The 2026 FIFA World Cup is barely underway, and crypto scammers have already built the infrastructure to steal from fans in relation to World Cup crypto scams. Blockchain intelligence firm TRM Labs has identified four cryptocurrency addresses tied to three live scam operations targeting football supporters. These include two fake-ticketing sites as well as one fixed-match betting pitch, all of which are reported to Chainabuse. Ari Redbord, Global Head of Policy at TRM Labs, explained that criminals have a tendency to exploit major events and cultural moments, and don’t wait for kickoffs. He added, Ari Redbord “Scammers build and position their infrastructure weeks in advance, then scale it the moment public attention peaks. The advantage now is that every one of these payments is recorded on-chain, so compliance teams and law enforcement can screen against these addresses and routing patterns today, before the losses mount.” History offers cautionary precedents. Research from Palo Alto Networks’ Unit 42 shows that the Olympics has also not been immune to cyberattacks. The Tokyo Summer Olympics of 2020/2021 were targeted by phishing and social engineering campaigns aimed at athletes and ticket holders. Two years earlier, the 2018 Pyeongchang Winter Olympics suffered a far more dramatic blow: a cyberattack struck during the opening ceremony, knocking out internet networks and crippling both LAN and WiFi communications. More than 300 systems were compromised, and it took some 12 hours to fully restore operations. Fake Ticket Sites Are the Clearest Threat So Far Ticket fraud carries the clearest on-chain evidence identified so far. TRM Labs linked two fake ticketing operations to live addresses. Both mimic official or resale portals, advertise high-demand match availability, and direct buyers to pay in crypto. One Polygon address, also deployed on Ethereum, received approximately US$1,562, nearly all of it on a single day in April 2026. A second operation, tied to a Bitcoin address, kept its phishing page live but had not yet received victim payments at the time of TRM’s analysis. Both operations show the indications of active fraud infrastructure; convincing storefronts built to convert fan urgency into irreversible crypto transfers. The scam sites take advantage of a genuine tension in the ticketing market. Official resale portals still carried around 180,000+ unsold group-stage seats just two days before the tournament. Yet fans seeking to buy through unofficial channels remain exposed to fraudulent sellers who exploit scarcity and urgency. US law enforcement had already raised concerns before the tournament kicked off. The FBI warned in May that threat actors were spoofing FIFA’s website through typosquatting, which is creating lookalike domains built on minor misspellings of official URLs, to harvest personally identifiable information, including names, addresses, phone numbers, and banking details. The Los Angeles Sheriff’s Department separately warned residents that cybercriminals were building fake FIFA websites and social media advertisements designed to replicate legitimate ticketing pages. Its alert urged fans to be cautious of sellers requesting payment through methods like cryptocurrency and peer-to-peer payment apps, as transactions made through these channels could be difficult to reverse. Free Streaming Sites Are Just One Part, More Scams May Come With World Cup 2026 tickets, travel, and accommodation costs pressuring avid football fans, fake streaming platforms have emerged as another scam route. These sites claim to offer free or low-cost access to matches, pushing viewers to sign up and pay for access that sometimes lasts a lifetime. Certain cases use cryptocurrency payment methods, as they provide scammers with a quicker settlement path while reducing the victim’s ability to reverse the transaction. Palo Alto Networks’ Unit 42 has identified other potential ways cybercriminals could use during the FIFA World Cup 2026, showcased in the table below. Source: Unit 42 of Palo Alto Networks FIFA’s Blockchain Ticketing Creates Friction for Scammers Interestingly, while scammers are resorting to crypto rails to run their fraud operations, FIFA is deploying blockchain infrastructure to clean up the sport’s ticketing segments. FIFA is deploying Avalanche and Modex for a new ticketing model to curb bots, ticket fraud, and scalping challenges, according to Coindesk. Source: FIFA The system, called the FIFA blockchain, runs on an Avalanche Layer-1 blockchain. It features Right-to-Buy (RTB) and Right-to-Ticket (RTT). Right-to-Buy refers to an official allocation by FIFA for FIFA Collect users, which grants exclusive permission to purchase FIFA tickets for events like the FIFA World Cup 2026. It sets out how many tickets a user can buy, including for which match or event. This essentially gives users access to purchase tickets during a dedicated window. After the window closes, the Right-to-Buy expires. Meanwhile, Right-to-Ticket gives FIFA Collect users the right to claim an official FIFA World Cup 2026 ticket for a specific match and category, recorded in a collectible. Right-to-Tickets can be traded on the FIFA Collect Marketplace, subject to a 15% resale fee. Trading restrictions apply to Mexican residents. With these approaches, FIFA is possibly wiring to reclaim control over fan data and secondary ticket markets. This initiative is tied to FIFA’s broader ambitions to sharpen how users interact with its platforms and ship digital products that appeal to its fan base, which is said to consist of over five billion people. Reports indicate that over 100,000 RTBs have been issued. Secondary-market Right-to-Ticket volume has passed $15 million, and combined Right-to-Buy and Right-to-Ticket volume has exceeded $25 million. The one thing to remember here is that scammers and the sport are placing opposite wagers, and only one of them should keep your winnings. Featured image edited by Fintech News Singapore based on an image by DAIN LIM on Magnific The post FIFA Fights Fraud With Blockchain, While Scammers Use Crypto to Steal appeared first on Fintech Singapore.

