KAST, the global financial platform built on stablecoin infrastructure, has expanded its Global Payouts feature, allowing users to convert and spend stablecoins internationally. The update adds 11 new currencies for local payouts, enabling users to earn globally and send locally in a single platform. According to Financial IT, the newly supported currencies include GBP (UK), EUR (SEPA), CAD (Canada), as well as IDR (Indonesia), VND (Vietnam), PHP (Philippines), THB (Thailand), MYR (Malaysia), NGN (Nigeria) and TRY (Turkey). This follows the initial launch of Global Payouts earlier as KAST develops a stablecoin-powered neobank designed for everyday financial needs. Global Payouts allows users, including immigrants sending money home, crypto earners, freelancers, and traders, to access digital earnings in stablecoins without relying on exchanges or complex off-ramps. The feature connects KAST accounts directly to multiple global payment networks, enabling stablecoin transfers to bank accounts in local currencies. The expansion aims to simplify cross-border earning and spending. For instance, someone working remotely in Indonesia can receive stablecoin payments to their KAST account and convert them to IDR for local expenses. Raagulan Pathy, Founder and CEO of KAST, said: Raagulan Pathy “The expansion of Global Payouts to even more countries and currencies reflects how quickly we are scaling stablecoin-powered global money movement. We are building financial products for people who are relentless in their pursuit of growth and we’re matching that energy with how quickly we are building.” To mark the expansion, KAST is waiving fees for SWIFT payouts over US$5,000 for a limited period, allowing users to test the international transfer function.       Featured image credit: Edited by Fintech News Singapore, based on image by masaideeabdulkoday70 via Freepik The post KAST Expands Global Payouts to 11 New Currencies appeared first on Fintech Singapore.

Temenos, a global banking software provider, has entered into a strategic partnership with Myanmar Citizens Bank (MCB) to support the bank’s digital transformation. MCB will strengthen its core banking operations and payment platform through the collaboration, enhancing operational stability and supporting long-term growth. As part of the partnership, MCB will implement Temenos’ modern banking platform to enable fast, secure, and real-time payment processing across domestic and international networks. The initiative is part of MCB’s broader efforts to modernise its banking infrastructure and expand digital services in response to evolving market demands. The renewal of the partnership demonstrates both organisations’ commitment to innovation and the advancement of financial inclusion within Myanmar’s banking sector. MCB’s CEO and management team attended the official signing ceremony. The collaboration aims to lay the groundwork for a future-ready banking system, providing customers with improved efficiency and access to digital financial services.     Featured image credit: Edited by Fintech News Singapore, based on image by Temenos via LinkedIn The post Temenos Partners with Myanmar Citizens Bank on Digital Upgrade appeared first on Fintech Singapore.

HashKey Capital has announced the first closing of its fourth fund, HashKey Fintech Multi-Strategy Fund IV (Fund IV), securing total commitments of US$250 million. The amount exceeds the firm’s initial expectations, with the final fund size targeted at US$500 million, subject to further closings. Fund IV is managed by HashKey Capital Investment, part of the wider HashKey Group. Its investor base includes institutional investors, family offices and high-net-worth individuals. HashKey Capital said the strong first close reflects continued institutional interest in blockchain-focused strategies despite ongoing market volatility. The firm noted that its first fund has achieved a distributed-to-paid-in (DPI) ratio of over 10x. The new fund will adopt a multi-strategy investment approach, combining public market strategies with liquidity-generating crossover opportunities. It will also make selective private market investments, with a focus on blockchain infrastructure, scalable platforms and applications aimed at mass adoption. According to the firm, this structure aims to capture inefficiencies across digital asset markets while maintaining flexibility across market cycles. Founded in 2018, HashKey Capital manages more than US$1 billion in assets and has invested in over 400 blockchain-related projects globally. The firm was an early institutional investor in Ethereum and operates from Singapore, with offices in Hong Kong and Japan. In Hong Kong, HashKey Capital holds upgraded licenses for Type 1 (Dealing in Securities), Type 4 (Advising on Securities) and Type 9 (Asset Management) regulated activities. It has also played a role in launching Hong Kong’s spot Bitcoin and Ether exchange-traded funds and organising the Hong Kong Web3 Festival. Deng Chao “With US$250 million in new capital, we are positioned to support blockchain applications emerging from developing markets, where real-world use cases are increasingly being tested,” said Deng Chao, CEO of HashKey Capital. Fund IV aims to provide investors with diversified exposure across the digital asset and blockchain ecosystem.       Featured image credit: Edited by Fintech News Singapore, based on image by wirestock via Freepik The post HashKey Capital Secures US$250M First Close for Fourth Crypto Fund appeared first on Fintech Singapore.

Fintech News Singapore would like to take this opportunity to wish all our readers a Merry Christmas and a very Happy New Year. We will be taking a break from the 23rd December to 2nd January 2026. Until then take a walk down memory lane with the most important stories in Singapore’s fintech scene this year. A Look Back at the Moves and Missteps Driving Singapore Fintech in 2025   Or take a deep dive into everything you need to know about Singapore’s fintech landscape through our Singapore Fintech Report 2025 Singapore Fintech Report 2025: Is Anyone Winning Singapore’s Digital Bank Race Yet? Top Fintech Master’s Degrees and Postgraduate Programs in ASEAN Trust Bank Is Putting Control Back Into Their Customers’ Hands         The post Year End Message to Our Readers – Offline From 23rd December to 2nd January appeared first on Fintech Singapore.

Standard Chartered has introduced a tokenised deposits solution for SGD and USD in Singapore, first adopted by Ant International. The bank said the launch follows the completion of a pilot involving Singapore dollar liquidity transfers for Ant International and enables real-time treasury movements through Ant International’s blockchain-based Whale platform. The solution allows tokenised representations of bank deposits to be used while remaining linked to accounts held with Standard Chartered. The initiative builds on work carried out under the Guardian initiative convened by the Monetary Authority of Singapore to improve liquidity and efficiency in financial markets through asset tokenisation. Standard Chartered said the deployment reflects lessons from the programme and marks a step towards the commercial use of tokenised deposits. Mahesh Kini “As corporates and institutions increasingly rely on ‘just in time’ liquidity, demand for real time and 24/7 treasury management is rapidly accelerating. Driven by a shared vision of shaping the future of cash management, we are pleased to collaborate with Ant international from the conceptualisation towards the commercial launch of this solution. This is part of our continued efforts to continuously innovate our solutions and offer our clients seamless and safe access to blockchain-based cash management and investment solutions.” said Mahesh Kini, Global Head of Cash Management at Standard Chartered. For Ant International, the solution supports near real-time intra-group deployment of liquidity across its entities and improves treasury and working capital management. The integration enables liquidity to move between Ant International’s bank accounts held with Standard Chartered and tokenised deposits on the Whale platform. Kelvin Li “We are delighted to continue partnering with Standard Chartered on blockchain innovations that serve the cross-border payment needs of businesses of all sizes. By combining Standard Chartered’s deep banking capabilities with Ant International’s expertise in tokenisation and global payments, the new solution enhances our liquidity management by providing seamless and secure access to the working capital needs of our businesses globally,” said Kelvin Li, General Manager of Platform Tech at Ant International. The solution supports transactions in SGD and USD in Singapore. In Hong Kong, it supports HKD, CNH and USD, allowing users to manage liquidity across markets using currencies they already operate with. Standard Chartered and Ant International are both participants in the Guardian initiative in Singapore.     Featured image: Edited by Fintech News Singapore, based on image by Standard Chartered The post StanChart Rolls Out Tokenised SGD and USD Deposits in Singapore appeared first on Fintech Singapore.

