolved and grown significantly over the last two decades. As we continue our journey, these changes will enable Temasek to navigate and operate effectively, positioning it to be future-ready. We must remain steadfast in our commitment to do well, do right, and do good. By harnessing our collective strengths, we act today with tomorrow in mind, so every generation prospers.” Dilhan Pillay Dilhan Pillay, Executive Director and CEO, Temasek Holdings, said, “Temasek must stay agile to sense the pathways ahead and what could possibly be around the corner, adapt to the emerging realities, and perform with resilience in an ever-changing landscape. This next step in our T2030 strategy will position us strongly for growth, by enabling us to stay laser-focused on scaling our three segments and building a resilient and forward-looking portfolio.”       The post Temasek to Split Portfolio Into Three Segments From April 2026 appeared first on Fintech Singapore.

Binance has appointed SB Seker as its new Head of Asia-Pacific (APAC), where he will oversee regional strategy, operations, and regulatory engagement across the region. Seker has more than 20 years of experience spanning the public sector, traditional finance, fintech, and digital assets. His expertise covers legal, compliance, and market access, along with a strong record of leadership. Before joining Binance, he served as Senior Vice President at Crypto.com Group, where he managed global product development and handled legal and regulatory matters for APAC and MENASA. He has also held senior legal roles at Ant Group, Rothschild & Co, and Amicorp Group. Earlier in his career, he worked as a litigator in Australia and later as a central banking lawyer at the Monetary Authority of Singapore. In his new role, Seker will oversee Binance’s operations in APAC, cultivate strategic partnerships, and drive market adoption. A key part of his mandate will be to work with policymakers and regulators, supporting the company’s efforts to strengthen compliance in the region. Richard Teng Richard Teng, CEO of Binance, said, “APAC has always been a key region for Binance, and Seker’s deep-rooted experience across its diverse markets makes him uniquely positioned to lead the company’s next phase of regional growth and engagement.” SB Seker SB Seker added, “I’m truly excited to join Binance to help shape a sustainable, innovative, and compliant future for the digital- asset ecosystem across the region alongside the talented team. By working closely with regulators, partners, and our broad community, I look forward to driving strategic initiatives and delivering robust operations throughout the region.”     Featured image: Edited by Fintech News Singapore, based on image by we3yanie via Freepik The post SB Seker Appointed to Lead Binance’s APAC Operations appeared first on Fintech Singapore.

QCP Trading has joined the ranks of licensed digital asset firms in Singapore after receiving a Major Payment Institution license from the Monetary Authority of Singapore. The approval follows an in-principle clearance in November 2024 and allows QCP Trading to provide over-the-counter spot trading of digital payment tokens to institutional clients. Its services include multi-currency on- and off-ramping, voice trading, API connectivity, and same-day settlement with local banking partners. Parent company QCP Group said it has expanded its Singapore team by about 40 percent year on year, with new hires across compliance, operations, and client coverage. Founded in 2017, QCP Group offers derivatives, spot trading, and structured products to institutional, professional, and accredited investors. It is headquartered in Singapore and also operates an office in Abu Dhabi. Darius Sit Darius Sit, Founder of QCP Group, said, “The granting of the MPI license for our spot DPT trading arm reflects our unwavering commitment to regulatory integrity and our mission to build the most trusted institutional trading platform in digital assets. This milestone enables us to deepen our roots in Singapore’s financial ecosystem, while delivering compliant, and seamless services to clients across the region and globally.” Melvin Deng Melvin Deng, Chief Executive Officer of QCP Trading, said, “Singapore continues to lead with forward-thinking digital asset regulation. Being licensed under MAS positions QCP Trading to meet the growing institutional demand for trusted DPT services.”       Featured image: Edited by Fintech News Singapore, based on image by lifeforstock via Freepik The post QCP Greenlit by MAS to Offer Regulated Crypto OTC Trading in Singapore appeared first on Fintech Singapore.

Indian multinational tech company Infosys has announced a collaboration with Mastercard to expand access to Mastercard Move, the payments company’s portfolio of money movement services. The partnership will integrate Mastercard Move with Infosys Finacle, the banking platform of EdgeVerve Systems, a subsidiary of Infosys. This will allow financial institutions to connect with Mastercard’s cross-border capabilities in less time and with fewer resources than traditional integration projects. Mastercard Move supports banks, non-bank financial institutions and direct disbursers in transferring funds securely across borders. The service covers more than 200 countries, supports over 150 currencies and reaches more than 95 percent of the world’s banked population. Pratik Khowala Pratik Khowala, EVP and Global Head of Transfer Solutions at Mastercard, said, “The strategic collaboration with Infosys provides financial institutions with easy access to these capabilities, enabling them to facilitate fast, secure and reliable cross-border payments for their customers while enhancing control of risk, operations, costs and liquidity for themselves. Together with Infosys, we’re helping financial institutions deliver the seamless digital payments experiences today’s customers expect.” Dennis Gada Dennis Gada, EVP and Global Head of Banking and Financial Services at Infosys, added, “Financial institutions are prioritizing advancements in digital payment systems. The frequency of daily transactions makes it a primary touchpoint with customers — and the key to building long-term loyalty. Consumers gravitate toward institutions that offer fast, secure and seamless transaction experiences. Our collaboration with Mastercard to enable near real-time, cross-border payments is designed to significantly improve the financial experiences of everyday customers.” The integration is expected to help banks respond to growing demand for digital payments and remittances, particularly in Asia, which accounts for nearly half of global inflows.     Featured image: Edited by Fintech News Singapore, , based on images by wayhomestudio and K illustrator Photo via Freepik The post Infosys and Mastercard Partner to Streamline Cross-Border Payments appeared first on Fintech Singapore.

