Amazon has launched the AWS Asia Pacific (New Zealand) Region, providing organisations in the country with the option to run applications and store data locally. The company will invest more than NZ$7.5 billion to build, connect, operate, and maintain its data centres in New Zealand. Prasad Kalyanaraman “The new AWS Region in New Zealand will help serve the growing demand for cloud services across the country and empower organisations of all sizes to accelerate their digital transformation,” said Prasad Kalyanaraman, Vice President of Infrastructure Services at AWS. “With this launch, businesses can now leverage advanced AWS technologies, from core cloud capabilities to artificial intelligence and machine learning, all while meeting local data residency requirements. By investing in New Zealand’s digital infrastructure, we’re proud to support the country’s economic growth, foster innovation, and help position it as a technology hub in the Asia Pacific region.” The new region consists of three Availability Zones, bringing AWS’s global total to 120 across 38 regions. Amazon has also announced plans for further regions in Chile, Saudi Arabia, and the European Sovereign Cloud. The New Zealand region is designed to meet local data sovereignty requirements and will be powered from the outset by renewable energy through a partnership with Mercury NZ’s Turitea South wind farm. Amazon said the project is expected to contribute about NZ$10.8 billion to New Zealand’s GDP and support more than 1,000 full-time equivalent jobs annually across sectors including engineering, telecommunications, and facility operations. The company has also signed a Memorandum of Understanding with the New Zealand government to provide cloud skills training for 100,000 people, with more than 50,000 already trained. Existing AWS customers in New Zealand include Kiwibank, Xero, TradeMe, TVNZ, Mercury NZ, Contact Energy, and the University of Auckland, as well as government bodies such as the Ministry of Transport and Land Information New Zealand. Partners working with AWS locally include Accenture, Deloitte, Datacom, and MongoDB. The company has been expanding its infrastructure footprint in New Zealand for several years, establishing subsea cable connections in 2016, CloudFront edge locations in 2020, and an AWS Direct Connect location and Local Zone in Auckland in 2023. It estimates its cloud infrastructure is significantly more energy-efficient than on-premises alternatives, with the potential to cut carbon emissions when workloads are optimised on AWS. The new AWS region will allow organisations to store data securely within New Zealand, improve latency for users, and support demand for cloud services across the wider Asia Pacific region.   Featured image credit: AWS The post Amazon Web Services Launches New Zealand Cloud Region appeared first on Fintech Singapore.

AUSTRAC has issued Revolut Australia with an infringement notice of A$187,800 after the company disclosed that it had submitted reports late. Revolut, a remittance service provider, self-reported failures to lodge international funds transfer instructions within the timeframe required under the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Act. AUSTRAC Chief Executive Brendan Thomas said that once Revolut identified the issue, it acted quickly to submit the missing reports and strengthen its systems. Brendan Thomas “Revolut has been co-operative with AUSTRAC and paid the infringement notice in full,” he said. “These are the real-life consequences of failures to report, and it’s why failures to report need to have regulatory consequences, even where reporting entities detect, disclose and report the failures. “Remittance services are attractive to money launderers and other types of criminals because they can move funds cheaply and quickly across borders. “We take late reporting seriously because timely reports are critical to help us detect and disrupt financial crime, to strike while the iron is hot. If we don’t pick up suspicious movements as soon as possible, it denies law enforcement access to the intelligence that supports criminal investigations.” Payment platforms are a focus of AUSTRAC’s 2024 regulatory priorities. In its 2024 national risk assessment, the regulator identified remittance services, including payment platforms, as presenting a high and ongoing money laundering risk. “The risks in this sector are high and they are consistent. It is not just traditional laundering that we’re concerned about, payment platforms are particularly vulnerable to the movement of funds associated with payments for child exploitation material. “Timely international funds transfer reports allow us to analyse current activity that points to potential persons of interest. We need to get this intelligence to law enforcement so they can act. That’s why it is so important that businesses offering remittance services ensure they are meeting their AML/CTF obligations around reporting.” Payment of an AUSTRAC infringement notice does not amount to an admission of liability.   Featured image credit: Edited by Fintech News Singapore, based on image by freepik The post AUSTRAC Fines Revolut A$187,800 for Late Reporting Breaches appeared first on Fintech Singapore.

