Both nations will build a framework for bilateral cooperation to drive trade and investment in the fintech sector and support efforts from their local fintech companies to expand in each other's markets.
Singapore Fintech Association forms working group to establish a buy now, pay later (BNPL) framework, which will include enforcement measures, to safeguard consumer interests and prevent risks of "over-indebtedness".
E-commerce platform gives shoppers in Singapore and Malaysia the option to make their purchases via Pace Enterprise's buy now, pay later service, spreading their spend over three monthly instalments.
Emerging markets are more receptive towards cryptocurrency than developed nations, with residents in the former more likely to have invested in it, reveals new global study.
Investments in Singapore's fintech sector climbed 37% to reach $3.94 billion in 2021, with blockchain and crypto funding raking in almost half the figure at $1.48 billion.
Monetary Authority of Singapore warns again about the high risks involved in cryptocurrency trading and instructs providers of such services not to publicly promote or advertise their offerings, as doing so may encourage consumers to trade on impulse.
YouTrip secures $30 million in its Series A funding round, which the neobank will use to beef up its payment products in the business-to-business segment and expand its Southeast Asian footprint.
Singapore's buy now, pay later fintech player, Pace, has secured $40 million in Series A funding, pulling in investors such as Japan's Marubeni Ventures and South Korea's Atinum Partners.
Previously CIO of Asian Development Bank, Shirin Hamid will assume her new position at International Monetary Fund on January 4 after a global search, when she will guide the IMF to "modernise the digital workplace".
Singapore bank unveils plans to invest up to SG$500 million to beef up its digital capabilities and drive efforts to double the number of retail customers across Asean to seven million by 2026.