Google has launched a new open standard to support agent-led shopping across search and chat platforms as Ant International joins the initiative. The Universal Commerce Protocol is designed to let AI agents, retailers and commerce systems work together across the shopping journey. It aims to reduce the need for custom integrations across discovery, checkout and post-purchase support. It is compatible with existing standards including Agent2Agent, Agent Payments Protocol and Model Context Protocol. The protocol was developed with companies such as Shopify, Etsy, Wayfair, Target and Walmart, and has been endorsed by more than 20 others including Visa, Mastercard, Stripe, Adyen, The Home Depot, Best Buy, Flipkart, Macy’s and American Express. Support of the Universal Commerce Protocol from across the ecosystem. Jiang-Ming Yang “Ant International is thrilled to deepen our collaboration with Google and support the Agentic Commerce ecosystem. By leveraging our leading payment capabilities, Ant International is creating unique agentic commerce solutions for merchants by delivering merchant friendly, seamless user experience and end-to-end trust, ultimately driving business growth,” said Jiang-Ming Yang, Chief Innovation Officer, Ant International. Google said the protocol will enable a new checkout experience on eligible product listings in AI Mode in Search and the Gemini app in the United States. Shoppers will be able to complete purchases using Google Pay with payment and delivery details stored in Google Wallet, with PayPal support expected later. https://fintechnews.sg/wp-content/uploads/2026/01/checkout-feature.mp4 Retailers will remain the seller of record and can tailor the integration to their systems. Ashish Gupta “For agentic commerce to scale, it’s critical for the industry to align on a common set of standards. We are proud to have Ant International endorse the Universal Commerce Protocol as the foundation for that future,” said Ashish Gupta, VP/GM, Merchant Shopping, Google. Google is also launching Business Agent, a branded AI assistant that allows shoppers to interact with retailers through Search. The feature is going live in the United States with Lowe’s, Michael’s, Poshmark and Reebok, and can be managed through Merchant Center. In addition, Google is adding new data attributes in Merchant Center to improve product discovery across conversational shopping surfaces such as AI Mode, Gemini and Business Agent. Google is also testing a new advertising format called Direct Offers, which allows advertisers to present discounts within AI Mode when a shopper is deemed ready to buy. The pilot currently focuses on price discounts, with plans to expand to bundles and free shipping.     Featured image: Edited by Fintech News Singapore, based on image by ilygraphic via Freepik The post Google Introduces New Protocol to Standardise Agentic Shopping appeared first on Fintech Singapore.

Companies seeking a simultaneous listing on SGX and Nasdaq may soon face fewer regulatory hurdles under proposals that the Monetary Authority of Singapore (MAS) is consulting on. MAS has opened a public consultation on amendments to the Securities and Futures Act 2001 and related draft regulations. The changes are intended to support the upcoming Global Listing Board, announced in November to enable dual listings on SGX and Nasdaq for companies with a market capitalisation of S$2 billion and above. The proposals would allow issuers to use a single prospectus for offerings in Singapore and the United States by requiring the local document to include information already required for US listings. MAS is also proposing to shorten the registration process in Singapore to better align IPO timelines in both markets. The draft regulations introduce safe harbour provisions reflecting US market practices, covering forward-looking statements, share buybacks and pre-determined trades, subject to specific conditions. These provisions do not provide a defence in cases involving fraud or dishonesty. MAS said the amendments would give it flexibility to extend a similar framework to other jurisdictions if their disclosure standards are aligned with international benchmarks set by the International Organization of Securities Commissions. The regulator is also proposing to let issuers engage retail investors earlier in the IPO process to support bookbuilding and give investors more time to assess offerings. For Global Listing Board issuers, this would allow retail engagement in Singapore and the United States to take place at the same time. MAS and SGX will make the final decision on all listings and prospectus registrations. The regulator said it will continue to work with relevant authorities to act against disclosure breaches and market misconduct in Singapore. SGX RegCo has issued a separate consultation on the Global Listing Board listing rules. Feedback on both consultations can be submitted via FormSG by 8 February 2026.     Featured image: Edited by Fintech News Singapore/Malaysia, based on image by MAS The post MAS Proposes Regulatory Changes to Simplify SGX-Nasdaq Dual Listings appeared first on Fintech Singapore.