Bhutan has unveiled a national Bitcoin Development Pledge. It will allocate up to 10,000 bitcoin (BTC), valued at around US$860 million at current prices, to support the development of Gelephu Mindfulness City. The commitment frames bitcoin as a strategic national asset rather than a speculative holding. Authorities are exploring responsible approaches, such as collateralisation, treasury management strategies, or long-term holding, to fund development while preserving value, according to CoinDesk. Authorities expect to make final decisions on how the assets will be deployed in the coming months. Gelephu Mindfulness City operates as a special administrative region. It uses digital assets as part of its financial reserves. It also serves as a central pillar of Bhutan’s broader blockchain strategy to diversify the economy and attract investment. Bhutan was among the earliest sovereign bitcoin miners, having converted surplus hydropower into digital assets for several years. The government said it will continue using excess clean energy to mine bitcoin without increasing environmental impact. The pledge builds on a wider digital agenda. This includes a blockchain-based national digital identity, crypto-enabled payments for tourism and merchants, and the recent introduction of TER, a sovereign-backed gold token. Together, Bhutan positions these initiatives as a way to blend digital finance with governance, sustainability and social outcomes. The focus is particularly on younger generations.     Featured image credit: Edited by Fintech News Singapore, based on image by kutsallenger via Freepik The post Bhutan Pledges 10,000 Bitcoin for Gelephu Mindfulness City appeared first on Fintech Singapore.

Scam offenders in Singapore will face caning from 30 December 2025 as tougher criminal penalties take effect. The changes are part of the Criminal Law (Miscellaneous Amendments) Act 2025, passed by Parliament on 4 November 2025, which updates the Penal Code and related legislation. Under the amendments, offenders convicted of cheating under section 420 of the Penal Code, where the offence is committed mainly through remote communication, will face mandatory caning of at least six strokes, alongside imprisonment of up to 10 years and a possible fine. Courts may also impose discretionary caning of up to 24 strokes in serious non-scam cheating cases under the same provision. Mandatory caning will also apply to members and recruiters of organised criminal groups involved in scams where the offender knew the group’s purpose was to obtain benefits from scam offences. For recruiters who target vulnerable individuals or persons below 21 years of age, the maximum imprisonment term rises to seven years, in addition to mandatory caning and fines of up to S$350,000. The act further introduces discretionary caning of up to 12 strokes for individuals who enable scams. This covers offences involving the unlawful supply or use of SIM cards, the disclosure of Singpass credentials, and certain money-laundering offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. Caning may apply where the offender intended the enabler to be used for a scam, or where the offender had reasonable grounds to believe it would be used for criminal activity and failed to take reasonable steps to prevent misuse. The Ministry of Home Affairs said it will continue reviewing penalties for scam and scam-related crimes. Separately, amendments to the Children and Young Persons Act and the Criminal Procedure Code will also take effect on 30 December 2025. Building on changes passed in 2019, the Ministry of Social and Family Development will operationalise the Youth Court framework for offenders aged 16 to below 18 from that date. Serious or repeat cases, including those involving serious sexual offences, unlicensed moneylending and drug trafficking, may be transferred to the State Courts or High Court, where sentences such as imprisonment, reformative training or caning may be imposed. Cases that existing law already requires to be tried in the High Court will continue to be handled there. Other provisions in the act will come into force at a later date.     Featured image: Edited by Fintech News Singapore, based on image by user12948975 via Freepik The post Singapore to Introduce Mandatory Caning for Scammers from 30 Dec appeared first on Fintech Singapore.