Straits Millennium has received a Major Payment Institution license from the Monetary Authority of Singapore, clearing the way for it to offer regulated digital payment token services. The license, granted under the Payment Services Act 2019, follows an earlier in-principle approval from MAS. It allows the company to provide a regulated platform for exchanging digital payment tokens and fiat currencies, with competitive trade execution, adherence to industry best practices, and a focus on compliance, security, and institutional-grade risk management. Straits Millennium is a subsidiary of Straits Financial Group, which operates globally in commodities, derivatives, and financial brokerage. The approval extends the group’s services into the digital asset space, enabling businesses and institutional investors to participate in digital asset transactions through a regulated provider. Jeremy Ang Jeremy Ang, Group CEO of Straits Financial Group, said, “This is a key milestone for the Group to strengthen its offerings in bespoke financial services to our esteemed clients. Our clients increasingly seek professional access to digital assets to complement their trading and investment goals. With our deep expertise in derivatives, commodities, and institutional financial services, we are well-positioned to deliver best-in-class digital asset services to the market.” Chew Min Wei Chew Min Wei, Head of Digital Assets at Straits Millennium, added, “We have built strong, lasting relationships with our clients in traditional finance, and now we are bringing that same client-centric approach to digital assets.”       Featured image: Edited by Fintech News Singapore, based on image by EyeEm via Freepik The post Straits Millennium Cleared by MAS to Provide Crypto Payment Services appeared first on Fintech Singapore.

MariBank is rolling out new safeguards to protect customers’ cards, with phishing scams stripping at least S$59.4 million from victims last year as tactics grow more sophisticated. The bank has introduced an in-app verification step that follows the SMS one-time password. Customers must explicitly confirm any attempt to link their card to a digital wallet, making it harder for scammers to misuse stolen details for unauthorised transactions. A second feature, Money Lock, lets customers set aside part of their savings so the funds cannot be withdrawn without extra checks, even if an account is compromised. Unlocking requires SingPass Face Verification and a 12-hour cooling period, with additional verification in some cases. Money placed in Money Lock continues to earn interest at the prevailing Mari Savings Account rate. According to police data, fraudsters often use fake e-commerce sites or phishing links to trick victims into handing over card details and OTPs. These are then used to attach cards to digital wallets and make fraudulent payments. MariBank, wholly owned by Sea Limited and licensed by the Monetary Authority of Singapore, said the measures were developed in collaboration with authorities. Natalia Goh Natalia Goh, CEO of MariBank, said, “At MariBank, protecting our customers’ hard-earned money is our top priority. These new safeguards, developed in close collaboration with authorities, reflect our commitment to staying one step ahead of bad actors. We will continue to innovate and build features that give our customers greater peace of mind when banking digitally.”     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik   The post MariBank Introduces Money Lock Feature as Phishing Threats Grow appeared first on Fintech Singapore.

Ant Group’s net profit fell about 60 percent in the quarter ended 31 March as the Chinese fintech expanded abroad and increased spending on artificial intelligence (AI) to drive growth, Bloomberg reported. Alibaba’s filings, which record Ant with a one-quarter lag, indicate Ant earned roughly 4.74 billion yuan, or about US$663 million, in the period. Alibaba recognised around 1.5 billion yuan as its share of Ant’s profit, consistent with its one-third stake. The drop followed a year-on-year decline of about 31 percent in the prior quarter. Ant’s Singapore-based international unit generated nearly US$3 billion in revenue in 2024, a performance that has fueled expectations of a potential listing of the overseas division in Hong Kong. The company is also investing in AI across products and infrastructure. Reports say Ant has trained large models on domestically produced chips and is pursuing efficiency gains alongside new services in areas such as healthcare. Ant continues to navigate the aftermath of China’s regulatory crackdown that halted its 2020 mega-IPO, which once targeted a valuation near US$280 billion. A 2023 share buyback valued the group at about US$79 billion. Any renewed listing remains subject to regulatory outcomes, with Bloomberg previously reporting that the company would explore Hong Kong first, and Ant earlier cautioning against premature IPO speculation.     Featured image: Edited by Fintech News Singapore, based on image by Freepik     The post Ant Group Profit Falls 60% in March Quarter on AI and Expansion Costs appeared first on Fintech Singapore.