Global investment company Temasek is restructuring to sharpen its focus on three distinct portfolio segments as it prepares for shifting global conditions. From April 2026, the state investor will separate its portfolio into global direct investments, Singapore-based portfolio companies, and partnerships and funds. These will be managed by three new wholly owned entities: Temasek Global Investments (TGI), Temasek Singapore (TSG), and Temasek Partnership Solutions (TPS). TGI will oversee global direct investments, TSG will manage Singapore-based portfolio companies, and TPS will handle partnerships, funds, and asset management. The changes form part of Temasek’s T2030 strategy, the latest in a series of decade-long roadmaps since the 2000s. The firm said the new entities will better align resources with strategy while strengthening overall portfolio resilience. Leadership changes will support the transition. Chia Song Hwee becomes Co-CEO of Temasek International on 1 October 2025, alongside CEO Dilhan Pillay. From April 2026, Chia will also serve as CEO of TGI and Deputy Chairman of TI, TSG, and TPS. Pillay will chair all four entities while remaining Executive Director and CEO of Temasek Holdings. Other appointments include Nagi Hamiyeh as President of TGI and Png Chin Yee as President of TSG, both concurrent with their current roles. Seviora Holdings, Temasek’s asset management arm with over S$90 billion under management, will work with TPS to review existing businesses and explore new asset management companies. Its CEO Gabriel Lim will lead the effort, with Pillay set to become Chairman of Seviora’s Board on 1 September 2025. Lim Boon Heng Lim Boon Heng, Chairman, Temasek Holdings, said, “Our portfolio has evolved and grown significantly over the last two decades. As we continue our journey, these changes will enable Temasek to navigate and operate effectively, positioning it to be future-ready. We must remain steadfast in our commitment to do well, do right, and do good. By harnessing our collective strengths, we act today with tomorrow in mind, so every generation prospers.” Dilhan Pillay Dilhan Pillay, Executive Director and CEO, Temasek Holdings, said, “Temasek must stay agile to sense the pathways ahead and what could possibly be around the corner, adapt to the emerging realities, and perform with resilience in an ever-changing landscape. This next step in our T2030 strategy will position us strongly for growth, by enabling us to stay laser-focused on scaling our three segments and building a resilient and forward-looking portfolio.”       The post Temasek to Split Portfolio Into Three Segments From April 2026 appeared first on Fintech Singapore.

Binance has appointed SB Seker as its new Head of Asia-Pacific (APAC), where he will oversee regional strategy, operations, and regulatory engagement across the region. Seker has more than 20 years of experience spanning the public sector, traditional finance, fintech, and digital assets. His expertise covers legal, compliance, and market access, along with a strong record of leadership. Before joining Binance, he served as Senior Vice President at Crypto.com Group, where he managed global product development and handled legal and regulatory matters for APAC and MENASA. He has also held senior legal roles at Ant Group, Rothschild & Co, and Amicorp Group. Earlier in his career, he worked as a litigator in Australia and later as a central banking lawyer at the Monetary Authority of Singapore. In his new role, Seker will oversee Binance’s operations in APAC, cultivate strategic partnerships, and drive market adoption. A key part of his mandate will be to work with policymakers and regulators, supporting the company’s efforts to strengthen compliance in the region. Richard Teng Richard Teng, CEO of Binance, said, “APAC has always been a key region for Binance, and Seker’s deep-rooted experience across its diverse markets makes him uniquely positioned to lead the company’s next phase of regional growth and engagement.” SB Seker SB Seker added, “I’m truly excited to join Binance to help shape a sustainable, innovative, and compliant future for the digital- asset ecosystem across the region alongside the talented team. By working closely with regulators, partners, and our broad community, I look forward to driving strategic initiatives and delivering robust operations throughout the region.”     Featured image: Edited by Fintech News Singapore, based on image by we3yanie via Freepik The post SB Seker Appointed to Lead Binance’s APAC Operations appeared first on Fintech Singapore.

