BitGo has appointed former MAS and TRM Labs executive Angela Ang as Managing Director of APAC and President of BitGo Singapore. She took up the roles after clearing all regulatory and fit-and-proper requirements. Angela will oversee BitGo’s regional growth, market development and operating infrastructure. She will also lead the company’s efforts to grow its institutional business across Asia Pacific. Angela joins BitGo from blockchain intelligence firm TRM Labs, where she served as Head of APAC Public Policy and Strategic Partnerships. She was also part of the company’s founding APAC team and supported its expansion across the region. Before joining TRM Labs, Angela spent more than a decade at the Monetary Authority of Singapore. She led the team that developed and implemented Singapore’s payments and crypto licensing regime. Angela Ang Angela said, “BitGo has built its reputation by focusing on the requirements that matter most to institutions: security, compliance, resilience, and trust. Singapore has established one of the world’s most respected regulatory frameworks for digital assets, and APAC is entering an important phase of institutional market development. I am excited to join BitGo and work with our teams, clients, and partners to expand access to safe, scalable, and regulated digital asset solutions across the region.” BitGo Singapore is regulated by MAS as a Major Payment Institution. Singapore serves as a strategic hub for BitGo’s wider APAC operations. The company provides institutional services covering digital asset custody, wallets, trading, financing, settlement, staking and stablecoin infrastructure.     Featured image: Edited by Fintech News Singapore, based on image by vykhopentaras via Magnific The post Former MAS and TRM Labs Exec Angela Ang Joins BitGo as APAC Lead appeared first on Fintech Singapore.

Flagright has raised US$12.5 million in a Series A funding round led by Infinity Ventures. The round also included participation from Sella and existing investors Frontline and Y Combinator. The Series A follows a US$4.3 million seed round announced in April 2025, which was led by Frontline Ventures. Flagright plans to use the funding to expand explainable AI across its financial crime compliance operations and strengthen its presence in the United States. This will include investigations, alert intelligence, rule optimisation, decision support and audit-ready workflows. The company provides transaction monitoring, watchlist screening, risk scoring, case management, AI forensics and governance tools through a single platform. The platform is designed for banks, fintech companies, credit unions and other regulated financial institutions. Baran Ozkan Baran Ozkan, CEO and Co-Founder of Flagright, said, “This round helps us accelerate our position as the enterprise standard for financial crime compliance by expanding explainable AI use cases across compliance operations and increasing our US market presence, while we continue serving sophisticated clients with the reliability and depth they expect from a mission critical software.” Madhu G Nadig Madhu G. Nadig, CTO and Co-Founder of Flagright, said, “AI in compliance only matters if it is explainable, governable, and useful in real operations. The market does not need another black box tool. It needs an operating system that brings monitoring, screening, investigations, governance, and explainable AI together in one place. We are building the system of choice for sophisticated institutions that need AI they can trust, audit, and operationaliae at scale.”     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Magnific The post Flagright Raises US$12.5 Million in Series A Funding appeared first on Fintech Singapore.

Robinhood will lay off about 10% of its full-time workforce as part of efforts to remain lean and speed up product development. According to an SEC filing, the company will also cancel hiring for a small number of vacant roles. Robinhood expects to record about US$20 million in cash charges related to severance and employee benefits, along with roughly US$8 million in share-based compensation costs. The company expects to recognise the charges in the second quarter of 2026. Robinhood announced the layoffs despite reporting record average daily trading volumes in June to date across equities, options and prediction markets.     Featured image: Edited by Fintech News Singapore, based on image by pe_jo via Magnific The post Robinhood Layoffs to Affect 10% of Staff Despite Record Trading Volumes appeared first on Fintech Singapore.

BitGo Singapore will support dtcpay’s expansion across global payment markets with its digital asset infrastructure. dtcpay plans to use the infrastructure to strengthen asset security and improve its operational capabilities. BitGo Singapore is licensed by the Monetary Authority of Singapore as a Major Payment Institution for Digital Payment Token Service and Cross-border Money Transfer Service. Angela Ang, Managing Director of BitGo Singapore, said, “We believe dtcpay is playing an important role in real-world digital asset adoption through regulated payment solutions. As dtcpay expands across new markets, our role is to provide the secure and regulated infrastructure that allows them to scale effortlessly.” Alice Liu Alice Liu, Founder and CEO of dtcpay, said, “BitGo Singapore’s regulated infrastructure is the ideal foundation for dtcpay to scale our global payment network, and this partnership reflects our shared belief that the future of finance is built on security, transparency, and regulatory integrity.” The companies also plan to explore further collaboration in infrastructure, connectivity and ecosystem partnerships across regulated digital asset markets.     Featured image: Edited by Fintech News Singapore, based on image by rajacuann via Magnific   The post dtcpay Taps BitGo Singapore for Secure Digital Asset Infrastructure appeared first on Fintech Singapore.