In Southeast Asia, regulators are tightening their oversight of financial services marketing, placing financial institutions under pressure to monitor agent behavior, mitigate misinformation, and maintain brand trust. A new paper by Meltwater, an online media, social and consumer intelligence company from Norway, looks at how regulators are cracking down on unethical behavior such as misleading advertising and high-pressure sales tactics, highlighting recent regulatory developments amid the surge of financial influencers (finfluencers). In Malaysia, Securities Commission (SC) released in March 2025 a revised version of its Guidelines on Advertising for Capital Market Products and Related Services, taking into account evolving global and domestic trends, including the rise of social media. The revised framework, which aims to ensure responsible advertising activities in relation to capital market products and services, introduces new requirements for finfluencers who are not engaged as marketing agents by an advertiser but yet promote capital market products. It also strengthens advertisers’ responsibilities to ensure compliance by their agents, establishes rules on the use of social media for financial promotions, and prohibits advertising services in Malaysia by persons not authorized by the SC. The framework will come into effect on November 01, 2025, Indonesia also introduced a new regulation this year through the Financial Services Authority, aiming to consolidate and modernize rules for securities underwriters and brokers, while also introducing a new category of regional securities companies. Taking effect on December 11, 2025, the regulation notably formalizes the use of social media influencers as a legitimate promotional channel, but outlines clear models of collaboration. It particular, it requires written agreements and compliance with licensing standards, and puts restrictions on influencer activities. Among other things, social media influencers may act as advertising platform and/or share information about the capital market, but they cannot invite prospective customers to become customers of PPE and PED, and are not permitted to offer any personal assessments or analysis. Financial institutions must also ensure that their influencer partners meet all applicable qualification and licensing requirements in accordance to the selected collaboration model. In Singapore, the Monetary Authority of Singapore (MAS) requires financial institutions to ensure that advertisements are fair, balanced, and not misleading. Product advertisements are to be clear and legible to ensure that financial advertisements convey accurate information. These measures aim readability and understanding by the consumer, and facilitate more transparent and ethical advertising. MAS also prohibits the advertisements of virtual assets through any public channel, including television, social media, and physical billboards, citing the high risks of cryptocurrencies, which are unsuitable for the general public due to their volatility. Crypto services providers are also prohibited from marketing through third parties, including social media influencers. This trend extends across the broader APAC region. In Hong Kong, for example, the Insurance Authority (IA) introduced in 2024 tighter regulations, strengthening ethical conduct from companies across its insurance sector to ensure fairer treatment and strong protection of insurance customers, particularly in the sale of long-term and medical insurance policies. The IA’s guidelines set requirements on product design, disclosure of clear and adequate information, financial needs analysis, benefit illustrations, policy replacement, cooling-off periods, and the use of gifts in promotions. It also mandates post-sale controls and appropriate remuneration structures to minimize conflicts of interest. The rise of finfluencers and accompanying risks Finfluencers are social media influencers who offer advice and information on various financial topics, including saving, investing, and cryptocurrencies. They use social media platforms like YouTube, TikTok, and Instagram to offer advice in quick, engaging and easy-to-digest content forms, focusing on simplifying complex financial concepts. Though finfluencers have helped make intricate subjects more accessible and raise awareness about personal finance, their rise has also introduced significant risks. Unlike licensed investment advisors who must register with regulators and meet professional qualifications, finfluencers bypass these requirements. Furthermore, finfluencers generate income through unrelated incentives such as platform monetization, brand promotions, or affiliate marketing, whereas financial advisors typically earn fees or commissions tied to client services. Hence, their focus is often on growing their online presence rather than protecting client interests. High-profile cases illustrate these risks. In 2022, reality star Kim Kardashian was fined US$1.26 million by the US Securities and Exchange Commission (SEC) for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Football player Tom Brady and NBA star Shaquille O’Neil had also promoted FTX before the crypto trading platform collapsed. And yet, reliance on social media for financial advice continues to grow. A 2024 MoneySmart survey of 2,000 adults in Hong Kong and Singapore found that 52% relied on social media as their primary source of financial advice, ahead of family, friends, financial advisors, and books. Platforms such as YouTube, Instagram and Facebook emerged as the most popular for accessing financial insights. Nearly half (43%) of those surveyed said social media improved their financial knowledge, with 19% using it daily to seek financial tips and advice. Yet, the risks are real. Almost 1 in 5 (18%) respondents lost money on investments influenced by online advice, and a further 14% fell victim to financial scams after following social media recommendations. Among those who followed social media advice, 9% reported substantial financial losses.   Featured image: Edited by Fintech News Singapore, based on images by aukid and freepik via Freepik The post The Rise of Finfluencers: Unpacking Compliance Risks in Southeast Asia’s Financial Landscape appeared first on Fintech Singapore.

“AI has fully defeated most of the ways that people authenticate currently.” A warning that Sam Altman, CEO of OpenAI said at a Federal Reserve conference this July. He didn’t say it at a tech event in Silicon Valley, but in front of regulators who oversee the stability of the financial system. For centuries, fraud relied on human gullibility. In 2025, it’s powered by machines that can fake your voice, your face, and even your identity with unsettling precision. Fraudsters have now industrialised what once depended on a forged signature or a convincing lie. With only a few seconds of someone’s speech, a scammer can create a voice clone that sounds indistinguishable from the real person. With a set of images pulled from LinkedIn, they can build a deepfake avatar capable of joining a Zoom call. This is the crisis that Altman wanted the Fed to understand. And judging by the bluntness of his language, he knows it is not a distant hypothetical but a present-day problem. A Crisis in the Numbers The financial fallout is already staggering. In 2024, scams drained more than US$12.5 billion from consumers, a jump of 25% from the year before. Nearly half of all fraud attempts in the financial sector now involve AI in some form. And it is not just the sheer volume of attempts that worries experts, but their success rate. Almost a third of AI-driven fraud attacks bypass existing security measures. Deepfakes in particular have exploded, with incidents growing more than tenfold between 2022 and 2023. One British engineering firm learned this the hard way when an employee was tricked into wiring US$25 million after a video call with what appeared to be the company’s CFO and senior executives. Every one of them was a synthetic fabrication. Despite this, preparedness is shockingly low. Only 22% of financial institutions have invested in AI-powered defences of their own. Eight out of ten companies have no plan at all for handling deepfake attacks. Consumers are equally vulnerable. Most people admit they cannot tell the difference between a real voice and an AI-cloned one. Acting as Both The Prophet and the Profiteer The genius, and the horror, of AI fraud is that it no longer needs to exploit software vulnerabilities. Instead, it exploits human ones. A cloned voice asking a grandparent for urgent bail money feels more real than any phishing email. A boss on a live video call insisting on an emergency transfer is harder to question than an email attachment. What we are witnessing is not simply more fraud, but a change in its nature. The battlefield has shifted from systems to psychology, from code to cognition. Scammers do not need to break into your bank account if they can convince you to open it for them. Sam Altman’s warning has also stirred an uncomfortable debate. On the one hand, his message is clear and urgent. The foundations of digital trust are cracking under AI’s weight. On the other hand, critics argue that it is a fire his own company helped light. OpenAI and its peers built the very tools now being weaponised, and some even accuse Altman of playing both the prophet and the profiteer, issuing warnings about the dangers while selling the technology that fuels them. There is also a suspicion that calls for stricter regulation conveniently benefits the largest players. Complex rules are easier for giants to comply with than startups, raising the spectre of regulatory capture. Whether altruistic or strategic, the fact remains that policymakers are now being pushed to act, and fast. Fighting Back Defences are emerging, though they are uneven. Banks are experimenting with AI to monitor transactions in real time, spotting unusual behaviour before losses mount. Regulators in the United States are rolling out new rules to address impersonation scams, while the European Union is moving towards government-backed digital identity wallets. At the corporate level, some companies are ditching outdated biometric checks and replacing them with layered security systems that verify not only who you are, but how you behave online. Training employees to distrust even convincing requests is becoming just as important as any piece of software. And for individuals, the advice is as unglamorous as it is effective. Hang up and call back. Verify before you trust. Share less of your voice and face online. Some families have even introduced “safe words” to confirm identity during emergency calls. Low-tech solutions still matter in a high-tech fraud world. What AI fraud is really stealing is not just money, but certainty. The certainty that the voice on the phone is your child. The certainty that the person on screen is your boss. The certainty that seeing and hearing are enough. Suddenly, in this “new” world, certainty must be earned, not assumed. If this feels like the kind of issue you’d like to unpack further, Fintech News Singapore is running a webinar on September 9, 2025, called How AI is Transforming FSI’s Approach to Fraud. It’s worth tuning in if you want to hear how the people on the frontlines are thinking about what comes next. Head over to register. Featured image by TechCrunch via Wikimedia Commons. The post The AI Fraud Crisis That the CEO of OpenAI Wants Us to See appeared first on Fintech Singapore.

