The Monetary Authority of Singapore (MAS) has approved Franklin Templeton’s Franklin Onchain U.S. Dollar Short-Term Money Market Fund as an authorised scheme, paving the way for the country’s first tokenized retail fund. Developed in collaboration with DBS Bank, the fund is initially available to DBS wealth clients and accredited investors through the bank’s relationship managers, with retail access expected in the first quarter of 2026. Investors can participate with a minimum investment of US$20. The fund mirrors the strategy of the Luxembourg-domiciled FTIF Franklin U.S. Dollar Short-Term Money Market Fund, which has delivered over three decades of performance. It uses Franklin Templeton’s proprietary Benji Technology Platform to record ownership on blockchain, enabling real-time transparency, daily yield accrual, improved liquidity, and secure tracking of investor holdings. Franklin Templeton said the initiative builds on its longstanding work in blockchain-enabled finance, following the launch of the world’s first U.S.-registered mutual fund using blockchain in 2021 and a fully tokenised UCITS fund in Luxembourg in 2024. The firm is also an active participant in MAS’s Project Guardian, a public–private initiative advancing tokenisation use cases in capital markets. The collaboration combines DBS’s digital infrastructure and local reach with Franklin Templeton’s experience in tokenised assets to expand investor access and support Singapore’s growing digital asset ecosystem. Tariq Ahmad Tariq Ahmad, Head of APAC, Franklin Templeton said, “As investor interest in tokenised funds and digital assets continues to accelerate, we are excited to collaborate with DBS, Singapore’s largest bank, to bring this tokenised fund to the retail market. This collaboration reflects our shared commitment to digital innovation and underscores our commitment to empowering investors with secure, transparent and cutting-edge investment solutions.” James Tan James Tan, Group Head of Investment Products & Advisory, DBS Bank, said, “Tokenisation is reshaping the way people invest, and we want to make sure these benefits extend beyond institutional investors. By availing Singapore’s first tokenised retail fund to our customers, at a minimum investment sum of just US$20, we are making it simpler and more convenient for them to start investing and build resilience through market cycles.”     Featured image: Edited by Fintech News Singapore, based on image by mangpor2004 via Freepik The post MAS Approves Franklin Templeton for Singapore’s First Tokenised Retail Fund appeared first on Fintech Singapore.

The Monetary Authority of Singapore (MAS) and Indonesia’s Otoritas Jasa Keuangan (OJK) have renewed their commitment to collaboration in fintech by signing a MoU on Cooperation in Financial Technology. This builds on the MoU signed in 2018 and expands cooperation to support technological innovation in the financial sector. The renewed MoU aims to help financial institutions and fintech firms in both countries take advantage of developments such as digital financial assets and artificial intelligence, while contributing to the growth of ASEAN’s digital economy. Under the MoU, MAS and OJK will share knowledge and best practices, promote cooperation between financial industries including engagement with industry bodies, refer promising fintech firms to participate in each other’s regulatory sandboxes, and facilitate the cross-border flow of information for fintech firms operating within their licensed scope, in line with applicable laws and regulations. Leong Sing Chiong, Deputy Managing Director of MAS, said: Leong Sing Chiong “The OJK and MAS have maintained a strong, longstanding bilateral partnership, and have also worked closely to advance regional financial cooperation over the years. We share the same commitment to fostering innovation, addressing barriers, and developing fintech ecosystems to better serve our markets and across ASEAN.” Hasan Fawzi, Chief Executive of Financial Sector Technological Innovation, Digital Financial Asset and Crypto Asset Supervision, and member of the OJK Commissioner Board, said: Hasan Fawzi “Through joint pilots and knowledge-sharing in areas such as Regulatory Sandboxes, digital financial assets, the use of AI in financial services, and sustainable innovations, we aim to foster innovations, ensure consumer protection, support MSMEs and financial inclusion, and help catalyse sustainable growth through digital finance across Indonesia, Singapore, and the wider ASEAN region.”     Featured image credit: Edited by Fintech News Singapore, based on image by leungchopan via Freepik The post Singapore and Indonesia Renew Fintech Collaboration appeared first on Fintech Singapore.

VPBank, one of Vietnam’s top five private commercial banks, has completed a major upgrade of its core banking system to the latest Temenos platform, supported by Systems Limited and hosted on Red Hat OpenShift. The modernisation project, which migrated more than 18 million customer accounts and millions of loan records for its customer base of over 17 million, was completed within a single cutover window of less than 24 hours. The move transitions VPBank to a fully cloud-native environment, enhancing scalability, agility, and operational efficiency while reducing IT overheads. The upgraded system enables the bank to launch products more quickly, integrate easily with partners, and deliver richer, more reliable digital services to its customers, leading to improved performance. Wong Kok Seng Augustine “By embracing open, cloud-native architectures and reengineering our core banking platform on Red Hat OpenShift, we are building the agility and resilience needed to continuously innovate at scale. This transformation reflects our commitment to being a technology-first bank—one that can evolve rapidly, deliver with consistency, and serve all our customers with trust and speed in an ever-changing digital world.” said Wong Kok Seng Augustine, Chief of Information Officer, VPBank. William Dale “We are proud to partner with VPBank, Systems Limited, and Red Hat on this groundbreaking transformation. By moving to the latest Temenos Core on Red Hat OpenShift, VPBank gains the agility to design and launch products faster, integrate seamlessly with digital ecosystems, and deliver superior experiences to millions of customers. This project sets a new benchmark for core banking modernization in the region and highlights how leading banks like VPBank are choosing Temenos to accelerate innovation, enhance customer experiences, and scale with confidence.” said William Dale, Managing Director – APAC, Temenos.     Featured image: Edited by Fintech News Singapore, based on image by sodawhiskey via Freepik   The post VPBank Transitions to Cloud-Native Core Banking with Temenos, Red Hat appeared first on Fintech Singapore.

