Matrixport has rebranded as BIT, reflecting the firm’s continued development in digital asset financial infrastructure and services. Alongside the rebrand, BIT published its BIT 2026 Trust Whitepaper, outlining the governance, risk management and operational frameworks supporting its services. The paper provides a structured overview of the firm’s governance, compliance and operational foundations. John Ge CEO John Ge said, “Digital asset markets are entering a phase in which governance, transparency and operational discipline are increasingly important. BIT reflects the continued evolution of our business and our commitment to building trusted digital asset financial infrastructure.” The firm said the rebrand will not affect existing client accounts, products or services, while its legal entities and contractual arrangements will remain unchanged. BIT is also exploring potential capital markets opportunities in the United States, including a possible public listing. Founded in 2019, the company, previously known as Matrixport, offers services including custody, trading, asset and wealth management, liquidity and financing solutions, as well as tokenised real-world assets. Its entities maintain a licensed and regulated presence across Singapore, Hong Kong, Switzerland, the United Kingdom, the United States and Bhutan. This includes a Major Payment Institution licence in Singapore and a FINMA-licensed Manager of Collective Assets in Switzerland.     Featured image: Edited by Fintech News Singapore, based on image by HobieArt via Freepik The post Matrixport Rebrands as BIT as It Explores Possible U.S. Public Listing appeared first on Fintech Singapore.

GrabInsure, the insurance arm of Grab, has rolled out a motor insurance product for private-hire drivers in Singapore. The product is available to Grab driver-partners who use their own vehicles and is aimed at making coverage more affordable and easier to access. The policy was designed for private-hire drivers and includes instalment payment options, 24/7 emergency assistance and personalised pricing. The company described it as a first-of-its-kind product that uses historical platform insights to tailor premiums. According to GrabInsure, drivers can pay premiums through the Grab Driver App Wallet without needing a credit card. Premiums can be broken into smaller payments, which could help turn insurance into a more manageable operating cost rather than a large upfront expense. Iwan Juwono Iwan Juwono, Head of GrabInsure, said, “Private-hire drivers have different needs from traditional motorists as they rely on their vehicles as their source of livelihood, and face seasonal fluctuations in earnings. With this launch, we are rethinking motor insurance from the ground up. By leveraging insights on a driver’s track record on Grab, we can offer more competitive pricing to reward safer driving and better service.” The launch adds to GrabInsure’s broader set of protection products for driver-partners. These include its Earnings Protection Policy, which provides additional support on top of Grab’s existing complimentary coverage. The policy covers compassionate leave, booking cancellations or no-shows, and downtime caused by vehicle cleaning after passenger-related incidents.     Featured image: Edited by Fintech News Singapore, based on image by topntp26 via Freepik The post Grab Offers Motor Insurance for Singapore Private-Hire Drivers appeared first on Fintech Singapore.

DBS and POSB digital banking services were restored this afternoon on 19 March 2026 after some customers faced difficulties accessing certain digital services earlier in the day. The bank said its digibank mobile and online services, along with DBS PayLah!, had returned to normal as of 1:19pm. Earlier, the bank said it was working to fully recover services. During the disruption, DBS said customers could still make payments using DBS and POSB cards, check account balances through DBS and POSB ATMs and digiBot, and withdraw cash from DBS and POSB ATMs as well as POSB Cash-Points. Wealth clients were also told to contact their Relationship Manager to place trades. The bank said customers’ monies and deposits remained safe. The latest disruption follows earlier service issues at DBS. In June 2025, DBS and POSB customers again reported problems accessing mobile banking services, marking the second such outage for the bank that year. Another disruption affected digital banking and ATM services in Singapore in March 2025. Those earlier outages had already drawn regulatory action from the Monetary Authority of Singapore. In May 2023, MAS raised DBS’ additional capital requirement for operational risk to 1.8 times its risk-weighted assets for that category. In November 2023, MAS also imposed a six-month pause on the bank’s non-essential IT changes and new business acquisitions to keep it focused on improving the resilience of its digital banking services. The restriction was lifted at the end of April 2024, though the additional capital requirement remained in place.     Featured image: Edited by Fintech News Singapore, based on image by DBS The post DBS Restores Digital Banking Services After First Outage of 2026 appeared first on Fintech Singapore.