Payments solution provider BPC and Visa are bringing a new level of flexibility to Vietnam’s payments scene, allowing cardholders to toggle between debit, credit, installments, or rewards on a single card. The launch, supported by BPC’s SmartVista platform, is among the first Visa Flexible Credential rollouts in Vietnam. It allows financial institutions to issue cards that let consumers instantly choose how they want to pay, whether through debit, credit, Buy Now Pay Later installments such as pay-in-four, or by redeeming rewards points. The initiative is part of BPC’s wider collaboration with Visa to accelerate digital payment transformation across Asia Pacific, beginning with Vietnam. Alongside greater choice, the technology is also designed to simplify multi-currency transactions, support better budgeting, enable smarter use of rewards, and improve spend management. Following the Vietnam rollout, BPC and Visa plan to extend Flexible Credential deployments to other markets in the region in the coming months. Peter Theunis Peter Theunis, SVP Sales, BPC, said, “Vietnam is one of the fastest-growing digital economies in Asia. Being among the first issuer processors worldwide to certify and launch Visa Flexible Credential is a milestone for us. SmartVista’s microservices architecture means we can enable the service swiftly for any bank in Vietnam and the region, helping issuers bring dynamic, customer-centric propositions to their market.”   The post BPC and Visa Enable Vietnam Cardholders to Switch Between Debit, Credit, BNPL appeared first on Fintech Singapore.

Da Nang has cleared Basal Pay, a crypto-to-fiat conversion platform developed by AlphaTrue Solutions JSC, to operate in the city’s controlled fintech sandbox, The Investor Vietnam reported. AlphaTrue, a member of the Vietnam Blockchain and Digital Asset Association, designed Basal Pay to comply with global standards. The platform incorporates the Financial Action Task Force’s Travel Rule, requires sender and recipient information for each transfer, and uses three levels of identity verification. It also automatically transmits transaction data and stores records for five years, giving regulators stronger oversight tools. Basal Pay allows crypto-to-fiat conversion in seconds, eliminating intermediary steps and aiming to reduce transaction costs by about 30 percent compared with traditional channels. The system is built on a blockchain foundation, which AlphaTrue says enhances both efficiency for users and transparency for authorities. The sandbox approval grants Basal Pay a three-year trial divided into five stages: platform development, limited release, expansion, evaluation, and potential full rollout. Oversight will be provided by Da Nang’s Department of Science and Technology together with city authorities to ensure compliance and test integration with the broader financial system. According to the National Statistics Office of Vietnam, Da Nang received nearly 11 million visitors with service revenue of VND 18 trillion (about US$682.7 million). OneFin Vietnam, AlphaTrue’s technology partner, said the project could improve the payment experience for foreign tourists while contributing to the creation of a more modern and sustainable digital financial ecosystem. Under National Assembly Resolution 222, both Da Nang and Ho Chi Minh City have been assigned to establish international financial centers under special policy frameworks. Vietnam is currently ranked fifth worldwide in cryptocurrency adoption, with more than 17 million users. Much of this activity operates without formal supervision, raising concerns about fraud, money laundering, and lost tax revenue. Sandbox projects such as Basal Pay are expected to help Vietnam experiment with digital finance while reinforcing risk management.     Featured image: Edited by Fintech News Singapore, based on image by isaac1112 via Freepik The post Vietnam Greenlights Crypto-to-Fiat Sandbox Trial in Da Nang appeared first on Fintech Singapore.

