Paysend Leverages Currencycloud Partnership for Worldwide Expansion
Fintech Singapore
by Fintech News Singapore
16h ago
London-based fintech Paysend has expanded its partnership with Currencycloud, a provider of B2B embedded cross-border solutions, to extend its international money transfer services worldwide. The collaboration between Paysend, that specialises in international fund transfers, and Currencycloud, which facilitates business in a multicurrency environment, will enhance the former’s foreign exchange and treasury operations. This partnership will position Paysend as a primary facilitator of cross-border monetary transactions in various regions, including the US, EMEA, and Asia-Pacific. As a part of ..read more
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Angela Toy Assumes COO Position at Golden Gate Ventures
Fintech Singapore
by Fintech News Singapore
16h ago
Southeast Asian venture capital firm Golden Gate Ventures announced the promotion of Angela Toy to Chief Operating Officer (COO), according to TechNode Global. Angela Toy, previously a Partner focused on Portfolio Growth at Golden Gate Ventures, steps into the newly created role with a decade of exceptional service and strategic foresight at the company. Since joining as the second employee in 2011, Toy has been instrumental in the firm’s development, culminating in her promotion to partner in mid-2021. Her appointment as COO marks a continuation of her leadership journey, now with a broader m ..read more
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LinkAja Secures Investment from Mitsui
Fintech Singapore
by Fintech News Indonesia
16h ago
Indonesian e-wallet LinkAja has secured a strategic investment from Japanese trading house Mitsui & Co., Ltd. The financial details were not disclosed. This marks the first time a global company has invested in LinkAja, aiming to enhance the platform’s ecosystem and business strategy, especially in collaboration with its State-Owned Enterprises (SoE) shareholders. The investment signifies the investor’s intention to expand its digital finance business and foster strategic collaborations within the ecosystems of LinkAja and Mitsui. These collaborations are primarily in sectors such as Infor ..read more
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Visa Set to Roll out New AI-Powered Fraud Prevention Solutions
Fintech Singapore
by Fintech News Singapore
16h ago
Visa announced the expansion of its value-added services by introducing three new AI-powered solutions aimed at bolstering fraud and risk prevention. These additions are part of Visa’s comprehensive Protect suite, targeting immediate account-to-account transactions, card-not-present (CNP) payments, and activities beyond its network. The Protect suite is among nearly 200 products under Visa’s portfolio, covering critical areas such as Acceptance, Advisory, Issuing, Open Banking, and Risk and Identity. Leveraging its extensive experience and a US$10 billion investment in technology and innovatio ..read more
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Singapore Continues Suspension to Safeguard Remittances to China
Fintech Singapore
by Fintech News Singapore
19h ago
The Monetary Authority of Singapore (MAS) has announced an extension to the ongoing suspension affecting remittances to China. This suspension, now extended until 30 September 2024, pertains to the use of non-approved channels by remittance companies for transferring funds to the People’s Republic of China (PRC). The initial decision to halt these specific transactions came after instances where remittance sent to China were being unexpectedly frozen in the recipient’s bank accounts, primarily impacting Chinese nationals working in Singapore. Since the original suspension on 1 January 2024, th ..read more
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ZaloPay and CIMB Bank Roll out Fixed Deposit Offering to Simplify Savings
Fintech Singapore
by Fintech News Vietnam
19h ago
Vietnamese e-wallet ZaloPay and CIMB Bank, a highly regarded bank in Southeast Asia, recognising the challenges posed by the global economic downturn, have partnered to offer a new fixed deposit product in Vietnam amidst significant labour market issues. The unemployment rate for young adults aged 15-24 is at a high of 7.62%, compared to the overall average of 2.28%, and labourers’ wages have stagnated at around VND 7.1 million (approximately US$ 280). Financial advisors commonly suggest prioritising savings, reducing unnecessary expenditures, and wisely investing to navigate these uncertain t ..read more
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HSBC Earmarks US$150M for Venture Debt to Fuel Singapore’s Business Expansion
Fintech Singapore
by Fintech News Singapore
2d ago
HSBC has earmarked US$150 million for its venture debt offering that is aimed at scaling high-growth companies in Singapore. Through this initiative, high-growth, venture capital or private equity-backed companies in Singapore will have access to flexible funding arrangements to fuel their expansion efforts. This newly launched Venture Debt programme by HSBC is set to offer a more adaptable and long-term financing solution for a variety of funding needs, including capital expenditure, extending operational runway, and supplementing working capital for durations up to three years. This venture ..read more
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Qoala Raises US$47M for AI-Powered Transformation and Regional Expansion
Fintech Singapore
by Fintech News Indonesia
2d ago
Indonesian insurtech startup Qoala has closed its Series C funding round led by PayPal Ventures and MassMutual Ventures to raise US$47 million. This brings Qoala’s total raised capital to over US$130 million. The round was also joined by MUFG Innovation Partners, Ohana Holdings, and returning investors Flourish Ventures, Eurazeo, and AppWorks. The influx of capital will support Qoala’s plan to widen its embedded insurance business (B2B2C) across Southeast Asia. The company aims to enhance its technological capabilities, incorporating artificial intelligence to improve customer, agent, and part ..read more
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Sumsub and Binance to Streamline Travel Rule Compliance in Crypto Transactions
Fintech Singapore
by Navina Vivekanandan
2d ago
Sumsub, a global verification and compliance provider, announced its partnership with crypto exchange Binance to integrate its Travel Rule solution through the Global Travel Rule (GTR) Alliance. This collaboration aims to facilitate secure cryptocurrency transactions by connecting Binance’s extensive user base of over 183 million with Sumsub’s network of Virtual Asset Service Providers (VASPs), financial institutions, and fintech companies. The Travel Rule requires VASPs to share the personal information of a transaction’s sender and recipient with other financial businesses or VASPs. The init ..read more
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13 Fintech Giants Back Programme Sirius to Promote MSME Sustainability in APAC
Fintech Singapore
by Fintech News Singapore
2d ago
Programme Sirius has been launched to support Micro, Small, and Medium-Sized Enterprises (MSMEs) in the Asia-Pacific region on their path towards sustainability. With the backing of 13 fintech industry leaders from 11 economies, the programme aims to bolster MSMEs’ efforts in aligning with the United Nations Sustainable Development Goals by enhancing their sustainability practices through digital platforms. These partners include: AlipayHK (Hong Kong SAR, China), ANEXT Bank (Singapore), BigPay (Malaysia), bKash (Bangladesh), DANA (Indonesia), GCash (the Philippines), Hipay (Mongolia), Kakao Pa ..read more
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