FintechNews.sg – Weekly Newsletter March 28, 2026

Posted on March 28, 2026 at 08:16 PM

FintechNews.sg – Weekly Newsletter

Period: March 21 – March 28, 2026


📝 Executive Summary

This week saw significant momentum in cross-border payments infrastructure and stablecoin integration, with Visa joining the Canton Network as a Super Validator and Triple-A partnering with Circle for stablecoin settlements—signaling growing institutional adoption of onchain payment rails across APAC. Singapore remains a strategic hub, with EBANX establishing its APAC headquarters there and multiple firms (Tazapay, dtcpay) securing funding to scale stablecoin-enabled payment networks.

Regulatory clarity continues to drive digital asset activity: Thailand’s SEC opened public consultation on Travel Rule compliance, while Vietnam advanced toward licensing its first crypto exchanges. MAS reinforced its proactive stance with the release of an AI Risk Toolkit and expansion of the BLOOM initiative, now joined by Ripple for tokenised trade settlement pilots.

AI adoption in financial services accelerated notably, with HSBC appointing its first Chief AI Officer amid workforce restructuring, Mastercard deploying generative AI for fraud detection, and MAS collaborating with 24 institutions on Project Mindforge to address AI vendor risk. These developments underscore a sector-wide shift from AI experimentation to operational integration—with risk governance keeping pace.


  • Stablecoins move from pilot to production: Multiple partnerships (PayPal, Circle, Thunes, Triple-A) indicate institutional-grade stablecoin infrastructure is now viable for cross-border B2B settlements in APAC.
  • AI risk governance becomes non-negotiable: Regulators (MAS) and institutions are co-developing frameworks like Project Mindforge, reflecting heightened focus on third-party AI vendor accountability.
  • Consolidation in digital banking: Kredivo’s acquisition of Vietnam’s Timo and Revolut’s profitability in Singapore signal maturation—scale and unit economics now outweigh growth-at-all-costs strategies.
  • Cross-border QR and UPI expansion: WeChat Pay-LankaPay integration and India-Bhutan UPI postal remittance highlight the region’s push for interoperable, low-cost remittance corridors.
  • Payments innovation targets SMEs and travel: Mastercard’s APAC SME suite, Trip.com/Checkout.com partnership, and FOMO Pay’s multi-rail soundbox reflect vertical-specific payment optimisation.

🇸🇬 Singapore

Payments

  • [Chinese Tourists Can Now Use WeChat Pay at LankaPay Merchants in Sri Lanka] (March 27, 2026)
    Sri Lanka’s LankaPay integrated WeChat Pay to enable Chinese visitors to transact at 400,000+ LANKAQR merchants, expanding cross-border QR acceptance.
    Source: https://fintechnews.sg

  • [Visa Offers In-App Subscription Management Tool for Card Issuers] (March 27, 2026)
    Visa launched Enhanced Subscription Manager, enabling issuers to help customers track and manage recurring payments directly within banking apps.
    Source: https://fintechnews.sg

  • [Mastercard Weighs Sale of Nets Payments Unit Acquired in US$3.2 Billion Deal] (March 27, 2026)
    Mastercard is reportedly evaluating the divestment of its Nets account-to-account payments business acquired in 2019, as part of portfolio optimisation.
    Source: https://fintechnews.sg

  • [Tazapay Raises US$36 Million in Series B Extension Led by Circle Ventures] (March 27, 2026)
    Singapore-based cross-border payments firm Tazapay secured additional funding to expand stablecoin and fiat payment rails for e-commerce merchants.
    Source: https://fintechnews.sg

  • [FOMO Pay Launches Merchant Soundbox for Cards, PayNow and Stablecoins] (March 25, 2026)
    FOMO Pay introduced a unified soundbox device enabling Singapore merchants to accept cards, PayNow, QR, and stablecoin payments with instant audio confirmation.
    Source: https://fintechnews.sg