QCP Trading has joined the ranks of licensed digital asset firms in Singapore after receiving a Major Payment Institution license from the Monetary Authority of Singapore. The approval follows an in-principle clearance in November 2024 and allows QCP Trading to provide over-the-counter spot trading of digital payment tokens to institutional clients. Its services include multi-currency on- and off-ramping, voice trading, API connectivity, and same-day settlement with local banking partners. Parent company QCP Group said it has expanded its Singapore team by about 40 percent year on year, with new hires across compliance, operations, and client coverage. Founded in 2017, QCP Group offers derivatives, spot trading, and structured products to institutional, professional, and accredited investors. It is headquartered in Singapore and also operates an office in Abu Dhabi. Darius Sit Darius Sit, Founder of QCP Group, said, “The granting of the MPI license for our spot DPT trading arm reflects our unwavering commitment to regulatory integrity and our mission to build the most trusted institutional trading platform in digital assets. This milestone enables us to deepen our roots in Singapore’s financial ecosystem, while delivering compliant, and seamless services to clients across the region and globally.” Melvin Deng Melvin Deng, Chief Executive Officer of QCP Trading, said, “Singapore continues to lead with forward-thinking digital asset regulation. Being licensed under MAS positions QCP Trading to meet the growing institutional demand for trusted DPT services.”       Featured image: Edited by Fintech News Singapore, based on image by lifeforstock via Freepik The post QCP Greenlit by MAS to Offer Regulated Crypto OTC Trading in Singapore appeared first on Fintech Singapore.

Indian multinational tech company Infosys has announced a collaboration with Mastercard to expand access to Mastercard Move, the payments company’s portfolio of money movement services. The partnership will integrate Mastercard Move with Infosys Finacle, the banking platform of EdgeVerve Systems, a subsidiary of Infosys. This will allow financial institutions to connect with Mastercard’s cross-border capabilities in less time and with fewer resources than traditional integration projects. Mastercard Move supports banks, non-bank financial institutions and direct disbursers in transferring funds securely across borders. The service covers more than 200 countries, supports over 150 currencies and reaches more than 95 percent of the world’s banked population. Pratik Khowala Pratik Khowala, EVP and Global Head of Transfer Solutions at Mastercard, said, “The strategic collaboration with Infosys provides financial institutions with easy access to these capabilities, enabling them to facilitate fast, secure and reliable cross-border payments for their customers while enhancing control of risk, operations, costs and liquidity for themselves. Together with Infosys, we’re helping financial institutions deliver the seamless digital payments experiences today’s customers expect.” Dennis Gada Dennis Gada, EVP and Global Head of Banking and Financial Services at Infosys, added, “Financial institutions are prioritizing advancements in digital payment systems. The frequency of daily transactions makes it a primary touchpoint with customers — and the key to building long-term loyalty. Consumers gravitate toward institutions that offer fast, secure and seamless transaction experiences. Our collaboration with Mastercard to enable near real-time, cross-border payments is designed to significantly improve the financial experiences of everyday customers.” The integration is expected to help banks respond to growing demand for digital payments and remittances, particularly in Asia, which accounts for nearly half of global inflows.     Featured image: Edited by Fintech News Singapore, , based on images by wayhomestudio and K illustrator Photo via Freepik The post Infosys and Mastercard Partner to Streamline Cross-Border Payments appeared first on Fintech Singapore.

Straits Millennium has received a Major Payment Institution license from the Monetary Authority of Singapore, clearing the way for it to offer regulated digital payment token services. The license, granted under the Payment Services Act 2019, follows an earlier in-principle approval from MAS. It allows the company to provide a regulated platform for exchanging digital payment tokens and fiat currencies, with competitive trade execution, adherence to industry best practices, and a focus on compliance, security, and institutional-grade risk management. Straits Millennium is a subsidiary of Straits Financial Group, which operates globally in commodities, derivatives, and financial brokerage. The approval extends the group’s services into the digital asset space, enabling businesses and institutional investors to participate in digital asset transactions through a regulated provider. Jeremy Ang Jeremy Ang, Group CEO of Straits Financial Group, said, “This is a key milestone for the Group to strengthen its offerings in bespoke financial services to our esteemed clients. Our clients increasingly seek professional access to digital assets to complement their trading and investment goals. With our deep expertise in derivatives, commodities, and institutional financial services, we are well-positioned to deliver best-in-class digital asset services to the market.” Chew Min Wei Chew Min Wei, Head of Digital Assets at Straits Millennium, added, “We have built strong, lasting relationships with our clients in traditional finance, and now we are bringing that same client-centric approach to digital assets.”       Featured image: Edited by Fintech News Singapore, based on image by EyeEm via Freepik The post Straits Millennium Cleared by MAS to Provide Crypto Payment Services appeared first on Fintech Singapore.