The fintech sector continues to be one of the most dynamic forces reshaping financial services across Asia-Pacific. This ranking, drawn from the FT-Statista High-Growth Companies Asia-Pacific 2026 list, spotlights the region’s fastest-growing fintech companies based on revenue growth between 2021 and 2024. From digital banks and payment infrastructure to insurtech and wealth management platforms, these companies reflect the breadth and ambition of Asian fintech innovation. Singapore leads the fintech pack with 12 entrants, followed by India with 11, underscoring both markets’ reputations as regional fintech powerhouses. Standout performers include Singapore’s Aspire (1772%) and Storepay (1722%), Indonesia’s DurianPay (1626%), and Malaysia’s PolicyStreet (1311%). Last updated: 19 March 2026 Source: Financial Times analysis 12 Fastest-Growing Singapore Fintechs The top three fastest-growing Singapore fintechs in 2026 are Aspire, Storepay and Syfe, with the first two hitting 1700+% in their absolute growth rates. Aspire Absolute growth rate: 1772.43% Revenue (2024): $44.72 million Founded in 2018, Aspire is an integrated financial operating system designed for modern enterprises. Trusted by over 50,000 companies, the platform offers a unified interface to streamline international payments, treasury operations, and end-to-end expense and cash flow management. Storepay Absolute growth rate: 1722.18% Revenue (2024): $8.75 million Storepay provides a BNPL service designed to make purchases, regardless of size,  a budget-friendly and accessible affair. Headquartered in Singapore, the business also operated in Mongolia, Indonesia and Vietnam. Syfe Absolute growth rate: 632.62% Revenue (2024): $9.59 million Syfe functions as a digital wealth platform and manages $10+ billion in client assets. The platform provides a range of investing solutions, including cash management, managed portfolios, brokerage, private wealth, and Syfe for Business. Nium Absolute growth rate: 266.67% Revenue (2024): $90.55 million Founded in 2014 to simplify the complexities of cross-border payments, Nium has evolved into a diverse team of over 750 professionals across 10+ global offices. The company provides infrastructure for banks, money transfer operators, and enterprises looking to optimise matters like payroll, spend management, and more. CoverGo Absolute growth rate: 261.06% Revenue (2024): $3.9 million CoverGo is an insurtech company that delivers a no-code core insurance platform for clients globally. Solutions provided include CoverGo for Health, CoverGo for Life, and CoverGo for P&C. Spark Systems Absolute growth rate: 233.33% Revenue (2024): $5.12 million Spark Systems is an eFX platform which is built entirely in-house with a suite of advanced technologies to provide a holistic eFX solution. It runs on open architecture CEP technology, which allows plug-and-play algorithm trading strategies, with a built-in risk control system. Lighthouse Canton Absolute growth rate: 176.95% Revenue (2024): $26.34 million Lighthouse Canton is a global investment institution providing wealth and asset management services, working with clients across geographies across offices in four countries. The business uses integrated tech systems with the purpose of delivering quality client experiences, including digitised services, automated construction of complex portfolios, and real-time information access from partner banks. Funding Societies Absolute growth rate: 173.60% Revenue (2024): $54.36 million Launched in 2015, Funding Societies’ purpose is to create financial opportunities for every person, and in doing so, uplift societies across SEA. SMEs are a specific focus, and Funding Societies aims to provide accessible, reliable business financing to individuals and institutions alike. iFast Corporation Absolute growth rate: 119.38% Revenue (2024): $185.88 million iFast Corporation is a global digital banking and wealth management platform, delivering a suite of investment products and financial services to financial advisory platforms, banks, multinational companies, internet companies, and retail and high-net-worth investors in Asia. The group offers 28,300+ investment products, with presence in Hong Kong, Malaysia, China, and the UK. Una Financial Absolute growth rate: 55.14% Revenue (2024): $202.35 million Una Financial delivers financial services such as short-term lending and instalment loans, while also operating an investment platform. The company deploys machine learning and data-driven and is represented in several markets in Europe and Asia. M-Daq Global Absolute growth rate: 51.94% Revenue (2024): $42.54 million M-Daq Global specialises in FX and payment solutions, delivering cross-border transactions for businesses globally. The fintech operates across 7 countries, including Indonesia, China, Hong Kong, and the UK. Solutions provided include CheckGPT, which makes onboarding faster with AI-powered KYB for compliance. Choco Up Absolute growth rate: 49.29% Revenue (2024): $5.14 million Choco Up is a platform which provides revenue-based financing and business growth solutions to Asia-Pacific digital merchants and SMEs. According to its website, it has reached 1000+ funding rounds. The company offers a range of flexible financing solutions, namely Upstart, Upstart Plus, and Upfront.   11 Fastest-Growing Indian Fintechs India’s Credgenics tops this list of fastest-growing Indian fintechs in 2026 with 596.99% in its absolute growth rate, followed closely by Svamaan Financial Services at 535.15%. Credgenics Absolute growth rate: 596.99% Revenue (2024): $22.71 million Credgenics provides a loan collection and debt resolution tech platform for banks, non-banking finance companies, fintech and more worldwide. It runs an AI-powered SaaS-based platform. The company has handled 98+ million retail loan accounts over US$250 billion in FY2024 for collections, according to its website. Svamaan Financial Services Absolute growth rate: 535.15% Revenue (2024): $28.71 million Svamaan Financial Services deploys a data-based approach to hit two goals: financial inclusion while driving impact for its customers. The company’s products and services, including loan amounts, are tailored to suit their customer’s needs and requirements. Svamaan applies a fully paperless and cashless approach from inception to loan disbursement. Juspay Absolute growth rate: 356.15% Revenue (2024): $61.47 million Juspay’s goal is to simplify payment orchestration and global coverage. Headquartered in Bangalore, the company’s global network spans 1500+ payment experts across Dubai, San Francisco, Singapore and more. Juspay secured $50 million in funding in January, which will support its international expansion and product development plans. Vyapar Absolute growth rate: 350.64% Revenue (2024): $10.79 million Vyapar is a free business accounting software that indian SMEs can use for their invoicing, inventory, and accounting needs. The company shares that it has 10+ million downloads and runs in English and Hindi. Scripbox Absolute growth rate: 340.91% Revenue (2024): $13.06 million Scripbox aims to help individuals reach their financial goals, comprising wealth plans, goal-based plans, mutual funds, fixed deposits and more. The company applies recommendations by advisors and data-backed algorithms. Aye Finance Absolute growth rate: 239.33% Revenue (2024): $179.86 million Aye Finance provides business loans to SMEs across India, with fully digital loan applications, including loan decisioning via its data science model. Altius Investech Absolute growth rate: 206.45% Revenue (2024): $30.53 million Altius Investech is a data-driven intelligence platform which democratises access to information on alternative investment opportunities. It provides comprehensive data and insights on pre-IPO and late-stage businesses by exploring trends, assessing market dynamics, and deploying strong intelligence tools. Angel One Absolute growth rate: 131.93% Revenue (2024): $626.08 million Angel One provides a suite of services, including brokering, margin trading, depository services, investment education and the distribution of third-party financial products. The company provides a wide array of investment options, including stocks, IPOs, mutual funds and more. Blacksoil Absolute growth rate: 114.52% Revenue (2024): $22.72 million Blacksoil functions as an alternative credit platform which delivers alternative credit products and solutions to growing companies. It expanded into supply chain finance with SaralSCF, a B2B fintech platform that partners with mid-size enterprises to navigate the working capital needs in their supply chain. Vayana Absolute growth rate: 113.95% Revenue (2024): $11.44 million Vayana is a supply chain finance platform that offers numerous trade credit and trade enablement solutions across 600+ cities in India. According to its website, it has facilitated $55+ billion in financing with over 3000+ supply chains covered. LenDenClub Absolute growth rate: 60.73% Revenue (2024): $28.26 million LenDenClub is a peer-to-peer lending platform with a fully digital process for lending, where every borrower is said to be screened across 670+ parameters.   4 Fastest-Growing Hong Kong Fintechs Hong Kong is home to four of the fastest-growing fintechs in the Asia Pacific, which are Bowtie, Statrys, HashKey Group and WeLab Bank. Bowtie Life Insurance Company Absolute growth rate: 328.50% Revenue (2024): $35.25 million Bowtie is one of Hong Kong’s first virtual insurers. It offers a platform which delivers medical insurance plans directly to customers, achieving $100+ billion in total amount in insurance coverage. Statrys Absolute growth rate: 255.29% Revenue (2024): $7.20 million Statrys provides tailored payment, corporate and accounting solutions to SMEs, entrepreneurs, as well as startups through its platform. The company operates in Hong Kong, Singapore and the European Union. HashKey Group Absolute growth rate: 230.66% Revenue (2024): $92.36 million HashKey Group is a digital asset company in Asia, operating in regions like Hong Kong, Singapore, and Japan. The group has a global Web3 ecosystem spanning across HashKey Exchange, HashKey Global, HashKey Capital, HashKey OTC, HashKey Cloud, and HashKey Tokenisation. The group also has a listed HashKey platform token, HSK. WeLab Bank Absolute growth rate: 88.10% Revenue (2024): $88.11 million WeLab Bank is a digital bank licensed by the Hong Kong Monetary Authority. The company provides personalised customer experiences using GenAI and AI agents, and has established an AI-first partnership with Google.   3 Fastest-Growing South Korean Fintechs South Korean fintechs Toss, TheCheat and Wadiz enter the list as the country’s fastest-growing fintechs in 2026 in APAC. Toss Absolute growth rate: 160.75% Revenue (2024): $1434.39 million Toss launched in 2015 as a money transfer service, and has since expanded into a superapp, delivering everything from digital banking to a financial marketplace, credit scores, money transfers and more. As of December 2025, Toss has 100,000+ business customers. TheCheat Corporation Absolute growth rate: 83.34% Revenue (2024): $1.52 million TheCheat Corporation is a fraud prevention fintech established in 2006, and is an information-sharing site for fraud victims, including cryptocurrency damages. Wadiz Absolute growth rate: 82.57% Revenue (2024): $31.72 million Wadiz is a crowdfunding platform that handles rewards and equity-based crowdfunding. According to its website, the company has funded 83k+ projects and has 17+ million supporters.   2 Fastest-Growing Australian Fintechs This year, Beforepay Group and iPartners are in the list of the fastest-growing Asia-Pacific fintechs from Australia. Beforepay Group Absolute growth rate: 162.93% Revenue (2024): $26.51 million Founded in 2019, Beforepay Group uses AI, machine learning and analytics to deliver affordable and secure financial products. The group delivers its solutions through Beforepay, a DTC personal finance platform and Carrington Labs, which is an “enterprise provider of cash flow underwriting and credit risk analytics. iPartners Absolute growth rate: 122.58% Revenue (2024): $13.98 million iPartners runs a digital platform which makes it easy for investors to discover, access, and invest. Its platform is said to ensure an intuitive digital investment process, which is paperless and a 5-click investment process.   2 Fastest-Growing Malaysian Fintechs PolicyStreet makes it into the list as one of the fastest-growing Malaysian fintechs with a 1311+% in absolute growth rate, and is accompanied by CapBay. PolicyStreet Absolute growth rate: 1311.27% Revenue (2024): $30.41 million PolicyStreet is a digital insurance platform that compares prices across insurers, aiming to provide personalised coverage for every life stage. Its group of companies operated across Southeast Asia and Australia, working with 40+ life, general and takaful providers globally to offer a wide range of products and services. CapBay Absolute growth rate: 248.19% Revenue (2024): $13.61 million CapBay is a supply chain finance and P2P platform that helps SMEs with financing solutions. The company deploys its proprietary credit-decisioning model, enabling businesses of every size to obtain financing, while banks and investors are able to participate in financing deals.   Fastest-Growing Taiwanese Fintech Taiwan’s OBOOK Holdings, also known as OwlTing Group, makes it into the list as the fastest-growing Taiwanese fintech in the Asia Pacific. Obook Holdings Absolute growth rate: 188.78% Revenue (2024): $7.57 million OBOOK Holdings operates as OwlTing Group worldwide, which is a blockchain tech company founded in Taiwan with subsidiaries across the US, Japan, Singapore, Hong Kong and more. The company aims to leverage blockchain tech to provide businesses with reliable and transparent data management, with a hybrid Web2-Web3 payment suite to help businesses operate in the growing stablecoin economy.   Fastest-Growing Filipino Fintech Paynamics is the sole Filipino fintech company among the fastest-growing APAC fintechs in 2026, hitting an absolute growth rate of 161.21%. Paynamics Absolute growth rate: 161.21% Revenue (2024): $10.93 million Paynamics delivers a comprehensive payment infrastructure that empowers SMEs, conglomerates, financial institutions and government agencies. It provides access to 50+ payment channels, and also delivers checkout, payout and business wallet solutions.   Fastest-Growing Indonesian Fintech Indonesian fintech DurianPay holds the third place as the fastest-growing fintech in the APAC region, with a 1625.85% in absolute growth rate. DurianPay Absolute growth rate: 1625.85% Revenue (2024): $9.07 million Durianpay is a B2B payments infrastructure that aims to streamline transactions across Indonesia and the rest of Southeast Asia. The business offers a full-stack platform for payment acceptance, payout, reconciliation and reporting.   Frequently Asked Questions (FAQs) How were the fintech companies selected for this ranking? Companies applied for or were identified through research between July and December 2025. To qualify, each company needed at least $100,000 in 2021 revenue, at least $1 million in 2024 revenue, and had to be an independent, Asia-Pacific headquartered business. Revenue growth had to be primarily organic. There were also other factors meh considered during the ranking process. What does “absolute growth rate” mean in this context? The absolute growth rate reflects the total percentage increase in revenue between 2021 and 2024. The ranking uses compound annual growth rate (CAGR) for ordering, calculated from revenue figures submitted in local currencies and converted to USD using World Bank annual average exchange rates. Which country has the most fintech companies in the ranking? Singapore is at the top, with 12 fintech entrants, followed by India with 11 entrants. Is this ranking exhaustive of all fintechs in the region? No. As noted in the methodology by the Financial Times, the ranking does not claim to be complete. Some companies chose not to participate or declined to make their financials public. Featured image edited by Fintech News Singapore based on an image by freepik on Freepik The post Fastest-Growing Asia Pacific Fintechs, According to the Financial Times (2026) appeared first on Fintech Singapore.