Thailand is weighing tighter buy now, pay later (BNPL) rules as instalment payments move deeper into everyday consumer spending. Bloomberg reported that the Bank of Thailand is preparing oversight measures for BNPL providers as regulators worry that quick access to online credit could add to household debt pressures. Vitai Ratanakorn Governor Vitai Ratanakorn has warned that consumers are now using BNPL for small daily items, including drinks and meals, not only higher-ticket purchases. He said this could encourage people to spend before they have the money to pay. Thailand’s household debt stands at about 87% of gross domestic product, among the highest levels in Asia. Much of that debt is tied to consumption, leaving borrowers more exposed to income shocks. Vitai estimates that BNPL accounts rose to about six million last year, nearly ten times the level in 2021. Small-Ticket Spending Raises Debt Concerns The growth has been driven by e-commerce, mobile payments and checkout options that let shoppers turn purchases into instalment plans almost instantly. Short-term plans often advertise zero interest, but longer instalments can carry annual interest rates of up to 25%. The central bank is drafting rules for BNPL providers that offer instalment loans through online platforms. Possible measures include age and income restrictions, limits on eligible products, minimum purchase values and caps on charges. The rules could be issued by the end of the year. The regulatory push comes as Thai households face renewed pressure. Average monthly household income fell 2.5% last year to 28,308 baht, the first decline since 2019, according to the National Statistical Office. Household spending dropped 5.4%. Economists say BNPL may ease temporary cash flow pressure, but it also risks encouraging unnecessary spending and pushing repayments into the future.     Featured image: Edited by Fintech News Singapore, based on image by viktoryvisuals via Magnific The post Thailand Weighs BNPL Rules as Small-Ticket Spending Grows appeared first on Fintech Singapore.

Google Cloud has appointed Saruj Thipsena as its new Country Manager for Thailand to spearhead its regional go-to-market strategy, customer engagement, and cloud operations. In his new role, Saruj will guide Thai organisations in adopting the AI portfolio of Google Cloud as businesses transition into automated digital operations. He reports directly to Mark Micallef, Managing Director for Southeast Asia at Google Cloud. The appointment comes as the company expands its regional footprint, including a US$1 billion investment to establish a new cloud region in Bangkok, highlighting the growing strategic importance of the Southeast Asian digital economy to regional hubs like Singapore. Saruj joins the company from STelligence, a Thai AI and data analytics firm, where he served as Executive Director and Chief Technology Officer. His background spans more than two decades in enterprise technology, cloud computing, cybersecurity, and digital infrastructure. During his tenure at STelligence, he managed AI deployments for national projects and developed specialised compliance datasets. Previously, Saruj spent several years at Microsoft Thailand in leadership roles including Deputy Managing Director of the Cloud Solution Unit and Chief Information Security Officer. His work focused on helping enterprises implement cloud platforms, adopt Zero Trust security frameworks, and deploy generative AI tools. His earlier career includes infrastructure projects with Telcordia Technologies and compliance system collaborations with UN ESCAP. The expansion of local infrastructure aims to support deep collaboration with local ecosystems to drive digital transformation across the market. Mark Micallef “Saruj’s extensive technical background and proven history of helping Thai enterprises accelerate their digital transformation make him a fantastic addition to our team,” said Mark Micallef, Managing Director, Southeast Asia, Google Cloud. Saruj Thipsena “Digital transformation only succeeds when it balances cutting-edge innovation with strict data governance and trust,” said Saruj Thipsena, Country Manager, Thailand, Google Cloud. “I am excited to engage closely with our customers and the broader ecosystem to help Thai organisations accelerate responsible AI adoption and innovate with confidence.”     Featured image credit: Edited by Fintech News Singapore, based on image by Google Cloud The post Google Cloud Appoints Saruj Thipsena as Thailand Country Manager appeared first on Fintech Singapore.

Layoffs at Oracle reduced the company’s workforce by 13% over the past year, cutting headcount by 21,000 as AI and cloud infrastructure spending increased. The scale of the job cuts was reported by Bloomberg based on Oracle’s annual regulatory filing. Oracle had 141,000 full-time employees as of 31 May 2026, down from 162,000 a year earlier. The company said its use of AI across operations had led to workforce reductions and could continue to do so. Oracle also pointed to broader restructuring activity, including changes linked to management, products, strategy, performance and acquisitions. The cuts come as the company spends heavily on AI data centres and cloud capacity for customers such as OpenAI. Oracle has been building more AI computing capacity while trying to manage the cost of that expansion. The company recorded about US$1.8 billion in restructuring costs for the financial year, mainly from severance and other exit expenses. By the end of May, Oracle had about 49,000 employees in the US and 92,000 outside the country.     Featured image: Edited by Fintech News Singapore, based on image by hryshchyshen via Magnific   The post Oracle Layoffs Reduce Headcount by 21,000 During AI Expansion appeared first on Fintech Singapore.

TradeTogether and Pinetree Securities have announced a strategic collaboration to widen institutional access to AI infrastructure investments. TradeTogether is a Singapore-based licensed asset management firm, while Pinetree Securities is a subsidiary of Hanwha Investment & Securities. As part of the strategic collaboration, TradeTogether intends to develop an investment strategy focused on opportunities across the AI infrastructure supply chain. This includes GPU-related infrastructure and data centre ecosystems. The strategy will be accessible through both traditional fund units denominated in fiat currency and a tokenised representation of the same investment interests. This will allow investors to access the same exposure through either conventional or next-generation digital investment rails. TradeTogether also intends to develop the investment framework through Singapore’s regulated VCC structure. Unlike traditional technology investments that primarily provide exposure to listed equities, the investment strategy focuses on the underlying infrastructure powering the AI revolution. GPUs are increasingly recognised as strategic digital assets supporting cloud computing, enterprise AI and large-scale computational workloads, creating a new infrastructure investment theme for institutional capital. The collaboration combines TradeTogether’s expertise in alternative investments and digital infrastructure strategies with Pinetree Securities’ capital markets capabilities and distribution network. It establishes an institutional framework designed to facilitate access to this emerging segment of the global digital economy. Geoff Ira Geoff Ira, Chief Executive Officer of TradeTogether, said, “Artificial intelligence is not only creating new technologies, it is creating a new infrastructure economy. While many investors focus on AI applications, we believe the underlying compute infrastructure will become one of the defining institutional asset classes of the coming decade. Together with Pinetree Securities, we are proud to provide professional investors with access to this long-term structural opportunity.” David Lee David Lee, CEO of Pinetree Securities, commented, “The acceleration of artificial intelligence is fundamentally changing the way digital infrastructure is financed and deployed. As institutional investors increasingly seek exposure to long-term structural trends, GPU infrastructure is emerging as an attractive investment segment supported by strong underlying demand. Our collaboration with TradeTogether combines complementary expertise in asset management and capital markets to deliver innovative institutional solutions within Singapore’s robust regulatory framework. We look forward to supporting the continued development of this rapidly evolving ecosystem.” Both organisations believe that GPU infrastructure is evolving beyond technology hardware into a strategic infrastructure asset supporting the next generation of the global digital economy. Additional announcements regarding ecosystem partnerships and future developments may be made in due course.     Featured image: Edited by Fintech News Singapore, based on image by TradeTogether The post TradeTogether to Develop AI Infrastructure Strategy With Pinetree Securities appeared first on Fintech Singapore.