MariBank is rolling out new safeguards to protect customers’ cards, with phishing scams stripping at least S$59.4 million from victims last year as tactics grow more sophisticated. The bank has introduced an in-app verification step that follows the SMS one-time password. Customers must explicitly confirm any attempt to link their card to a digital wallet, making it harder for scammers to misuse stolen details for unauthorised transactions. A second feature, Money Lock, lets customers set aside part of their savings so the funds cannot be withdrawn without extra checks, even if an account is compromised. Unlocking requires SingPass Face Verification and a 12-hour cooling period, with additional verification in some cases. Money placed in Money Lock continues to earn interest at the prevailing Mari Savings Account rate. According to police data, fraudsters often use fake e-commerce sites or phishing links to trick victims into handing over card details and OTPs. These are then used to attach cards to digital wallets and make fraudulent payments. MariBank, wholly owned by Sea Limited and licensed by the Monetary Authority of Singapore, said the measures were developed in collaboration with authorities. Natalia Goh Natalia Goh, CEO of MariBank, said, “At MariBank, protecting our customers’ hard-earned money is our top priority. These new safeguards, developed in close collaboration with authorities, reflect our commitment to staying one step ahead of bad actors. We will continue to innovate and build features that give our customers greater peace of mind when banking digitally.”     Featured image: Edited by Fintech News Singapore, based on image by thanyakij-12 via Freepik   The post MariBank Introduces Money Lock Feature as Phishing Threats Grow appeared first on Fintech Singapore.

Ant Group’s net profit fell about 60 percent in the quarter ended 31 March as the Chinese fintech expanded abroad and increased spending on artificial intelligence (AI) to drive growth, Bloomberg reported. Alibaba’s filings, which record Ant with a one-quarter lag, indicate Ant earned roughly 4.74 billion yuan, or about US$663 million, in the period. Alibaba recognised around 1.5 billion yuan as its share of Ant’s profit, consistent with its one-third stake. The drop followed a year-on-year decline of about 31 percent in the prior quarter. Ant’s Singapore-based international unit generated nearly US$3 billion in revenue in 2024, a performance that has fueled expectations of a potential listing of the overseas division in Hong Kong. The company is also investing in AI across products and infrastructure. Reports say Ant has trained large models on domestically produced chips and is pursuing efficiency gains alongside new services in areas such as healthcare. Ant continues to navigate the aftermath of China’s regulatory crackdown that halted its 2020 mega-IPO, which once targeted a valuation near US$280 billion. A 2023 share buyback valued the group at about US$79 billion. Any renewed listing remains subject to regulatory outcomes, with Bloomberg previously reporting that the company would explore Hong Kong first, and Ant earlier cautioning against premature IPO speculation.     Featured image: Edited by Fintech News Singapore, based on image by Freepik     The post Ant Group Profit Falls 60% in March Quarter on AI and Expansion Costs appeared first on Fintech Singapore.