MariBank now offers physical gold investing from S$1 through its new Mari Invest Gold product. The service gives customers access to the LionGlobal Singapore Physical Gold Fund via a new unit class exclusive to MariBank users. According to MariBank, it is the first digital bank in Singapore to offer access to a physical gold fund. The product is offered through Class MariBank SGD Hedged (Acc) and is managed by Lion Global Investors. Standard Chartered Bank Singapore serves as the fund’s custodian and ensures the secure storage of the physical gold holdings. The fund invests in physical gold bars with a minimum purity of 99.5 percent that are stored in secure vaults in Singapore and tracks the London Bullion Market Association Gold Price AM benchmark. Mari Invest Gold adds to MariBank’s Mari Invest range launched in 2023, which also includes Mari Invest SavePlus and Mari Invest Income. The bank said around 30 percent of its customers have taken up at least one investment product. Both Mari Invest SavePlus and Mari Invest Income have recorded steady growth in user sign-ups and investment amounts. Natalia Goh “MariBank continues to identify new ways to meet our customers’ evolving financial needs. Our latest partnership with Lion Global Investors to launch Mari Invest Gold extends the timeless appeal of gold to a new generation of digital investors. Together with Mari Invest SavePlus and Mari Invest Income, they form a comprehensive suite of investment products designed for everyone— from first timers to experienced investors,” said Natalia Goh, Chief Executive Officer of MariBank.     Featured image: Edited by Fintech News Singapore, based on image by RSplaneta via Freepik   The post MariBank Launches Physical Gold Investment Option From S$1 appeared first on Fintech Singapore.

Though cash remains the dominant payment method for tourists in Thailand, cashless options are gaining traction due to their convenience, accessibility, and flexibility, according to a new paper by the Bank of Thailand (BOT) and Visa Thailand. Released in December 2025, the paper shares key insights into the payment trends of international tourists in Thailand. It highlights the growing adoption of cashless transactions, emphasizing the rapid rise of inbound cross-border QR payment. Cross-border QR payment, a relatively recent addition to Thailand’s payment landscape, was first introduced in 2018 through linkage with Japan before expanding to other countries across Asia-Pacific (APAC), including most of Southeast Asia’s biggest economies, and Hong Kong. Mainland China joined most recently in October 2025, through linkages with the country’s card payment network UnionPay, as well as fintech platforms Alipay and WeChat Pay. This payment method relies on linking PromptPay, Thailand’s real-time retail payment system, with those of partner countries. It allows a foreign visitor to scan a Thai merchant’s PromptPay QR code to initiate a payment through the user’s home banking or e-wallet app. The fund is then automatically converted from the payer’s currency to the merchant’s local currency using agreed foreign exchange (FX) rates, and the transaction is settled through linked banks and central bank-supported clearing arrangements. Overview of Thailand’s cross-border payment linkages, Source: Bank of Thailand, Dec 2025 In Thailand, cross-border QR payments have seen strong adoption. In 2024, inbound cross-border QR payments totaled nearly THB 2.5 billion (US$80 million). This figure is particularly noteworthy considering that countries with QR payment linkages accounted for only 29% of Thailand’s total tourist arrivals, underscoring both the strong adoption rate and growth potential of this payment method among international visitors. Among the nine countries whose residents can use domestic payment systems for QR payments in Thailand, Malaysian tourists were the largest users in 2024, accounting for 44% of all inbound cross-border QR payments by value. Indonesia followed with a 15%, Laos with 11%, and Cambodia and Hong Kong with 9% each. Inbound cross-border QR payment breakdown by countries (Y2024, % value), Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025 E-money was another popular payment method among tourists coming to Thailand in 2024, reaching a transaction value of THB 34 billion (US$1.1 billion). However, this market remained concentrated among a few key players primarily serving Chinese tourists, presenting both challenges and opportunities for e-money providers. Card payments also continued to grow significantly. In 2024, card transactions reached a new record of THB 327 billion (US$10 billion) in value and recorded 100 million transactions, marking a 19% YoY increase in value and a 22% YoY increase in volume. Inbound cards payment value and number of transactions, Y2019-2024, billion THB and million transactions, Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025 The paper also looks at payment preferences by the country tourists come from, and found that Malaysians, Indians, and South Koreans have a strong preference for card payments. An analysis of Visa card usage among South Korean tourists revealed a clear inclination toward card payments over cash withdrawals. In 2024, 95% of Visa cardholders from South Korea used their cards primarily for payments in Thailand. Only a small segment, 2%, solely used their cards for cash withdrawals, while 3% utilized them for both card payments and withdrawals. Similarly, 87% of Malaysian cardholders used their cards exclusively for purchases in 2024, while 13% made cash withdrawals either exclusively or alongside card payments. Indian tourists displayed comparable behavior, with 71% of accounts utilizing their Visa cards exclusively for payments, while 14% relied on their card solely for cash withdrawals. Cash remains top payment method Though cashless transactions are growing in prominence among tourists visiting Thailand, cash remains the top payment method. In 2024, tourists withdrew THB 160 billion (US$5.1 billion) from local ATMs, while THB 1,107 billion (US$35 billion) worth of foreign currencies was exchanged within Thailand and overseas prior to arrivals. These figures gave cash a share of 78% of total transaction value by tourists visiting the country in 2024, positioning it as the unrivaled leading payment method for foreign visitors, far ahead of cards (20%), e-money (2%), and cross-border QR payments (0.2%). These findings highlight the continued reliance on cash likely due to its widespread acceptance and the limited availability of digital payment options among small businesses across Thailand. Payment methods among tourists in Thailand, Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025 Thailand’s tourism industry has made a remarkable recovery since COVID-19. In 2024, the country welcomed 35.5 million international tourists. Although this figure remains below pre-pandemic levels, it represents nevertheless more than a threefold increase compared to 2022. In 2024, tourism generated revenue of THB 1.7 trillion (US$54.2 billion), contributing approximately 9% of the overall country’s GDP. Number of international tourists in Thailand, Source: Data-Driven Insights into Tourist Payment Behaviours, Bank of Thailand and Visa Thailand, Dec 2025   Featured image: Edited by Fintech News Singapore, based on images by Frolopiaton Palm, EyeEm and pakorn1981 via Freepik The post Top Payment Trends Among Tourists Visiting Thailand appeared first on Fintech Singapore.