Aspire has rolled out an MCP integration that brings business finance workflows into the AI tools companies already use. The integration allows Aspire customers to securely access financial information and carry out operational tasks through MCP-compatible AI platforms, including Claude, ChatGPT and others. Through Aspire MCP, businesses can review card spending, check invoice and approval statuses, monitor balances across entities, track budgets and access financial information using natural language. The launch comes as more companies explore how AI can support day-to-day operations. While AI tools are already being used for coding, research and workflow management, financial systems have often remained separate from these tools. The integration works within each user’s existing Aspire permissions and approval settings. Access is governed by the same roles and controls already configured in Aspire, allowing businesses to maintain oversight, security and compliance as they use AI for financial operations. Andrea Baronchelli Andrea Baronchelli, Co-founder and CEO of Aspire, said, “As businesses increasingly run through networks of AI agents, they will need financial infrastructure that AI can securely access and operate within. Aspire is building the banking layer for this new generation of AI-native companies.” The MCP integration is part of Aspire’s wider platform, which brings together regulated financial infrastructure, treasury, payments, cards and enterprise resource planning tools. The integration is available immediately for Aspire customers.     Featured image: Edited by Fintech News Singapore, based on image by FestArt via Magnific The post Aspire Brings Finance Workflows Into AI Platforms With MCP Integration appeared first on Fintech Singapore.

Sea and OpenAI are bringing Shopee into ChatGPT as part of a wider push to expand AI-powered shopping across Southeast Asia and Brazil. The partnership will cover e-commerce features, seller tools, access to OpenAI products and developer engagement through Codex. The Shopee app is now available in ChatGPT for users in Indonesia, Malaysia, the Philippines, Singapore, Thailand, Taiwan, Vietnam and Brazil. Users can discover Shopee products through conversational prompts in ChatGPT, such as asking for gift ideas, fashion suggestions, travel items or specific products, before continuing their purchase on Shopee. Sea and OpenAI have worked together since 2025 through marketing promotions and the ShopeeVIP membership programme. Under the expanded agreement, the companies will introduce ChatGPT for Business to Shopee’s seller ecosystem. Eligible sellers will be offered trials, onboarding resources, training and best-practice guides to help them use AI for product listings, marketing content, customer service workflows and business operations. Forrest Li Sea Chairman and CEO Forrest Li said, “Our strategic partnership with OpenAI reflects a shared commitment to making AI more accessible and meaningful for the communities we serve. By combining OpenAI’s advanced AI capabilities with Sea’s vibrant ecosystem, we hope to deliver more intuitive AI-native experiences for consumers while enabling businesses of all sizes to use AI to grow and stay competitive in the digital economy.” Denise Dresser OpenAI Chief Revenue Officer Denise Dresser said, “By bringing OpenAI’s technology into the products and services people already use, we can make AI more useful and accessible in their everyday lives. This partnership will help more consumers discover new AI-powered experiences, give small businesses practical tools to grow, and enable more people to put AI to work as an operating layer across the company and the broader builder ecosystem.” The partnership will also support Sea’s use of Codex and its engagement with developers.     Featured image: Edited by Fintech News Singapore, based on image by Lanfira via Magnific The post Shopee Users in Southeast Asia, Brazil Can Now Find Products Through ChatGPT appeared first on Fintech Singapore.

Libeara has raised US$14 million in a strategic funding round led by global market maker GSR. The round also included Openspace Capital, Kyobo Life Insurance Group, AlloyX, Monk’s Hill Ventures, Kaia Investment Partners and Simsan Ventures. Libeara said the new investors bring regional distribution and ecosystem support as it expands across different markets. The Singapore-based company will use the funding to support its global expansion and scale its tokenisation infrastructure for regulated digital assets. Libeara works with financial institutions and asset managers to issue and distribute tokenised assets. Aaron Gwak Aaron Gwak, Founder and CEO, Libeara, said, “Bringing in these partners provides us a distinct edge in localising and scaling our infrastructure across diverse markets, making tokenised regulated assets available to more investors globally. This round assembles exactly the right combination of traditional financial markets, technology, and ecosystem reach to build institutional-grade tokenised markets at scale.” Openspace Capital sees tokenised assets as an important part of next-generation financial markets, particularly as institutions look for regulated infrastructure to support digital asset issuance. Kyobo Life Insurance Group has also been increasing its focus on real-world asset tokenisation and digital asset applications across its affiliate businesses in South Korea. Kaia Investment Partners expects growing stablecoin adoption to increase demand for savings, yield and real-world asset products, particularly across Asia.     Featured image: Edited by Fintech News Singapore, based on image by mkmult via Magnific The post Libeara Raises US$14 Million to Expand Tokenisation Infrastructure appeared first on Fintech Singapore.

