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

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

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

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

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

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

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

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

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

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

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

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

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

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

More than 30 global banks are teaming up with Swift to end hidden fees and slow transfers, setting new rules for retail cross-border payments. Swift said it will launch a new scheme to make international transfers faster, more predictable and transparent for consumers and small businesses. Participating banks will provide upfront disclosure of fees, full-value transfers without hidden charges, end-to-end visibility and instant settlement where local infrastructure and rules allow. The initiative supports the G20’s 2027 roadmap for cross-border payments and builds on upgrades that have already sped up wholesale transactions. Today 75 percent of payments on Swift’s network reach beneficiary banks within 10 minutes, and the new rules are meant to bring the same experience to retail customers. Banks from 17 countries, including Bank of America, Deutsche Bank, ICICI Bank, JPMorgan Chase, OCBC Bank, Banco Santander, UOB and Wells Fargo, are among the first adopters. They will set the rules in stages and create mechanisms to ensure adherence over time. Thierry Chilosi Thierry Chilosi, Chief Business Officer at Swift, said, “Swift has worked with its community over the past few years to significantly raise the bar on the cross-border payments experience. And now, together with the industry, we are bringing those same benefits to retail customers around the world. The new scheme will ensure that consumers and small businesses will experience fast and predictable international payments, whether sending money to family abroad or paying an overseas supplier.” Swift said the project tackles last mile delays, which account for most of the time once a payment leaves its network. A new paper shows only about 20 percent of a typical transaction takes place on Swift, while 80 percent is spent in the last mile due to local regulations, infrastructure and practices. The scheme also builds on Swift Go and experience benchmarking for consumer channels. By extending its upgraded capabilities to retail payments, Swift and its partners aim to improve international transactions for around 4 billion accounts in more than 200 countries.     Featured image: Edited by Fintech News Singapore, based on image by Swift The post Major Banks Partner with Swift to Tackle ‘Last Mile’ Delays in Cross-Border Payments appeared first on Fintech Singapore.

Tyme Group is accelerating its Southeast Asian expansion, planning to launch full retail banking services in Indonesia through an acquisition after rolling out GoTyme Indonesia’s MSME lending products earlier this year. The Singapore-headquartered digital bank has also set up a data processing hub in Vietnam in preparation for its next market entry, DealStreetAsia reported. GoTyme Indonesia currently offers merchant financing products such as GoTyme Modal supported by Olsera and Luna Capital Modal Xpress. These services, developed with partners including Olsera, danabijak and Finfra, have disbursed more than IDR 10 billion to merchants with fast approval and flexible repayment options. Tyme entered the Philippines in 2022 via a joint venture with the Gokongwei Group and has since grown GoTyme Bank to 7 million customers and has disbursed over PHP 5 billion in loans as of the end of July. In South Africa, TymeBank serves about 11 million customers. The company counts Brazil’s Nubank and China’s Tencent among its investors. The group’s push into retail banking in Indonesia highlights the country’s growing role in Southeast Asia’s digital banking race. With high smartphone use but relatively low formal banking penetration, Indonesia, Vietnam and the Philippines have emerged as the region’s biggest opportunities for digital lenders. If successful, Tyme would transition from a primarily MSME-focused operator in Indonesia to a full-service digital bank competing with local players such as GoTo’s Bank Jago and Grab-linked lenders.     Featured image: Edited by Fintech News Singapore, based on image by karandaev via Freepik The post Tyme Targets Retail Banking in Indonesia via Acquisition, Plans Vietnam Launch appeared first on Fintech Singapore.

