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As a Project Guardian participant, Ant International also leveraged its blockchain-based Whale platform to develop a global treasury management use case for real-time multi-currency clearing and settlement. By enabling interoperability between bank solutions, payments can be completed 24/7 with FX settlement conducted in real-time.
Standard Chartered and Ant International have successfully completed their first Singapore dollar (SGD) transaction using the latter’s blockchain-based Whale platform. Featured image credit: Edited from Freepik The post Standard Chartered, Ant Complete First Blockchain-Based SGD Settlement appeared first on Fintech Singapore.
A Tracxn Technologies report highlights that the Southeast Asia fintech ecosystem experienced its zenith in 2021, marking the highest annual equity funding in the last decade. A visual overview of the SEA fintech sector’s funding trajectory from 2017 to 2024, showcasing the sharp decline after a record-breaking 2021.
Keeta Network, a high-performance blockchain that connects Web3 and traditional financial systems, aims to be a real-world tokenisation and financial interoperability frontrunner by working with Solo.
The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. Out of the unicorns worldwide valued at a combined $4 trillion , a rising share are coming out of Asias fast-moving fintech ecosystem. These include two decacorns from India and China, each valued at over $10 billion.
Singapore FinTech Festival returned for its ninth annual edition, bringing together policy, finance and technology communities at the Singapore EXPO. Here’s our pick of the announcements made at Singapore FinTech Festival 2024.
Global asset manager and Swiss bank UBS has developed and successfully piloted a blockchain-based payment solution, aiming to increase efficiency and transparency, as well as enable the programmability of money movements for corporate and institutional clients.
The processes included converting reserve account balances into digital Rupiah and vice versa, ensuring seamless interoperability with Bank Indonesias Real-Time Gross Settlement (BI-RTGS) system. Addressing interoperability, scalability, and security challenges, Indonesia sets a global example for nations exploring similar initiatives.
In 2024, Singapore continued to solidify its position as a global fintech leader. Emerging technologies such as artificial intelligence (AI) and blockchain are being adopted at a fast pace, with generative AI becoming a critical tool for financial institutions.
Tokenisation is now a core enabler of secure, interoperable digital paymentspowering embedded finance, asset tokenisation, and evolving identity flows. Once a system for masking sensitive data, tokenisation has evolved into a foundational technology for enabling secure, interoperable, and scalable digital payments.
The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. However, challenges remain, particularly regarding interoperability.
Under the MoU, ADGM and Chainlink will foster a dialogue on regulatory matters in blockchain, AI, and other emerging technologies. Chainlinks services, including blockchaininteroperability and verifiable data solutions, are facilitating liquidity across global markets, enabling over $19trillion in transaction value.
Ripple Payments employs blockchain and digital assets, and a global network of payout partners to deliver fast, transparent, reliable cross-border payments and on/off ramps for banks, crypto companies, and fintechs worldwide. The partnership marks progress for OpenPayd’s recently launched stablecoin infrastructure.
The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products. Designed for interoperability, the platform supports a range of use casesfrom remittances and merchant payouts to treasury and wallet operations.
We often explore how fintechs are changing the banking and payments landscapes, and sometimes look into how their solutions are supporting financial inclusion and helping people develop healthy financial habits. Sending cross-border payments, for example, often comes with heavy processing costs and conversion fees.
The industry must focus on technological investments, enhancing security, and addressing regulatory and interoperability challenges to stay competitive. Furthermore, the survey highlights the key challenges faced by the industry, such as cyber-security threats and the need for interoperability between different payment systems.
Through this collaboration, Paycode and Algorand will explore integrating public blockchain technology to strengthen digital identity systems, improve transparency, and unlock new models for delivering secure, inclusive payments at scale. “Paycode is already reaching some of the most difficult places to serve. .
These solutions are already widely adopted and focus on enabling technical interoperability between existing mobile wallets, offering fast and integrated payment experiences within their local banking ecosystems. Wero, in contrast, offers a unified architecture, designed for full interoperability and scale across Europe.
Across Southeast Asia, fintechs have reshaped how consumers and businesses interact with financial services. Singapore is leading the pack with a vibrant and fast-growing fintech ecosystem, enabling fast adoption of next-generation payment solutions, from experimental blockchain applications to central bank digital currency (CBDC) trials.
Fiserv unveils stablecoin for banks Fintech giant Fiserv is making a crypto play, unveiling plans for a digital asset platform, including a stablecoin for financial institutions. Fiserv is now offering to help banks make the move.
Valued at $28.93billion in 2024 and set to hit $49.18billion in 2025, according to The Business Research Company , the blockchain market is thriving. While this growth is in part due to the success of the crypto industry, the blockchain industry is not dependent on crypto. Blockchain has not experienced the same rapid growth.
As a member of the Project Guardian policymaker group, the Bundesbank will contribute to cross-border collaboration by working with other central banks and institutions to develop common standards and improve interoperability for this emerging technology.
The Ultimate Guide for Founders, CFOs, and Finance Teams Choosing the right fintech stack can make or break a company’s financial operations. Whether you are a B2B founder building a global marketplace, a CFO steering a SaaS scale-up, or a finance team tasked with managing complex payments, finding the best fintech tools is critical.