Even the people who study fake faces for a living are no longer comfortable trusting what they see on screen. Dominic Forrest, Chief Technology Officer at iProov, said that he has spent more than a decade studying manipulated faces and the ways attackers try to fool identity systems. But right now, the problem he’s facing is that the old visual clues are disappearing. “I have spent the last 13 years looking at fake faces, and I can no longer tell the difference,” Dominic told the webinar hosted by Fintech News Network. Coming from someone with that much experience in the field, the admission is difficult to brush aside. It says a lot about how far deepfake tools have advanced, and how little ordinary users can rely on what looks real during a live digital interaction. His point also lands at a time when deepfake fraud in the Asia Pacific (APAC) is becoming harder for banks to treat as a future concern. Reports of GenAI-enabled scams rose 456% between May 2024 and April 2025, adding urgency to a discussion that centred on how banks can keep trust intact when impersonation looks increasingly convincing. Generative AI is putting more pressure on banks to prove who is behind a screen without turning every digital interaction into a frustrating checkpoint. The webinar brought together executives from Tonik, GXBank, Ryt Bank and iProov to discuss how financial institutions are responding as AI-driven fraud becomes more convincing. Existing eKYC, biometric authentication and liveness checks have helped digital finance scale within APAC, but deepfake fraud attacks are now testing its limits, whether those controls can keep learning as quickly as fraudsters change their tactics. Deepfakes Are Becoming Easier to Launch Dominic pointed out that the most striking change in the fraud landscape is how quickly convincing attacks can now be created, with believable fakes no longer requiring a professional or expensive setup. According to him, iProov tracks more than 130 face-swapping tools, many of which are available at a surprisingly very low cost. Some are even free. With a single still image from LinkedIn or a company website, someone can now appear as another person on a live video call, which has led to the barrier to entry dropping significantly, turning deepfake scams into something far more easily accessible than they were just a few years ago. Gan Kee Lim, Head of CyberSecurity and Tech Risk at GXBank, noted that digital banks in Malaysia are seeing the same change in the threat landscape. “Fraud is no longer just poorly worded phishing emails. It now involves hyper-realistic deepfakes, voice cloning and AI-enabled chatbots,” Gan said. Attackers are also treating fraud more like a scalable business. Gan described the rise of cybercrime-as-a-service models, where criminal tools and attack methods can be shared quickly across groups and markets. The pace of those attacks puts pressure on banks that still depend heavily on manual review. “Manual fraud reviews are no longer sufficient,” Gan noted. GXBank has responded by using internally developed AI tools to support fraud detection and transaction monitoring. Gan added that the bank has reduced case assessment time from around 15 minutes to close to five minutes, while keeping human review in the decision-making process. Southeast Asia’s Digital Growth Has Created a Larger Attack Surface GXBank’s use of AI in fraud detection reflects a wider pressure across the region, as more banking activity moves onto digital channels. Within the APAC picture, Southeast Asia has become a particularly important market to watch. Dominic noted that the region stands out because many countries have moved quickly into digital-first financial services, bringing more first-time users into online banking. The wider access has been positive for customers, especially in markets where digital banks are trying to reach underserved segments. The same growth also gives criminals more chances to test new tactics at scale. During the webinar, the discussion referenced iProov’s finding that attacks in Southeast Asia rose sharply in 2025, including a 719.55% increase in Q3. Gan noted that better detection may have contributed to the higher number of recorded cases. Even with that caveat, he added that the underlying threat is still growing as generative AI helps fraudsters move faster. Catherine Paleracio, Chief Information Security Officer of Tonik, gave digital banks a warning. “It is not the time for us to be lax,” Catherine said. Tonik is responding by strengthening its cyber resilience programme and using AI-driven analysis to support fraud prevention. Catherine also said an attack on one financial institution should be treated as a warning to the wider financial industry. Fraud tactics can travel quickly across Southeast Asia once criminals find an approach that works, and these groups have been seen to be learning from each other while often reusing successful playbooks that have worked in other markets. Banks Need to Authenticate Presence, Not Just Faces When fraud tactics can move quickly across markets, banks have less room to wait until something looks suspicious after the fact. Banks need enough confidence during the interaction itself to know whether the person behind the screen is real. All this while financial institutions have already built many of their digital journeys around identity verification. eKYC and biometric checks have made remote onboarding possible, while liveness checks have helped institutions confirm that a customer is not simply presenting a static image or recording. Julius Rajeswaran, Chief Operating Officer of Ryt Bank, took that point further, arguing that banks need to think more carefully about what they are actually proving. “Authenticating faces is important, but authenticating presence is what we need to concentrate on,” Julius stated. A face match may only show that an image resembles the customer. Deepfake fraud prevention now requires banks to assess whether a real person is present and whether the interaction fits the customer’s usual behaviour. Higher-risk moments may also need another layer of checks. Julius added that fraud controls cannot create too much friction for customers. Ryt Bank has onboarded 1.2 million customers in seven months, and that scale makes customer experience a central part of the security conversation. “Whatever we do in the fight against fraud has to be invisible to the customer,” Julius noted. Deepfake fraud in APAC is forcing banks to work within a narrow space. Controls have to become stronger without making the digital banking journey feel harder than customers are willing to accept. Stronger Security Still Has to Work for Everyone Keeping the digital banking journey from feeling too difficult becomes even more complicated when customers do not all come to the service with the same devices or digital confidence. Julius pointed to older customers and vulnerable segments as part of that challenge. Lower-end devices add another layer of difficulty because a biometric system that works well on a flagship smartphone may perform differently on a low-cost Android phone with a weaker camera. Dominic made a similar point from the technology side, stressing that inclusivity cannot be treated as a nice-to-have. Identity verification systems need to work reliably for customers with different skin tones and across a wide range of age groups. The same standard also has to hold when device quality or network conditions are less than ideal. He noted that iProov has operated across more than 27,000 makes and models of devices globally. Some users may be trying to complete onboarding or authentication on very low-cost devices, with unstable internet connections making the process even harder. Digital banking security cannot be built only for customers with the latest phones and strong connectivity. Banks risk excluding users, or giving them a weaker experience, if identity checks fail to work reliably for the people who most need digital financial services to be accessible. Catherine explained that onboarding remains one of the most vulnerable customer touchpoints because it is where a bank establishes identity. At Tonik, the bank combines multiple data points in the background, including eKYC and liveness checks. Document checks and device behaviour also help the bank strengthen fraud detection without overwhelming customers. One-Time Verification Is No Longer Enough At the end of the discussion, Dominic brought the issue back to whether banks can keep identity checks effective after the first moment of verification. He urged financial institutions to look closely at whether their existing biometric liveness systems can stand up to today’s AI-generated attacks. eKYC and broader identity verification controls also need the same level of scrutiny. External testing matters here too, and so do recognised certifications and standards, because banks in APAC cannot rely only on vendor claims when tools that are being used for deepfake fraud keep evolving. A customer may pass authentication at the start of a session, only for the risk picture to change minutes later as their behaviour or device signals begin to look different. “Verification can no longer be a one-time gate,” Dominic highlighted. Across APAC, the next stage of deepfake fraud prevention will depend on controls that can adapt throughout the customer journey, especially during account recovery and higher-risk transactions. The full discussion goes deeper into how Tonik, GXBank, Ryt Bank and iProov are thinking about deepfake fraud and the future of identity checks in APAC. Watch the full webinar here: Featured image: Edited by Fintech News Singapore based on an image by user850788 via Magnific. The post If Deepfakes Can Fool the Trained Eye, What Should APAC Banks Do? appeared first on Fintech Singapore.