Moomoo Singapore has opened its first two physical stores at 313@Somerset and Jem, expanding its digital investing platform into spaces where investors can learn and connect in person. The launch reflects Moomoo’s omnichannel strategy to complement its app with physical touchpoints for its 1.5 million users. The boutiques offer personalised guidance, workshops and tutorials to make investing education more accessible. The 313@Somerset outlet, along Singapore’s main shopping belt, targets young professionals and students, while the Jem store in Jurong East, one of the largest suburban malls in the west, brings investing closer to families and retail investors in the heartlands. The new stores aim to strengthen community engagement and give users access to educational resources and industry partners. Echo Zhao “Our vision has always been about reimagining how Singaporeans experience investing. With the launch of our concept stores, we are taking that vision beyond the app and into the heart of everyday life. These spaces are not just extensions of our business; they are symbols of our belief that investing should feel accessible, human, and inspiring. By blending the scale of technology with the warmth of face-to-face connection, we are creating an ecosystem where every investor feels empowered to take part in Singapore’s next chapter of growth,” said Echo Zhao, Country Head, Moomoo Singapore. Erika Chiang “Our community is already one of the most active and engaged in Singapore, and these new stores are designed to give that community a physical home. They are places where investors can meet, learn, and grow together — where conversations move beyond screens into real, meaningful connections. By creating spaces that blend education, dialogue, and belonging, we are strengthening the bonds that turn individual investors into a collective force, and ensuring that everyone feels part of Singapore’s financial story,” said Erika Chiang, Southeast Asia Chief Marketing Officer, Moomoo.     Featured image: Edited by Fintech News Singapore, based on image by Moomoo The post Moomoo Singapore Opens First Physical Stores appeared first on Fintech Singapore.

Payments firm Nuvei has integrated Visa Direct for Account into its global payments platform, enabling businesses to send funds directly to consumers’ and workers’ bank accounts in eligible countries. The update expands Nuvei’s real-time payout options, giving merchants faster and more reliable access to global money transfers. The company is among the first global acquirers to offer Visa Direct for Account alongside Visa Direct for Card, enabling faster global money movement. Earlier collaborations include being an early acquirer for Visa Direct for Card in markets such as Colombia and supporting Visa’s Agentic Commerce initiatives. With a single integration, merchants can offer account-based payouts in multiple currencies. For eligible card transactions, funds can be made available more quickly to improve cash flow, customer satisfaction, and operational efficiency. Philip Fayer “Consumers everywhere expect instant access to their money, whether it is a payout, refund, or remittance. By expanding our Visa Direct offering, we’re empowering merchants to meet those expectations with faster, more convenient, and more reliable payouts that enhance everyday financial experiences.” said Phil Fayer, Chair and CEO of Nuvei. Vira Platonova “Meaningful progress in payouts comes from ecosystem collaboration. Expanding our integration with Nuvei’s platform means we are able to help more businesses reach payees with capabilities built for scale, compliance, and operational simplicity.” said Vira Platonova, Global Head of Visa Direct. The combined infrastructure of Nuvei and Visa enables account-based payouts through a single integrated platform. It helps businesses reduce transfer and foreign exchange costs compared to traditional methods while simplifying treasury operations. The solution supports multiple use cases, including gig worker payments, insurance claims, loan disbursements, remittances, marketplace settlements, and digital goods payouts. Visa Direct currently connects to more than 11+ billion endpoints globally across cards, accounts, and digital wallets. In 2024 alone, Visa processed over 10 billion Visa Direct transactions, up from 1.6 billion in 2019. The rollout will begin in Europe, with additional regions and capabilities planned for 2026.     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Freepik The post Nuvei Integrates Visa Direct to Enable Faster Account Payouts appeared first on Fintech Singapore.

DBS has launched an upgraded version of its corporate banking virtual assistant, DBS Joy, now powered by generative artificial intelligence (Gen AI). Developed in-house as Asia’s first corporate banking virtual assistant, the chatbot offers 24/7 support through the bank’s digital platform, DBS IDEAL. DBS Joy handles a wide range of queries, from routine requests to complex servicing needs. For specialised support, users are connected to customer service staff equipped with a Gen AI-powered digital co-pilot to deliver faster and more tailored assistance. Since trials began in February, DBS Joy has handled over 120,000 chats. About 4,000 corporate clients, mostly small and medium enterprises, now use the service monthly, with customer satisfaction up by more than 23%. Chen Ze Ling Chen Ze Ling, Group Head of Corporate and SME Banking, DBS, said, “At DBS, our dedication to empowering SMEs fuels our continuous innovation in how we deliver positive customer experiences. In line with our commitment to be an AI-enabled bank with a heart, our latest iteration of DBS Joy represents a major leap forward as it offers instant and intelligent support to customers, while enabling our SME relationship managers to deliver more focused and value-added engagements to clients.” DBS Joy combines large language models with the bank’s knowledge base to provide conversational, contextual responses. Interactions go through multiple safeguards and reviews by trained evaluators who refine the chatbot’s accuracy and reliability. Welson Jamin Welson Jamin, Group Head of Operations at DBS, said, “DBS Joy enables customers to access information quickly, efficiently, and accurately. For customers who choose to speak with a human service specialist, we are also implementing Gen AI to support employees by enabling faster data retrieval, providing concise recommendations and improving response times to customer queries. This reduces employees’ effort and allows them to focus on work that involves human judgement to address client needs.” DBS plans to expand Joy’s features and roll it out to other markets, including Hong Kong and India. The bank’s broader AI strategy has gained global recognition, with Global Finance naming DBS the World’s Best AI Bank and Harvard Business School profiling its AI initiatives in a 2024 case study.     Featured image: Edited by Fintech News Singapore, based on image by MH Stock via Freepik The post DBS Launches 24/7 Gen AI Chatbot ‘DBS Joy’ for Corporate Clients appeared first on Fintech Singapore.