For much of the past decade, the Asia Pacific was treated as crypto’s permissive frontier. A region where innovation could move faster than policy, where scale often came before supervision, and where enforcement lagged ambition. That era is ending. As the region heads into 2026, crypto is no longer being tested on its ability to grow. It is being tested on its ability to comply. What is emerging across the Asia Pacific is a coordinated tightening of standards that increasingly resemble those applied to systemically important financial institutions. In effect, the region is running a stress test on its crypto ecosystem, one that will expose which players are built for institutional participation and which were designed for regulatory arbitrage. TRM Labs’ Global Crypto Policy Review & Outlook 2025/26 captures the scale of this shift. Eighty per cent of reviewed jurisdictions, including APAC, now have financial institutions that have actively launched digital asset initiatives, a signal that regulatory clarity is no longer a constraint on adoption, but a prerequisite for it. Source: TRM Labs The impact is already visible. In Hong Kong, a safety-first regulatory framework has coincided with a 233% YoY increase in the total transaction amount of digital asset-related products and tokenised assets in banks, reaching HK$26.1 billion in the first half of 2025 alone. Rather than suppressing activity, tighter oversight has begun to channel it toward compliant venues and regulated use cases. Similar dynamics are unfolding elsewhere. Indonesia’s transfer of crypto oversight to its Financial Services Authority, alongside the region-wide enforcement of the FATF Travel Rule, marks a decisive shift in how digital assets are governed. Compliance is now an operating condition. This is where the real test begins. How these policy shifts unfold across the Asia Pacific, and which markets, models, and players are structurally prepared for the next phase of crypto regulation, will define the region’s digital asset landscape over the next 12 months. 2025 Was the Year Regulation Became APAC’s Cornerstone In 2025, at the risk of stating the obvious, crypto adoption across the Asia Pacific accelerated because of regulation. The significance of this shift was growth, coupled with the fact that participation became viable for institutions operating at scale. While global attention often gravitated toward US policy momentum, the APAC region quietly reinforced its position. Its regulators doubled down on clear, proportionate rules and frameworks that translated directly into institutional participation, product rollout, and economic use cases. Angela Ang, Head of Policy for Strategic Partnerships APAC at TRM Labs, elaborated, Angela Ang “APAC continues to define what forward-looking crypto regulation looks like — from tokenization to stablecoins to next-generation payments.” Hong Kong emerged as one of the clearest examples of this shift. The launch of its stablecoin licensing framework, alongside the steady expansion of permissible services for licensed virtual asset platforms, marked a decisive move toward institutional-grade crypto infrastructure. Singapore, meanwhile, leaned into its long-held regulatory philosophy of credibility over speed. It tightened AML controls, expanded licensing requirements for offshore-facing crypto entities, and advanced its MAS-regulated stablecoin framework. The immediate effect was a higher bar for entry. The longer-term effect was consolidation around fewer, better-governed players capable of supporting institutional use cases. Japan and South Korea advanced stablecoin licensing and institutional trading pilots, reducing ambiguity around how traditional financial institutions could engage with digital assets. Indonesia, meanwhile, completed a landmark transition by moving crypto oversight to its financial regulator, embedding digital assets more firmly within the securities framework. Source: TRM Labs Australia, Taiwan, and others pushed forward with licensing regimes, tax reforms, and custody rules that lowered uncertainty for banks and asset managers exploring digital assets. For institutional participants, this clarity was critical. It allowed risk, compliance, and treasury teams to evaluate crypto exposure within familiar regulatory boundaries. Stablecoins increasingly became the entry point for adoption, particularly for payments, settlements, and cross-border use cases. As frameworks matured, financial institutions reinforced a broader conclusion: validating the idea that regulation, when designed well, functions less as a constraint and more as an accelerator. Global Enforcement Bodies Raise the Compliance Bar While local regulators shape the rules on the ground, the Financial Action Task Force sets the global baseline that APAC markets must meet to stay relevant. Source: TRM Labs In late 2025, FATF expanded its list of jurisdictions with “materially important” crypto sectors from 58 to 67. Select APAC markets were included, sending a clear message: these ecosystems need operate with supervision. Crucially, 85% of these hubs have already implemented the Travel Rule. By 2026, sharing sender and recipient information will be a basic requirement for firms operating in the region. The focus is also shifting. In 2026, FATF attention moves from whether rules exist to whether they are being enforced properly. A dedicated review of stablecoin risks is expected in early 2026, which will put additional pressure on payment providers across Asia. For financial hubs like Hong Kong and Singapore, aligning local regulations with FATF standards is essential for maintaining access to global liquidity, correspondent relationships, and institutional capital. Firms that fall short risk exclusion from international markets. From Blueprint to Hard Launch The Asia-Pacific region is entering 2026 with a synchronised, high-stakes operational calendar that shifts the industry from policy debate to technical execution. The timeline below makes one thing clear: 2026 will be the year of the hard launch. Source: TRM Labs APAC crypto regulation in 2026 will change extensively. On 1 January 2026, Vietnam’s DTI Law officially takes effect, while the OECD’s Crypto-Asset Reporting Framework (CARF) begins its reporting period in over 50 jurisdictions, mandating automated tax transparency. Next, Hong Kong will be issuing its first stablecoin licenses early in the year, and by 30 June 2026, ASIC’s “no-action” relief for Australian digital asset businesses will expire, requiring firms to have secured an AFSL or notify of an intent to apply. Singapore has taken a more cautious approach, deferring the implementation of its bank crypto-asset capital rules to 2027. The decision follows industry feedback highlighting the need for additional time and greater global coordination. MAS has said it will continue monitoring international regulatory developments and advances in blockchain technology before finalising the implementation date. To conclude, in APAC, the regulatory phase shift is actively in the works. The next twelve months will decide who is structurally viable in an institutional financial system that has already moved on. Featured image edited by Fintech News Singapore based on image by thanyakij-12 on Freepik The post Why 2026 Will Be the Stress Test for Crypto Compliance in Asia Pacific appeared first on Fintech Singapore.

iProov, a provider of biometric identity verification solutions, announced that an attack scenario demonstrated by its in-house Red Team has been published by MITRE ATLAS, a global knowledge base for AI security, threat mitigation, robustness, and privacy. The case study confirms a high-risk vulnerability in remote identity verification processes, exposing users worldwide. iProov’s contribution includes a detailed procedure showing how face-swapped imagery injection attacks can bypass mobile Know Your Customer (KYC) systems. The study places iProov alongside contributions from organisations including Microsoft, NVIDIA, IBM, Intel, Cisco, Palo Alto Networks, Kaspersky, CrowdStrike, and Trend Micro, all working to inform the development of future AI defence frameworks. Doug Robbins “Contributions from across industry, academia, and government, ranging from red-team findings to operational threat insights, are essential to advancing the accuracy and completeness of the MITRE ATLAS knowledge base. When organisations openly share data and expertise, we collectively enhance the security and resilience of AI-enabled systems,” said Doug Robbins, Vice President, MITRE Labs. Andrew Newell, Chief Scientific Officer at iProov, added: Andrew Newell “We’ve seen an explosion in attack vectors relating to identity verification over the last 12 months, largely driven by advances in generative AI and the wide availability of low-cost tools. The publication of this latest MITRE ATLAS case study is part of the vital process of identifying and documenting such methodologies.” The Red Team demonstrated that AI-generated deepfakes and virtual camera applications can bypass active liveness detection. This system analyses image artefacts and user movement. By streaming deepfake video feeds during mobile KYC, the team successfully authenticated under a fictitious identity. This highlights risks to banking, financial services, and cryptocurrency applications. iProov’s research reinforces the need for continuous verification. It also underscores the importance of adherence to rigorous standards, such as the European CEN 18099, which sets robust testing protocols for liveness detection. The work aims to inform security analysts and AI developers across sectors. It encourages collaboration to strengthen AI security, threat mitigation, and privacy practices.     Featured image credit: Edited by Fintech News Singapore, based on image by sumitbiswas35244 via Freepik The post iProov Red Team Reveals Vulnerability in Mobile KYC Systems appeared first on Fintech Singapore.