Fireblocks has announced the acquisition of TRES Finance, a specialist in crypto accounting, reconciliation, and financial controls. The move aims to integrate financial intelligence directly into digital asset operations. Michael Shaulov “Over seven years ago, the digital asset industry’s biggest gap was security. Institutions wanted to move value safely, and we built infrastructure that solved that, with a platform proven to move trillions of dollars,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “The market has evolved, and businesses now need audit-ready, tax-compliant financial records as they expand onchain.” TRES has developed financial data infrastructure that transforms operational records into structured financial information, supporting over 230 clients including Finoa, Alchemy, Dune, Wintermute, M2 and Bank Frick. Its technology addresses a common challenge for both crypto-native businesses and traditional financial institutions: ensuring digital asset activity integrates with core systems and reporting processes while remaining compliant with evolving regulations such as MiCA in the EU and the GENIUS Act in the US. Shaulov added, “Together, Fireblocks and TRES form the foundational infrastructure for an onchain financial world. Finance and treasury teams can work from a single source of truth, accelerating innovation and ensuring there are no parallel processes, unexplained balances, or compliance delays.” The acquisition reflects the broader trend of institutional adoption of digital assets, with firms increasingly seeking solutions that combine operational security with regulatory and financial transparency. By linking secure transaction infrastructure with audit-ready financial controls, Fireblocks aims to support the growing operational and compliance demands of both crypto-native companies and traditional institutions engaging with blockchain-based financial activity.     Featured image credit: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik The post Fireblocks Acquires TRES to Support Digital Asset Accounting appeared first on Fintech Singapore.