XTransfer has partnered with OCBC to establish a long-term collaboration that provides trading companies, especially SMEs, with compliant and efficient cross-border financial solutions. OCBC will support XTransfer’s business development in Greater China and ASEAN by offering a range of corporate banking services. This includes trade finance, local and foreign currency loans, foreign exchange, payments, collections, time deposits, and corporate internet banking. Both companies will also explore new product areas to drive innovation in cross-border services and enhance efficiency and customer experience for corporate clients. Jason Sun Jason Sun, Co-founder and CFO of XTransfer, said, “Leveraging OCBC’s extensive network and integrated financial capabilities in Greater China and ASEAN, together with XTransfer’s strengths in cross-border fund collection and payment, compliance, and risk-control technology, we will jointly build a secure, compliant, transparent, and efficient one-stop cross-border integrated financial service system. This will help foreign trade enterprises reduce costs and increase efficiency, safeguard transaction security, and improve capital turnover, thereby further promoting high-quality development of regional trade and investment.” Seth Tan Seth Tan, Managing Director & Head of Corporate Banking of OCBC China, said, “As XTransfer’s global account manager team, OCBC China actively integrates the Group’s rich resources across markets and, relying on the group’s advanced technology and systems, facilitates cross-border collaboration to open accounts for clients in locations such as Singapore and Hong Kong SAR. Working hand-in-hand with teams across regions, we have tailored a basket of API-based financial solutions for XTransfer, empowering it to provide customers with more efficient and convenient payment services and a more diversified range of collection options.” The partnership comes amid deepening trade relations between the two cities. In the first half of 2025, bilateral trade between Shanghai and Singapore grew 5.4% year on year. As of June, Singapore had invested in over 6,800 projects in Shanghai valued at more than US$27 billion, while Shanghai companies have launched more than 600 projects in Singapore with a combined investment of about US$8.5 billion.     Featured image: Seth Tan, Managing Director & Head of Corporate Banking of OCBC China (second from right) and Jason Sun, Co-founder and CFO of XTransfer (first from right), signed an MOU The post XTransfer and OCBC to Offer Cross-Border Financial Services for SMEs appeared first on Fintech Singapore.

Singapore is preparing what could be the world’s first nationwide rollout of hardware tokens for online banking authentication, according to The Straits Times. The Monetary Authority of Singapore (MAS) is working with banks to issue FIDO-compliant devices that connect to a user’s phone or computer before approving high-value transactions. The move marks a return to physical tokens last seen in the early 2000s, when banks used number-pad devices to generate one-time passwords for online banking. Digital tokens embedded in mobile apps replaced them in 2017, but a rise in online scams has prompted regulators to bring hardware back into the mix. MAS has said users may experience more friction but maintains that security must take precedence over convenience. Reported losses from phishing scams have surged from about S$7.3 million in the first half of 2023 to roughly S$30 million in the same period of 2025, raising concerns about public confidence in digital banking. The new tokens will rely on the Fast Identity Online (FIDO) standard, which replaces passwords and one-time codes with cryptographic keys stored separately on the token and the bank’s system. This makes phishing harder, as criminals would need the physical device to gain access. Still, the tokens have limits. Setting them up could be difficult for less tech-savvy users, and phishing threats will persist if merchants and websites do not adopt FIDO authentication. Many scams still involve victims entering card details on fake e-commerce sites. Practical questions also remain about who will bear the cost of issuing the tokens, how lost devices will be replaced, and whether banks can handle a potential surge in customer support requests. While tech giants such as Google and Microsoft already use FIDO authentication internally, few banks have extended hardware-based authentication to all retail customers.     Featured image: Edited by Fintech News Singapore, based on image by zeen-unicron via Freepik The post Singapore Plans World-First Rollout of FIDO Hardware Tokens for Banking Security appeared first on Fintech Singapore.

Singapore’s largest lender, DBS Group Holdings, is preparing for a major workforce transformation as artificial intelligence begins to reshape traditional banking roles, according to a Bloomberg report. Tan Su Shan Chief Executive Tan Su Shan said the bank will no longer hire for positions likely to be automated and is instead retraining existing employees to take on new responsibilities. Roles such as bank tellers are being redefined to focus on customer relationships and digital servicing, including managing video teller machines. DBS has identified around 13,000 employees for upskilling in AI and data capabilities, with more than 10,000 already trained, according to earlier company statements. The bank, which employs over 40,000 people, also plans to reduce about 4,000 contract and temporary roles over the next three years as part of its broader digital transformation. Singapore’s financial sector is seeing similar moves across its three major banks, which are retraining a combined 35,000 workers to adapt to automation and AI-driven changes. Deputy chairman of the Monetary Authority of Singapore, Chee Hong Tat, recently said the effort aims to help employees transition to adjacent roles through reskilling programs. Tan, who became CEO in March, has said the shift requires staff to “embrace change” as automation expands across the bank. Her comments echo those of global banking leaders such as JPMorgan Chase’s Jamie Dimon, who has called AI one of the most transformative forces in the industry. DBS’ strategy reflects a broader shift among major lenders, focusing on adapting existing talent to new digital functions instead of carrying out large-scale layoffs.     Featured image: Edited by Fintech News Singapore, based on image by DBS The post DBS Freezes Hiring for AI-Vulnerable Roles, Commits to Upskilling 13,000 Employees appeared first on Fintech Singapore.