2C2P has been engaged by M-PAY to provide technical payment services for Sun PhuQuoc Airways in Vietnam, with other Asian markets set to follow. The partnership will allow customers booking Sun PhuQuoc Airways flights online in Vietnam to access a broader range of payment options. Other markets in the pipeline include China, Malaysia, India, Singapore, South Korea and Thailand. M-PAY will provide the airline with Payment Air Controller, or PACO, a payment orchestration system for airlines. The platform supports payment methods including cards, digital wallets, QR payments and direct debit. Through a single API integration, the system can route payments to different acquirers and includes retry logic aimed at improving cost efficiency. It is also PCI DSS Level 1-certified and integrated with global distribution systems such as Amadeus and Sabre. Worachat Luxkanalode Worachat Luxkanalode, Group CEO of 2C2P, said, “Today’s travellers expect instant and localised booking experiences. As the go-to solutions provider for airlines operating into and within Asia, we are excited to partner with M-PAY and Sun PhuQuoc Airways to introduce Phu Quoc to more Vietnamese and Asian travellers.” Nguyen Manh Quan Nguyen Manh Quan, CEO of Sun PhuQuoc Airways, said, “As Sun PhuQuoc Airways expands from Phu Quoc to key destinations in the region, seamless and localised payment experiences are essential to making travel easier and more intuitive. This collaboration is a key part of our commitment to delivering a connected ‘resort-in-the-sky’ journey. Together with our partners, we look forward to contributing to better customer experience and greater accessibility across the region.”     Featured image: Edited by Fintech News Singapore, based on image by Sun PhuQuoc Airways The post 2C2P and M-PAY to Expand Digital Payment Options for Sun PhuQuoc Airways appeared first on Fintech Singapore.