Meta will invest US$900 million in CRED as the Indian fintech firm’s founder steps into a global leadership role at WhatsApp. Reuters reported that the deal values the Bengaluru-based startup at US$4.5 billion and gives Meta a minority stake in the company. Kunal Shah, who founded CRED in 2018, will become WhatsApp’s global head. He succeeds Will Cathcart, who is taking up a new role inside Meta after seven years running the messaging service. The move places a prominent Indian startup founder in charge of one of Meta’s most important global products. India is WhatsApp’s largest market, with more than 500 million users, and has become a key market for its payments and business services push. For Meta, the CRED deal is one of its largest fintech investments in India. The latest valuation is higher than the US$3.5 billion level from its 2025 funding round, but still below the US$6.4 billion valuation it reached in 2022. CRED Prepares for Next Phase The Indian company noted that Meta will not have access to its customer data through the investment. Founded in 2018, CRED began as a members-only platform for consumers with strong credit profiles. It has since moved into payments, lending, insurance, wealth management and lifestyle services. The company says it serves 17 million members each month, processes more than 40% of India’s credit card bill payments and manages over 240 billion rupees, or about US$2.5 billion, in lending assets for partner financial institutions. The fresh funding will be used to support growth, strengthen leadership and expand across more product categories. Miten Sampat, who has led strategy and finance at CRED since 2020, has been appointed interim CEO.     Featured image: Edited by Fintech News Singapore, based on image by freepik via Magnific   The post Meta Invests US$900M in CRED, Founder Kunal Shah Takes WhatsApp Role appeared first on Fintech Singapore.

Although artificial intelligence (AI) is seeing widespread adoption, many companies fail to see significant improvements and gains. According to a new blog post by partners at Bain and Company and researchers at OpenAI, this primarily stems from the gap between experimentation, where AI tools are tried out in isolated pilots, and transformation, where AI is deeply embedded into business strategies. These experts highlight the so-called “micro-productivity trap”, where companies often treat AI like a plug-and-play software-as-a-service (SaaS) investment with isolated use cases and scattershot pilots. They use AI either to optimize existing offerings or to automate current processes without rethinking them, or both. While this may lead to some productivity improvements on key tasks, these gains often stall at the firm level when workflows still depend on tacit knowledge manual handoffs, or legacy systems not built for AI. In contrast, firms that are successful with their AI transformation take an organization-wide, future-focused perspective. Instead of optimizing current offerings, they center on what outcomes their processes serve and rebuild workflows around the reality that powerful AI tools now exist and must drive efficiency. These firms are seeing clear success metrics, with Bain reporting that some of its clients have experienced between solid EBITDA gains of 10% to 25%, which continue to increase as the programs scale. EBITDA measures a company’s operating profitability and shows how much it earns from its core business. To help organizations attain significant improvements and gains from AI, the authors highlight the four steps that these successful companies followed in their AI implementations. Narrowing possibilities strategically These companies resisted the urge to spread AI everywhere without real and specific outcomes in mind, identifying instead four or five critical domains and concentrating their transformation efforts there. Software development, customer support, knowledge worker efficiency, and marketing are consistently in the top four domains for AI use cases across Bain’s client work. At one Fortune 100 manufacturing company supported by the firm, an analysis of key operational pain points across sales, engineering, and manufacturing identified 14 discrete AI use cases representing tens of millions of dollars in aggregate potential value. By focusing on a small subset of potential use cases, the firm is now on track to realize about US$30 million in additional profit, Bain claims. Reimagining workflows across the organization While redesign is the most challenging part of AI deployment, it also generates the most value. Success here begins by understanding current workflows across the company for the chosen strategic priority and determining how time is spent in that area, and by whom. This helps select the most fruitful opportunities from those identified, and ensure that the value is realized across the business. From the broader set of opportunities identified, the organization should shortlist two use cases to reimagine end-to-end, prioritizing areas where manual effort, cycle time, and downstream costs are the most acute. For example, the Fortune 100 manufacturing company transformed its quoting process after realizing that design engineers were wasting hours creating full, detailed designs for early-stage bids that often failed to convert. To solve this, the company reimagined the workflow to separate low-probability bids from high-probability ones. A rapid, 20-minute cost estimate is now completed by non-designers for early-stage bids, allowing full engineered designs to be reserved for higher-probability opportunities. This shift reduces wasted effort while improving speed, focus, and overall bid economics, delivering a quote generation time roughly 15 times faster than the prior process. Engaging those closest to today’s process to lead change Redesigning processes requires close collaboration with leaders across seniority levels who understand the daily workflow and are committed to the AI transformation. Individual contributors who excel in their domains are equally critical for deeply understanding current operations. Another way to engage employees is through nurturing a culture of prototyping. This approach increases the velocity of iteration cycles and allows for bottom-up innovations to arise. It also helps alleviate potentially skeptical, anxious, or disengaged team members as they see what’s possible and what’s not, and where value in the organization will come from in the future. Lowe’s, a home improvement retailer who worked with OpenAI, run targeted store pilots of Mylow Companion with store associates to gather feedback from real-world usage. They began with one or two departments within each store, engaging store associates through in-app and on-floor feedback mechanisms to refine prompts, AI guardrails, and user experience, and then slowly expanding the testing across additional departments and stores. Through that process, Mylow Companion has been fully deployed across over 1,700 Lowe’s stores. Mylow Companion is an employee-facing AI tool for customer service and employee onboarding. Selecting the right measures of success Finally, the last step highlighted in the post involves selecting the right metrics to track. These metrics should be tied to key business outcomes and allow for comparisons with non-AI methods. For example, the Fortune 100 manufacturing company supported by Bain evaluated its redesigned workflows primarily through the lens of customer responsiveness and market differentiation. For this, it relied on win rates for AI-generated quotes versus non-AI quotes, quote turnaround times, margins on downstream material and factory costs, and the volume and accuracy of priced bids. Additionally, the authors note that AI systems require new forms of sustained measurement. This evaluation suite should measure a system’s output against an acceptable range of desired behaviors, defined by clear expectations and appropriate tolerance levels. To evaluate its system, Lowe’s engaged subject matter experts to create a set of prompts and expert-validated responses for how Mylow Companion should reply to typical questions posed by an associate. They evaluated how various models performed against the validated responses and fine-tuned their prompting to improve system performance. To measure outcomes, the firm chose to track drivers of business results, such as basket size, conversation rate, and incremental sales, as well as key drivers of success such as associate knowledge, customer satisfaction, and ease of check-out. It observed that when customers engaged with Mylow during their online visits, the conversion rate more than doubled, and customer satisfaction scores increased 200 basis points when associates used Mylow Companion to help customers shopping in the aisle. AI in the enterprise Though AI adoption in the enterprise is surging, only a handful of firms are seeing real improvements. A 2025 study by Boston Consulting Group (BCG) of more than 1,250 firms worldwide found that only 5% of the organizations polled have actually achieved AI value at scale. These so-called “future-built companies” generated 1.7 times more revenue growth and 1.6 times higher EBIT margins than their peers, underscoring the potential of AI. At one large multiformat retailer in particular, BCG said that their AI portfolio of initiatives had produced cost, margin, and revenue impact of hundreds of millions of dollars over the past five years, adding more than 10% to the company EBITDA. Conversely, at the other end of the spectrum, 60% of companies reported achieving no material value at all, noting minimal revenue and cost gains despite substantial investment. Another 35%, or 13 points more than in 2024, were scaling up their efforts and seeing some returns, but many of them admitted that they were not moving far enough or fast enough. Stages of AI adoption in the enterprise, Source: BCG Build for the Future 2025 Global Study, Boston Consulting Group, Sep 2025 At the time, organizations are embracing AI at an unprecedented pace. A McKinsey survey found that 88% of the 1,993 organizations it polled in 2025 used AI regularly in at least one business function, compared with 78% in 2024. Organizations that use AI in at least one business function, Source: McKinsey and Company, Nov 2025   Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Magnific The post Despite Soaring Adoption, AI Still Fails to Deliver Real Gains at Most Organizations appeared first on Fintech Singapore.