KuCoin has announced that it will be the first global crypto exchange to support Thailand’s G-Token program, a government initiative to issue tokenised sovereign bonds. The program is described as the world’s first publicly offered tokenised government bond and also marks Thailand’s first government bond listed on a digital asset exchange. The project is being developed by a consortium that includes XSpring Digital, KuCoin Thailand, SIX Network, and Krungthai XSpring. KuCoin Thailand, which is licensed by the Securities and Exchange Commission of Thailand, will be among the first platforms to facilitate subscription, redemption, and listing of the G-Token. Subject to regulatory approval, KuCoin also plans to make the token available on its global platform. The G-Token, or “Government Digital Bond,” is a tokenised real-world asset issued by the Ministry of Finance under the Public Debt Management Act. Unlike cryptocurrencies, it is backed by the government and offers institutional and retail investors access to sovereign bonds, with principal and interest payments guaranteed by the ministry. The initiative is intended to lower barriers to investing in government securities, which have traditionally required high minimum purchase amounts. By tokenising bonds on blockchain, the G-Token aims to expand participation, improve transparency, reduce operational costs, and create liquidity through secondary market trading. KuCoin and its Thai entity will provide technical support and help develop secondary market activity. The exchange has also committed to advising on international expansion, linking Thailand’s initiative with global capital markets. BC Wong BC Wong, CEO of KuCoin, said, “KuCoin has always been committed to bridging traditional finance with the crypto world through secure and innovative solutions. Supporting Thailand’s Ministry of Finance and XSpring on the world’s first sovereign tokenised bond demonstrates our leadership in RWA adoption. We are proud to be the first and the only global exchange to support the G-Token, which sets a global benchmark for financial innovation and inclusion.”     Featured image: Edited by Fintech News Singapore, based on image by tawatchai07 via Freepik The post KuCoin First Global Crypto Exchange to Support Thailand’s Tokenised Govt Bond appeared first on Fintech Singapore.

Atlas Consolidated has raised US$18.1 million in a Series B funding round led by Singapore-based venture capital firm Tin Men Capital. The round also saw participation from existing investors Getz, Inc. and Woodside Holdings Investment Management. The Asia-based Banking-as-a-Service provider said the investment will be used to accelerate the expansion of HugoHub, its modular, cloud-native digital banking platform. HugoHub, which originated in Singapore, is being deployed in both emerging and developed markets. The platform is designed to help financial institutions modernize their infrastructure without large-scale system replacements. Atlas says it can cut technology spending by up to 90%, reduce operating expenses by 75–80%, and support financial inclusion by lowering the cost of delivering modern banking services. Jeremy Tan Jeremy Tan, Co-Founder and Managing Partner of Tin Men Capital, said, “Tin Men Capital is proud to support Atlas Consolidated as they scale this next-generation approach, helping more forward-leaning banks in their digitalisation journey. Built in Southeast Asia and designed to be deployed globally, Atlas’ solution exemplifies the kind of ambitious innovation we are excited to back in our region,” said Jeremy Tan, Co-Founder and Managing Partner of Tin Men Capital. David Fergusson David Fergusson, Chief Executive Officer, Atlas Consolidated, said, “This investment marks a pivotal step in our mission to build better banks through technology. With Tin Men Capital’s support, we can accelerate HugoHub’s expansion to new markets, helping traditional financial institutions create more efficient, inclusive and sustainable systems.”     Featured image: Edited by Fintech News Singapore, based on image by digitizesc via Freepik     The post Atlas Consolidated Raises US$18.1 Million in Series B Funding Round appeared first on Fintech Singapore.

Osome, a fintech platform providing business and financial management tools, has promoted Helena Flores to Chief Operating Officer (COO). Flores, who previously served as Vice President of Operations, has been with the company for six years. She joined during its early startup days when it operated in a single market and has since played a key role in scaling Osome’s operations across multiple regions. Her contributions have included leading automation rollout, building compliance infrastructure, and strengthening customer delivery. Victor Lysenko “Helena’s contribution in our business has been impactful. She’s transformed our multi-market operations to raise efficiency and strengthen collaborations that enable Osome to deliver differentiated experiences to customers. This new role recognises our confidence in her ability to support our business growth and development through multi-market cross-functional collaboration and synergies.” said Victor Lysenko, CEO of Osome. Helena Flores “I’ve been part of Osome’s journey since we were a small, fast-moving team, and I’m proud to see how far we’ve come. This role is not just a title change, it’s a continuation of the mission I’ve believed in from day one: to build secure, founder-first systems that scale with trust and purpose.” said Flores.     Featured image: Edited by Fintech News Singapore, based on image by faahadkhan via Freepik The post Osome Promotes Helena Flores to COO After Driving Multi-Market Expansion appeared first on Fintech Singapore.

Finastra, a global financial software provider, is plugging Circle’s USDC stablecoin into its payments hub, giving banks a new way to settle cross-border transfers in near real time. The integration will run through Global PAYplus (GPP), the first Finastra solution to connect banks to Circle’s payment infrastructure. Finastra says GPP customers process more than US$5 trillion in cross-border transactions daily. Banks will be able to settle in USDC even when payment instructions on both sides remain in fiat currency. The option is intended to reduce reliance on correspondent banking chains, accelerate settlement, maintain existing compliance and FX processes, and lower the cost of international transfers. USDC is a regulated, fully reserved stablecoin designed for transparent, near-instant settlement. Chris Walters “This collaboration is about giving banks the tools they need to innovate in cross-border payments without having to build a standalone payment processing infrastructure. By connecting Finastra’s payment hub to Circle’s stablecoin infrastructure, we can help our clients access innovative settlement options.” said Chris Walters, CEO of Finastra. Jeremy Allaire “Finastra’s reach and expertise in powering the payments infrastructure for leading banks worldwide makes them a natural choice to further expand USDC settlement in cross-border flows. Together, we’re enabling financial institutions to test and launch innovative payment models that combine blockchain technology with the scale and trust of the existing banking system.” said Jeremy Allaire, Co-founder, Chairman and CEO of Circle. Circle had recently announced a partnership with Mastercard on a pilot in Europe, the Middle East, and Africa to explore USDC settlement for cross-border payments.     Featured image: Edited by Fintech News Singapore, based on image by stockboy via Freepik The post Finastra and Circle Open Door for USDC Stablecoin Use for Faster Settlements appeared first on Fintech Singapore.