HSBC is weighing deeper workforce cuts as it explores how artificial intelligence could reshape parts of its operations, Bloomberg reported. The review is still at an early stage, with no final decision made on the scale or structure of any reductions. The bank could eventually cut around 20,000 roles over the next several years, according to people familiar with the matter. Some of the reduction may come from not replacing departing staff, while other changes could result from business sales or exits. Non-client-facing roles in global service centres are seen as among the most exposed. The plan, if carried out, would unfold over a three- to five-year period as HSBC reviews how AI could reduce work across parts of its middle and back office functions. The review comes as Chief Executive Officer Georges Elhedery continues a broader overhaul of the bank. Since taking over in 2024, he has already cut thousands of jobs while also selling, merging or shutting some businesses. HSBC had around 210,000 employees at the end of 2025. The reported move also reflects a wider shift across global banking. Bloomberg Intelligence said last year that banks worldwide could eliminate as many as 200,000 jobs over the next three to five years as AI takes on more tasks now handled by employees. Chief information and technology officers surveyed by the research unit expected an average net workforce reduction of 3 percent. At HSBC, the potential cuts would come alongside a broader push to lower costs and improve productivity. HSBC said recently that it expects to achieve its US$1.5 billion cost-savings target in the first half of the year, six months ahead of schedule. Speaking at a Morgan Stanley conference on Wednesday, Chief Financial Officer Pam Kaur said the bank sees room to use AI to reduce costs and improve employee productivity. She pointed to customer service centres, know-your-customer teams and transaction monitoring as areas where the technology could make operations more efficient. HSBC declined to comment.     Featured image: Edited by Fintech News Singapore, based on image by smth.design via Freepik The post HSBC Weighs Around 20,000 Job Cuts in Multiyear AI Review appeared first on Fintech Singapore.