Singapore Fintech Festival (SFF) 2025 will mark its 10th year from 12 to 14 November, spotlighting how AI, tokenisation and quantum technology could shape the future of global finance. Organised by the Monetary Authority of Singapore (MAS), the Global Finance & Technology Network (GFTN) and Constellar, in collaboration with the Association of Banks in Singapore (ABS), the event promotes collaboration across finance, technology and policy. This year’s theme, Technology Blueprint for the Next Decade of Finance, will explore how the emerging technology stack is transforming global finance and advancing sustainable growth and inclusion across emerging markets and the Global South. More than 800 speakers will take part in over 400 sessions on responsible AI, tokenised finance, digital currencies, stablecoins, quantum resilience and inclusion. Over 500 sponsors and exhibitors will participate, with more than 40 international pavilions across six exhibition halls. To mark its anniversary, SFF 2025 will debut a 10th Anniversary Gallery, a Time Capsule to be opened in 2035 and the Next Gen Leaders Programme for emerging innovators. MAS’ sustainability disclosure platform Gprnt will also release its first SME Sustainability Barometer with PwC, the Sustainability Alliance and the Singapore Business Federation, based on a survey of 560 SMEs on sustainability and green finance. Before the main conference, The SFF Curtain Raiser will feature the Insights Forum and Innovation Lab Crawl from 10 to 11 November. The forum will convene public-private roundtables on digital assets, AI infrastructure and tokenisation, while the Lab Crawl will showcase pilot projects across 11 innovation hubs in Singapore. Kenneth Gay Kenneth Gay, Chief Fintech Officer, MAS, said, “SFF has grown remarkably over the past decade, both evolving with and shaping the landscape of fintech innovation. As we look to the future, SFF 2025 represents a pivotal moment that will define the next decade of FinTech growth and transformation. This gathering provides an opportunity for the global ecosystem to come together – to share knowledge, forge meaningful partnerships, and collectively redefine the way financial services are delivered globally. We are excited to welcome the global fintech community to join us at SFF as we work together to unlock new opportunities for a new era of financial innovation and inclusion.” Sopnendu Mohanty Sopnendu Mohanty, Group Chief Executive Officer, GFTN, said, “Over the past decade, SFF has shown that when policy, finance, and technology come together, finance can be both innovative and inclusive when guided by shared purpose. The coming decade will focus on harnessing AI responsibly, scaling tokenisation safely, and preparing for a quantum-ready future that can withstand global shocks and shape the next-generation financial infrastructure that is open, trusted, and efficient.” Constellar CEO Chua Wee Phong said SFF 2025 will combine technology showcases, gamified experiences and live events to create a dynamic festival of innovation.     Featured image: Edited by Fintech News Singapore, based on image by creativaimages via Freepik The post AI, Tokenisation and Quantum Tech to Define Future of Finance at SFF 2025 appeared first on Fintech Singapore.