Although AI adoption is surging across enterprises, only about half of organizations have established clear AI usage policies, according to a recent survey by Okta. This underscores a significant gap between AI adoption and governance, highlighting an urgent need for stronger security controls and guardrails. The study, which polled 292 executives and 492 knowledge workers to explore their perceptions, experiences, and usage habits regarding AI and AI agents, found that while over 60% of workers use AI tools daily, and AI agents are deployed in more than 90% of organizations, 47% of executives reported their company lacks a formal strategy for AI deployment. While this represents a significant improvement from the 90% figure recorded in 2025, it remains underwhelming given the sheer scale of AI adoption, and creates Results also highlight a disconnect between leadership and staff. 35% of executives reported that their organization’s AI usage policies are unclear, a figure that rises to 57% among knowledge workers. This 22-point gap suggests either that policies exist but aren’t effectively communicated to frontline employees, or that leaders underestimate the practical ambiguity their teams experience. Types of information entered, uploaded, or shared with AI tools, Source: AI Agents at Work 2026, Okta, May 2026 High-risk user behaviors Unclear governance is also actively driving high-risk security behaviors. Findings from the study show that employees regularly share sensitive company and personal data with AI tools including work emails or internal messages (51.4%), HR-related information (35.8%), confidential company documents (29.1%), health-related information (25%), personal ID information (20.3%), and login credentials and passwords (16.3%). Types of information entered, uploaded, or shared with AI tools, Source: AI Agents at Work 2026, Okta, May 2026 The risk extends beyond just data as workers also grant AI tools access to critical internal systems, including files or cloud storage (38.4%), email inboxes (37.6%), workplace collaboration tools (37.4%), and calendars (30.7%). Permission granted to AI tools or agents, Source: AI Agents at Work 2026, Okta, May 2026 These governance gaps have tangible consequences, with 58% of executives reporting that their organization experienced an AI-related security incident or a close call in the past year. AI adoption in the enterprise In the enterprise, AI has become the standard. Nearly two-thirds (64%) of the knowledge workers polled reported using an AI tool at least daily, and a similar proportion (65%) expect to use more AI tools in the next six months. AI agents are also being adopted rapidly. The vast majority (92%) of the executives surveyed said that autonomous AI agents are already in widespread (58%) or moderate (35%) use within their organization. In fact, AI agents are actually the most used AI tools, utilized by 68% of workers, followed by large language models (LLMs) and chatbots at 62%. Other AI tools such as writing assistants, coding assistants, browser extensions, and industry-specific utilities, are also common. Findings from the Okta survey mirror a separate 2026 study by LayerX Security, which also found widespread adoption of AI tools in the enterprise but which also emphasizes that usage is increasingly fragmented across platforms. While 70.44% of users rely on a single AI assistant, nearly 30% use multiple AI platforms, including 21.16% using two tools and over 8% using three or more. On average, enterprise users interact with 2.24 AI applications, while the median user utilizing two AI tools. ChatGPT leads the pack in enterprise AI usage, both in adoption and engagement, with about 36% of enterprise users interacting with ChatGPT, and the app driving over 55% of all AI conversations. Microsoft’s enterprise-focused offering Copilot M365 follows with 29% of users and 23% of conversations, trailed by Gemini and Claude. AI platforms: users versus conversations, Source: State of AI Usage Report 2026, LayerX Security, May 2026 As AI adoption accelerates and as associated data risks become increasingly prevent, the AI model risk management market is expanding rapidly. One research firm forecasts that by 2030, this market will reach US$15 billion, rising at a compound annual growth rate of about 16% from US$7.17 billion in 2025. This expansion will be driven by several key factors, it predicts, including increasing demand for transparent decision systems, and adoption of automated risk monitoring tools, but also mandatory AI compliance regulations, and growing deployment of generative AI models.   Featured image: Edited by Fintech News Singapore, based on image by ttonaorh via Magnific The post Rapid AI Adoption Outpaces Security Policies in Enterprises appeared first on Fintech Singapore.

Visa has partnered with Mintoak to help Asia Pacific acquirers offer merchants more than payment acceptance. The partnership will give banks and financial institutions access to a digital platform that combines in-store and online payments with reporting, data insights, merchant engagement tools and integrated banking services. Visa will contribute its payments network, data and advisory capabilities, while Mintoak will provide its cloud-native, API-led platform. The platform is expected to help acquirers launch services faster, improve merchant activation and generate revenue from additional offerings. Mintoak’s platform gives merchants one place to manage payment acceptance, access business insights and handle service needs. It can be integrated with an acquirer’s existing systems, allowing acquirers to retain ownership of their merchant relationships. Prateek Sanghi Prateek Sanghi, Head of Visa Consulting & Analytics for Asia Pacific, said, “Acquirers play a critical role in the payments ecosystem, but the expectations of merchants are evolving rapidly. By partnering with Mintoak, we are empowering acquirers with modular, software-led capabilities that support deeper merchant engagement, more efficient servicing and sustainable, long-term growth.” Raman Khanduja Raman Khanduja, Co-founder and CEO of Mintoak, added, “By building on the foundation of payments with platform-led engagement, we are enabling acquirers to strengthen competitiveness, enhance merchant lifetime value and unlock new avenues for growth in the SME segment.” The collaboration also supports Visa’s efforts to expand card and digital payment acceptance among underpenetrated SMEs across Asia Pacific. It aims to speed up and lower the cost of onboarding, expand payment acceptance and help acquirers respond to margin pressure and rising service expectations.     Featured image: Edited by Fintech News Singapore, based on image by user23413193 via Magnific The post Visa Taps Mintoak to Bring Payments, Business Tools Into One Platform appeared first on Fintech Singapore.