ShopBack appoints fintech veteran Carolina Paradas as General Manager for North America to spearhead its U.S. expansion after logging three consecutive quarters of adjusted EBITDA profitability. The Asia-Pacific shopping and rewards platform, headquartered in Singapore, said the appointment marks a key step in its expansion into the U.S. market. Paradas joins ShopBack from Fidel API, later acquired by Enigmatic Smile, where she helped grow the platform from 5 million to more than 250 million cardholders and secured partnerships with Cash App, DoorDash, Affirm and Bilt Rewards. ShopBack said her experience scaling fintech partnerships will help replicate its Asia-Pacific success in the competitive U.S. rewards space. Unlike traditional cashback platforms, ShopBack operates as a multi-layered ecosystem combining affiliate marketing, cashback rewards, card-linked offers and payments integration, which the company says has driven sustained profitability and reflects its consumer-first model. The platform now serves over 55 million users across 13 markets. The move comes as inflation pressures drive Americans to seek more value from their purchases and younger consumers increasingly move away from traditional loyalty programs. ShopBack aims to appeal to this demographic with mobile-first, gamified experiences and performance-based loyalty solutions for retailers. Joel Leong “Carolina’s expertise in scaling fintech partnerships and launching industry-first products makes her ideal to lead our North American expansion. Her ability to navigate complex fintech acquisitions while maintaining commercial growth demonstrates the strategic leadership we need to differentiate ShopBack in the U.S. market.” said Joel Leong, Co-Founder of ShopBack. Carolina Paradas “The U.S. rewards landscape is ripe for disruption. Traditional platforms are still thinking desktop-first while consumers live mobile-first. ShopBack’s proven GenZ engagement combined with our profitability milestone, positions us to reimagine how Americans discover and earn rewards.” said Paradas, General Manager of North America at ShopBack.     Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik The post ShopBack Taps Carolina Paradas to Drive U.S. Expansion Plans appeared first on Fintech Singapore.

Global financial platform Airwallex is fast-tracking its expansion in the Middle East, securing key licences, setting up new operations and striking regional partnerships. In the United Arab Emirates, the company has received in-principle approval from the Central Bank of the UAE for Stored Value Facilities and Retail Payment Services (Category II) licences. This includes approval for a Stored Value Facilities wallet that will support all businesses, including small and medium-sized firms. The licences will enable Airwallex to offer multi-currency accounts, global transfers, payment acceptance and corporate cards in the UAE. The company said it is increasing its office presence and staff in preparation for going live. In Saudi Arabia, Airwallex has incorporated a new entity following its incorporation approved by the Ministry of Investment. The company said this reflects its commitment to supporting Saudi Arabia’s Vision 2030 agenda and to playing a role in the kingdom’s growing digital economy. The company has also partnered with Tabby, the Middle East’s leading buy now, pay later provider, to enable BNPL payment options at checkout for merchants in the UAE and Saudi Arabia. This aims to help global merchants offer localised payment experiences, drive higher conversion, larger basket sizes and stronger engagement with shoppers in Gulf markets. Jack Zhang Jack Zhang, Co-Founder and CEO of Airwallex, said, “We are building the future of global banking and finance, and when you consider the UAE’s 2031 Vision and Saudi Vision 2030, nowhere is more forward-looking than the Middle East. This is why it is so exciting to have secured our In-Principle Approval for payments licence in the UAE, and established our first entity in KSA. Market entry in the region will not only empower our 150,000 existing global customer base, but it will also create huge opportunities for local businesses – big and small.” Jeanette Chan Jeanette Chan, Chief Legal, Compliance and Risk Officer at Airwallex, added, “As an infrastructure-first company, we have spent ten years diligently working with regulators and building our infrastructure. We now have over 60 licences and permits globally, and these new steps in the UAE and Saudi Arabia are an exciting part of our broader strategy to provide our customers with the right technology and opportunities to be ‘default global’ across our entire product suite”. Airwallex’s push into the Middle East comes as it scales operations globally. The company recently closed a US$300 million Series F funding round at a US$6.2 billion valuation and announced a global partnership with Arsenal Football Club, complementing its existing deal with McLaren Racing.     Featured image: Edited by Fintech News Singapore, based on image by Trend2023 via Freepik The post Airwallex Builds Middle East Presence With UAE Approval, New Saudi Entity appeared first on Fintech Singapore.