For decades, the holy grail of financial technology was invisibility. The industry spent billions waging a war on friction, relentlessly shaving seconds off transaction times until payments became instant, seamless, and largely thoughtless. We succeeded. Today, money moves across borders and counters at the speed of a tap, often faster than we can second-guess the purchase. Nowhere is this acceleration more palpable than in Singapore, a market so saturated that the average consumer now juggles up to four credit cards. But this victory over friction has come with a hidden cost. As barriers to payment fell, vulnerabilities rose, creating an infrastructure that is efficient for legitimate users but increasingly lucrative for fraudsters. In this hyper-competitive landscape, the speed race is already won. The new contest is for safety and meaningful engagement. Hasan Khan, Head of Cards and Lending at Trust Bank, speaks with the urgency of someone who sees the industry at a turning point. Sure, payments have evolved more in the past five years than in the previous fifty. But Hasan shares that same acceleration has exposed consumers to the unprecedented risk of fraud, with nearly $4 billion lost by Singaporeans in the last five years. @fintechnewsnetwork Is faster always better? Real-time payments used to be cool. Now? They’re just table stakes. Here is the scary reality: Singaporeans lost $4 Billion to fraud recently. Hasan Khan (Trust Bank) argues that money moves fast, but fraud moves faster. The new battleground isn’t speed. It’s safety. We spent a decade removing friction. Now, smart banks are adding it back in to protect your wallet. @Trust Bank Singapore #fintech #digitalbanking #payments #singapore ♬ original sound – Fintech News Network – Fintech News Network For Khan, real-time payments are no longer a differentiator; they are “table stakes.” The next leap forward is making payments “smarter, more intuitive, and safer”. And to get there, he says the industry must do something counterintuitive: abandon its obsession with eliminating friction and instead introduce “strategic friction”. This intentional slowing down of specific high-risk processes acts as a crucial circuit breaker, shielding consumers from the emotional manipulation behind modern social engineering scams. Turning Risks into Rewards Khan speaks with a kind of infectious optimism when he talks about reimagining banking from a dry utility into something entertaining and even fun. He shares that traditional financial tools like charts, graphs, spending dashboards rarely resonate with the average consumer. To change that, Trust Bank looked to social media and gaming for inspiration. The result was “Budget Buddy,” a playful feature where a character grows and prospers as the user spends, turning routine transactions into a catchy visual narrative. @fintechnewsnetwork How Trust Bank Made Budgeting Fun (Finally) “The more you spend, the fatter they become.” Budgeting is boring.Trust Bank figured a more fun way to do it. @trustbank.sg fintech digitalbanking banking finance ♬ original sound – Fintech News Network – Fintech News Network But engagement goes beyond gamification. Khan highlights Trust Bank’s bold decision to eliminate Foreign Exchange (FX) fees entirely. By offering 0% FX fees, the bank turned a traditional revenue stream into a massive engagement tool, encouraging customers to use their cards globally without fear of hidden costs. There is a clear thread of empathy running through Khan’s thinking. He understands that people want to manage their money without feeling overwhelmed or bored. This extends to the bank’s hyper-personalisation strategy, where users choose their own cashback categories instead of being forced into rigid, pre-set rewards. “We’ve just launched this year, a cashback card where you can choose your own cashback category, so you’re customising it for yourself.” When Payments Disappear Into the Background Beyond the user interface, Khan points to a deeper structural shift toward embedded finance, where payment is no longer a separate “transaction” but an invisible part of a broader lifestyle ecosystem. Modern consumers, he says, expect to “shop, pay, and borrow” within a single, uninterrupted experience. Meeting that expectation requires banks to move past real-time settlement and into real-time decision-making. Khan illustrates this with a simple scenario: a customer buying a mobile phone. Instead of waiting days for a paper credit application to be approved, the bank can now assess creditworthiness instantly at the point of sale, allowing the user to convert the purchase into instalments on the spot. “We’ve recently launched, in partnership with Visa, instalments at purchase (Trust Visa Instalments). When people do large purchases (at participating merchants), they can use their Trust (credit) card right then and there and convert that into equal monthly instalments at 0%, solving a customer pain point.” By removing the traditional administrative lag, the bank ensures that financial support appears exactly at the moment a customer intends to buy, when it matters most. The Tech Stack That Makes Speed and Control Possible Behind these consumer-facing innovations is a rigorous technological foundation that Khan describes with the confidence of a tech-native executive. He attributes the bank’s agility to its cloud-native infrastructure on AWS and its modular partnership with Euronet through the Ren Payments Platform, delivering the “reliability at scale” required of a fully digital bank. The impact is tangible. Trust Bank can onboard a new customer, from application to digital card issuance, in three minutes. Hasan elaborates, Hasan Khan “In Singapore, we have the fastest, actually the world’s fastest onboarding journey. The customer starts the application after downloading the app. From the start of the application to the decisioning, then card issuing for the digital card to be provisioned in an Apple Pay or a Google Pay transaction,  it is in net 3 minutes. These are all the capabilities that we built in partnership with Euronet. Euronet helps us as a key strategic partner, not just as a vendor.” And this speed extends well beyond onboarding. The same architecture enables real-time control features, such as instantly locking a card or disabling overseas usage. This reinforces Khan’s view that technology should go beyond merely moving money faster to giving customers immediate, flexible control over their financial lives. The Race for Intelligence As Hasan reveals, the race for intelligence has just begun. Trust Bank’s strategy acknowledges a candid reality: in a market where the average Singaporean holds three to four credit cards, being “fast” is no longer enough to win share-of-wallet. The winning differentiator is now experience, specifically, the balance between “strategic friction” for safety and hyper-personalisation for engagement. Looking ahead to 2026, Khan points to agentic AI as the next frontier, moving beyond simple transaction monitoring to predictive models that can autonomously block anomalies before a scam occurs. By combining this high-tech security with gamified features like Budget Buddy, Trust Bank is positioning itself beyond a utility and closer as a lifestyle partner. In doing so, they are proving that while payments must be invisible, the feeling of safety and control should be unmistakable. Watch as Hasan Khan and Chief Editor Vincent Fong discuss how the bank is preparing for the era of Agentic AI. Catch the full episode, The Next Chapter in Payments: Safety, Experience & Speed, right here. The post Trust Bank Is Putting Control Back Into Their Customers’ Hands appeared first on Fintech Singapore.

Drukair, Royal Bhutan Airlines, has entered into a strategic partnership with Worldpay to adopt a global payment gateway for its online booking platforms. Under the arrangement, Drukair will use Worldpay’s acquiring network and transaction routing capabilities to process cross-border card payments more efficiently, with the aim of reducing declined transactions for international customers. The integration supports real-time payment processing and includes fraud prevention tools to strengthen transaction security. The airline said the setup allows passengers to use a wider range of international credit and debit cards when booking flights online, improving reliability for customers booking from outside Bhutan as Drukair expands its international presence. Tandi Wangchuk “As we continue expanding our international footprint, it’s vital that our digital systems keep pace. Our partnership with Worldpay ensures we can deliver a world-class payment experience that is secure, efficient, and user-friendly. It reflects our commitment to continuous innovation and operational excellence,” said Tandi Wangchuk, Chief Executive Officer of Drukair. Phil Pomford “Secure, streamlined payments are essential to Drukair’s mission of delivering outstanding travel experiences. By joining Worldpay’s network of leading airlines in Asia, Drukair can offer reliable and consumer-friendly payment options to travellers wherever they book. This partnership reinforces Worldpay’s leadership in airline and travel payments across APAC and globally, supporting our clients’ growth and innovation,” said Phil Pomford, General Manager, Global E-Commerce, of Worldpay. The Worldpay payment gateway is expected to be rolled out across Drukair’s online booking channels in the near term. Featured image: Edited by Fintech News Singapore, based on image by thongden_studio via Freepik The post Bhutan’s National Airline Drukair Taps Worldpay for Global Card Payments appeared first on Fintech Singapore.