In Southeast Asia, regulators are tightening their oversight of financial services marketing, placing financial institutions under pressure to monitor agent behavior, mitigate misinformation, and maintain brand trust. A new paper by Meltwater, an online media, social and consumer intelligence company from Norway, looks at how regulators are cracking down on unethical behavior such as misleading advertising and high-pressure sales tactics, highlighting recent regulatory developments amid the surge of financial influencers (finfluencers). In Malaysia, Securities Commission (SC) released in March 2025 a revised version of its Guidelines on Advertising for Capital Market Products and Related Services, taking into account evolving global and domestic trends, including the rise of social media. The revised framework, which aims to ensure responsible advertising activities in relation to capital market products and services, introduces new requirements for finfluencers who are not engaged as marketing agents by an advertiser but yet promote capital market products. It also strengthens advertisers’ responsibilities to ensure compliance by their agents, establishes rules on the use of social media for financial promotions, and prohibits advertising services in Malaysia by persons not authorized by the SC. The framework will come into effect on November 01, 2025, Indonesia also introduced a new regulation this year through the Financial Services Authority, aiming to consolidate and modernize rules for securities underwriters and brokers, while also introducing a new category of regional securities companies. Taking effect on December 11, 2025, the regulation notably formalizes the use of social media influencers as a legitimate promotional channel, but outlines clear models of collaboration. It particular, it requires written agreements and compliance with licensing standards, and puts restrictions on influencer activities. Among other things, social media influencers may act as advertising platform and/or share information about the capital market, but they cannot invite prospective customers to become customers of PPE and PED, and are not permitted to offer any personal assessments or analysis. Financial institutions must also ensure that their influencer partners meet all applicable qualification and licensing requirements in accordance to the selected collaboration model. In Singapore, the Monetary Authority of Singapore (MAS) requires financial institutions to ensure that advertisements are fair, balanced, and not misleading. Product advertisements are to be clear and legible to ensure that financial advertisements convey accurate information. These measures aim readability and understanding by the consumer, and facilitate more transparent and ethical advertising. MAS also prohibits the advertisements of virtual assets through any public channel, including television, social media, and physical billboards, citing the high risks of cryptocurrencies, which are unsuitable for the general public due to their volatility. Crypto services providers are also prohibited from marketing through third parties, including social media influencers. This trend extends across the broader APAC region. In Hong Kong, for example, the Insurance Authority (IA) introduced in 2024 tighter regulations, strengthening ethical conduct from companies across its insurance sector to ensure fairer treatment and strong protection of insurance customers, particularly in the sale of long-term and medical insurance policies. The IA’s guidelines set requirements on product design, disclosure of clear and adequate information, financial needs analysis, benefit illustrations, policy replacement, cooling-off periods, and the use of gifts in promotions. It also mandates post-sale controls and appropriate remuneration structures to minimize conflicts of interest. The rise of finfluencers and accompanying risks Finfluencers are social media influencers who offer advice and information on various financial topics, including saving, investing, and cryptocurrencies. They use social media platforms like YouTube, TikTok, and Instagram to offer advice in quick, engaging and easy-to-digest content forms, focusing on simplifying complex financial concepts. Though finfluencers have helped make intricate subjects more accessible and raise awareness about personal finance, their rise has also introduced significant risks. Unlike licensed investment advisors who must register with regulators and meet professional qualifications, finfluencers bypass these requirements. Furthermore, finfluencers generate income through unrelated incentives such as platform monetization, brand promotions, or affiliate marketing, whereas financial advisors typically earn fees or commissions tied to client services. Hence, their focus is often on growing their online presence rather than protecting client interests. High-profile cases illustrate these risks. In 2022, reality star Kim Kardashian was fined US$1.26 million by the US Securities and Exchange Commission (SEC) for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Football player Tom Brady and NBA star Shaquille O’Neil had also promoted FTX before the crypto trading platform collapsed. And yet, reliance on social media for financial advice continues to grow. A 2024 MoneySmart survey of 2,000 adults in Hong Kong and Singapore found that 52% relied on social media as their primary source of financial advice, ahead of family, friends, financial advisors, and books. Platforms such as YouTube, Instagram and Facebook emerged as the most popular for accessing financial insights. Nearly half (43%) of those surveyed said social media improved their financial knowledge, with 19% using it daily to seek financial tips and advice. Yet, the risks are real. Almost 1 in 5 (18%) respondents lost money on investments influenced by online advice, and a further 14% fell victim to financial scams after following social media recommendations. Among those who followed social media advice, 9% reported substantial financial losses.   Featured image: Edited by Fintech News Singapore, based on images by aukid and freepik via Freepik The post The Rise of Finfluencers: Unpacking Compliance Risks in Southeast Asia’s Financial Landscape appeared first on Fintech Singapore.