Singapore’s fintech story has always been about speed, but 2025 feels different. This is the year when years of policy work and infrastructure building move from pilot to production. Digital rails, data frameworks, and regulatory guardrails are now carrying volumes, serving users, and supporting activity that stretches well beyond Singapore’s borders. The Singapore Fintech Report 2025 captures this shift in detail. This year, the report spotlights how Singapore’s discipline, policy foresight, and execution are quietly redrawing the map of Asian finance. MAS’s new Digital Token Service Provider framework, for example, has set a benchmark for digital-asset regulation, while the launch of the Singapore Payments Network and the operationalisation of Project Nexus are turning cross-border interoperability from theory into reality. Here’s how Singapore’s fintech evolution is unfolding. The Financial Reality of Singapore’s Digital Banks Source: Singapore Fintech Report 2025 Singapore’s digital banks continued to gain ground in 2025, though profitability remained elusive across the board. Trust Bank led the pack with total income of S$96.9 million, successfully narrowing its losses by 27% to S$93.3 million, a near-breakeven performance compared to its peers. GXS Bank recorded the steepest loss at S$145.4 million, even as its income more than doubled to S$29.6 million. MariBank followed with a strong total income rise of S$24.4 million, though its losses of S$51 million were only marginally lower than the year before. ANEXT Bank generated S$44.9 million in total income, but its losses deepened to S$37.2 million. Meanwhile, Green Link Digital Bank (GLDB) stood out as an exception. Its income surged 447% to S$47.8 million while losses plunged by 83% to just a little over S$5 million, suggesting early signs of operational stability. Taken together, the results paint a picture of a maturing yet uneven landscape. Singapore’s digital banks are clearly scaling, yet the path to profitability remains sharply divided. Some, like Trust Bank and GLDB, are edging toward stability, while others continue to pursue growth. The next years will test who can turn momentum into sustainable profits. Singapore’s Fintech Map for 2025 The Singapore Fintech Map 2025 highlights a vibrant and fast-evolving ecosystem, featuring 520 fintech companies, marking a notable increase from 2024. The payments sector remains the largest category, accounting for 20.4% of all fintechs with 106 companies, possibly a testament to Singapore’s maturity in digital payments and cashless adoption. Source: Singapore Fintech Report 2025 Beyond payments, wealthtech (12.7%), regtech (12.3%), and regulated crypto service providers (8.1%) emerged as the next strongest verticals, underscoring Singapore’s shift toward compliance-driven innovation and asset digitalisation. Meanwhile, digital banks remain the smallest segment with five licensed players: Trust, GXS, MariBank, ANEXT, and GLDB, all maintaining their presence as the approved digital banks in Singapore. The Latest Rundown on Cryptocurrency in Singapore Singapore’s cryptocurrency market in 2025 reflects a more measured and regulated phase of growth. Ownership has eased to 29%, down from 40% in 2024, as investors adapt to stricter oversight and possibly are taking are more cautious stance. The ecosystem itself remains active, supported by 36 licensed Digital Payment Token Service Providers under the Monetary Authority of Singapore’s framework. Source: Singapore Fintech Report 2025 While retail participation has softened, usage levels remain consistent. 57% of holders make at least one crypto transaction each month, and 52% have used crypto to pay for goods or services. Younger users continue to drive adoption, with Gen Z (40%) and Millennials (39%) accounting for most crypto holders. Stablecoins are also gaining ground following the introduction of MAS’s regulatory framework in August 2024, signalling stronger trust in asset-backed digital currencies. Regulation and Innovation Drive Singapore’s Financial Progress Singapore’s regulatory landscape saw major advances in 2025, reinforcing its position as a trusted global financial hub. Key milestones included the Protection from Scams Bill in January, empowering police to freeze scam-linked accounts. April saw the debut of Nexus Global Payments (NGP), supported by five Asian central banks, to enhance cross-border payment connectivity. The month also marked the opening of the Nexus Technical Operator (NTO) tender to manage Nexus’s technical and operational functions. Source: Singapore Fintech Report 2025 In June, the Monetary Authority of Singapore (MAS) introduced a regulatory regime for Digital Token Service Providers (DTSPs) serving overseas clients and, together with the Association of Banks in Singapore (ABS), established SPaN, a national framework for payment governance. By July, Singapore moved closer to a cheque-free economy with the launch of EDP and EDP+, while in September, MAS and four major banks completed a quantum-safe banking trial, marking a leap forward in cybersecurity. The year will conclude with the 10th Singapore Fintech Festival next week, celebrating a decade of progress and collaboration across the financial ecosystem. Want the Full Picture of Singapore’s Fintech Landscape? This article offers just a glimpse into how Singapore’s fintech ecosystem has evolved in 2025, from digital banks edging closer to profit to new regulatory milestones shaping the next decade of financial innovation. The Singapore Fintech Report 2025 by Fintech News Singapore dives deeper into funding trends, sector breakdowns, policy updates, and key players driving Asia’s most advanced fintech hub. Download the full report to explore exclusive insights, data charts, and in-depth analysis on what’s next for Singapore’s digital economy. Featured image: Edited by Fintech News Singapore, based on image by pvproductions on Freepik   Download the full Singapore Fintech Report 2025 Other resources you might be interested in Curious about other Asian fintech startup maps and reports? Here’s a handy guide looking at the fintech startup maps in Asia by country. and the fintech startups report in Asia by country. The post Singapore Fintech Report 2025: Is Anyone Winning Singapore’s Digital Bank Race Yet? appeared first on Fintech Singapore.

Ripple and the Global Finance & Technology Network (GFTN) have launched a global training programme to help policymakers strengthen their understanding of stablecoins, tokenisation and cross-border payments. The initiative, Decoding Digital Assets: Stablecoins and Digital Money, aims to build regulatory capacity and bridge the gap between blockchain innovation and public sector readiness. Powered by Ripple, it will train more than 200 central bankers, regulators and policymakers from key Asia-Pacific markets including Australia, the Philippines, Thailand, Korea, Taiwan and Indonesia before expanding globally. The six-week online course includes eight hours of content and fortnightly live sessions with industry experts. It also features a Tabletop Simulation that lets participants test policy responses to systemic risks such as cross-jurisdictional issues and monetary policy challenges from foreign-issued stablecoins. Case studies will draw from the Monetary Authority of Singapore’s Project Guardian and other jurisdictions in Europe, Japan and the United Kingdom. The curriculum covers the mechanics and systemic risks of stablecoins, interoperability in cross-border payments with a focus on custody models and technical infrastructure, and governance frameworks that include institutional approaches to managing emerging digital finance risks. Sopnendu Mohanty Sopnendu Mohanty, Group Chief Executive Officer of GFTN said, “This partnership reflects GFTN’s commitment to empowering policymakers with the knowledge and tools they need to navigate the fast-evolving world of digital assets. By launching Decoding Digital Assets with Ripple, we are helping regulators across Asia-Pacific and beyond to build the expertise required for sound policy, responsible innovation, and cross-border collaboration.” Rahul Advani Rahul Advani, Global Co-Head for Policy at Ripple said, “The foundation of digital finance is regulatory clarity. Our partnership with GFTN invests directly in that clarity by equipping policymakers with practical knowledge of stablecoins, custody, and interoperability. This ensures the next generation of regulation is both responsible and enabling, allowing the multi-trillion-dollar tokenised asset market to grow safely.”     Featured image: Edited by Fintech News Singapore, based on image by WangXiNa via Freepik The post GFTN and Ripple Launch Global Program to Train Policymakers on Digital Assets appeared first on Fintech Singapore.