Swift has appointed Michael Manos as Chief Information Officer (CIO) to lead its technology platform strategy across network, security and cloud capabilities. He will oversee Swift’s response to developments in AI and its work on tokenisation and post-quantum cryptography while maintaining the security and resilience of its systems. Swift’s network is used by more than 11,500 banks, financial institutions and companies worldwide. Manos will also lead a multi-year roadmap to adopt new cryptographic standards while preserving interoperability and uninterrupted service. He joins Swift from Dun & Bradstreet, where he served as Chief Technology Officer. Manos has more than 30 years of experience and has held senior roles at Fiserv, AOL and Microsoft. He replaces Cheri McGuire, who is retiring after serving as Swift’s Chief Technology Officer since 2021. Michael Manos Michael Manos, CIO of Swift, said, “As Swift works to ensure that regulated digital forms of value can be introduced securely and seamlessly into the ecosystem, I’m looking forward to working with our teams across the world to build on and maintain the trust of our community.”     Featured image: Edited by Fintech News Singapore, based on image by digitizesc via Magnific The post Swift Appoints Michael Manos as CIO to Lead Tech Strategy appeared first on Fintech Singapore.

Singapore is tightening takeover rules to prevent deal protection measures from discouraging competing bids. The revised framework caps total break fees at 1% of a target company’s value and allows the Securities Industry Council to act when exclusivity arrangements deter rival offers. The Monetary Authority of Singapore issued the revised Singapore Code on Take-overs and Mergers on the council’s advice. The changes take effect on 16 July 2026. Target company boards and financial advisers must explain why proposed break fees are in shareholders’ interests and disclose the arrangements in offer documents. Clearer Timelines for Takeovers and Mergers in Singapore Shareholder meetings for schemes of arrangement must generally be held within six months of their announcement. Approved schemes must then proceed without unnecessary delay. A bidder that says it will not increase or extend an offer cannot later reverse that position for a specified period. Indicative prices disclosed before a firm offer will become the price floor for the bid. The council may also give potential offerors 28 days to make a firm offer or walk away. Tighter Oversight of Asset Sales and Defensive Actions Target companies seeking approval for actions that could frustrate an offer must obtain and disclose independent advice on whether the financial terms are fair and reasonable. Companies must also disclose the expected cash return and timing when a sale of all or materially all assets competes with an offer for their shares. The amount will be treated as a profit forecast. The amendments follow a public consultation launched in May 2025. Parties involved in ongoing or planned transactions have been advised to consult the council before the rules take effect.     Featured image: Edited by Fintech News Singapore, based on image by MAS The post MAS Tightens Singapore Takeover and Merger Rules to Protect Competing Bids appeared first on Fintech Singapore.

HSBC plans to develop more than 200 AI use cases with Google Cloud while prioritising projects expected to deliver over US$100 million each in revenue or efficiency gains. The multi-year partnership will initially focus on wealth management support, financial crime risk management and tools for frontline employees and relationship managers across HSBC’s global operations. HSBC will work with engineering teams from Google Cloud and Google DeepMind to develop new AI tools and programmes. The initiative builds on more than 600 HSBC applications already running on Google Cloud. In wealth management, the bank plans to combine AI-generated insights with relationship managers’ expertise to provide more timely and personalised customer support. HSBC will also use generative and agentic AI to identify financial crime risks earlier. The bank expects the technology to help it intervene twice as quickly when potential threats are detected. It monitors close to one billion transactions each month for signs of financial crime. The partnership will also expand an AI decision assistant already used by frontline staff and relationship managers. According to HSBC, the tool has cut administrative work and client meeting preparation from hours to minutes for thousands of employees. The companies also plan to codify regulatory procedures into an AI framework that gives bankers structured options and analysis for decision-making. Georges Elhedery HSBC Group CEO Georges Elhedery said, “AI is becoming one of the defining technologies of our time, allowing us to create a personalised experience for each customer, delivered in real time and at scale, while keeping human judgement, decision-making, and accountability at the core. A partnership like this one with Google Cloud helps us empower our colleagues with the tools they need to be future-ready, and supports our work in building a simple, agile, faster, and more personal HSBC.” Thomas Kurian Google Cloud CEO Thomas Kurian said, “Our partnership with HSBC is a blueprint for the future of the financial services industry. By accelerating AI adoption built with Gemini, our Gemini Enterprise Agent Platform, forward-deployed engineers, and Google DeepMind’s research expertise, HSBC is building a more intelligent, resilient, and responsive bank that can create meaningful value for its customers.”     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Magnific The post HSBC, Google Cloud Target 200 AI Use Cases and US$100 Million Returns appeared first on Fintech Singapore.

Choco Up has secured a US$15 million credit facility from private credit firm AlteriQ Global to expand financing for Singapore SMEs. The first drawdown has been completed. The facility is expected to provide growth and working capital financing to about 500 Singapore businesses. Choco Up recorded an 85% year-on-year increase in financing applications from Singapore SMEs, with artificial intelligence (AI) and technology-related investments becoming more common funding use cases. Percy Hung Founder and CEO Percy Hung said, “This partnership strengthens our ability to support entrepreneurs with financing solutions that help them act on opportunities with greater confidence and speed. It also reinforces our commitment to supporting the next phase of growth for Singapore’s SME community.” The company has disbursed more than S$100 million to Singapore businesses since entering the market. Zhi Yong Heng AlteriQ Global Managing Director Zhi Yong Heng said, “SMEs remain one of the strongest drivers of innovation, employment, and economic activity, yet many continue to face challenges accessing capital that aligns with their growth journey. We believe Choco Up has built a strong platform with a clear understanding of SME financing needs.”     Featured image: Edited by Fintech News Singapore, based on image by noob via Magnific The post Choco Up Secures US$15 Million Credit Facility for SME Financing appeared first on Fintech Singapore.