“AI has fully defeated most of the ways that people authenticate currently.” A warning that Sam Altman, CEO of OpenAI said at a Federal Reserve conference this July. He didn’t say it at a tech event in Silicon Valley, but in front of regulators who oversee the stability of the financial system. For centuries, fraud relied on human gullibility. In 2025, it’s powered by machines that can fake your voice, your face, and even your identity with unsettling precision. Fraudsters have now industrialised what once depended on a forged signature or a convincing lie. With only a few seconds of someone’s speech, a scammer can create a voice clone that sounds indistinguishable from the real person. With a set of images pulled from LinkedIn, they can build a deepfake avatar capable of joining a Zoom call. This is the crisis that Altman wanted the Fed to understand. And judging by the bluntness of his language, he knows it is not a distant hypothetical but a present-day problem. A Crisis in the Numbers The financial fallout is already staggering. In 2024, scams drained more than US$12.5 billion from consumers, a jump of 25% from the year before. Nearly half of all fraud attempts in the financial sector now involve AI in some form. And it is not just the sheer volume of attempts that worries experts, but their success rate. Almost a third of AI-driven fraud attacks bypass existing security measures. Deepfakes in particular have exploded, with incidents growing more than tenfold between 2022 and 2023. One British engineering firm learned this the hard way when an employee was tricked into wiring US$25 million after a video call with what appeared to be the company’s CFO and senior executives. Every one of them was a synthetic fabrication. Despite this, preparedness is shockingly low. Only 22% of financial institutions have invested in AI-powered defences of their own. Eight out of ten companies have no plan at all for handling deepfake attacks. Consumers are equally vulnerable. Most people admit they cannot tell the difference between a real voice and an AI-cloned one. Acting as Both The Prophet and the Profiteer The genius, and the horror, of AI fraud is that it no longer needs to exploit software vulnerabilities. Instead, it exploits human ones. A cloned voice asking a grandparent for urgent bail money feels more real than any phishing email. A boss on a live video call insisting on an emergency transfer is harder to question than an email attachment. What we are witnessing is not simply more fraud, but a change in its nature. The battlefield has shifted from systems to psychology, from code to cognition. Scammers do not need to break into your bank account if they can convince you to open it for them. Sam Altman’s warning has also stirred an uncomfortable debate. On the one hand, his message is clear and urgent. The foundations of digital trust are cracking under AI’s weight. On the other hand, critics argue that it is a fire his own company helped light. OpenAI and its peers built the very tools now being weaponised, and some even accuse Altman of playing both the prophet and the profiteer, issuing warnings about the dangers while selling the technology that fuels them. There is also a suspicion that calls for stricter regulation conveniently benefits the largest players. Complex rules are easier for giants to comply with than startups, raising the spectre of regulatory capture. Whether altruistic or strategic, the fact remains that policymakers are now being pushed to act, and fast. Fighting Back Defences are emerging, though they are uneven. Banks are experimenting with AI to monitor transactions in real time, spotting unusual behaviour before losses mount. Regulators in the United States are rolling out new rules to address impersonation scams, while the European Union is moving towards government-backed digital identity wallets. At the corporate level, some companies are ditching outdated biometric checks and replacing them with layered security systems that verify not only who you are, but how you behave online. Training employees to distrust even convincing requests is becoming just as important as any piece of software. And for individuals, the advice is as unglamorous as it is effective. Hang up and call back. Verify before you trust. Share less of your voice and face online. Some families have even introduced “safe words” to confirm identity during emergency calls. Low-tech solutions still matter in a high-tech fraud world. What AI fraud is really stealing is not just money, but certainty. The certainty that the voice on the phone is your child. The certainty that the person on screen is your boss. The certainty that seeing and hearing are enough. Suddenly, in this “new” world, certainty must be earned, not assumed. If this feels like the kind of issue you’d like to unpack further, Fintech News Singapore is running a webinar on September 9, 2025, called How AI is Transforming FSI’s Approach to Fraud. It’s worth tuning in if you want to hear how the people on the frontlines are thinking about what comes next. Head over to register. Featured image by TechCrunch via Wikimedia Commons. The post The AI Fraud Crisis That the CEO of OpenAI Wants Us to See appeared first on Fintech Singapore.

Payments solution provider BPC and Visa are bringing a new level of flexibility to Vietnam’s payments scene, allowing cardholders to toggle between debit, credit, installments, or rewards on a single card. The launch, supported by BPC’s SmartVista platform, is among the first Visa Flexible Credential rollouts in Vietnam. It allows financial institutions to issue cards that let consumers instantly choose how they want to pay, whether through debit, credit, Buy Now Pay Later installments such as pay-in-four, or by redeeming rewards points. The initiative is part of BPC’s wider collaboration with Visa to accelerate digital payment transformation across Asia Pacific, beginning with Vietnam. Alongside greater choice, the technology is also designed to simplify multi-currency transactions, support better budgeting, enable smarter use of rewards, and improve spend management. Following the Vietnam rollout, BPC and Visa plan to extend Flexible Credential deployments to other markets in the region in the coming months. Peter Theunis Peter Theunis, SVP Sales, BPC, said, “Vietnam is one of the fastest-growing digital economies in Asia. Being among the first issuer processors worldwide to certify and launch Visa Flexible Credential is a milestone for us. SmartVista’s microservices architecture means we can enable the service swiftly for any bank in Vietnam and the region, helping issuers bring dynamic, customer-centric propositions to their market.”   The post BPC and Visa Enable Vietnam Cardholders to Switch Between Debit, Credit, BNPL appeared first on Fintech Singapore.