Project Mandala is exploring how regulatory requirements can be digitally embedded into cross-border payment systems to automate compliance. Led by the BIS Innovation Hub Singapore Centre with the Reserve Bank of Australia, Bank of Korea, Bank Negara Malaysia, and the Monetary Authority of Singapore, the project aims to automate compliance procedures and reduce regulatory friction in international transactions. It builds on Project Dunbar, which tested a multi-central bank digital currency platform for cross-border settlements. Using a compliance-by-design architecture, Mandala encodes jurisdiction-specific rules into a shared digital framework to enable real-time monitoring, pre-validation of checks, and automatic proof generation before payments are made. These proofs can be attached to central bank digital currencies or Swift messages to ensure all requirements are met before funds are transferred. The proof-of-concept tested two use cases: cross-border lending between Singapore and Malaysia, and capital investment financing between South Korea and Australia. How Project Mandala streamlines loan disbursement and compliance checks between Singapore and Malaysia. Both showed how automation can speed up processing, reduce duplicate checks, and protect privacy through zero-knowledge proofs and multi-party computation. Mandala runs on a peer-to-peer network linking banks and regulators. Each participant operates a node combining a secure messaging layer, a rules engine that translates regulations into code, and a proof engine that verifies compliance automatically. Project Mandala Enters Phase 2 Mandala has been successfully tested with both Project Mariana’s wholesale CBDC network and the Swift transaction manager, showing its ability to integrate with existing and emerging payment systems. BIS published its final Phase 1 report in October 2024, confirming that compliance can be embedded within cross-border transaction protocols. In November 2025, the project moved into Phase 2 with new participants, including the Bank of France, Reserve Bank of India, Central Bank of Kuwait, Bangko Sentral ng Pilipinas, and Bank Negara Malaysia. The next phase will test scalability, expand use cases, and explore programmable compliance for digital assets. If proven effective, Project Mandala could serve as a common compliance layer for global payment systems, supporting G20 and Financial Stability Board goals to make cross-border payments faster, safer, and more transparent.   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Project Mandala Now in Phase 2 to Automate Cross-Border Payment Compliance appeared first on Fintech Singapore.

Standard Chartered Foundation is investing US$6 million to boost youth employment and support sustainable livelihoods in Singapore and ASEAN. Most of the investment will be channelled through the foundation to develop an ASEAN blue economy programme that helps sustain coastal and maritime ecosystems while improving the economic livelihoods of communities across the region. The initial phase will include a landscape assessment to identify untapped potential and blue economy-related job opportunities. Globally, 282 million young people are not in employment, education, or training, including about 19 million in ASEAN, where young women are 1.5 times more likely to be unemployed than men. Since 2019, the foundation has helped create more than 100,000 jobs for young people worldwide and aims to extend this impact across the region. The second initiative will see the foundation partner Community Chest, the philanthropy arm of the National Council of Social Service, and Daughters of Tomorrow to launch the Youth Employment for Success (Y.E.S.) programme. Running until 2028, it will support women aged 18 to 35 from lower-income communities in Singapore through job-readiness and well-being training designed to build confidence and strengthen employability. Patrick Lee Patrick Lee, CEO, Singapore and ASEAN, Standard Chartered, said, “The flagship ASEAN blue economy programme funded by the Standard Chartered Foundation, together with our industry partners, holds immense economic potential that we hope can translate into tangible job opportunities that will uplift youth employability in this vibrant region. Similarly, our partnership with DOT reinforces the bank’s SG60 commitment, as we continue to make a positive impact on the community, together with our employees in Singapore.”     The post StanChart Foundation Pledges US$6M to Boost Youth Employment in Singapore, ASEAN appeared first on Fintech Singapore.

dtcpay, a Singaporean digital payments company, has received approval for an Electronic Money Institution (EMI) license from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg, effective 29 October. The license follows the Green Light Letter issued by the CSSF in July. The approval marks the activation of dtcpay’s European strategy, with Luxembourg serving as its continental headquarters and regulatory hub for the European Economic Area (EEA). The EMI license permits dtcpay to provide services across 30 EEA countries, covering over 450 million consumers and businesses. Alice Liu “This milestone represents a significant achievement for our team. We are highly appreciative of the expert guidance and thoughtful support provided by the CSSF throughout the application process,” said Alice Liu, Group CEO of dtcpay. Founded six years ago, dtcpay focuses on bridging traditional and digital finance through regulated stablecoin infrastructure. With its EMI license now active, alongside a growing list of approvals in other jurisdictions, the company is positioning itself for Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider (CASP) licensing as it expands its solutions in Europe. dtcpay’s choice of Luxembourg aligns with the European Union’s pro-innovation and high-compliance framework, positioning the company to serve as a regulated gateway for fintechs entering the European market.   Featured image credit: Edited by Fintech News Singapore, based on image by Shalev Cohen via Unsplash This article first appeared on Fintech News Switzerland The post dtcpay Receives EMI License from Luxembourg’s Financial Regulator appeared first on Fintech Singapore.