Snowflake is extending its enterprise AI strategy with Project SnowWork, a platform designed for autonomous task execution. Launched in research preview for a limited set of customers, Project SnowWork is designed to help business users complete multi-step tasks through conversational prompts across planning, analysis and execution. Snowflake said the platform can handle tasks such as preparing forecast presentations, identifying churn risks and uncovering supply chain bottlenecks, executing workflows from start to finish and delivering structured outputs based on business needs. The launch is part of Snowflake’s broader push into what it calls the agentic enterprise. Sridhar Ramaswamy “Project SnowWork looks to put secure, data-grounded AI agents on every surface, so business leaders and operators can move from question to action instantly. By elevating AI from experimentation to enterprise-grade autonomous execution, Project SnowWork serves as the secure foundation for how modern enterprises will get work done in the AI era.” said Sridhar Ramaswamy, Chief Executive Officer, Snowflake. Built on Snowflake’s data platform, Project SnowWork is designed to connect enterprise data, AI capabilities and business systems in a more coordinated way. Snowflake said this allows users to generate analysis, receive recommended next steps and complete tasks with less reliance on analysts or technical teams. Snowflake said the platform includes pre-configured AI profiles for roles such as finance, sales, marketing and operations. It can query data, apply analysis, summarise insights, generate structured deliverables and prepare follow-up actions within a single workflow. The company added that Project SnowWork applies existing platform controls including role-based access, masking policies, audit logging and governance rules. The launch also expands Snowflake’s wider AI portfolio. The company said Project SnowWork builds on Snowflake Intelligence, which answers business questions using natural language, by adding the ability to act on those insights. It also sits alongside Cortex Code, Snowflake’s AI coding agent for data engineering, analytics and development tasks.     Featured image: Edited by Fintech News Singapore, based on image by DC Studio via Freepik The post Snowflake Debuts AI Platform to Automate Tasks for Business Users appeared first on Fintech Singapore.

Five companies are in the running to set up Vietnam’s first licensed crypto exchanges, Reuters reported, citing a Finance Ministry document. Those named include affiliates linked to Techcombank, VPBank and LPBank, alongside VIX Securities and Sun Group. Sun Group and VPBank said they had submitted applications, while the Finance Ministry did not comment on the list. The applications come as Vietnam moves to test a domestic crypto exchange model and considers new restrictions on trading through foreign platforms. The proposed changes would mark a significant shift for a market where many users still trade through offshore exchanges. Vietnam placed fourth in Chainalysis’ 2025 Global Crypto Adoption Index. Reuters also reported that trading tied to Vietnamese users topped US$200 billion in the 12 months to June. Crypto is not accepted as legal payment in Vietnam, but trading activity remains strong. Market participants say overseas platforms such as Binance, OKX and Bybit continue to dominate, while industry representatives argue that local exchanges could help build a more regulated domestic crypto market.     Featured image: Edited by Fintech News Singapore, based on images by suriyawutsuriya and boggy via Freepik The post Five Firms in the Running to Launch Vietnam’s First Licensed Crypto Exchanges appeared first on Fintech Singapore.

David Hardoon is departing Standard Chartered less than a year after joining the bank as Global Head of AI Enablement, according to Bloomberg. Hardoon, who is based in Singapore, is on gardening leave, the report said. Standard Chartered declined to comment on the departure. He joined the bank in April 2025 to support its broader AI ambitions as lenders step up efforts to embed the technology across core business functions. Hardoon brought experience across banking, regulation, academia and AI startups. His earlier roles included serving as the first Chief Data Officer at the Monetary Authority of Singapore. He also held senior data and AI positions at UnionBank and UnionDigital in the Philippines before leading Aboitiz Data Innovation, the conglomerate’s data science and AI venture. The departure comes as banks continue investing in AI talent, governance and deployment. In the 2025 Evident AI Index, Standard Chartered ranked 26th globally for AI maturity, based on factors such as talent, innovation, leadership and transparency.     Featured image: Edited by Fintech News Singapore, based on image by ghiska via Freepik The post David Hardoon Reportedly Departs StanChart After Brief Stint as Global AI Lead appeared first on Fintech Singapore.

Singapore businesses are among the latest users to gain access to PayPal USD as PayPal expands the stablecoin to 70 markets. The stablecoin will not be available to retail users in Singapore. PYUSD, PayPal’s US dollar-backed stablecoin, is being made available through PayPal accounts across Asia-Pacific, Europe, Latin America and North America. PayPal said users in newly supported markets can buy, hold, send and receive PYUSD directly from their PayPal accounts, subject to local regulations and product availability. Eligible users can also transfer PYUSD to friends and family through PayPal or third-party digital wallets, and convert it into local currency when withdrawing funds. For businesses that accept PYUSD, PayPal said proceeds can be used in minutes rather than days or weeks, helping improve liquidity and support working capital needs. May Zabaneh May Zabaneh, Senior Vice President and General Manager of Crypto at PayPal, said, “Enabling PYUSD in users’ accounts across 70 markets gives people faster access to their funds, lower-cost ways to send money across borders, and a more direct path to participating in the global economy, and that is what drives commerce forward for everyone.” PYUSD was launched in the United States in 2023. PayPal said the expansion is part of its broader push to grow the stablecoin’s use in global commerce. Available markets include Colombia, Costa Rica, the Dominican Republic, the Faroe Islands, Greenland, Guatemala, Honduras, Panama, Peru, Singapore, the United Kingdom and the United States. PayPal said users in the remaining markets will gain access to PYUSD in the coming weeks. Rewards on PYUSD holdings will not be available to users in Singapore or the United Kingdom.     Featured image: Edited by Fintech News Singapore, based on image by jannoon028 via Freepik The post PayPal Offers Stablecoin Access to Singapore Businesses in 70-Market Expansion appeared first on Fintech Singapore.