Global payments company Payfuture is partnering with Atlantic Partners Asia (APA) to expand cross-border payment capabilities into emerging markets. The collaboration allows internationally active businesses to move funds into fast-growing economies efficiently. Through a single integration, APA clients can now access the local payment infrastructure of Payfuture. This removes the need for businesses to establish and manage their own complex local banking relationships when entering new territories. Navigating local regulatory requirements and settlement networks can present significant hurdles for international expansion. The partnership combines the commercial reach of APA with the established local market knowledge of Payfuture to create a dependable route for fund transfers. Manpreet Haer “Our infrastructure is built to move funds into these regions reliably and at scale, and through this partnership we are helping APA’s clients reach them with confidence,” said Manpreet Haer, CEO and Co-founder, Payfuture. Tobias Billingham, Head of Sales and Distribution at APA, said: Tobias Billingham “Our clients are increasingly looking to move funds into high-growth emerging markets, and they expect those payments to be fast, secure and compliant.”       Featured image credit: Edited by Fintech News Singapore, based on image by dit26978 via Magnific The post Payfuture and APA Enable Cross-Border Payments Into Emerging Markets appeared first on Fintech Singapore.

SaaScada is establishing a Singapore hub to grow its core banking modernisation business across Asia Pacific. CEO and Co-Founder Nelson Wootton will relocate to Singapore to lead the expansion. The office will support sales, partnerships and customer support across the region. The move follows rising demand from banks and financial institutions looking to upgrade legacy core systems without full replacement projects. SaaScada’s cloud-native platform allows institutions to launch and update banking products through API-led integrations. It also captures transaction data in real time for reporting, customer insight and future AI use cases. Nelson Wootton Nelson Wootton, CEO and Co-Founder of SaaScada, said, “Opening our Singapore office, and relocating to lead it myself, reflects just how serious we are about the opportunity across APAC. This is a region defined by ambition, pace, and digital adoption, but many institutions are being held back by core systems that make change slow, expensive and risky. The market is ready for a more flexible model of modernisation that allows banks to launch, iterate and scale without being locked into a rigid architecture.”     Featured image: Edited by Fintech News Singapore, based on image by FreeWhaleMedia via Magnific The post SaaScada Picks Singapore as APAC Base for Core Banking Push appeared first on Fintech Singapore.

Potential buyers are reviewing a stake of up to 50% in Vietnam’s MoMo, in a deal that could reshape the fintech company’s investor base, according to DealStreetAsia. Blackstone and MUFG are among five investors looking at MoMo, DealStreetAsia reported, citing people familiar with the matter. Morgan Stanley and Jefferies are advising on the process, according to the report. The talks remain at the due diligence stage, and a deal may still not materialise. If completed, the transaction could give some long-time backers a chance to cash out part of their holdings. MoMo’s reported investors include Warburg Pincus and Goodwater Capital, which co-led its Series D round in 2021. Other backers include Kora Management, Tybourne Capital Management, Affirma Capital, Macquarie Capital, Mizuho Bank and Goldman Sachs. Warburg Pincus held 26% of MoMo, while Augusta Investments I Pte Ltd owned more than 13%. Mizuho Bank, which joined through the company’s Series E round, held 7.3% by the end of 2025. Deal Talks Follow MoMo’s Profit Turnaround MoMo raised US$200 million in 2021 from investors led by Mizuho Bank, lifting its valuation above US$2 billion. The company started as an e-wallet and has since expanded into a broader financial app covering payments, investment, insurance and money management. It serves more than 30 million users and has been repositioning itself around AI-powered financial tools. DealStreetAsia previously reported that MoMo moved into full-year profitability in 2024, with net profit of 347.5 billion dong, or about US$13.4 million. The company had recorded a loss a year earlier and remained profitable in 2025, according to a document seen by the publication. Blackstone, MoMo and Warburg Pincus declined to comment to DealStreetAsia, while MUFG did not respond to its request for comment.     Featured image: Edited by Fintech News Singapore, based on image by riggle0611 via Magnific The post Vietnam’s MoMo Draws Investor Interest in Possible 50% Stake Sale appeared first on Fintech Singapore.