StraitsX is expanding its stablecoin payment network across Asia, linking Singapore, Thailand, Taiwan and Japan through real-time cross-border settlement rails. In Thailand, StraitsX will partner with KASIKORNBANK (KBank) and Orbix Technology to enable real-time QR interoperability between Thailand’s national QR payment system and Singapore’s SGQR framework. The collaboration explores using the XSGD stablecoin as the settlement asset, allowing consumers to pay through familiar local apps while merchants receive settlement in their domestic currencies. Thai travellers in Singapore will soon be able to use KBank’s Q Wallet to pay at GrabPay and select PayNow-enabled merchants with Q-money. Payments will be settled instantly in Singapore dollars. A second phase, pending regulatory approval, will enable Singapore travellers to pay Thai merchants with seamless baht settlement. The expanded network, expected to go live in the second quarter of 2026, will connect regulated consumer and institutional payment platforms in Taiwan and Japan through a regional settlement framework. This aims to strengthen interoperability between payment ecosystems in Southeast and Northeast Asia, with cross-border transactions settled in XSGD behind the scenes and completed in real time with transparent FX conversion and regulatory alignment. These developments follow StraitsX’s rollout of Singapore’s first stablecoin-based “scan-to-pay” service in September. Tianwei Liu “The Thailand-Singapore corridor offers an opportunity to explore how stablecoins can strengthen existing payment ecosystems. By embedding XSGD into established consumer rails like GrabPay and Q Wallet by KBank, we’re showing how trusted digital assets can deliver real-time settlement, transparent FX conversion, and interoperability at scale,” said Tianwei Liu, CEO and Co-Founder of StraitsX.     Featured image: Edited by Fintech News Singapore, based on image by wayhomestudio via Freepik The post StraitsX, KASIKORNBANK to Pilot Stablecoin QR Payments Between Singapore and Thailand appeared first on Fintech Singapore.

Arta has expanded its SaaS platform, Arta AI, making its wealth management tools available globally for investors, advisors, and financial institutions. The platform, purpose-built with AI agents for wealth management, is now accessible at arta.ai. Bank of Singapore and Hong Leong Bank have adopted the technology, joining Ethivo Asset Management (HK), Wio Invest, and Income Insurance’s subsidiary. The Arta AI Sidekick provides each advisor with an AI agent that connects client portfolios, firm data, research, and product intelligence to surface insights and streamline workflows. It helps advisors make faster decisions, engage clients at scale, and focus on higher-value advisory work. Caesar Sengupta “Financial institutions of every stage, from established private banks to digital-native wealth or investing platforms, are realising that AI can drive scale, engagement and rigor while maintaining the human connection that defines great client service. Arta AI is purpose-built for wealth and investing. It augments advisor expertise, strengthens analytical rigor, and ensures transparency across all client interactions.” said Caesar Sengupta, CEO of Arta. Bank of Singapore is deploying Arta AI to enhance its offerings for external asset managers and family offices. The platform supports the bank’s Financial Intermediaries, Family Office, and Wealth Advisory division, led by Leong Guan Lim. Lim said Arta AI enhances research capabilities, automates the quantitative work for each portfolio, and enables advisors to focus on human-centric advice. Hong Leong Bank’s collaboration with Arta AI is part of its strategy to expand its wealth business through technology partnerships. The bank will use the platform to empower relationship managers to deliver investment opportunities aligned with its product risk framework and benchmarked against its Chief Investment Office research. Jeffrey Yap “At HLB, our priority is to empower our relationship managers with the right insights to better serve our clients. By connecting portfolio data, CIO research, and product-level risk models, we aim to make every recommendation more consistent, personalised, and aligned with our clients’ individual risk appetites. This initiative is an extension of HLB’s strong commitment to integrating AI across the organisation, being one of the earliest banks in Malaysia to empower all employees with AI tools, and it directly supports our efforts to leverage technology and data for a more seamless, advisory-led wealth experience.” said Jeffrey Yap, Managing Director and Regional Head of Wealth Management. Arta said its platform integrates seamlessly into banking systems, allowing white-label deployment and firm-specific training for brand voice, compliance, and proprietary research. It combines generative AI with vetted data, real-time pricing, and CIO research to automate analysis and reporting while enhancing client engagement. The platform also provides tools for advisors to run Monte Carlo simulations and stress tests, integrate proprietary research, and strengthen client relationships at scale.     Featured image: Edited by Fintech News Singapore, based on image by user11877524 via Freepik The post Bank of Singapore, Hong Leong Adopt Arta’s AI Sidekick as Platform Expands Globally appeared first on Fintech Singapore.