Stablecoins have the potential to transform cross-border payments by improving speed, efficiency, and reducing costs. However, a new whitepaper from Saber, a stablecoin-native infrastructure company, reveals that while these integrations show promises in pilots, they frequently fail when scaling to production volumes in Asia. The primary hurdles include intricate multi-party connections, critical failure modes that only surface under real load, and a fragmented regulatory landscape. The paper, released in early June, looks at Asia’s diverse cross-border payment corridors, highlighting how stablecoins can theoretically eliminate friction in cross-border payments, while exposing the severe limits and challenges of current implementations. Complex integration According to the paper, the core challenge lies in connecting diverse intermediaries, including banks, liquidity providers, off-ramps, and compliance systems that operate inconsistently across markets. Each of these entities has its own tech stack, data structure, compliance rules, and assumptions about how things should work. Even within the same country, requirements can vary depending on the banking channel or flow type. Furthermore, pilots often hide scale-related issues because early implementations look great when volumes are low, masking the operational messiness that emerges at production levels. As a result, companies may mistakenly believe they have achieved success when they have only proven that a few transactions can work once. Another challenge outlined in the paper is that error handling requirements are routinely underestimated. This is because teams fail to account for timeouts, partial successes, reconciliation gaps, and partner-specific failure patterns that only appear in production environments. Finally, the paper notes that for high-volume operators, integration never ends. Every new corridor requires a new set of partners to vet, connect, monitor, and defend against regulatory and operational shocks, a strategy that frequently transforms into a resource-draining loop of perpetual maintenance. Regulatory fragmentation Beyond technical hurdles, the paper stresses that the regulatory landscape in Asia presents a unique complexity. The region is home to a fragmented and complex regulatory landscape, comprising 48 distinct regulatory regimes, each with asymmetric compliance rules, localized identity verification mandates, and evolving “travel rule” structures. Stablecoin regulation is far from uniform and varies by market with each country’s stance reflecting how regulators balance monetary control, consumer protection, and payment innovation. For advanced markets like Singapore, Hong Kong, and the Philippines, regulators clearly define who can issue, custody, on-ramp, off-ramp, and distribute stablecoins, while in more restrictive markets like India and Vietnam, regulators often limit activity to offshore or bank-mediated models. Additionally, foreign exchange (FX) and capital controls vary wildly. Countries with free or lightly managed capital flows like Singapore allow smoother conversion, while markets with strong capital controls like Vietnam, Indonesia and India tightly govern how and when stablecoins can be converted into local currency. These regulators are also unpredictable. Shifts can occur rapidly, causing smaller partners to pause operations, block flows, or exit corridors entirely. Local partners with deep relationships tend to handle these transitions better. Stablecoin regulations in key Asian markets, Source: Stablecoin Strategy for Asia 2026, Saber, Jun 2026 Pillars for success To address these challenges, Saber proposes four pillars for success. First, the paper emphasizes the need for structural cost efficiency. This involves designing for permanent cost reduction rather than premium dependence, since premiums appear in certain corridors or time windows but remain temporary. Premiums represent the difference between global USD pricing and the local fiat value received at conversion. Consequently, unit economics should focus on shorter prefunding cycles, fewer opaque middlemen, and predictable execution. Second, it advocates for local partnerships by working with deeply embedded entities who can operate through regulatory change, bank behavior shifts, and operational stress. It stresses that Asia lacks a unified payments or compliance framework, implying that execution must always happen inside local licensing and banking boundaries. Third, it recommends proper corridor liquidity management where liquidity is treated as corridor-specific rather than global. Each corridor possesses its own market depth, timing windows, counterparty availability, and risk profile. Exposure should be monitored continuously and dynamically rebalanced, and hardcoding pricing or routing assumptions should be avoided. Finally, the infrastructure should be built with a flow orchestration control layer, prioritizing coordinated control rather than just settlement speed. This layer should enable real-time visibility, enforce consistent policy, reroute flows when conditions change, and absorb partner-specific failures so clients see one stable system. A prominent remittance hub Asia is a leading global remittance hub. In 2024, remittance flows to low and middle-income countries hit roughly US$680 billion, with Asia capturing the lion’s share. India alone pulled in US$129 billion, or 19% of that amount; China, US$48 billion (7%); the Philippines, US$40 billion (6%); and Pakistan, US$33 billion (5%). Asia remittance inflows by country, Source: Stablecoin Strategy for Asia 2026, Saber, Jun 2026 To tap into this opportunity, a thriving ecosystem of stablecoin payment players has emerged over the past few years. It encompasses global and local issuers, infrastructure providers, on/off ramps, liquidity providers, institutional custody firms, and compliance and risk vendors. Asia’s cross-border stablecoin ecosystem, Source: Stablecoin Strategy for Asia 2026, Saber, Jun 2026 Stablecoins have become one of the fastest-growing payment infrastructure in the world. In 2025, these digital currencies processed US$28 trillion in real economic value like payments, remittances and settlement, growing at a compound annual growth rate (CAGR) of 133% since 2023, according to blockchain data platform Chainalysis. If this baseline growth continues with no additional catalysts, the firm projects volumes could hit US$719 trillion by 2035. Projected adjusted stablecoin transaction volume 2023-2035, Source: Chainalysis, Apr 2026   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Magnific The post Despite Promises, Stablecoin Cross-Border Integrations Fail to Scale in Asia appeared first on Fintech Singapore.

Singapore investment platform Arki Finance has received a Capital Markets Services licence from the Monetary Authority of Singapore ahead of its planned public launch later this year. The licence allows Arki to provide regulated investment advisory and portfolio management services to individual investors in Singapore. The company plans to launch with a cash income offering before adding income and growth portfolios for Singapore’s mass affluent market. Established in 2024 as Arche Asset Management, Arki was co-founded by David Ng, who has more than 20 years of global asset management experience. Ng previously worked at Bank of America Merrill Lynch and Morgan Stanley. He also served as group chief operating officer of CSOP Asset Management in Singapore, where he helped oversee an increase in assets under management from US$3.7 billion to more than US$15 billion, according to Arki. Former UOB Kay Hian senior executive director Esmond Choo will chair Arki’s board. Its advisory board includes former Lion Global Investors chief executive Gerard Lee, who previously worked at GIC and Temasek, and Rimmo Jolly, a former Asia Pacific head of iShares at BlackRock. Arki aims to offer investors another option beyond bank deposits and insurance products.     Featured image: Edited by Fintech News Singapore, based on image by freepik via Magnific   The post Arki Finance Gets MAS Licence to Offer Investment Services in Singapore appeared first on Fintech Singapore.