Databricks plans to increase its Singapore headcount by up to 50% over the next year to support the rollout of new enterprise AI products, according to a report by The Business Times. The company currently employs over 250 people in Singapore, which serves as its headquarters for the Asia Pacific and Japan region. Out of a regional workforce of more than 1,500 employees, Databricks is actively hiring for more than 50 new roles locally across sales, engineering, and marketing. To accommodate this growth, the privately held startup will move into a 32,000 square foot office at IOI Central Boulevard Towers later this year. This physical expansion will quadruple its existing workspace in the Republic. Targeting hybrid engineering roles A major focus for the recruitment drive is hiring forward deployed engineers. These hybrid roles combine technical expertise with customer facing responsibilities to help clients customise systems for specific business problems. Earlier this year, the company partnered with the Infocomm Media Development Authority to upskill more than 10,000 people over three years through data and artificial intelligence courses. New tools for enterprise governance The expansion follows the company’s recent Data and AI Summit in San Francisco, where it introduced new products to help enterprises deploy and govern systems more efficiently. Databricks announced Omnigent, an open source interface for managing different agents, alongside Unity AI Gateway. The gateway serves as a control layer that lets companies manage how models are accessed, monitored, and paid for. These launches address growing enterprise concerns over the rising costs of advanced models, which typically charge based on the volume of text tokens processed. Arsalan Tavakoli-Shiraji, Senior Vice President of Field Engineering and co-founder, told Business Times that the new products help users route queries to the right model based on task complexity. He noted that simple tasks such as drafting emails do not always require the most expensive models. The tools also support a shift towards model agnostic systems to reduce reliance on any single provider. This flexibility helps insulate companies from sudden platform changes, such as Anthropic recently suspending access to certain advanced models for foreign nationals due to US government orders.     Featured image credit: Edited by Fintech News Singapore, based on image by zetrum via Magnific The post Databricks to Expand Singapore Team by Up to 50% on AI Demand Growth appeared first on Fintech Singapore.

Temasek has named Mapletree Investments’ Wendy Koh as its next Chief Financial Officer (CFO), effective 1 October 2026. Koh will first join Temasek as CFO-designate on 1 August 2026 before taking over the role two months later. She is currently Group CFO at Mapletree Investments and has more than 30 years of experience across finance, capital markets and corporate strategy. Temasek said her experience will support its focus on disciplined capital management and long-term value creation. As part of the transition, Png Chin Yee will step down from her concurrent role as CFO on 1 October 2026. She will continue as President of Temasek Singapore, where she oversees the firm’s Singapore-based portfolio companies. Her role covers portfolio performance, value creation and long-term returns across Temasek’s Singapore holdings.     Featured image: Edited by Fintech News Singapore, based on image by brilian via Magnific The post Temasek Announces CFO Transition With Wendy Koh Appointment appeared first on Fintech Singapore.

Finastra is selling its Universal Banking business to Pollen Street Capital as it narrows its focus on payments and lending. Financial terms were not disclosed. The deal follows Finastra’s recent sale of its US Mid-Market banking business to CORA Group, which covered core banking, digital banking and analytics products. Universal Banking provides core banking software for account and deposit management, payments, lending and treasury operations. It serves more than 150 customers in over 100 countries, including global and regional banks, digital banks, Islamic banks and building societies. Its main platform, Essence, is a cloud-first open banking platform used by financial institutions to modernise legacy systems and support digital banking services. Pollen Street’s investment will support Universal Banking as it becomes a standalone business, with funding expected to go towards product development, data and GenAI capabilities, and customer delivery. Chris Walters Finastra CEO Chris Walters said, “Universal Banking is a strong business with talented people, proven products, and deep customer relationships. Under Pollen Street Capital, it will have the dedicated focus and investment to build on that strength. For Finastra, this allows us to sharpen our focus on payments and lending—areas where we see significant opportunities to grow and deliver even greater value for our customers.” Anastasia Kovaleva Anastasia Kovaleva, Partner at Pollen Street, said, “UB is a high-quality business with a strong foundation, longstanding customer relationships, and a modern platform delivering tangible transformation outcomes. The business is well positioned for future growth in the next phase of core banking evolution. We are excited to partner with the management team to support the next phase of the company’s development, invest in AI-led innovation and help customers accelerate their modernization journeys.” After completion, Universal Banking will operate as an independent business led by its existing management team. The acquisition is subject to customary regulatory approvals.     Featured image: Edited by Fintech News Singapore, based on image by viktoryvisuals via Magnific The post Finastra Lines Up Second Banking Software Sale With Universal Banking Deal appeared first on Fintech Singapore.