Mastercard is building a new generative AI model using anonymised transaction data, with cybersecurity and fraud detection among its first planned uses. The company said the model is designed as an insights engine for payments and commerce rather than a chatbot. It described the system as a large tabular model trained on structured data. Over time, the model could also support services such as loyalty and rewards programmes, personalisation, portfolio optimisation and analytics. Mastercard said it is training the system on billions of anonymised transactions and may later expand it to include other datasets such as merchant location, fraud, authorisation, chargeback and loyalty programme data. The company said the model can learn patterns from data with less manual input than its existing systems, which often rely on data scientists to add features that help flag suspicious activity. In early testing, Mastercard said the model outperformed standard machine learning techniques in some cases, including showing better ability to identify legitimate high-value purchases that might otherwise be flagged as suspicious. Steve Flinter Steve Flinter, Distinguished Engineer at Mastercard, said, “We plan to build hybrid cybersecurity systems that combine the best of both our current AI models and this new LTM. This should help us build up and futureproof our cyber defenses.” Mastercard said the model could eventually help reduce the need to build and maintain thousands of separate AI models across different markets, customers and use cases. The project is being developed with Nvidia and Databricks, and Mastercard plans to share more about the work at Nvidia GTC 2026.       Featured image: Edited by Fintech News Singapore, based on image by Frolopiaton Palm via Freepik The post Mastercard Builds Generative AI Model for Payment Insights, Fraud Detection appeared first on Fintech Singapore.

Finastra has launched a new AI Center of Excellence and named Chris McClellen to lead the effort as it moves to coordinate and scale artificial intelligence initiatives across the company. McClellen has been appointed Senior Vice President, Group Head of AI, and will report to Chief Technology Officer Mike Stawchansky. He brings experience in AI strategy, enterprise software and data platforms, including in regulated environments, and a track record of turning emerging technology platforms into practical, scalable solutions. The company said the new AI Center of Excellence will draw on expertise across engineering, product and other functions to coordinate AI initiatives, share best practices and support wider development of AI capabilities across the business. AI projects in the company are already underway in areas including product development, internal operations and customer-facing work. Chris Walters Chris Walters, Chief Executive Officer of Finastra, said, “We already have a tremendous amount of AI talent and innovation across Finastra. Establishing the AI Center of Excellence allows us to bring that expertise together while continuing to grow it. We’re expanding our teams and hiring in key technology hubs including Atlanta and India, combining the strength of our existing teams with new talent. AI has the potential to deliver significant value to our customers, and this structure helps us move faster and scale the work already underway across the company.” Chris McClellen McClellen added, “AI presents an important opportunity for the financial services industry, and Finastra has already built a strong foundation of work across the company. I’m excited to help bring these efforts together, build on that progress, and support the continued development of AI capabilities across the organisation.”     Featured image: Edited by Fintech News Singapore, based on image by smartmalik6384 via Freepik The post Finastra Names Chris McClellen to Lead New AI Center of Excellence appeared first on Fintech Singapore.

Wise has secured the five licences needed to operate in Thailand, paving the way to roll out its foreign currency wallet and card services locally. The company said it is the first non-bank to receive the approvals. The approvals were granted by the Bank of Thailand and the Ministry of Commerce. Wise said the move will allow Thai citizens, businesses and foreign residents to use a digital foreign currency wallet to send, receive and spend money in multiple currencies through a single app. The rollout will take place in stages, with customers now able to join a waitlist for access. The entry into Thailand adds to Wise’s expansion in Asia-Pacific, which the company said accounted for more than 20 percent of its global revenue in FY25. Revenue from the region rose 22 percent to £263.8 million in FY25. Thailand’s regulatory framework requires multiple licences covering payments, electronic money and foreign exchange services, making it a more complex market for international payments companies to enter. SK Saraogi SK Saraogi, APAC Head of Banking and Expansion at Wise, said, “Thailand’s cross-border payments market has long been dominated by traditional banks, and Wise is bringing a faster, more transparent alternative. With these licences, customers will soon be able to manage money seamlessly whether they’re sending it abroad or using it locally. Beyond Thailand, we see strong demand for our products across APAC and will continue to increase our regulatory footprint to bring our products to even more customers.” Wise now holds more than 75 regulatory licences globally and has recently received full approval to launch in the UAE, along with conditional approval in South Africa.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Wise Secures Five Licences to Roll Out Wallet and Card Services in Thailand appeared first on Fintech Singapore.

Thunes has enabled banks to send real-time payments to stablecoin wallets through their existing Swift infrastructure. The move gives financial institutions connected to Swift access to more than 500 million stablecoin wallets worldwide with no additional integration, extending Thunes’ Direct Global Network to existing Swift users. Thunes launched its Pay-to-Stablecoin-Wallets solution in October 2025. The service supports USDC and USDT and allows instant, 24/7 cross-border payments to stablecoin wallets in more than 140 countries. The offering is aimed at use cases such as salary payouts, family remittances and business transfers, allowing funds to move directly from a bank account to a stablecoin wallet while giving recipients faster access to funds. It may also offer an alternative for users and businesses seeking more stable access to hard currencies in markets affected by currency volatility. The latest rollout builds on Thunes’ earlier Pay-to-Bank and Pay-to-Wallet services, which also connect financial institutions to its Direct Global Network through Swift. Chloé Mayenobe Chloé Mayenobe, Deputy CEO at Thunes, said, “Banks can now move value instantly across any rail – fiat or stablecoin – within a trusted, compliant network, using their existing Swift connection. Thunes is powering borderless, digital-first payments and advancing our vision to connect the next billion users to the global economy.” The service is supported by Thunes’ SmartX Treasury System, which handles fiat-to-stablecoin liquidity, and its Fortress Compliance Platform, which provides security and transaction traceability. Elie Bertha Elie Bertha, Chief Product Officer at Thunes, said, “Through a single Swift message, any bank can now deliver instant payouts to all key destinations including wallets, banks and stablecoin wallets around the world, without complexity or integration barriers. It’s interoperability at its best, connecting banks, wallets, and digital currencies through one simple connection.”     Featured image: Edited by Fintech News Singapore, based on image by romansigaev via Freepik   The post Thunes Enables Stablecoin Payouts for Banks With Existing Swift Infrastructure appeared first on Fintech Singapore.