Small and medium-sized enterprises (SMEs) in Singapore now have access to a smarter line of credit designed to adapt to their needs, providing financial flexibility to manage cash flow and capture rapid growth opportunities. Bizcap has launched its Line of Credit (LOC) Ultra globally, making the product available in every market where the lender provides funding. In Singapore, SMEs can access a line of credit up to SGD $300,000. LOC Ultra will empower businesses who need fast access to funds, with finance approved within 24 hours, and repayment rates from as low as 1.25% per week for the first four weeks. Advisers will find LOC Ultra particularly suitable for cash flow-heavy clients who draw down and repay the facility frequently. The application process is quick and easy, with minimal documentation required. LOC Ultra is also an excellent fit for businesses seeking an alternative to invoice financing or debtor finance. Instead of waiting weeks or months for customers to pay, clients can access an upfront cash advance by using outstanding customer invoices as collateral, unlocking working capital exactly when they need it. The product’s flexibility makes it ideal for clients who prefer to draw funds on a sporadic basis, taking advantage of available credit only when opportunities or short-term cash gaps arise. As a leader in fast and flexible business finance across Australia, New Zealand, Singapore, the UK and Europe, Bizcap is excited to add LOC Ultra to its product offering. Rebecca del Rio “The positioning of the LOC Ultra product is truly exciting – it’s a game-changer because it allows us to step into a part of the non-bank lending market that’s traditionally been dominated by debtor and invoice finance. We’re eager to cater to a part of the market that’s long been underserved, and the early feedback from our Australian partners has been fantastic. They’re seeing strong client uptake and far fewer headaches in setting up these facilities.” said Rebecca del Rio, Bizcap’s Chief Revenue Officer. Tony Truong Bizcap’s Chief Credit Officer, Tony Truong said LOC Ultra will allow businesses to manage key expenses, payroll during seasonal lulls, and expansion planning. “Business owners are often frustrated by rigid credit models that ignore the realities of running an SME. With LOC Ultra, we’ve created a breakthrough solution – our credit decisioning is out of the box, factoring in the qualitative data and context that business owners and their advisers provide. That pragmatic approach is what sets Bizcap apart,” he said. Joseph Lim “With its rapid turnaround time and fast repayment period, Line of Credit Ultra is designed for businesses that need to move quickly. Whether it’s taking advantage of seasonal demand, covering a gap in working capital, or funding a short-term project, our solution ensures SMEs have the capital they need, exactly when they need it,” added Joseph Lim, Bizcap Singapore’s Managing Partner. Product features: Draw limit: SGD $50,000 – $300,000 Fast funding: Access funds within 24 hours Competitive rates: Lowest rates apply from weeks 0-4, giving SMEs who need quick turnaround funding favourable payback rates. Note: additional fees apply. Bizcap is offering select advisers access to bring this solution to their clients. Interested partners can contact partners@bizcapfunding.sg or visit our website. Bizcap’s Tick ‘n’ Flick option is also available for this product, where advisers can hand the customer’s details over to Bizcap’s lending team to guide the customer, all while earning commission without having to do the heavy lifting.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik   The post Bizcap’s Line of Credit Ultra a Game-Changer for SMEs Seeking Fast, Flexible Funding appeared first on Fintech Singapore.

OCBC has appointed Melvyn Low as its Group Chief Strategy and Transformation Officer, according to The Business Times. Melvyn Low Effective 10 November, he will shape the group’s long-term strategy and identify new growth opportunities. Low will continue to lead the global transaction banking division, which he has headed since 2018. Under his leadership, the business doubled its total income in five years and exceeded its Greater China target ahead of schedule, securing nearly 600 mandates by mid-2025. With more than three decades in banking, Low has held senior roles in cash management, trade, and securities services across regional and international institutions. He helped drive OCBC’s digital solutions for corporate clients and was a key figure behind the 2021 PayNow–PromptPay cross-border linkage between Singapore and Thailand. He is also a Distinguished Fellow of the Institute of Banking and Finance, co-chairs the steering committee governing PayNow cross-border linkages, and sits on the boards of NETS and the Singapore Trade Data Exchange.     Featured image: Edited by Fintech News Singapore, based on image by leungchopan via Freepik The post OCBC Taps Transaction Banking Veteran Melvyn Low to Steer Group Strategy appeared first on Fintech Singapore.

Ripple has secured US$500 million from global investors at a US$40 billion valuation, marking a new milestone as the company expands further into payments, custody, and stablecoins. The funding, representing new common equity, was led by funds managed by affiliates of Fortress Investment Group and Citadel Securities, with participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. It follows Ripple’s US$1 billion tender offer at the same valuation after what it described as its strongest year to date. Ripple has repurchased more than 25% of its outstanding shares in recent years to provide liquidity for employees and early backers. The new investment deepens ties with financial partners whose expertise complements its expanding suite of products. In just over two years, Ripple has completed six acquisitions, including two worth over US$1 billion, expanding into payments, custody, and stablecoin infrastructure while entering new areas such as prime brokerage and treasury management. Ripple Payments now handles over US$95 billion in volume, using Ripple USD (RLUSD) and XRP to improve transaction speed and liquidity management. The company holds 75 regulatory licenses that allow it to move funds globally by cutting intermediaries and simplifying liquidity flows. Recent acquisitions include stablecoin infrastructure provider Rail and treasury software firm GTreasury, which manages trillions in volume for Fortune 500 clients seeking to use digital assets for real-time cross-border transactions. RLUSD has surpassed a US$1 billion market cap in less than a year since launch. Ripple also completed its acquisition of Hidden Road, now Ripple Prime, which uses RLUSD as collateral. Since the deal, client collateral has doubled, daily transactions have exceeded 60 million, and the business has tripled in size. Ripple Prime is expanding into collateralised lending for XRP and serving a growing base of institutions trading XRP-based products. Brad Garlinghouse “This investment reflects both Ripple’s incredible momentum, and further validation of the market opportunity we’re aggressively pursuing by some of the most trusted financial institutions in the world. We started in 2012 with one use case – payments – and have expanded that success into custody, stablecoins, prime brokerage and corporate treasury, leveraging digital assets like XRP. Today, Ripple stands as the partner for institutions looking to access crypto and blockchain.” said Brad Garlinghouse, Ripple CEO. Featured image: Edited by Fintech News Singapore, based on image by mangpor2004 via Freepik The post Ripple Valued at US$40 Billion After Securing US$500 Million Strategic Investment appeared first on Fintech Singapore.