The launch of the new BVNK wallet will create a solution to this friction by providing users with direct access to blockchains and local and international payment schemes, all within a single solution. The post Greater Flexibility: BVNK Wallet Offers Stablecoin, Crypto and Fiat Payments All in One Place appeared first on The Fintech Times.
The 13 APAC companies featured this year span a diverse range of industries, including telecoms, financial institutions, tech giants, and fintech startups. It also offers payment, foreign exchange (FX) and banking services to other banks and fintech companies in the sector. DBS Bank serves more than 12 million customers in 19 markets.
The Wisconsin-based company is embedding the blockchain-based payments tool directly into its global financial infrastructure by the end of the year. The new stablecoin will be made available at no additional cost to clients, giving them access to a new, interoperable digital asset service to integrate into their banking and payment flows.
Furthermore, the report takes a forward-looking approach, incorporating forecasts for 2025 and exploring pivotal themes such as artificial intelligence in payments, the evolution of tokenisation and decentralised finance (DeFi), and the adoption of emerging technologies like blockchain, generative AI, and machine learning.
The real opportunity lies with banks, fintechs, and other types of card issuer companies that recognise ESG as a pathway to innovation, trust, and long-term value creation. DeFi and sustainable blockchain: Decentralised finance presents an opportunity to combine transparency with sustainability.
Ricky now serves as Managing Director for South Asia at TBCASoft, a global fintech driving next-generation cross-border NFC and QR person-to-merchant (P2M) payments using blockchain-based technology. It also supports interoperability across regions, helping to tie together different initiatives under a single, cohesive model.
Rain provides backend infrastructure – APIs, compliance layers and settlement logic – that enables fintechs and wallets to build and launch stablecoin-linked card programs. Rain’s technology stack allows for card transactions on the Visa network to be interoperable with stablecoins across multiple blockchains.
From mobile wallets to blockchain, artificial intelligence, and real-time payment infrastructures, technology is redefining financial accessibility, empowering individuals, and unlocking new economic opportunities. The business case for financial inclusion Beyond its social impact, McKinsey states that financial inclusion represents a $3.7
Using stablecoins to settle complicated crypto payments, Paydify , the universal gateway for crypto payments, has launched a new service which will enable businesses to accept crypto payments from any wallet or blockchain network. Merchants face technical complexity, conversion risk, and settlement delays.
X (formerly Twitter) has made its first decisive step into fintech, announcing a partnership with Visa to power its ambitious new digital wallet, X Wallet. The fintech pioneered the first phase of digital payments, enabling secure online transactions and laying the groundwork for future wallet technologies.
Location Joburg Followers 5 Opinions 22 Follow Unfollow Open Banking has moved from regulatory idea to industry reality, driving transformation by enabling secure, permissioned data sharing between financial institutions and third-party fintechs. The impact has been profound at a macro level.
However, PSPs must ensure their systems and processes support this capability, which may involve implementing blockchain analytics tools and strengthening compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. This also positions them as thought leaders in the sector.
Source: Sumsub Key issues include weak risk assessments, delayed rollout of the Travel Rule, and a lack of interoperability among compliance tools. VASPs must act decisively by adopting robust, interoperable risk mitigation frameworks that meet global standards and enable secure cross-border data exchange.
Under the Act, only approved and well-supervised issuers (think insured banks and properly licensed fintech firms) can circulate these coins, and they must back every token 1:1 with high-quality reserves like actual dollars or short-term Treasuries. By passing this law, U.S. This means the “stable” in stablecoin is now legally enforceable.
The deployment brings XSGD to a blockchain designed for large-scale tokenisation, enabling real-time payments and programmable financial flows for developers, fintechs, and institutions. XSGD is a stablecoin regulated by the Monetary Authority of Singapore (MAS) and backed 1:1 by reserves held with DBS Bank and Standard Chartered.
Blockchain-powered finance As the global demand for trusted, efficient, and interoperable digital payment solutions continues to accelerate, this partnership looks to set a new benchmark for the integration of blockchain-powered finance with institutional banking expertise, advancing the future of regulated, cross-border digital transactions.
Crucially, this initiative is critical for establishing a robust and interoperable ecosystem, where tokenised assets can be traded securely and efficiently across different jurisdictions. appeared first on Fintech Singapore. Featured image credit: Edited from Freepik The post Will Singapore Realise Its Tokenisation Dreams?
This facility includes key features such as issuance, transfer, and redemption of digital currency, as well as programmability with automated triggers and interoperability with existing financial market infrastructures. Participating financial institutions like DBS, OCBC, Standard Chartered, and UOB will trial these settlements.
This partnership is set to empower African communities, governments, and businesses, and represents a significant step toward realising the shared goal of financial inclusion and economic advancement across Africa, with blockchain and decentralised finance at the forefront of this transformation.
The rails we lay today - whether they’re open, interoperable and secure or fragmented and proprietary - will determine not just how fast value moves tomorrow, but how fairly it’s distributed and who gets to participate in the next wave of financial innovation. What’s the biggie with blockchain? to can our money move smarter?
Focus on real-time liquidity and blockchain integration By incorporating Circle’s Wallets infrastructure, OpenPayd plans to offer enhanced access to liquidity while facilitating the movement of funds across both traditional payment networks and blockchain rails.
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