Circles has partnered with Airwallex to enable telecom operators to launch digital banking services across more than 70 countries through its CirclesX platform. The partnership will integrate Airwallex’s embedded finance capabilities into CirclesX, Circles’ SaaS platform for telecom operators. The companies said telcos will be able to offer services such as global payouts, travel cards, supplier payments and expense management without building or managing their own financial infrastructure. Awais Malik “At Circles, we’re continuously pushing the boundaries of innovation for the industry beyond just core telco products and we are confident that embedded financial products will power the next phase of revenue growth for telcos. With Airwallex’s fintech expertise, we’ve built a globally scalable financial services stack embedded in our platform, making it seamless for any telco organisation to launch and scale financial products or services with zero licensing and infrastructure hassles,” said Awais Malik, Chief Growth Officer, Circles. Arnold Chan “Telecom operators sit at the centre of their customers’ daily lives, but connectivity alone is no longer enough to drive long-term growth. By partnering with Circles and integrating with the CirclesX platform, we’re enabling operators to embed trusted, global financial services directly into their digital experiences – unlocking new revenue streams, deeper engagement and stronger customer lifetime value at scale,” said Arnold Chan, General Manager, Asia-Pacific, Airwallex. Circles said FinX will help operators expand into payments and remittances using existing KYC capabilities. Airwallex supports money movement to more than 200 countries and territories and holds more than 80 licences and permits globally. CirclesX has been used by telecom operators including KDDI, e&, and AT&T to launch digital MVNOs across Asia and South America. It has also supported Telkomsel’s end-to-end digital backbone in Indonesia. In Singapore, Circles.Life has already launched two FinX-powered products: a semi-open wallet and a cashback card. Circles will begin rolling out FinX to existing CirclesX customers and other telecom operators in the coming weeks.     Featured image: Edited by Fintech News Singapore, based on image by pvproductions via Freepik   The post Circles Taps Airwallex to Add Digital Banking Capabilities for Telcos appeared first on Fintech Singapore.

Independent Reserve will expand its offerings for corporate, accredited and institutional customers across APAC, with new products planned for the second half of 2026. The crypto exchange said the new offerings will be introduced in Singapore, Australia and the UAE. Preliminary plans include payment capabilities for corporate customers, as well as yield products, subject to regulatory approval. The expansion follows IG Group’s acquisition of a majority stake in Independent Reserve in February 2026. The company said the deal has advanced its next phase of product development and sharpened its regional growth focus. Lasanka Perera Lasanka Perera, Chief Executive Officer of Independent Reserve Singapore, said, “We’re seeing stronger demand from corporates and institutions for infrastructure that is regulated, scalable and built for long term participation. These new products are an extension of how we’ve been evolving our platform as we continue to build on the governance and compliance discipline we’re known for. With Singapore as our base, we’re in a strong position to support more customers across multiple APAC markets.” Independent Reserve said Singapore will remain central to its regional strategy, with continued investment in local talent, capabilities and product development. The exchange will continue operating under its existing leadership team. The company also said it will continue its community partnerships in Singapore, including its support for golfer Shannon Tan, Extra•Ordinary People and Tan Tock Seng Hospital.     Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Freepik The post Independent Reserve Expands APAC Offerings Following IG Group Acquisition appeared first on Fintech Singapore.

Singapore-based dtcpay has secured US$10 million in Series A funding to expand into new licensed markets and grow its stablecoin payments business. The round was led by Vertex Ventures Southeast Asia & India, while Singapore-based boutique investment bank Favour Capital acted as exclusive financial advisor. The company said the funding will be used to enhance its product suite, strengthen its infrastructure and support expansion across newly licensed jurisdictions. Founded by Alice Liu and Band Zhao, dtcpay provides payment infrastructure that allows businesses and individuals to accept, store and transact in stablecoins for everyday use. Its platform includes a real-time swap engine that enables instant settlement between stablecoins and fiat currencies. Alice Liu Alice Liu, CEO and Co-Founder of dtcpay, said, “By prioritising compliance and regulatory rigour alongside a user-centric experience, we have built a foundational infrastructure ready for global scale. This capital will accelerate our product adoption and facilitate our entry into high-growth markets.” dtcpay has secured an Electronic Money Institution licence in Luxembourg, which allows it to offer regulated payment services across the European Economic Area. The company already holds a Major Payment Institution licence from the Monetary Authority of Singapore, along with licences and registrations in Hong Kong, Australia, the United States and Canada. dtcpay said it is also among a select few firms in Asia Pacific to partner with Visa on card products that support transactions across digital and fiat currencies. These include Visa Infinite cards for individuals and corporate card solutions for businesses. Watch our interview with dtcpay COO Sam Lin on why the stablecoin market could grow well beyond US$2 trillion.   Featured image: Edited by Fintech News Singapore, based on image by vart_dant via Freepik   The post dtcpay Raises US$10 Million to Expand Global Stablecoin Payments Network appeared first on Fintech Singapore.