Google Pay is pushing further into financial services in India with a new UPI-linked digital credit card. The updates span payments, credit and merchant services on a platform that now serves more than 530 million users and 23 million merchants in the country. The product, called Flex, is a UPI-powered, RuPay-based, co-branded digital credit card that allows users to apply for and receive a card digitally, manage repayments and earn rewards within the Google Pay app. Users can convert eligible purchases into three- or six-month EMIs and compare repayment plans before confirming. The card has launched first with Axis Bank as the Google Pay Flex Axis Bank Credit Card and is being rolled out in phases, with users required to join a waitlist. Google Pay said it plans to add more issuing bank partners. Google Pay has also introduced Pocket Money, a feature that gives children supervised access to digital payments. Built on the UPI Circle framework, it allows parents to set a monthly spending limit of up to Rs.15,000 or approve individual transactions. Parents receive instant notifications, can track all activity and can pause access at any time. For small businesses, Google Pay has added new tools aimed at improving visibility and customer engagement. Merchants can now receive customer ratings immediately after a transaction, with those reviews linked to their Google Maps listings. The company has also launched a GenAI-powered advertising feature within the Google Pay for Business app that instantly generates ad content, allowing merchants to preview and launch campaigns within minutes. On security, Google Pay said it prevented Rs.13,000 crore in attempted fraud over the past year and displayed more than 41 million warnings for suspected scams since October 2024. Recent updates include alerts for Android 11 and above that warn users if Google Pay is opened during screen-sharing calls with unknown contacts, offering a one-tap option to terminate the call. Google Pay has also expanded the use of an agentic AI chatbot to handle fraud reports, which it said has increased scam detection rates by 21 percent.     Featured image: Edited by Fintech News Singapore, based on image by EyeEm via Freepik The post Google Pay Rolls Out UPI-Linked Credit Card, Pocket Money Feature in India appeared first on Fintech Singapore.

Japan’s banks have long been admired for their discipline, risk awareness and ability to support the corporate sector through turbulent economic cycles. These strengths, built over decades of robust processes and prudent stewardship, remain a cornerstone of the industry. Today, however, the landscape is evolving rapidly. The systems that once served corporate lending so well are now being tested by the demands of a more complex, interconnected, and fast-moving global environment. This shift presents an exciting opportunity. The daily operational reality of corporate loan administration – long recognised for its sophistication – can now benefit from innovation. Japanese financial institutions manage some of the most intricate loan structures in the world, requiring high levels of coordination, precise record-keeping, and absolute accuracy. Traditionally, that has meant teams relying on manual processes, bespoke systems, and workflows shaped around legacy technology. Now, with modern tools and digital transformation, there is a chance to enhance efficiency, strengthen resilience, and unlock new levels of agility and connectivity. At the same time, the pace of change both in and beyond Japan’s borders is accelerating. Global markets are shifting: the cost of capital is rising, regulatory requirements tighten every year, and Japanese corporates are expanding across Asia faster than ever before. Loan portfolios have become more international, more structured, and far more data-driven. This evolution is stretching the capabilities of traditional lending platforms, creating a clear imperative for change. Modernising corporate lending is no longer a “nice to have”, it is a strategic imperative to stay competitive and capture growth in this dynamic environment.  A system built for yesterday’s volumes cannot support tomorrow’s ambitions Source: intanyusufwafa via Freepik Institutions increasingly recognise that long-standing, manual-heavy processes can no longer keep pace with today’s operational complexity, let alone tomorrow’s growth. A clear example comes from the Japan International Cooperation Agency (JICA), an organisation managing a sizable and globally distributed loan portfolio. Like many lenders, JICA had reached a point where traditional tools and manual workflows were no longer sufficient to support the scale and pace of its activities. What JICA experienced reflects a broader pattern across Japanese financial institutions. As demand grows, the number of manual touchpoints grows with it. Administrative processes become heavier. The risk of delays increases. Teams are stretched. And when errors occur, even small ones, the effort required to correct them can be significant. JICA’s decision to adopt a unified platform built on Loan IQ underscores how quickly operational demands are evolving. By consolidating processes onto a single, industry-standard system, the organisation has strengthened accuracy, improved visibility and brought greater consistency to the way its portfolio is managed. Digital modernisation is not simply about automation. It is about creating a stable foundation where lending operations can scale without adding risk. It allows banks to concentrate expertise where it matters most, while technology handles the repetitive, routine and data-intensive tasks that slow teams down. The result: greater efficiency, stronger governance, and the agility to thrive in a rapidly changing market. The future of lending is end-to-end digital Source: Saim Art via Freepik For many banks, one of the biggest catalysts for change is the need for greater standardisation. Japanese institutions with growing overseas franchises are managing syndicated loans, bilateral deals and structured transactions across multiple markets.  A modern lending platform solves these challenges by bringing core processes into one integrated environment. This is particularly valuable for banks with global or multi-entity operations. When everyone works from a common system — with shared definitions, automated calculations and centrally-governed workflows — the institution gains a clearer, more reliable view of its loan book. That clarity is essential for strategic planning, stress testing, regulatory engagement and long-term risk management. From isolated systems to a connected ecosystem Source: Freepik The transformation underway in Japan mirrors a broader global trend: banks are increasingly looking at lending as part of a connected ecosystem, rather than a standalone function. Modern platforms enable seamless integration with upstream and downstream systems: origination tools, collateral platforms, document management, payment engines and even external fintech services. This connectivity reduces friction across the lending cycle, from initial documentation to ongoing servicing. Interoperability is increasingly becoming a priority for Japanese banks. Whether integrating data from headquarters, coordinating with global partners or aligning with new industry utilities, the ability to “speak the same language” across systems is becoming indispensable. Modernisation is not just about upgrading software, it is about positioning the bank within a broader network of financial infrastructure that is evolving quickly. Future-proofing Japan’s lending market Source: tawatchai07 via Freepik Japan’s lending market is entering a period of significant transition. Corporate demand remains strong, but expectations around transparency, speed and reporting are rising. Regulators are encouraging institutions to adopt more resilient digital foundations. Global partners expect consistency and reliability in cross-border syndications. And within banks, younger talent expects tools that allow them to work efficiently, not manually re-key information across multiple systems. Modernising the lending function is one of the clearest ways institutions can prepare for these shifts. It strengthens risk controls, supports growth, improves client experience and reduces the burden on operations teams. Most importantly, it allows banks to bring their deep credit expertise into a digital era where accuracy, efficiency and scale must go hand-in-hand. Japan has always been a leader in disciplined, long-term banking. With the right technology foundation, it can continue that leadership, this time in a financial landscape that demands both tradition and transformation.     Featured image: Edited by Fintech News Singapore, based on image by pranavkr via Freepik The post Japan’s Corporate Lending System at a Turning Point as Pressure to Modernise Grows appeared first on Fintech Singapore.