Da Nang has cleared Basal Pay, a crypto-to-fiat conversion platform developed by AlphaTrue Solutions JSC, to operate in the city’s controlled fintech sandbox, The Investor Vietnam reported. AlphaTrue, a member of the Vietnam Blockchain and Digital Asset Association, designed Basal Pay to comply with global standards. The platform incorporates the Financial Action Task Force’s Travel Rule, requires sender and recipient information for each transfer, and uses three levels of identity verification. It also automatically transmits transaction data and stores records for five years, giving regulators stronger oversight tools. Basal Pay allows crypto-to-fiat conversion in seconds, eliminating intermediary steps and aiming to reduce transaction costs by about 30 percent compared with traditional channels. The system is built on a blockchain foundation, which AlphaTrue says enhances both efficiency for users and transparency for authorities. The sandbox approval grants Basal Pay a three-year trial divided into five stages: platform development, limited release, expansion, evaluation, and potential full rollout. Oversight will be provided by Da Nang’s Department of Science and Technology together with city authorities to ensure compliance and test integration with the broader financial system. According to the National Statistics Office of Vietnam, Da Nang received nearly 11 million visitors with service revenue of VND 18 trillion (about US$682.7 million). OneFin Vietnam, AlphaTrue’s technology partner, said the project could improve the payment experience for foreign tourists while contributing to the creation of a more modern and sustainable digital financial ecosystem. Under National Assembly Resolution 222, both Da Nang and Ho Chi Minh City have been assigned to establish international financial centers under special policy frameworks. Vietnam is currently ranked fifth worldwide in cryptocurrency adoption, with more than 17 million users. Much of this activity operates without formal supervision, raising concerns about fraud, money laundering, and lost tax revenue. Sandbox projects such as Basal Pay are expected to help Vietnam experiment with digital finance while reinforcing risk management.     Featured image: Edited by Fintech News Singapore, based on image by isaac1112 via Freepik The post Vietnam Greenlights Crypto-to-Fiat Sandbox Trial in Da Nang appeared first on Fintech Singapore.

KuCoin has announced that it will be the first global crypto exchange to support Thailand’s G-Token program, a government initiative to issue tokenised sovereign bonds. The program is described as the world’s first publicly offered tokenised government bond and also marks Thailand’s first government bond listed on a digital asset exchange. The project is being developed by a consortium that includes XSpring Digital, KuCoin Thailand, SIX Network, and Krungthai XSpring. KuCoin Thailand, which is licensed by the Securities and Exchange Commission of Thailand, will be among the first platforms to facilitate subscription, redemption, and listing of the G-Token. Subject to regulatory approval, KuCoin also plans to make the token available on its global platform. The G-Token, or “Government Digital Bond,” is a tokenised real-world asset issued by the Ministry of Finance under the Public Debt Management Act. Unlike cryptocurrencies, it is backed by the government and offers institutional and retail investors access to sovereign bonds, with principal and interest payments guaranteed by the ministry. The initiative is intended to lower barriers to investing in government securities, which have traditionally required high minimum purchase amounts. By tokenising bonds on blockchain, the G-Token aims to expand participation, improve transparency, reduce operational costs, and create liquidity through secondary market trading. KuCoin and its Thai entity will provide technical support and help develop secondary market activity. The exchange has also committed to advising on international expansion, linking Thailand’s initiative with global capital markets. BC Wong BC Wong, CEO of KuCoin, said, “KuCoin has always been committed to bridging traditional finance with the crypto world through secure and innovative solutions. Supporting Thailand’s Ministry of Finance and XSpring on the world’s first sovereign tokenised bond demonstrates our leadership in RWA adoption. We are proud to be the first and the only global exchange to support the G-Token, which sets a global benchmark for financial innovation and inclusion.”     Featured image: Edited by Fintech News Singapore, based on image by tawatchai07 via Freepik The post KuCoin First Global Crypto Exchange to Support Thailand’s Tokenised Govt Bond appeared first on Fintech Singapore.