Bybit is reportedly seeking clarity from the Monetary Authority of Singapore (MAS) after the regulator placed the crypto exchange on its Investor Alert List. The MAS entry, dated 17 June 2026, does not state the reason for Bybit’s inclusion. MAS’ Investor Alert List identifies entities that may have been wrongly perceived as licensed, authorised or regulated by the authority, or whose products may have been mistaken as authorised, recognised or registered by MAS. The list is not exhaustive and reflects information available to MAS at the time of publication. Bybit stated in a post on X that it is aware of its inclusion on the list and is engaging MAS to better understand the basis for the listing. The company added that it has maintained measures to prevent access by Singapore users, including restrictions in its Terms of Service and geo-blocking of Singapore IP addresses. “Bybit does not offer services to users in Singapore. Bybit remains committed to working collaboratively with regulators around the world. We will provide further updates as appropriate.” Bybit is said to be the world’s second-largest cryptocurrency exchange by trading volume, serving more than 80 million users. Bybit is aware that Bybit Fintech Limited has been included on the Monetary Authority of Singapore’s (MAS) Investor Alert List and is engaging MAS to better understand the basis for this listing. Bybit has consistently engaged openly and constructively with MAS and has been… — Bybit (@Bybit_Official) June 18, 2026   Featured image: Edited by Fintech News Singapore, based on image by pvproductions via Magnific The post Bybit Claims It Does Not Serve Singapore Users After MAS Investor Alert Listing appeared first on Fintech Singapore.

Australia’s virtual asset sector is running out of time to meet incoming compliance requirements. From 1 July 2026, the AUSTRAC Tranche 2 reforms extend Australia’s anti-money laundering and counter-terrorism financing compliance requirements to a wider range of virtual asset services. This includes replacing the concept of “digital currency” with a broader “virtual asset” definition, defined under the AML/CTF Amendment Act 2024. The reforms will very soon apply to crypto-to-crypto exchanges, custodial wallet services, virtual asset transfers, and related financial services. Affected virtual asset service providers, therefore, have weeks to meet the obligations that come with the change, if they haven’t already done so. The reforms are substantial, as they direct who must register with AUSTRAC, how businesses assess and monitor risk, and what they should report and retain. Existing digital currency exchanges cannot assume that their current registration covers the newly regulated services either, and offering a designated service, minus the right registration in place, is tantamount to a criminal offence. With the deadline encroaching, it is a top priority for the affected firms to get a clear view of what AUSTRAC Tranche 2 requires and the quickest route to meet compliance. What do virtual asset service providers need to know? Everything You Need to Know About AUSTRAC Tranche 2 Australia builds its oversight of virtual asset businesses through the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, which the financial intelligence agency AUSTRAC administers. From 1 July 2026, the Tranche 2 reforms pull a wider range of virtual asset services into the regulated net and rework how providers report and monitor activity. How to Quickly Comply With AUSTRAC Tranche 2 With the 1 July 2026 deadline only weeks away, most virtual asset service providers have likely cleared the first two stages of compliance: mapping their designated services, preparing AUSTRAC enrolment details, running enterprise risk assessments, and drafting policies proportionate to those risks. What is next is the third stage, involving implementation and training. Source: Sumsub Stage Three: Implement and Train At this stage, the virtual asset service provider has to build and switch on the systems that screen customers against sanctions lists, monitor transactions for unusual activity, identify which relationships carry higher risk, and escalate alerts for investigation as they surface. Onboarding comes first to verify each customer’s identity, be it individuals or businesses. Higher-risk cases, such as a politically exposed person or businesses tied to a high-risk jurisdiction, may require source-of-funds information and senior management sign-off before the relationship goes ahead. The same systems carry another duty. The crypto service provider must collect and transmit originator and beneficiary information whenever the provider sends virtual assets to another regulated provider. The obligation mirrors FATF Recommendation 16, known as the crypto Travel Rule. Notably, AUSTRAC does not mandate any particular technology. A control can be automated or manual, so long as it stays proportionate to the risks the business faces. While many providers lean on blockchain analysis tools to support monitoring, the law cares about outcomes rather than any named software. Two governance steps complete the stage. The provider appoints a designated compliance officer at the management level to own AML/CTF compliance and act as the liaison with AUSTRAC, a role that needs real authority, access to information and organisational independence. It then trains staff so the controls hold up day to day. Making the right call in your verification and monitoring partner is imperative. Sanctions lists shift, transaction volumes climb, customer risk profiles change, and travel rule information has to move reliably between counterparties. A partner that brings onboarding, screening, transaction monitoring and case escalation into one connected workflow lets you keep your AML/CTF controls consistent as the business scales. The Travel Rule Is the Hardest Part to Operationalise The Travel Rule is possibly where most providers find the implementation gap widest. Two issues take prime focus space: interoperability and unhosted wallets. Travel Rule Interoperability Needs Firstly, Travel Rule may be global in principle, but is fragmented in practice. AUSTRAC, for example, sets the obligation to exchange originator and beneficiary data without mandating how that data should move. The result is a patchwork of competing protocols, none universally adopted, and a “sunrise” problem in which jurisdictions switch on their rules at different times. Source: Sumsub When a sending and receiving provider sits on incompatible systems, the transfer stalls or fails outright, which can lead to a compliance breach. The workable answer is protocol-agnostic coverage. Sumsub, for one, aggregates the major Travel Rule protocols like Code, GTR, Sygna, TRP and its own across a network of 2,100+ VASPs, with a secure email fallback for counterparties that cannot otherwise be reached. Unhosted Wallets Verification The next challenge involves unhosted wallets. FATF asks providers to distinguish between hosted wallets, managed by a third party such as an exchange, and unhosted wallets, controlled directly by the holder. For transfers to an unhosted wallet, the originating VASP may not be required to transmit data onward, but it is still expected to collect, verify and run the necessary checks, which means establishing who actually controls the wallet. That is trickier, since the counterparty has passed no KYC and answers to no custodian. The ideal fix is to ask the holder to prove control: either by signing the transaction with their private key, or by sending a token microtransaction, called the Satoshi test, from the unhosted wallet in question. Source: Sumsub Beyond satisfying the Travel Rule itself, by verifying unhosted wallets, a virtual asset service provider can demonstrate control over even its hardest-to-trace transfers. This, in turn, reduces its exposure risk to fraud and signals to customers that the platform takes the integrity of their funds seriously. How to Pick the Ideal Verification Partner Source: Sumsub With a short window of time left, many VASP firms can still meet the deadline by quickly selecting a verification partner. Choosing a verification partner is critical, as they will sit across onboarding, monitoring, and reporting with you. The strongest candidates pair smooth, user-friendly onboarding with AI-driven transaction monitoring, backed by comprehensive regulatory experience in crypto know-your-customer (KYC) compliance. Look for a partner that supports the travel rule and offers a full-cycle verification platform, spanning the entire customer lifecycle from onboarding to monitoring and reporting. Demonstrated familiarity with FATF guidance is another strong signal, as is a clear grasp of the risks specific to the crypto space. Eugene Choo, Senior Business Development Manager, Sumsub, said during the webinar: Eugene Choo Many believe that addressing Tranche 2 requires a highly specialised, elusive solution. In reality, Tranche 2 is an extension of existing AUSTRAC mandates. For compliance providers familiar in this space, this isn’t uncharted territory—it’s a continuation of the infrastructure we’ve always provided. Our platform is built to seamlessly adapt the moment regulators revise their standards. Sumsub is built around this full-cycle model, and that too at scale. Its platform supports global onboarding across more than 14,000 document types in over 50 languages, then adapts to risks, regulations, and market demands, such as AUSTRAC Tranche 2. More than 4000+ companies worldwide rely on Sumsub’s technical expertise, including global fintech companies like Reap, payment infrastructure providers like BVNK, and the Interpol. For a practical walkthrough of preparing ahead of the 1 July deadline, sign up for Sumsub’s on-demand AUSTRAC Tranche 2 webinar. If you prefer to move right away, book a demo with Sumsub to start building your compliance setup today. Featured image edited by Fintech News Singapore based on an image by f11photo on Magnific The post With 2 Weeks Left, Here’s What Crypto Firms Must Do Before AUSTRAC Tranche 2 Hits appeared first on Fintech Singapore.