Singapore has issued a directive under the Online Criminal Harms Act (OCHA), giving Meta until 30 September to curb Facebook impersonation scams targeting key government office holders. The directive was issued by the Ministry of Home Affairs through the Singapore Police Force’s OCHA Competent Authority. The implementation directive requires Meta to introduce enhanced facial recognition measures in Singapore and prioritise review of end-user reports from the country. Authorities said scammers have increasingly used Facebook between June 2024 and June 2025 to create fake advertisements, accounts, profiles and business pages using videos or images of key government office holders. The Singapore Police Force disrupted about 2,000 such attempts during this period but remains concerned about the platform’s role in these scams. Failure to comply without reasonable excuse could result in a fine of up to S$1 million after conviction, with an additional penalty of up to S$100,000 per day for continuing offences. The authorities said they will also work with Meta to support other influential public figures in Singapore through its global impersonation protection measures and are considering similar requirements for other online platforms. The OCHA allows the competent authority to require online service providers to put in place systems or measures to address serious online offences.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Singapore Issues First Online Harms Directive to Meta, Requires Anti-Scam Steps by 30 Sept appeared first on Fintech Singapore.

Stablecoins have crossed a historic threshold. In 2024, its total transfer volumes hit US$27.6 trillion, outpacing Visa and Mastercard combined. Once a niche crypto use case, stablecoins have swiftly matured into a core financial infrastructure in their own right, and nowhere is this shift more visible than in the stablecoin adoption in APAC. Research from the International Monetary Fund (IMF) backs this up. An IMF study showed that APAC and North America lead with the largest gross stablecoin flows. The study mapped roughly US$2 trillion in stablecoin flows across 2024. Additionally, regulators in Hong Kong, Singapore, the Philippines and South Korea have already laid out clear policy frameworks, while countries like Malaysia are actively building theirs. The direction of travel is obvious: stablecoins are on the path to becoming regulated, mainstream payment instruments. For banks, payment providers and businesses, the question now is this: what does this transformation mean for the way money moves and settles? To explore what comes next, Fintech News Network’s Chief Editor, Vincent Fong, sat down with four leaders in this space: Tianwei Liu, CEO and Co-Founder of StraitsX; Evy Theunis, Head of Digital Assets at DBS Institutional Banking Group; Amy Zhang, Head of APAC at Fireblocks; and Lin Xin, COO of dtcpay. What Are the Real Drivers of Stablecoin Adoption? “When we look at the catalysts driving the industry’s maturity, two stand out: growing regulatory clarity and the natural, organic liquidity – both primary and secondary – that the stablecoin market has developed,” shared Amy Zhang, Head of APAC at Fireblocks. According to Amy, two forces are behind the surge in adoption: clear regulations and the growth of organic liquidity. Rules give institutions the confidence to engage, but it’s liquidity that makes stablecoins usable in practice. For a payment service provider, this means factors like knowing where they can access stablecoins, how to bridge them back into the traditional banking system, and which markets they can reliably move funds across. Much of this liquidity was first built through digital asset trading. As trading platforms became more regulated and interconnected with traditional finance, they laid the groundwork for stablecoins to break free from their trading roots. Today, banks, payment service providers, and corporations are tapping into these pools to build real services on top. This shift is visible in Fireblocks‘ own numbers. Amy added, “Two years ago, looking at Fireblocks, about 70% of flows going through our platforms were crypto, and 30% were stablecoins. But just last month, we’re now having more digital assets in stablecoins being processed through the system than crypto. That’s a very exciting change.” Fireblocks, which works with more than 300 banks and payment service providers, now processes over US$200 billion in stablecoin payments every month. She continues, saying that when it comes to stablecoins, both banks and corporates are focusing on the issuance side of the house. She cites JD.com, which has announced plans to issue stablecoins in multiple jurisdictions, tailored to where its business needs are strongest. StraitsX Shares on Settlement Without Friction Tianwei Liu, CEO and Co-founder of StraitsX explained how