Akamai Technologies and Visa have partnered to address security and trust challenges as artificial intelligence agents become more active in online shopping. The collaboration integrates Visa’s Trusted Agent Protocol across Akamai Cloud, combining agent authentication with Akamai’s edge-based behavioural intelligence, user recognition, and bot and abuse protection. The aim is to help merchants verify AI shopping agents and reduce fraud risks by identifying trusted activity at the network edge before it reaches merchant systems. As agent-driven traffic grows, merchants face challenges distinguishing legitimate AI agents from malicious bots while maintaining secure transactions, personalisation, and customer relationships. Patrick Sullivan “By combining Visa Trusted Agent Protocol with Akamai’s deep user recognition and threat intelligence, we’re working to solve the dual-identity challenge that’s crucial to AI commerce. We prove both who the agent is and, critically, who it represents. This is what transforms AI agents from novelties into trusted economic actors.” said Patrick Sullivan, Chief Technology Officer, Security Strategy, Akamai Technologies. By validating both the AI agent and the consumer it represents, the approach is intended to give merchants real-time visibility into agent activity before it reaches sensitive systems. Akamai said its 2025 Digital Fraud and Abuse Report showed AI-powered bot traffic surged 300 percent over the past year, with the commerce sector recording more than 25 billion AI bot requests over a two-month period. As agent-generated traffic accelerates, the need for verifiable identity and authentication has become more critical. Jack Forestell “By collaborating with Akamai to deploy Trusted Agent Protocol, we’re delivering the real-time intelligence merchants need to support AI-driven experiences without introducing new risk. This is how we help the industry move confidently into the next era of commerce.” said Jack Forestell, Visa Chief Product & Strategy Officer. “ Visa’s Trusted Agent Protocol is designed to ensure AI agents using Visa credentials are authorised for specific shopping tasks and can securely pass payment information, including network tokens and micropayments, through existing merchant checkout flows. Built on standard web infrastructure, the protocol is designed to scale with minimal changes for merchants and is intended for use across Visa’s network of 175 million accepting locations worldwide. Akamai said the deployment across its cloud platform, which supports nine of the world’s top 10 global retailers, is expected to help merchants support agentic commerce while managing security and fraud risks.   The post Akamai and Visa to Strengthen Security as AI Shopping Agents Scale appeared first on Fintech Singapore.

Crypto.com has enabled SGD and USD deposits and withdrawals for Singapore users through a new partnership with DBS Bank. The addition introduces new banking rails that allow transfers in both currencies through DBS, complementing the platform’s existing banking partnership with Standard Chartered Bank. Together, the arrangements expand Crypto.com’s local fiat infrastructure and provide users with multiple deposit and withdrawal options in Singapore. Under the partnership, DBS will support the creation of client money accounts, enabling faster and simpler transfers of SGD and USD between users’ bank accounts and the Crypto.com app. Singapore is Crypto.com’s headquarters and a key market for its regional operations. Karl Mohan “Introducing new deposit and withdrawal capabilities in Singapore underscores our commitment to offering secure and regulated fiat payment solutions. This will enhance the Crypto.com App experience for Singapore customers, makes it easier for them to interact with our products and services and is another important step in accelerating crypto adoption across the region.” said Karl Mohan, EVP, Financial Services, General Manager International of Crypto.com. Chin Tah Ang “Singapore is our headquarters and a critical hub for our growth strategy. Working with the country’s largest bank, DBS, allows us to expand our provision of seamless SGD and USD transfers for our users. Deposits and withdrawals are already supported today, but we are proud to add greater accessibility and functionality to our retail services, in line with MAS regulations.” said Chin Tah Ang, General Manager Singapore of Crypto.com.     Featured image: Edited by Fintech News Singapore, based on image by smth.design via Freepik The post Crypto.com Adds DBS as Banking Partner for SGD and USD Transfers appeared first on Fintech Singapore.

Provenir has launched a new educational initiative aimed at helping banks and financial institutions improve their understanding, adoption and use of artificial intelligence (AI). The initiative includes an AI maturity assessment that allows organisations to evaluate their capabilities across areas such as strategy and governance, data readiness, analytics and the application of AI across the customer lifecycle. Based on the results, users are directed to learning resources aligned with their stage of AI adoption. These resources range from introductory material on data science in financial services to guidance on scaling AI-driven decisioning. Provenir has also introduced a complimentary Data Science 101 for Financial Services certification as part of the programme. The certification consists of four modules, with quizzes and a final exam. Participants who complete the course receive a digital badge that can be shared on professional platforms such as LinkedIn. Mike Holmes “AI empowerment is a chief imperative for banks and financial institutions; there is a tremendous need for AI upskilling, knowledge, and competency in the workplace. Provenir is proud to be taking a leadership position in helping provide resources to further the industry’s understanding and adoption of quintessential AI knowledge and skills with a range of easy-to-access content and online tools, including our new Data Science 101 for Financial Services certification,” said Mike Holmes, Provenir’s Head of Data Science. Provenir provides AI-based risk decisioning software used by financial institutions to support credit, fraud and customer lifecycle decisions.     Featured image: Edited by Fintech News Singapore, based on image by MH Stock via Freepik The post Provenir Rolls Out AI Maturity Tool and Data Science Certification appeared first on Fintech Singapore.