Nobel Prize-winning scientist, Albert Szent-Györgyi, once said that innovation is seeing what everybody has seen and thinking what nobody thought. His words feel fitting when I was scanning through Forbes Asia’s latest 100 To Watch list. Because if you look closely, some of the most exciting shifts in finance aren’t happening in the glass towers of New York or London, but in co-working spaces and startup hubs from Jakarta to Karachi. Now in its fifth year, the 100 To Watch celebrates the small but fast-growing companies of Asia-Pacific that are finding creative ways to solve problems and reimagine industries. It’s a snapshot of the region’s energy and ambition, featuring 100 privately owned firms with less than US$50 million in revenue and US$100 million in funding as of mid-August 2025. The final cut was drawn from thousands of submissions and nominations, with Forbes editors weighing their impact, business model, innovation, growth and ability to attract capital. What makes this year’s list especially interesting is the continued strength of fintech. It may not have the gloss of space tech or biotech, which took quite the majority of the list, but it’s often the first to show whether a market is ready to change, and that’s exactly what these companies are doing. We have dissected the list, and here are the fintech companies in Asia-Pacific that made it into Forbes Asia 100 to Watch. A map showcasing the places these fintech companies originated from. Indonesia With three fintech companies making the list, Indonesia’s representatives are tackling the complexities of finance in the world’s fourth-most populous nation, from business expenses to the hurdles of home ownership. Monit From its base in Jakarta, Monit provides an expense-management platform that helps businesses control their finances and cash flow. The service, founded in 2022, uses corporate debit cards to offer real-time insight into employee spending and automates financial reporting. Monit’s platform also handles employee reimbursements, invoices, and subscription payments. Its client roster includes notable Indonesian companies like real estate group Ciputra and quick-commerce firm Astro. The startup secured US$2.5 million in a Series A funding round in July, led by Cento Ventures Ringkas Ringkas is a fintech company focused on making home mortgage financing in Indonesia more accessible and efficient. Founded in 2022, its digital platform streamlines the process by submitting a single application to several banks at once. The company uses AI tools to pre-screen applicants through creditworthiness and know-your-customer (KYC) checks. Additionally, the platform allows existing homeowners to transfer their mortgages to banks offering better rates and terms. In May, Ringkas raised US$5.1 million in pre-Series A funding to improve its AI, hire more staff, and begin expanding into Southeast Asia. Skor Technologies Established in 2022, Skor Technologies operates an app called Skorlife that helps Indonesian consumers manage their credit scores and personal finances. In 2024, the company partnered with Bank Mayapada Internasional to launch the Skorcard credit card. This move aims to tap into Indonesia’s low credit card penetration rate, which stands at about 6% of the population. Back in January of this year, Skor Technologies raised US$6.2 million in a pre-Series A round led by Argor Capital, pushing its total funding to over US$12 million. Malaysia Malaysia is represented by two players that capture different sides of the fintech story. One is trying to reinvent business payments, and the other is attempting to democratise personal investments. Soft Space Led by CEO Joel Tay, Soft Space was established in Kuala Lumpur in 2012 to provide businesses with digital payment solutions, including contactless and e-wallet services. Its main offering, SoftPOS, is a technology that transforms a merchant’s smartphone into a secure point-of-sale device, removing the need for conventional payment hardware. The platform also integrates QR code payments, e-wallet support, and tools for real-time analytics and fraud detection. The company is expanding internationally, announcing a capital alliance last year with Japan’s GMO Financial Gate to introduce SoftPOS to the Japanese market. To support its growth, Soft Space secured US$31.5 million in a Series B1 funding round in 2023. Versa Operating since 2021 under CEO Teoh Wei-Xiang, Versa is a digital wealth management service for Malaysians. The platform enables users to invest in a variety of funds, including both conventional and Shariah-compliant options, while also offering tools for retirement planning and savings tracking. Versa achieved a key milestone in 2021 when it became the first e-service platform to be licensed by the Securities Commission of Malaysia. The company, which reports a user base of over 300,000, raised US$6.8 million in a Series A round earlier this March, with AHAM Asset Management as the lead investor. India Although leading the pack with 18 companies, only 2 fintech companies made it to Forbes Asia’s 100 to Watch list. Both of these fintech representatives focus on carving out specific niches in the massive consumer lending market. Finnable Founded in 2016, Finnable is an online lender that provides personal loans to salaried professionals in India. The Bangalore-based fintech utilises proprietary algorithms for credit assessment and deep analytics to enable fast, virtual loan approvals. It also offers customers flexible repayment schedules. Finnable reports that it has served over 250,000 customers across India and has raised more than US$33 million in total funding from investors, including Z47, TVS Capital, and Stride Ventures. Propelld Based in Bangalore, Propelld is a finance company specialising in the education sector. Founded in 2017, it offers a variety of “Study Now, Pay Later” loans for students in India. These financing options, which include collateral-free loans and income-sharing agreements, can be used for higher education and vocational training at over 4,000 partner institutions. In May, Propelld secured approximately US$30 million in a Series C funding round led by WestBridge Capital. Japan The fintechs from Japan showcase a focus on using AI and cloud technology to serve both individuals and the demanding corporate sector. Fivot Established in 2019, this Tokyo-based fintech startup operates two main services. The first is IDARE, a mobile app for personal savings and investments. The second, Flex Capital, uses AI to provide loans to startups, approving them in just three to ten business days, a significantly faster timeline than traditional Japanese banks. Fivot has raised US$20.1 million from investors such as SBI Investment and SMBC Venture Capital. Loglass Loglass is a cloud-based software company founded in 2019 that provides AI-powered tools for business planning. Its platform helps companies collect and analyse sales, budget, and personnel data to make their planning processes more efficient. The company’s customer base includes major Japanese firms like Nomura Real Estate Holdings and Toppan Holdings. Loglass has raised at least US$68 million to date, including an approximate US$50 million Series B round last year. Pakistan Pakistan’s two honorees highlight the diverse approaches within fintech. One focuses on Shariah-compliant B2B financing, and the other tackles the cash-based e-commerce market. Haball Headquartered in Karachi, Haball is a B2B fintech firm founded in 2017 that focuses on Shariah-compliant supply chain financing. The company provides digital invoicing, working capital financing, and tax compliance services to businesses in Pakistan. Haball reports that it has processed over US$3 billion in payments so far. In April, the company raised US$52 million in a pre-Series A round, which included US$5 million in equity and US$47 million in strategic financing from Meezan Bank. PostEx PostEx operates as a hybrid logistics and fintech company for Pakistan’s e-commerce sector. Launched initially as a delivery service in 2020, the company pivoted to offering upfront cash payments to online merchants, collecting the payment from the customer upon delivery. This model helps sellers with cash flow management. After acquiring competitor Call Courier in 2022, PostEx became the largest e-commerce delivery service in Pakistan. Last August, it raised US$7.3 million to fund its expansion into the Middle East. Singapore As a major financial hub, Singapore is represented by a B2B fintech player with a decidedly global ambition. Finmo Founded in 2021, Finmo is a B2B platform specialising in global payments and treasury management. Under the leadership of CEO David Hanna, the company provides services such as real-time payments, foreign exchange risk management, and automated compliance tools. Finmo has obtained regulatory licenses to operate in multiple key markets, including Singapore, Australia, New Zealand, Canada, the U.S., and the U.K.. In February, the fintech company raised US$18.5 million in a Series A round co-led by Quona Capital and PayPal Ventures, with Citi Ventures also participating. Philippines In the Philippines, the focus is on building the foundational infrastructure for the country’s rapidly growing digital economy. NetBank Launched in 2019, NetBank delivers digital financial services through a rural bank it acquired. The company, led by CEO Gus Poston, caters to the Philippines’ growing fintech community by offering services like loan management, payments, and disbursements. Its client list includes major players like Smart Money, TikTok, and Lazada, with backing from investors such as Beenext and Kaya Founders. According to the company, NetBank secured fundings from BEENEXT, January Capital, Oak Drive Ventures, Kaya Founders, and Boleh Capital in March this year. Hong Kong Hong Kong’s entry focuses on empowering the backbone of its economy, its small merchants. KPay Established in 2021, KPay provides both online and offline payment collection services for small merchants. The company is based in Hong Kong and also operates in Singapore and Japan, serving nearly 60,000 merchants and enabling fund transfers in 18 different currencies. In addition to payments, KPay offers an online platform with business management tools for payroll and expenses. Last December, the company raised US$55 million in a Series A round to help fund its expansion in Southeast Asia. New Zealand From New Zealand comes a solution tailored for the growing global population of freelancers and self-employed workers. Hnry Hnry is a platform founded in 2017 that offers automated accounting and tax services for self-employed individuals. The Wellington-based startup provides a pay-as-you-go service that automatically manages invoicing, expense tracking, and tax filings. After raising US$22.7 million in a Series B round in 2023, Hnry expanded its operations beyond Australia and New Zealand by launching its services in the U.K. this February. Map image: Edited by Fintech News Singapore based on an image by Zeb Studio via Freepik. Featured image: Edited by Fintech News Singapore based on an image by Harryarts via Freepik. The post Asia-Pacific Fintechs That Made Forbes Asia’s 100 To Watch 2025 appeared first on Fintech Singapore.