Agentic payments are having a moment, and honestly, where do we even start? It has been hard to avoid the topic lately, partly because some of the biggest names in the industry are starting to bring agents closer to checkout. OpenAI has introduced Instant Checkout inside ChatGPT, Google with its Agent Payments Protocol, while Visa and Mastercard have also entered the space with Visa Intelligent Commerce and Mastercard Agent Pay. Not in a boring way, to be fair. There is something genuinely interesting about the idea of a personal robot shopper that can understand what you want and eventually press pay on your behalf. Still, every time the industry talks about making payments more automated, the conversation somehow finds its way back to the same word. Trust. We saw a version of this when AI first entered banks and financial institutions, when the early excitement around what the technology could do quickly ran into a more practical question. How much control are people actually willing to hand over? Agentic payments seem to be moving through a similar cycle, only this time the stakes feel more personal. Asking AI to recommend a hotel for your next trip feels harmless enough. Letting an AI shopping agent spend your money is another matter. Adeline Kim, the newly appointed Group Country Manager, Regional Southeast Asia & SVP, Global Clients & Acquirers, Asia Pacific at Visa, sees that distinction as central to the next stage of AI-driven commerce. Singapore consumers are clearly not strangers to AI either, with a Visa-commissioned study finding that close to 77% of residents use generative AI tools and 8 in 10 rely on AI assistance when shopping online. People are already bringing AI into the shopping journey, but I have to really ask, do you trust someone else, or in this case, something else, with your money? And Adeline seems to agree with my curiosity. She said: “There is a big difference between using AI to search for a product and allowing an AI agent to act on your behalf when money is involved.” The Agent Should Not Have a Blank Cheque Once an AI agent gets close to the wallet, the concern becomes fairly straightforward. How much freedom should it actually have? Adeline Kim “An AI agent should not have open-ended authority to spend,” Adeline answered directly, meaning that consumer consent, in other words, cannot be vague. The agent needs to have clear boundaries, including how much it can spend and when it needs to check back with the person behind the purchase. She believes that agentic payments work best when the AI agent has a narrow, well-defined job. It may be able to handle a routine purchase within a set budget, but anything unusual should trigger a pause, an extra check or a request for confirmation. “Agents can act at speed, but consumers and issuers should remain in control at key decision points,” Adeline pointed out, adding that faster checkout only works when the agent still knows when to stop and ask. What If the Agent Recommends What It Was Paid to Recommend? Agentic payments also raise a different kind of trust issue, and honestly, it is one I did not think about at first. When an AI agent recommends a product, why did it pick that one? Did it match what the consumer wanted? Was it genuinely the better option? Or did a commercial arrangement play a role? Adeline said transparency will matter here because users have the right to know whether a recommendation reflects their preferences or someone else’s incentive. If money or a partnership influenced the recommendation, the consumer should be able to see that in plain language. Most of us can live with ads when they look like ads. A recommendation feels different when it comes dressed up as neutral advice, especially if money has shaped the suggestion behind the scenes. “Once people feel an agent is not acting in their interests, adoption will slow very quickly,” Adeline cautioned. Mistakes Will Happen, So Resolution Has to Be Clear Even with controls in place, AI agents may still get things wrong. They may misunderstand a consumer’s instruction, buy the wrong item or repeat a purchase. They may also choose a merchant that looked right to the system but was not what the consumer intended. Lionel Grosclaude, CEO of Fime, put this problem in simple terms in a separate interview. An agent could be asked to buy blue shoes and return with a red pair instead. Annoying, yes, but not necessarily serious. The stakes change when the purchase carries health or safety consequences. A missed allergy warning, for example, may still leave behind a transaction that looks valid in the system. The harm, however, sits with the person who trusted the agent. @fintechnewsnetwork What If AI Makes a Bad Purchase For You? AI can already shop and pay on your behalf. But what happens when it buys something you never wanted, or worse, something that puts you at risk? fintech AI payments ♬ original sound – Fintech News Network – Fintech News Network To answer that worry, Adeline said the industry should be realistic about mistakes. “As commerce becomes more autonomous, it is realistic to expect that AI agents may sometimes make mistakes, just as people do today,” she said. “What matters is that the consumer is not left on their own when that happens.” Visa sees accountability and traceability as central to agentic payments because a valid-looking transaction may still need to be questioned if the agent acted outside the consumer’s intent. Trusted agent-initiated transactions should still sit within established payment protections, including dispute and chargeback frameworks, so consumers have a clear route to resolution when something goes wrong. Traceability matters because the transaction journey becomes more complex once an AI agent is involved. The industry needs to know whether the agent followed what the consumer actually asked for. A wrong purchase cannot simply be brushed aside with “the AI did it.” Someone still has to help the consumer make it right. Fraudsters May Start Fooling the Agent, Not Just the Shopper Scammers will not ignore agentic payments, and they will likely adapt quickly. Many scams today try to fool people through convincing-looking storefronts or checkout flows. Agentic commerce could shift part of that target to the AI shopping agent acting on behalf of the consumer. Fraudsters may start designing storefronts or checkout flows that look trustworthy to a machine, even if a human shopper might question them. Adeline warned that fraudsters will always look for the weakest point in any new technology. Agentic commerce, therefore, needs trust on both sides of the transaction. Merchants need to know whether an AI agent is legitimate and acting on behalf of a real, authenticated consumer. AI agents also need to recognise which merchants and checkout flows they can trust. Fraud prevention still needs layers, but the people affected by it should not feel shut out of the process. Adeline pointed to tokenisation, authentication checks, behavioural intelligence and real-time risk scoring as part of the broader defence. The scale of the risk also changes. One shopper may make one bad payment, but a compromised AI shopping agent could trigger multiple transactions quickly if the controls are weak. Adeline said Visa has used AI to protect the payments ecosystem for more than 30 years, analysing over 200 billion transactions a year and 500 data elements in every transaction to help stop fraud in real time. Real-time detection becomes even more important once agents can act quickly. Unusual purchase volume, unfamiliar spending patterns or abnormal agent behaviour should prompt additional checks before the problem spreads. No single company can secure agentic payments alone because the bank, merchant, payment network and AI platform each see different parts of the transaction journey. Trust, in this case, has to be a team effort. Personalisation Is Useful, Until It Starts Feeling Creepy Agentic commerce also raises a privacy question that feels very personal very quickly. An AI agent can only be useful if it understands enough about the consumer, such as their preferences and usual spending habits. But we cannot ask for personalisation and then pretend there is no privacy trade-off. Adeline emphasised that agentic commerce will only work if people trust how their data is being used. The more personal the experience becomes, the clearer the limits around access and permission need to be. The industry also needs to avoid a free-for-all where every party in the transaction gets more information than it needs. The agent may need context, but not everyone needs the full picture. Adeline captured the balance well. “The promise of agentic commerce is personalisation, but with boundaries,” she said. “Consumers should feel that AI understands their preferences, not that they are being watched.” A useful assistant should feel helpful. Once it starts feeling like surveillance with a checkout button, trust becomes much harder to earn. Not Everyone Cares If AI Goes That Far All the excitement around agentic payments can make the industry forget who it is ultimately trying to serve. Yes, some consumers will find it useful if an AI agent can handle a routine purchase without much fuss. But older users or those less comfortable with digital tools may not care for that level of automation, especially when money is involved. Adeline stressed that innovation only matters if people can use it confidently and safely, which means the experience has to be clear enough for consumers to understand what they are authorising and how to change or revoke permission when they need to. “The aim should not be to push everyone into automation,” she said. “It should be to give people more confidence, more control and more choice.” Agentic payments could still become part of everyday commerce, but only if the industry avoids treating every consumer as equally ready for AI to act on their behalf. Giving people “more confidence, more control and more choice” may sound simple, but it is probably the part that will decide how far agentic payments can really go.  After all, there is no AI when you spell out trust, but there is “us”, the humans who still need to stay in control when AI gets closer to our money. Featured image: Edited by Fintech News Singapore based on an image by topntp26 via Magnific. The post What Visa Says Has to Happen Before AI Gets Near Your Wallet appeared first on Fintech Singapore.