Atlas Consolidated has raised US$18.1 million in a Series B funding round led by Singapore-based venture capital firm Tin Men Capital. The round also saw participation from existing investors Getz, Inc. and Woodside Holdings Investment Management. The Asia-based Banking-as-a-Service provider said the investment will be used to accelerate the expansion of HugoHub, its modular, cloud-native digital banking platform. HugoHub, which originated in Singapore, is being deployed in both emerging and developed markets. The platform is designed to help financial institutions modernize their infrastructure without large-scale system replacements. Atlas says it can cut technology spending by up to 90%, reduce operating expenses by 75–80%, and support financial inclusion by lowering the cost of delivering modern banking services. Jeremy Tan Jeremy Tan, Co-Founder and Managing Partner of Tin Men Capital, said, “Tin Men Capital is proud to support Atlas Consolidated as they scale this next-generation approach, helping more forward-leaning banks in their digitalisation journey. Built in Southeast Asia and designed to be deployed globally, Atlas’ solution exemplifies the kind of ambitious innovation we are excited to back in our region,” said Jeremy Tan, Co-Founder and Managing Partner of Tin Men Capital. David Fergusson David Fergusson, Chief Executive Officer, Atlas Consolidated, said, “This investment marks a pivotal step in our mission to build better banks through technology. With Tin Men Capital’s support, we can accelerate HugoHub’s expansion to new markets, helping traditional financial institutions create more efficient, inclusive and sustainable systems.”     Featured image: Edited by Fintech News Singapore, based on image by digitizesc via Freepik     The post Atlas Consolidated Raises US$18.1 Million in Series B Funding Round appeared first on Fintech Singapore.

Osome, a fintech platform providing business and financial management tools, has promoted Helena Flores to Chief Operating Officer (COO). Flores, who previously served as Vice President of Operations, has been with the company for six years. She joined during its early startup days when it operated in a single market and has since played a key role in scaling Osome’s operations across multiple regions. Her contributions have included leading automation rollout, building compliance infrastructure, and strengthening customer delivery. Victor Lysenko “Helena’s contribution in our business has been impactful. She’s transformed our multi-market operations to raise efficiency and strengthen collaborations that enable Osome to deliver differentiated experiences to customers. This new role recognises our confidence in her ability to support our business growth and development through multi-market cross-functional collaboration and synergies.” said Victor Lysenko, CEO of Osome. Helena Flores “I’ve been part of Osome’s journey since we were a small, fast-moving team, and I’m proud to see how far we’ve come. This role is not just a title change, it’s a continuation of the mission I’ve believed in from day one: to build secure, founder-first systems that scale with trust and purpose.” said Flores.     Featured image: Edited by Fintech News Singapore, based on image by faahadkhan via Freepik The post Osome Promotes Helena Flores to COO After Driving Multi-Market Expansion appeared first on Fintech Singapore.

Finastra, a global financial software provider, is plugging Circle’s USDC stablecoin into its payments hub, giving banks a new way to settle cross-border transfers in near real time. The integration will run through Global PAYplus (GPP), the first Finastra solution to connect banks to Circle’s payment infrastructure. Finastra says GPP customers process more than US$5 trillion in cross-border transactions daily. Banks will be able to settle in USDC even when payment instructions on both sides remain in fiat currency. The option is intended to reduce reliance on correspondent banking chains, accelerate settlement, maintain existing compliance and FX processes, and lower the cost of international transfers. USDC is a regulated, fully reserved stablecoin designed for transparent, near-instant settlement. Chris Walters “This collaboration is about giving banks the tools they need to innovate in cross-border payments without having to build a standalone payment processing infrastructure. By connecting Finastra’s payment hub to Circle’s stablecoin infrastructure, we can help our clients access innovative settlement options.” said Chris Walters, CEO of Finastra. Jeremy Allaire “Finastra’s reach and expertise in powering the payments infrastructure for leading banks worldwide makes them a natural choice to further expand USDC settlement in cross-border flows. Together, we’re enabling financial institutions to test and launch innovative payment models that combine blockchain technology with the scale and trust of the existing banking system.” said Jeremy Allaire, Co-founder, Chairman and CEO of Circle. Circle had recently announced a partnership with Mastercard on a pilot in Europe, the Middle East, and Africa to explore USDC settlement for cross-border payments.     Featured image: Edited by Fintech News Singapore, based on image by stockboy via Freepik The post Finastra and Circle Open Door for USDC Stablecoin Use for Faster Settlements appeared first on Fintech Singapore.