Singapore-based payments infrastructure firm Tazapay has closed its Series B funding round. The sum was not disclosed. The round was led by Peak XV Partners and included backing from Ripple, Circle Ventures, Norinchukin Capital, and GMO VenturePartners, along with participation from existing investors January Capital and ARC180. Tazapay provides local collection and payout services in more than 70 markets and processes over US$10 billion in annualised payment volume. The company reported that it has reached operational breakeven and is growing at 300 percent year-on-year. The platform supports a range of payment methods including cards, alternative payments, virtual bank accounts, payouts, and stablecoins. It is licensed in Singapore, Canada, and the European Union, and said the new funding will help accelerate its licensing roadmap across key global markets. Applications are underway in the United States, the United Arab Emirates, Hong Kong, Australia, and for a Digital Payment Token license in Singapore. Ripple and Circle’s involvement reinforces Tazapay’s role in connecting traditional finance with the evolving world of digital currencies. The investments from Norinchukin Capital and GMO VenturePartners are expected to accelerate Tazapay’s expansion in Japan. The company plans to enable local Japanese payment methods for its global customer base, establish a dedicated sales team, and support Japanese enterprises in scaling internationally. Tazapay also plans to expand its infrastructure with further investment in modern payment rails such as real-time payments (RTP), ACH, and stablecoins. Rahul Shinghal “We’re entering the next chapter of our journey — one where modern payment technologies, regulatory compliance, and partnerships with global leaders will enable the future of cross-border commerce. With this round, we are not just capitalising the business; we are investing in our long-term vision to become the builder of a global payment collection and payout infrastructure built on modern rails. One of the key use cases this infrastructure serves is being the Fiat bridge for stablecoins in emerging markets.” said Rahul Shinghal, Co-founder and CEO of Tazapay. Eric Jeck “The future of global payments depends on the seamless convergence of traditional and digital finance. Tazapay is a clear leader in building these essential, compliant last-mile connections, especially in emerging markets. We’re proud to invest in Tazapay in this next phase of their growth, and together provide best-in-class payment solutions in key regions such as APAC.” said Eric Jeck, SVP Corporate and Business Development at Ripple.   The post Tazapay Raises Series B Funding From Peak XV, Ripple and Circle appeared first on Fintech Singapore.