Salesforce will acquire customer service AI company Fin for about US$3.6 billion as it expands its Agentforce platform. The deal is subject to customary purchase price adjustments and is expected to close in the fourth quarter of Salesforce’s 2027 financial year, pending regulatory clearances and other closing conditions. Fin, formerly known as Intercom, provides an AI agent that resolves customer enquiries across live chat, email, WhatsApp, SMS, phone and Slack. The technology uses Apex, Fin’s proprietary AI model developed specifically for customer support. Fin’s packaged products and proprietary models will complement Agentforce, Salesforce’s platform for deploying autonomous AI agents. The acquisition is expected to give businesses more ways to introduce AI agents into their customer service operations. Fin offers faster deployment options, particularly for smaller businesses and some commercial organisations, while Agentforce supports more tailored enterprise-scale implementations. Fin cited customer examples in which its AI agents resolved an average of 76% of support volume from start to finish. The company has a global customer base of more than 30,000 businesses. Marc Benioff Salesforce Chair and CEO Marc Benioff said, “Fin brings proven agent technology, a deep commitment to customer success, and an incredible AI team that will complement Agentforce with powerful service agent capabilities. Together, we’ll help companies of every size seize this opportunity — accelerating time to value with trusted agents that deliver measurable outcomes at scale.” Eoghan McCabe Fin CEO and Co-Founder Eoghan McCabe said, “Our technology has defined this category and set the new standards for what great customer service looks like today. By joining forces with Salesforce, we can deploy it far and wide at a rate far faster than we could have ever achieved on our own.” Agentforce reached US$1.2 billion in annual recurring revenue in the first quarter of Salesforce’s 2027 financial year, up 205% from a year earlier. Based on the expected closing date, Salesforce does not expect the deal to affect its fiscal 2027 guidance or capital return programme.     Featured image: Edited by Fintech News Singapore, based on image by ismode via Magnific The post Salesforce to Acquire Fin for US$3.6 Billion to Expand AI Agent Offerings appeared first on Fintech Singapore.

Singapore will introduce an over-the-counter gold clearing system and central bank vaulting services as it strengthens its role in Asia’s gold market. Deputy Prime Minister Gan Kim Yong announced the measures at the Asia-Pacific Precious Metals Conference on 15 June 2026. Singapore Exchange will establish the clearing system for Loco Singapore by the end of 2026, with interbank trading expected to build from 2027. The system will support large gold bars and kilobars, helping market participants clear and settle transactions more efficiently during Asian trading hours. DBS, Deutsche Bank, ICBC Standard Bank, J.P. Morgan, OCBC and UOB will sign an agreement with SGX to participate as clearing members and support trading and price discovery. MAS to Offer Gold Vaulting Services The Monetary Authority of Singapore will begin offering gold vaulting services to foreign central banks and sovereign entities by October 2026. The service will complement more than 2,000 tonnes of commercial storage capacity already available in Singapore. MAS will also extend gold accounts to selected Singapore-based bullion banks, enabling them to provide liquidity and related services to foreign central banks and sovereign entities. SGX is separately exploring a physically deliverable gold futures contract, while banks are studying the use of tokenised gold. MAS will also remove the 5% cap on physical investment precious metals under tax incentive schemes for funds. The change will give eligible funds and family offices more flexibility to invest in physical gold, with further details expected by September 2026. Asia accounts for roughly 70% of annual consumer gold demand, but much of the market’s trading, liquidity and price discovery remains concentrated in London and New York. Singapore aims to complement these established centres by supporting gold trading, settlement and storage during Asian hours.     Featured image: Edited by Fintech News Singapore, based on image by ttonaorh via Magnific The post Singapore to Launch Gold Clearing System, Central Bank Vaulting Services appeared first on Fintech Singapore.