Red Hat has announced the acquisition of Chatterbox Labs to integrate critical safety testing and guardrail capabilities into its AI portfolio. The deal, revealed on 16 December 2025, aims to strengthen Red Hat’s open source enterprise platform by adding a dedicated security for AI layer. As organisations move AI workloads from experimentation to production, the need for demonstrable and trustworthy models has increased. Chatterbox Labs, founded in 2011, specialises in model-agnostic AI safety and quantitative risk assessment. Their technology provides automated testing to validate data and models, offering risk metrics for Large Language Models (LLMs) and predictive AI architectures. Steven Huels, Vice President of AI Engineering and Product Strategy at Red Hat, described the technology as essential for the industry. Steven Huels “Chatterbox Labs’s innovative, model-agnostic safety testing and guardrail technology is the critical ‘security for AI’ layer that the industry needs,” Huels stated. He added that the integration supports Red Hat’s goal of enabling responsible, production-grade AI at scale. The acquisition also aligns with Red Hat’s roadmap for agentic AI and the Model Context Protocol (MCP). Chatterbox Labs has conducted investigative work into securing autonomous agents, such as monitoring agent responses and detecting action triggers. Stuart Battersby, Co-Founder of Chatterbox Labs, highlighted the importance of transparency. Stuart Battersby “It is critical that AI guardrails are not merely deployed; they must be rigorously tested and supported by demonstrable metrics,” he said. “By joining Red Hat, we can bring these validated, independent safety metrics to the open source community”. Featured image: Edited by Fintech News Singapore based on an image by user28295394 via Freepik. The post Red Hat Acquires Chatterbox Labs to Boost AI Security and Trust appeared first on Fintech Singapore.

Efforts to modernise cross-border payments have accelerated over the past decade, yet retail transactions remain slower, more expensive, and less transparent than domestic instant payments. While many jurisdictions have rolled out real-time payment systems, sending money across borders continues to rely on fragmented foreign exchange processes, prefunding arrangements, and sequential settlement mechanisms that introduce cost and risk. Project Rialto, a collaborative experiment led by the BIS Innovation Hub together with the Bank of France, the Bank of Italy, Bank Negara Malaysia, and the Monetary Authority of Singapore, explores how these frictions could be addressed without dismantling existing payment infrastructures. The project focuses on retail use cases such as remittances and person-to-person payments, which are particularly relevant for emerging and developing economies across Asia. Rather than proposing a new retail digital currency or replacing domestic payment rails, Project Rialto examines how instant payment systems can be connected to an automated foreign exchange and settlement layer using tokenised central bank money. Why Cross-Border Retail Payments Still Lag Behind Retail cross-border payments account for hundreds of billions of dollars annually, yet they remain structurally inefficient. Foreign exchange conversion and settlement are the two most persistent sources of friction. Transactions involving less liquid currency corridors often face wide spreads, limited transparency, and extended settlement times. These challenges are especially pronounced in remittance-heavy regions such as Southeast Asia. Despite progress under the G20 cross-border payments roadmap, most improvements have focused on messaging standards and correspondent banking efficiency. Instant payment systems have transformed domestic payments, but their benefits stop at national borders. Project Rialto addresses this gap by asking whether instant cross-border payments can be achieved while maintaining the safety and finality associated with central bank money. Positioning Project Rialto in the BIS Innovation Agenda Project Rialto draws on a sequence of earlier initiatives led by the BIS Innovation Hub. One of these, Project Nexus, demonstrated how domestic instant payment systems could be connected through a shared hub model to support cross-border retail payments. Another strand came from Project Mariana, which examined the use of tokenised central bank money and automated market makers to enable wholesale foreign exchange settlement on distributed ledger technology. Rialto brings these two lines of experimentation together. Domestic instant payment systems continue to handle customer-facing transactions, while a cross-border distributed ledger network is introduced to support foreign exchange conversion and settlement between intermediaries. The model positions the distributed ledger component underneath current payment rails, enabling service providers to participate without maintaining digital wallets or touching the infrastructure directly. For central banks across the Asia-Pacific region, including Bank Negara Malaysia, this design holds particular relevance. It reduces the need for direct operational involvement while enabling settlement in a safe and trusted asset aligned with central bank principles. A Two-Layer Architecture Designed for Incremental Adoption At a structural level, the Rialto model is organised around two tightly integrated functional layers. One layer is anchored in domestic or regional instant payment systems, supported by an interlinking mechanism. Payments are initiated, cleared, and settled in fiat money within each jurisdiction, relying on existing infrastructures and governance frameworks. As a result, customer experience, regulatory oversight, and compliance arrangements remain largely unchanged from today’s domestic payment environment. An overview of how Project Rialto separates domestic instant payment systems from a cross-border distributed ledger used for foreign exchange and settlement. Taken from page 10. Alongside this sits a second layer built on a cross-border distributed ledger network. Within this environment, intermediaries exchange tokenised representations of central bank money to complete foreign exchange conversion and settlement. Foreign exchange and settlement activities are therefore isolated from retail payment processing. This separation allows new functionality to be introduced without requiring payment service providers to redesign their core systems. Taken together, the two-layer structure reflects a pragmatic approach to payment system innovation. Progress in cross-border payments, as the project illustrates, is more likely to come from interoperability across systems than from wholesale replacement. A mapping of the key participants in a Rialto transaction and how payment processing, compliance, and settlement responsibilities are distributed. Taken from page 14. How a Rialto Transaction Works in Practice A cross-border transaction under the Rialto model begins with a request for a foreign exchange quote. The sender provides the payment details, including the destination country, currency, and transaction amount, with the option to specify either the amount to be sent or the amount to be received. Using this information, the instant payment system interlink requests a binding exchange rate from a foreign exchange provider. Pricing is derived from an automated market maker that draws on liquidity pools backed by tokenised representations of central bank money. Fees and exchange rates are disclosed upfront, giving the sender clarity before committing to the transaction. Once the sender confirms, funds are earmarked within the source instant payment system. Both the source and destination intermediaries then validate the transaction, including compliance checks, before any settlement takes place. Only after all conditions are satisfied does settlement proceed on the distributed ledger. Tokenised central bank money is transferred from the source settlement access provider to the foreign exchange provider and onward to the destination settlement access provider. The transaction settles on a payment-versus-payment basis, ensuring that neither leg can complete without the other. Following confirmation of settlement, the destination instant payment system credits the receiver. The source payment service provider subsequently finalises the debit to the sender, completing the transaction. Automated FX with Accountability Built In Automated market makers play a central role in Rialto’s foreign exchange design. Continuous liquidity provision allows AMMs to execute currency exchanges algorithmically instead of using a standard order book. At the same time, retail payments require certainty around pricing. Exchange rates must be locked in at the point of confirmation, and consumers cannot be exposed to execution risk. To address this constraint, the Rialto model assigns regulated foreign exchange providers a clearly defined role. Rather than being displaced, FX providers are responsible for issuing binding quotes to the instant payment system interlink. Any slippage that occurs during execution is absorbed by the provider, which earns a spread or fee in return for managing that risk. Through this structure, automation is introduced without removing human accountability or regulatory oversight from the foreign exchange process. Extending Coverage Through Vehicle Currencies Currency liquidity varies significantly across regions and corridors. In many cases, direct foreign exchange between two currencies may be limited, expensive, or unavailable at scale. A demonstration of how low-liquidity currency pairs are supported using a vehicle currency within a single atomic transaction. Taken from page 19. Rialto addresses this challenge by supporting vehicle currencies within a single atomic transaction. Instead of executing a direct conversion, the system routes the exchange through a more liquid intermediary currency using two automated market makers. Both legs of the conversion are settled together on a payment-versus-payment basis. This design preserves settlement finality while expanding the range of corridors that can be supported efficiently. For economies across Southeast Asia, where remittance flows often involve less liquid currency pairs, this capability has particular relevance. Resilience and Failure Handling by Design Robust payment systems are defined as much by how they handle failures as by how they process successful transactions. Project Rialto explicitly tests scenarios involving compliance rejections, participant outages, and technical disruptions. If a transaction fails compliance checks at the destination, settlement does not occur and earmarked funds at the source are released. In cases where a disruption arises after on-chain settlement but before final crediting, predefined procedures may require a new atomic transaction in the opposite direction to mitigate financial loss. Two design elements underpin this resilience. Funds are earmarked before settlement, and settlement itself follows a two-phase process that requires confirmation from both source and destination intermediaries. Structuring transactions in this manner allows the system to lower reconciliation risks and isolate partial failures before they impact the wider ecosystem. Economic Considerations for PSPs and Banks Beyond technical feasibility, Project Rialto examines the economic implications of its proposed model. Retail remittance costs remain above international targets in many corridors, with fees and foreign exchange margins accounting for a significant share of total transaction costs. Automated foreign exchange mechanisms have the potential to improve pricing transparency and execution efficiency. However, these benefits come with trade-offs. Automated market makers require liquidity to be locked into pools, which can affect balance sheet efficiency for participating institutions. At the same time, settlement in tokenised representations of central bank money reduces credit exposure between intermediaries. This may lower the need for prefunded nostro balances, particularly in corridors where settlement risk is currently managed through conservative liquidity buffers. Profitability for payment service providers depends on how fees are distributed across the transaction chain. In the Rialto model, PSPs, settlement access providers, and foreign exchange providers each charge for distinct services. The interaction between these fees and automated pricing dynamics will play a decisive role in determining commercial viability. An illustration of balance movements between intermediaries, highlighting reduced credit exposure through settlement in tokenised central bank money. Taken from page 19. What Project Rialto Ultimately Demonstrates Project Rialto is positioned as a proof of concept rather than a deployment blueprint. It does not attempt to define an end-state architecture or mandate implementation timelines. Instead, its contribution lies in showing that instant cross-border retail payments can be combined with automated foreign exchange and settlement in central bank money. Crucially, this can be achieved while continuing to rely on existing payment infrastructures. The experiment points to a path forward that favours integration over replacement. It suggests that meaningful improvements do not require tearing down systems that already function at scale. For Asia-Pacific economies, cross-border retail flows are economically significant and operationally complex. Within this context, the approach explored by Rialto offers a realistic and incremental route to progress. As policymakers and market participants push for faster, cheaper, and more transparent cross-border payments, the project’s lessons become increasingly relevant. Progress, the experiment suggests, is most likely when innovation is layered carefully onto systems that are already trusted and widely used. Rather than prescribing a finished solution, Project Rialto presents a working model that others can build on. Its longer-term value lies in showing how cross-border payments can evolve step by step, grounded in existing infrastructure while moving toward deeper regional integration. Featured image: Edited by Fintech News Singapore based on an image by pikisuperstar via Freepik and Project Rialto. The post Project Rialto and the Next Phase of Instant Cross-Border Payments in APAC appeared first on Fintech Singapore.