Pipe is turning to Airwallex’s infrastructure to scale globally, enabling same-day payouts and market launches in under six weeks. The US-based fintech provides embedded capital products to small businesses through software platforms. With Airwallex’s single integration and localized infrastructure, Pipe can expand faster while maintaining a consistent user experience. The partnership supports same-day and next-day payouts in new regions, giving small businesses quicker access to working capital and financial services previously out of reach. Airwallex has already helped Pipe enter the UK in late 2024 and Canada earlier this year, with Australia planned for later in 2025 and more markets in 2026. Luke Voiles “Our goal at Pipe is to enable software platforms that are serving SMBs to unlock revenue potential through embedded financial tools — no matter where they operate. With its broad global coverage and deep product capabilities, Airwallex gave us the support to launch in our first international market in weeks, not months. That speed and scale are critical for us as we look to expand our global footprint.” said Luke Voiles, CEO, Pipe. Kai Wu “Pipe is bringing innovative embedded financial solutions to global markets with remarkable speed, and we’re proud to help power that momentum. Our global payments infrastructure was built to help leading businesses like Pipe reach new heights, expand access to new markets and verticals, and help them better serve their customers around the world.” said Kai Wu, CRO at Airwallex.     Featured image: Edited by Fintech News Singapore, based on images by Pipe and xvector via Freepik   The post Airwallex to Power Pipe’s Rapid Global Expansion with Same-Day Payouts appeared first on Fintech Singapore.

Okta, an identity and access management company, is set to acquire Axiom Security, adding the Israeli startup’s privileged access technology to its platform to extend protection for sensitive accounts and systems. The deal will see Axiom’s tools integrated into Okta Privileged Access, creating a single control plane for managing privileged accounts across on-premises and multi-cloud environments. Okta said the move reflects growing demand for stronger safeguards as enterprises adopt artificial intelligence, which introduces new types of privileged accounts and heightens security risks. Founded by Itay Mesika and Ilan Dardik in Tel Aviv, Axiom provides an identity-centric, cloud-native Privileged Access Management (PAM) platform. Its system reduces standing privileges and grants time-limited access through just-in-time permissions, automated approval workflows, and user access reviews. The company emphasizes securing critical access without disrupting business productivity. Okta plans to extend coverage to environments such as databases and Kubernetes, while introducing just-in-time access for services including GitHub, Snowflake, PostgreSQL, and Amazon EKS. It will also add an AI-based connector builder for broader integration and provide least-privileged access with full traceability for compliance and audits. Abhi Sawant Abhi Sawant, Chief Technology Officer and Head of Engineering at Okta, said in a blog post, “We are excited to grow our Privileged Access capabilities and provide more solutions to our customers. And I am ecstatic to welcome the talented Axiom Security team to Okta! We anticipate the acquisition to close in September, so stay tuned for more details in the coming months.” Okta noted that Privileged Access will remain its PAM solution and is available globally, except in compliance-sensitive environments such as HIPAA and FedRAMP.     Featured image: Edited by Fintech News Singapore, based on image by Axiom The post Okta to Acquire Israeli Startup Axiom Security to Bolster Identity Security appeared first on Fintech Singapore.

Aspire, a finance platform for businesses, has removed local payroll transfer fees and lowered FX charges, a shift that could ease one of the biggest pain points for companies managing cross-border teams. Employers in Singapore can now process payroll transfers without incurring the usual S$0.20 to S$0.50 charge, while international transactions are set to cost less with reduced FX fees. The platform also allows businesses to pay CPF contributions directly, helping them meet compliance requirements more easily. Beyond cost savings, Aspire has upgraded its payroll system to cut down on repetitive administrative work. Employers can store employee details once and use them for recurring payroll runs across individuals, groups, or entire teams. Payments can be made directly on Aspire or through integrations with payroll software such as Talenox, HReasily, and Payboy. Employers can also restrict access to salary data to selected staff, keeping sensitive information secure. Andrea Baronchelli “Business finance should enable growth, not get in the way of it. Payroll is one of the most critical yet resource-intensive processes for businesses. By removing fees and simplifying workflows, we’re helping companies free up time and money that can be reinvested in growth. These enhancements reflect our commitment to building a financial platform that not only powers business transactions but also reduces friction in essential operations.” said Andrea Baronchelli, CEO and Co-Founder of Aspire. Aspire, which serves more than 50,000 companies across 30 markets, offers services including international payments, treasury, expense, payable and receivable management.     Featured image: Edited by Fintech News Singapore, based on image by lenadig via Freepik The post Aspire Cuts Local Payroll Transfer Fees to Lower Costs for Singapore Businesses appeared first on Fintech Singapore.