Nuvei will pursue a US$2.75 billion acquisition of Payoneer, combining two payments businesses focused on local and cross-border commerce. Under the agreement, Nuvei will buy all issued and outstanding common shares of Payoneer Global Inc. for US$7.40 per share in cash. The combined company is expected to generate about US$3 billion in annual revenue and process more than US$500 billion in annual payment volume. It is also expected to serve more than 2.4 million customers. The deal would expand Nuvei’s services for businesses that need to accept, hold and move money across markets. The combined platform will cover more than 190 countries and territories, with services including payment acceptance, payouts, multi-currency accounts, card issuing, treasury, foreign exchange and embedded financial services. Payoneer adds cross-border payout capabilities, multi-currency accounts and a banking network that supports same-day and real-time settlement in more than 150 markets. The platform is expected to support businesses selling through digital commerce platforms such as Amazon, eBay, Walmart, Airbnb, Fiverr, Upwork, Etsy, ByteDance, Shopify and WooCommerce. Payoneer also has licences and authorisations across several markets. These include licensing for online payment services in mainland China and authorisation in principle as a cross-border payment aggregator in India under the Reserve Bank of India’s framework. The acquisition would also support newer payment models, including stablecoin payments, agentic commerce and platform-based financial services. Phil Fayer Phil Fayer, Chairman and Chief Executive Officer of Nuvei, said, “The acquisition of Payoneer marks a defining step in Nuvei’s evolution into a global financial infrastructure leader. By combining complementary capabilities, we can offer businesses a more complete platform to accept payments, send funds, issue cards, manage treasury and FX needs, and access embedded financial services – at scale.” John Caplan John Caplan, Chief Executive Officer of Payoneer, said, “For two decades, Payoneer has earned the trust of millions of businesses in markets where trust takes years to build. We have transformed our business with extraordinary results, and our combination with Nuvei will extend what we can offer customers.”     Featured image: Edited by Fintech News Singapore, based on image by smartmalik6384 via Magnific The post Nuvei to Acquire Payoneer in US$2.75 Billion Payments Deal appeared first on Fintech Singapore.

LSEG Workspace now provides access to the newly launched LSEG Sustainability Ratings and Data. The new suite of ESG scores and sustainability analytics is designed to provide actionable sustainability insights to global financial markets through enhanced transparency, comparability and analytical value. This next-generation data solution simplifies the complex landscape of sustainability reporting, regulation and investor needs that is all in one integrated experience inside Workspace. The new ESG Scores, available across multiple LSEG platforms, are built on a research-driven methodology aligned with leading global sustainability frameworks and regulations such as ISSB, GRI, SASB and ESRS. Built on more than 25 years of LSEG and FTSE Russell expertise, LSEG Sustainability Ratings and Data combines standardised sustainability data, ESG materiality assessments, and dynamic ESG scores. The suite is designed to deliver a comprehensive view of corporate sustainability performance. Inside LSEG’s Sustainability Dataset The dataset covers more than 16,000 companies, 1M+ fixed income instruments, and includes 240+ standardised metrics based on 2,000+ underlying data points. The enhanced model uses a sustainability-first materiality matrix combining a redesigned industry classification with a double materiality approach at a business-segment level. It also provides transparent scores on a scale of 0, not aware, to 5, leading. The scores measure companies’ management of material ESG risks and opportunities across 12 Themes, providing decision-useful sustainability insights for a wide range of financial workflows. The new framework introduces threshold-based scoring, capped metrics and performance analytics, rewarding companies that implement strategic ESG initiatives and show verifiable sustainability progress. For deeper insight, Sustainability Ratings and Data also includes an optional ‘Plus’ layer. This incorporates controversies, sovereign ESG risk and positive environmental impact signals such as green revenues and sustainable financing. Explore the full capabilities of LSEG Sustainability Ratings and Data in Workspace here.      Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Magnific The post LSEG Workspace Adds Sustainability Ratings and Data for ESG Analysis appeared first on Fintech Singapore.

ING has trimmed its holding in TMBThanachart Bank through a share buyback, lowering its stake in the Thai bank from 23.1% to 19.5%. The move was made through TMBThanachart Bank’s latest share buyback programme and will bring ING about €243 million in gross proceeds, based on current exchange rates. ING framed the sale as part of its efforts to manage capital and review its investment portfolio. The Dutch bank will remain a significant shareholder in TMBThanachart Bank and continues to maintain a longstanding partnership with the lender. The transaction is not expected to have a material impact on ING’s profit and loss account, shareholders’ equity or capital ratios. ING became a shareholder through its earlier involvement in TMB Bank, which later merged with Thanachart Bank to form TMBThanachart Bank.     Featured image: Edited by Fintech News Singapore, based on image by ttb The post ING Cuts Stake in Thailand’s TMBThanachart Bank to 19.5% appeared first on Fintech Singapore.

Singapore will roll out an updated framework for Single Family Offices (SFOs) on 15 June 2026, streamlining exemptions while enhancing regulatory monitoring. The Monetary Authority of Singapore (MAS) said the changes will give qualifying SFOs a simpler process to establish operations in the country. Under the framework, eligible SFOs will not need to apply for a licence. They will instead need to notify MAS of their operations, maintain an account with a MAS-licensed bank and file a basic annual return. The annual return will include information on total assets under management and the name of the SFO’s bank. The structure-agnostic framework allows eligible SFOs to use a straight-through class exemption regardless of how they are set up. The changes follow an earlier public consultation. MAS published its policy responses to industry feedback in November 2024 and incorporated sector input into the final framework. Existing SFOs operating in Singapore will have a one-year transition period to meet the new requirements and must comply by 15 June 2027.   Featured image: Edited by Fintech News Singapore, based on image by MAS   The post Existing Single Family Offices Get One Year to Meet New MAS Rules appeared first on Fintech Singapore.