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OCBC Becomes First Singapore Bank to Use Blockchain for Intraday Lending

Fintech News

By utilising blockchain technology, the exchange of cash and securities becomes near-instantaneous, a significant improvement over traditional repo markets where the process can take at least one business day. OCBC reportedly completed its first reverse repo transaction on 11 October 2024, with a maturity of less than 120 minutes.

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GoTyme Indonesia Offers Flexible Financing for MSMEs with Danabijak, Olsera

Fintech News

This means repayments fluctuate in line with a business’s revenue cycle. Approved loans are typically disbursed within two business days. There is a single, upfront fee, with no hidden charges or penalties.

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Circle Launches Stablecoin Payments Network for Cross-Border Settlements

Fintech News

Circle stated the initiative addresses inefficiencies in cross-border payments, which can often take more than a business day and incur significant costs, citing World Bank data highlighting average costs exceeding 6%.

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Dojo and YouLend Partnership Fuels UK SME Success with £1 Billion Funded

Fintech Finance

Neil Richards, General Manager Business Funding at Dojo, comments: “Dojo’s partnership with YouLend has enabled Dojo to help SMEs thrive in the experience economy. ” Following the £1 billion milestone, the two fintechs will continue to scale their partnership and expand business funding to new European markets this year.

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Aspire Clinches MAS License to Roll Out Investment Product for Businesses

Fintech News

Aspire Yield will invest in money market funds managed by Singapore-based asset managers and offer flexible access with no minimum investment, no lock-up period, and next business day liquidity. The feature is currently in private beta, with a waitlist open to interested businesses.

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Here’s Everything We Know So Far About The Chocolate Finance Service Disruption

Fintech News

Earlier today, a notice published on the company’s mobile app indicated processing delays , causing withdrawal requests to take up to 10 business days to settle.

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Rapid Finance Expands Availability of Rapid Access Prepaid Mastercard® to All Business Line of Credit Clients

Fintech Finance

Eligible new clients will automatically receive their card within 5-7 business days of opening their LOC, and clients with business lines of credit funded prior to Oct. The Rapid Access Card can be used for purchases wherever Mastercard is accepted, and cardholders will fund the card with a draw from their LOC account.

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