regulatory clarity has been a game-changer for issuers as well as the CFOs and treasurers deciding whether to adopt stablecoins. The SEC’s recognition of fiat-backed coins as cash equivalents rather than securities shifted perceptions. This has been key in convincing larger financial institutions to adopt stablecoins as a form of settlement. StraitsX has seen this play out through its partnerships with Grab and Ant International over the past year. What used to take days of cross-border settlement through traditional banking rails or SWIFT, delayed by business hours, holidays, and FX fluctuations, now happens instantly. “A stablecoin transaction itself is a settlement,” Tianwei said. “I can take the token that you have just sent me immediately, use it for my payment. Use cases, immediately.” For him, this is the real breakthrough: stablecoins turning cross-border payments into something that feels local. And it’s not only the payment service providers that are excited. Increasingly, Southeast Asian SMEs are adopting stablecoins to settle cross-border trade with overseas partners, drawn by the speed, certainty, and possibly lower cost compared to traditional rails. How DBS Embraces Stablecoins and Tokenised Deposits When Vincent asked why DBS felt confident about embracing stablecoins and partnering with players like Ripple and Paxos, Evy Theunis, Head of Digital Assets at DBS Institutional Banking Group, pointed to the bank’s long track record in digital assets. Years of industry experience gave DBS clarity on where the technology was heading and which areas merited investment. “We definitely look at how we can maximise the potential of the technology and of the two worlds coming together.” She elaborated that it came down to two pillars that the bank has been building in parallel. The first is tokenised deposits. Through pilots like the DBS Treasury Token, as well as participation in the e-HKD and e-CNY trials, DBS has been exploring how rules and conditions can be coded directly into transactions, embedding programmability into payments. Its programmable payments pilot is one example of how deposits can be reimagined through smart contracts. The second pillar is stablecoins. Here, DBS has taken on the role of reserve bank for issuers such as Paxos and StraitsX. USDC is already listed on the bank’s exchange, signalling DBS’ intent to bring stablecoins into regulated, institutional channels. Why dtcpay Went All-In on Stablecoins “If payments can be programmable, it means that there can be a lot of innovations deeper into the vertical industry itself, instead of just a method of payment.” Lin Xin, COO of dtcpay, explained that dtcpay made a deliberate shift to focus solely on stablecoin payments, phasing out Bitcoin and Ethereum by the end of 2024. The decision followed more than a year of testing with merchants, where stablecoins consistently accounted for the vast majority of transactions. Unlike BTC or ETH, whose price volatility complicated refunds and day-to-day transactions, stablecoins offered predictability and ease of use. For merchants, this made stablecoins a practical payment method rather than a speculative asset. With stablecoins built on blockchain rails, payments can be embedded with rules and logic that enable entirely new use cases across industries, programmed far beyond simple settlement. For dtcpay, this is where the real innovation lies. Where Could We Go With Stablecoins Next? As the session drew to a close, Evy highlighted two near-term priorities for banks: programmability and yield. For Lin Xin, the immediate task is much simpler: fix the user experience. Tianwei urged the audience to see stablecoins as more than a payment tool. In his view, they are becoming a new back-end layer for finance, with regulated issuers providing the trust that allows corporates and treasuries to hold and move them as confidently as fiat. Amy closed on a pragmatic note: revenue, cost and risk. Payment service providers, she said, can already reduce costs and pre-funding burdens by adopting stablecoins, while banks can generate revenue by banking issuers and facilitating FX across different stablecoin currencies. The transaction fees may be small, but the strategic opportunities are anything but. Together, the panel made one resounding point: stablecoin adoption in APAC has outgrown its crypto roots. The next phase is about scaling it safely, seamlessly, and strategically across the financial system. Want to dive deeper into the full discussion on stablecoin developments? Watch the complete webinar on YouTube, where the panel unpacks more insights on the stablecoins landscape. Featured image: Edited by Fintech News Singapore, based on the image by muhammadbilal56311 on Freepik The post How Stablecoins Are Moving Trillions and Transforming The APAC Payments Landscape appeared first on Fintech Singapore.