StraitsX announced the completion of Apple Pay In-App provisioning certification for Pionex Cards. The work was carried out as part of its partnership with Pionex. The certification allows Pionex users to add their cards to Apple Pay directly within the Pionex application. This enables access to contactless payments without requiring users to leave the app. By embedding in-app provisioning into the Pionex experience, users can move from card setup to usage in a single flow. The process operates within Apple Pay’s existing security and privacy framework. The certification reflects the integration between Pionex’s card programme and StraitsX’s card issuance infrastructure, which supports mobile wallet compatibility. The Pionex Card is issued by Pionex, a global cryptocurrency trading platform, and operates on StraitsX’s infrastructure. StraitsX provides Visa BIN sponsorship, issuer processing and stablecoin-based settlement, supporting Pionex’s ability to offer card functionality that is compliant with regulatory and network requirements. This setup allows Pionex to focus on the user-facing card experience within its platform. The Apple Pay In-App provisioning certification process involves technical and compliance assessments across areas such as security controls, provisioning logic, user experience and wallet interoperability. These requirements are often cited as complex for card issuers and programme managers. The completion of the process reflects joint efforts by StraitsX and Pionex to meet these standards while maintaining consistency across platforms. Liu Tianyao “The Apple Pay certification process requires issuers to meet a comprehensive range of technical and compliance requirements and is widely recognised as a rigorous undertaking,” said Liu Tianyao, Head of Commercial and Co-Founder of StraitsX. “Completing this process reflects the maturity of our infrastructure and the depth of our partnerships.” Following this milestone, StraitsX supports multiple mobile wallet provisioning methods for Pionex Cards. These include in-app and direct provisioning for Apple Pay and Google Pay, as well as wallet extension support. StraitsX stated that it plans to extend Apple Pay and Google Pay support to additional card programmes. This will be done through further certifications planned for 2026.     Featured image credit: StraitsX The post StraitsX Completes Apple Pay Certification for Pionex Cards appeared first on Fintech Singapore.

Digital banking in Asia was supposed to change the world. Five years later, did it live up to the hype? In this in-depth retrospective, Vincent Fong (Chief Editor, Fintech News Network) sits down with David Becker (Managing Director, Head of APAC Sales, Mambu) to unpack the last five years of the digital banking boom. They discuss why the predicted “death of traditional banks” never happened, how incumbents managed to adapt so quickly, and why the real revolution is happening in rural financial inclusion rather than just glossy apps. From the technical challenges of cloud-native infrastructure to the “boring but important” reality of AI in banking, this conversation covers the state of play in 2026 and what the next generation of banks will look like. Key Topics Covered: The 5-Year Report Card: Why the market is more balanced between new players and incumbents than anyone expected. Speed is Survival: Why launching in 3 to 4 months is the new standard for success. The AI Reality Check: Moving beyond the hype to discuss governance, credit scoring, and data analysis. Financial Inclusion: How digital credit is creating real-world jobs and lifting communities out of poverty in Indonesia and the Philippines. Future Trends: The rise of Islamic Banking and ESG in the digital space. The post Five Years In: Lessons from Asia’s Digital Bank Revolution | David Becker, MD APAC, Mambu appeared first on Fintech Singapore.

Salesforce has appointed Paul Carvouni as Senior Vice President and General Manager for ASEAN. In this role, he will oversee the company’s growth strategy across the region, with responsibility for sales execution, operational performance, and regional leadership. His appointment comes as Salesforce continues to expand its presence in Southeast Asia. The company operates offices in Singapore, Thailand, and Indonesia, and opened a new office in the Philippines in October 2025. Salesforce has also introduced Agentforce Service and Employee Agent in several ASEAN languages to support local business needs. Salesforce has positioned AI as a major driver of economic growth in the region. The company estimates that AI could represent a US$1 trillion opportunity for ASEAN by 2030. Salesforce is focusing on the adoption of “agentic enterprises”. These integrate humans, AI agents, applications, and data on a single platform. Carvouni brings more than 20 years of leadership experience in the technology sector. He has held senior roles at Microsoft and Riverbed Technology across Asia Pacific and ASEAN. His background includes building regional teams and managing large-scale growth initiatives. Commenting on his appointment, Carvouni said: Paul Carvouni “ASEAN presents a significant opportunity across industries and markets. My focus will be on working with customers, partners, and teams across the region to support responsible adoption of AI and data-driven technologies.” Salesforce said Carvouni will focus on strengthening customer engagement and supporting organisations at different stages of digital and AI adoption, from SMBs to large enterprises and public sector institutions.     Featured image credit: Edited by Fintech News Singapore, based on image by digitizesc via Freepik The post Salesforce Appoints Paul Carvouni as ASEAN Regional Head appeared first on Fintech Singapore.

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

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

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

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

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

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

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

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

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

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

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

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