Thailand’s Securities and Exchange Commission (SEC) said it is seeking public comment on proposed Travel Rule requirements for digital asset transfers. The proposed rules would require digital asset business operators to collect and transmit information tied to transfers to support anti-money laundering checks and related risk management. The proposal follows coordination between the SEC and other agencies on measures to prevent technology-related crimes. The regulator said a January 2026 meeting of a subcommittee on suspicious transaction monitoring had agreed that the SEC and the Anti-Money Laundering Office would issue interim guidance for digital asset business operators. AMLO is preparing regulations under the Anti-Money-Laundering Act. Under the proposed framework, operators would need to establish policies and procedures for receiving and transmitting transfer information on behalf of customers. They would also have to collect transaction details, customer information and counterparty information for anti-money laundering checks and related risk management. Records for all digital asset transfer transactions would need to be retained for at least five years. The SEC said the ordering operator must send the transfer order together with relevant information, including details of the originator and beneficiary, to the beneficiary operator. Firms would also need to implement risk management measures for incoming and outgoing transfers. Pornanong Budsaratragoon SEC Secretary-General Pornanong Budsaratragoon said, “This initiative will enable digital asset business operators to obtain the necessary information for verifying and preventing the misuse of digital assets in technology‑related crimes, enhance the effectiveness of asset tracing and recovery, and help prevent the use of the digital asset market as a channel for money laundering activities in line with international standards.” The consultation paper is available on the SEC website and Thailand’s Legal Hub portal, with feedback open until 25 March 2026.     Featured image: Edited by Fintech News Singapore, based on image by funtap via Freepik The post Thai SEC Seeks Public Feedback on Travel Rule for Digital Asset Transfers appeared first on Fintech Singapore.

Mastercard has tapped Borderless.xyz for its Crypto Partner Program as it expands work on stablecoin-linked payment use cases. Borderless.xyz is joining as a launch partner alongside more than 85 companies across digital assets, payments and financial services, including Binance, Circle, PayPal, Ripple, Fireblocks, Solana and Polygon. The program focuses on cross-border transfers, B2B payments and global payouts using onchain infrastructure. The company joined Mastercard’s Start Path blockchain and digital assets accelerator in September 2025 as one of five selected firms. It has now moved on to the Crypto Partner Program as a launch partner. Borderless.xyz operates an API that connects wallet infrastructure to more than 14 licensed stablecoin providers across over 94 countries and more than 63 fiat currencies. Through the program, it is working with Mastercard on ways to connect that network to Mastercard’s payments infrastructure, which reaches consumers and businesses in more than 210 countries and territories. Kevin Lehtiniitty Kevin Lehtiniitty, CEO and Co-Founder of Borderless.xyz, said, “We started working with Mastercard through Start Path last year. Now we’re collaborating as launch partners on how stablecoin infrastructure connects to the world’s largest payments network. That progression tells you where this industry is heading, from speculative to real-world payments at scale.” Borderless.xyz said its infrastructure already supports global payouts for wallet provider DFNS, which is also part of the program, and enterprise on- and off-ramping for Bastion, whose clients include Sony. The company said its network connects wallet platforms with locally licensed providers that handle compliance and settlement in each market. Mastercard’s Crypto Partner Program is aimed at linking onchain innovation with payments infrastructure to support compliant digital asset use cases across markets. Borderless.xyz and Mastercard said they will continue working on connecting stablecoin on- and off-ramp infrastructure to Mastercard’s global network.     Featured image: Edited by Fintech News Singapore, based on image by Freepik The post Mastercard Taps Borderless.xyz as Launch Partner for Crypto Partner Program appeared first on Fintech Singapore.

Chubb has appointed Seshadri (Sesh) Iyer as Executive Vice President, Chubb Group, Operations, Technology and Digital Transformation, effective April 6. He succeeds Julie Dillman, who will retire on 2 April after nearly a decade with the company. In the role, Iyer will oversee Chubb’s global operations and technology. He will also work with Sean Ringsted, Chief Digital Business Officer, on the company’s digital transformation across underwriting, sales and service operations worldwide. Iyer will report to Evan G. Greenberg, Chairman and Chief Executive Officer of Chubb Limited and Chubb Group, and John Keogh, President and Chief Operating Officer of Chubb Group. Iyer joins Chubb from Boston Consulting Group, where he spent nearly 20 years working with clients across industries, including financial services, in North America, Europe and Asia. Most recently, he served as North America chair for BCG X, the firm’s technology design and build unit. He also led the firm’s work in the Americas on lean services and operations in technology and IT, as well as cloud computing. Reporting to Iyer will be Gordon Mackechnie, Global Head of Technology; Mike Jones, Global Operations Officer and Head of North America Operations and Technology; and Jamie Trish, Global Transformation Officer. Rakshit Kapoor, Global Data Officer, will report to both Iyer and Ringsted. Dillman has served as Executive Vice President, Chubb Group and Digital Transformation Officer since 2022. Previously, she was Senior Vice President, Chubb Group and Global Head of Operations and Technology. Before joining Chubb in 2016, she was Executive Vice President of Operations, eBusiness and Analytics at Travelers Insurance, where she led operations as well as company-wide digital and analytics delivery.     Featured image credit: Edited by Fintech News Singapore, based on image by Borin via Freepik The post Chubb Names Seshadri Iyer EVP for Operations, Technology and Digital Transformation appeared first on Fintech Singapore.