AWS has launched its first Local Zone in Hanoi, marking its initial infrastructure deployment in Vietnam to support data residency and low-latency cloud computing. The new facility allows organisations in highly regulated sectors, such as banking, fintech, and healthcare, to store and process data locally. This infrastructure helps enterprises comply with domestic data localisation requirements while reducing the operational burden of maintaining private servers. The Hanoi deployment offers single-digit millisecond latency, which supports applications requiring real-time responsiveness. This capability benefits financial services executing high-frequency trades, as well as gaming and live-streaming companies operating real-time digital platforms. Jeff Johnson “The AWS Local Zone in Hanoi puts world-class compute and storage where it matters most: closer to their customers, making sure Vietnamese organisations have what they need to build, scale, and compete without compromise,” said Jeff Johnson, Managing Director, ASEAN, AWS. The launch is part of the global network expansion from AWS, offering a local connection point that links Vietnamese enterprises to the global cloud network. For regional fintechs and financial institutions operating across Southeast Asia, the facility provides a standardised environment to deploy workloads across borders using identical APIs and management tools. Deputy Minister Pham Duc Long, Ministry of Science and Technology (MOST), said, Pham Duc Long “The launch of the AWS Local Zone in Hanoi, Vietnam will provide a low-latency, secure cloud computing platform and contribute to supporting Vietnamese businesses’ technology needs.” The facility provides access to core cloud services, including compute-optimized and memory-optimized Amazon Elastic Compute Cloud (Amazon EC2) instances. It is also among the first globally to offer localised object storage through Amazon Simple Storage Service (Amazon S3) and local snapshot capabilities via Amazon Elastic Block Store (Amazon EBS). Several Vietnamese digital platforms and financial institutions have already integrated the infrastructure into their operations. These include commercial banks such as VIB, VPBank, and Techcombank, fintech developers like Trusting Social, and green mobility networks such as Green SM. AWS operates the Hanoi facility on an on-demand, pay-as-you-go model, removing the requirement for upfront capital investments or long-term infrastructure contracts.     Featured image credit: Edited by Fintech News Singapore, based on image by Graphython (KB) via Magnific The post AWS Introduces Hanoi Local Zone for Low-Latency Cloud Services appeared first on Fintech Singapore.

Thailand’s first virtual bank Clicx has launched with a 4% savings promotion for customers opening accounts through its app. According to the Bangkok Post, the rate is offered through the Clicx Save Max 4% pocket, which is available to Clicx Save account holders. The promotion runs for three months from the bank’s 19 June launch. It covers deposits of up to 20,000 baht, while balances above that earn 0.5% per year. Each customer may open one Clicx Save Max 4% pocket, in line with Bank of Thailand requirements. Clicx was established by Krungthai Bank, Advanced Info Service and PTT Oil and Retail Business. It received its virtual bank licence in May. Kanjana Chockpisansin, head of banking and finance research at Kasikorn Research Center, said virtual banks usually start with savings and investment products before expanding into other services. She added that these products often use capped balances and limited promotional periods, while targeting underserved and unserved customers under the central bank’s framework. Clicx uses digital identity checks and transaction monitoring to help protect customer accounts. It may investigate or suspend transactions if risks are detected. The bank also noted that depositors receive protection under the same standards applied to commercial bank customers. Clicx plans to add Clicx Ready Credit, a digital lending service.     Featured image: Edited by Fintech News Singapore, based on images by Rashed_stock via Magnific and Clicx   The post Thailand’s First Virtual Bank Clicx Launches With 4% Savings Offer appeared first on Fintech Singapore.