Japan’s Mizuho Securities will acquire a controlling stake in India’s Avendus for up to US$523 million (81 billion yen), according to a Reuters report. The transaction comes as Japanese financial groups continue to expand in India’s growing financial services market. KKR, which first invested in Avendus in 2016, will sell part of its stake as part of the deal. Mizuho will buy between 61.6 percent and 78.3 percent of Avendus from the U.S. private equity firm, making the company a consolidated subsidiary of Mizuho Financial Group, Japan’s third-largest banking group. The acquisition reflects rising demand from Mizuho’s corporate clients to expand into India, where economic growth remains stronger than in Japan’s ageing domestic market. The deal is expected to strengthen Mizuho’s investment banking capabilities and improve coordination across its global advisory platform. Mizuho has been building out its cross-border advisory business, including through its 2023 acquisition of U.S. investment bank Greenhill. The Avendus transaction addresses a gap in its India investment banking coverage, Reuters reported. Avendus operates across investment banking, wealth management, asset management and credit solutions. The firm plans to expand hiring and increase its focus on sectors including industrials, healthcare, infrastructure and energy.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Mizuho to Buy Majority Stake in India’s Avendus for US$523 Million appeared first on Fintech Singapore.

Amazon is in preliminary talks to invest at least US$10 billion in OpenAI and provide its Trainium chips, people familiar with the discussions told Bloomberg. The talks remain at an early stage and could value the ChatGPT developer at more than US$500 billion. As part of the discussions, OpenAI would consider using Amazon’s in-house Trainium processors, which are designed to train large artificial intelligence models. The structure and timing of any deal could still change. A transaction would support Amazon’s push into AI hardware, a market dominated by Nvidia. Nvidia’s graphics processors remain the industry standard, but large technology companies are increasingly testing alternative chips as demand for computing power grows. Trainium is central to Amazon’s strategy to differentiate its AI offering within its cloud business. The company has promoted the processors as a more cost-efficient option for training AI models. Broader adoption would also strengthen Amazon’s semiconductor unit. Amazon Web Services (AWS) is facing rising competition for AI workloads from rivals including Microsoft, a major OpenAI backer. The talks began around October after OpenAI completed a corporate restructuring, Bloomberg previously reported. As part of that process, Microsoft secured an estimated 27 percent economic stake following negotiations that lasted nearly a year. OpenAI was most recently valued at about US$500 billion in an employee share sale, briefly overtaking SpaceX as the world’s most valuable startup. The rise reflects strong investor interest in generative AI, even as some analysts warn investment levels may be running ahead of sustainable demand. Amazon and OpenAI already have a significant commercial relationship. In November, the companies said AWS would provide up to US$38 billion in cloud computing capacity over seven years. Early deployments are focused on Nvidia-based infrastructure rather than Amazon’s own chips.     Featured image: Edited by Fintech News Singapore, based on image by rawpixel.com via Freepik The post Amazon Weighs US$10 Billion Investment in OpenAI appeared first on Fintech Singapore.