Australian FinTech Firm Bizcap Expands into Singapore
Weekly APAC news up to Wednesday, 6th of November 2024.
👀 NEWS HIGHLIGHT
Bizcap, an Australia-headquartered FinTech firm, has on Monday announced its expansion plans into Singapore, along with the appointment of Joseph Lim as Asia Managing Partner.
Launching in the first quarter of 2025, Bizcap’s expansion into Singapore addresses a critical gap in the small and medium-sized enterprise (SME) financing landscape: the challenge of accessing quick and flexible capital, Bizcap said in a statement.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ Real-Time Payments: Economic Impact and Financial Inclusion.
⭐️ Kraken launches crypto derivatives for Australian wholesale clients.
⭐️ MAS Grants Gemini In-Principle Approval for Crypto Payment License.
⭐️ Standard Chartered, Ant complete HKD intra-group transactions.
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SINGAPORE 🇸🇬
Thunes and Circle to launch stablecoin-powered liquidity management solution. This collaboration enables Thunes’ network members to use USDC for faster, seven-day cross-border transactions, improving liquidity, reducing capital costs, and offering growth opportunities through cost-effective payments.
Anchorage Digital Singapore Pte Ltd receives Major Payment Institution licence from the Monetary Authority of Singapore (MAS). With this license, Anchorage Digital Singapore now offers a complete, integrated solution including custody, staking, trading, and settlement, including fiat on and off ramps.
HONG KONG 🇭🇰
Hong Kong’s ZA Bank begins sandbox pilot of crypto trading service. The Bank said that its trial initiative seeks to meet growing demand in Hong Kong, where a recent survey by the Hong Kong Investment Funds Association revealed that 75% of retail investors are interested in trading crypto.
INDIA 🇮🇳
Cashfree Payments gains regulatory approval to operate as a PPI provider. This enables the firm to issue prepaid payment instruments, such as cards or digital wallets, and opens up new opportunities for innovation in the payments landscape. Read on
Razorpay ‘s FY24 income grows after new products. The Tiger Global-backed Indian FinTech unicorn’s net income jumped 360% to 340 million rupees ($4 million) for the fiscal year ended March 31 compared with the previous year, according to a press release on Tuesday.
Amazon Pay India loss narrows as sales rise, expenses decline. Amazon Pay India’s loss narrowed almost 40% from the previous year to 9.1 billion rupees ($108 million), according to company filings sourced through Tofler. Keep reading
FinSecureLabs and LeoCompare partnership brings new remittance and payment products marketplace to India. The collaboration is set to enhance the experience of Indian consumers by providing a seamless and transparent solution for outbound remittance services and payment products.
INDONESIA 🇮🇩
Finfra raises US$2.5M, partners with Tyme for embedded lending in Indonesia. The investment will help Finfra scale its embedded lending solutions to support the country's digital SME ecosystem. Through the partnership, Tyme will use Finfra’s tools to launch embedded lending options, such as merchant cash advances, across Indonesia.
PHILIPPINES 🇵🇭
Wise granted access to Philippines’ InstaPay. Wise’s connection to InstaPay will enhance cross-border payments for its 13 million global customers and millions more from major banks and financial institutions. Continue reading