  • [PayPal Offers Stablecoin Access to Singapore Businesses in 70-Market Expansion] (March 21, 2026)
    PayPal extended PYUSD stablecoin acceptance to Singapore-based businesses, enabling cross-border settlements across 70+ markets via its merchant network.
    Source: https://fintechnews.sg

Digital Banking

  • [Revolut Singapore Stays Profitable in 2025 as Subscription Revenue Jumps 75%] (March 24, 2026)
    Revolut Singapore reported continued profitability with strong growth in subscription-tier adoption, reflecting increased user engagement with premium features.
    Source: https://fintechnews.sg

  • [MariBank Rolls Out Singapore Equities Investment Product from S$1] (March 24, 2026)
    MariBank launched a fractional equities product allowing customers to invest in Singapore-listed stocks from S$1 with zero commission.
    Source: https://fintechnews.sg

  • [DBS Restores Digital Banking Services After First Outage of 2026] (March 19, 2026)
    DBS and POSB digital services were restored after a morning outage affecting mobile and internet banking, marking the bank’s first major disruption this year.
    Source: https://fintechnews.sg

Crypto / Digital Assets

  • [Ripple Joins MAS’ BLOOM Initiative for Trade Settlement Pilot] (March 25, 2026)
    Ripple partnered with Unloq to participate in MAS’ BLOOM initiative, piloting tokenised trade settlement using blockchain infrastructure.
    Source: https://fintechnews.sg

  • [Triple-A Taps Circle for Cross-Border Stablecoin Settlement] (March 26, 2026)
    Triple-A integrated Circle Payments Network to enable stablecoin-based cross-border settlements in local currencies for institutional clients.
    Source: https://fintechnews.sg

  • [dtcpay Raises US$10 Million to Expand Global Stablecoin Payments Network] (March 22, 2026)
    Singapore-based dtcpay secured Series A funding to scale its licensed stablecoin payout infrastructure across new APAC and EMEA markets.
    Source: https://fintechnews.sg

AI in Finance

  • [MAS Releases AI Risk Toolkit as Generative and Agentic AI Gain Ground] (March 23, 2026)
    MAS published a practical AI risk management toolkit developed with 24 financial institutions to address governance challenges in generative and agentic AI deployment.
    Source: https://fintechnews.sg

  • [24 Leading Institutions in Project Mindforge Spotlight AI Risk in Vendor Contracts] (March 24, 2026)
    Project Mindforge participants released guidance on embedding AI accountability clauses in third-party vendor agreements, emphasising institutional liability.
    Source: https://fintechnews.sg

  • [IMDA Launches AI Bootcamp to Help Local Firms Move Beyond Pilot Projects] (March 23, 2026)
    Singapore’s IMDA launched an AI adoption bootcamp targeting fintechs and SMEs, providing technical resources and regulatory guidance to accelerate production deployment.
    Source: https://fintechnews.sg

InsurTech

  • [Grab Offers Motor Insurance for Singapore Private-Hire Drivers] (March 21, 2026)
    GrabInsure launched a tailored motor insurance product for private-hire drivers in Singapore, with flexible coverage aligned to gig-work patterns.
    Source: https://fintechnews.sg

  • [Singlife Appoints Former MAS Official Leo Mun Wai to Board] (March 25, 2026)
    Singlife appointed ex-MAS director Leo Mun Wai as Independent Non-Executive Director to strengthen governance and regulatory strategy.
    Source: https://fintechnews.sg

RegTech / Security

  • [Singapore Arrests Two More Malaysians Over Govt Official Impersonation Scam] (March 24, 2026)
    Singapore Police arrested two additional suspects in a cross-border impersonation scam targeting citizens via fake government communications.
    Source: https://fintechnews.sg

Infrastructure / B2B Fintech

  • [EBANX to Open New APAC Headquarters in Singapore] (March 21, 2026)
    Global payments firm EBANX will establish its APAC HQ in Singapore to support regional expansion and regulatory licensing.
    Source: https://fintechnews.sg

  • [MetaComp Secures US$35 Million in Pre-A+ Funding to Expand Web2.5 Platform] (March 21, 2026)
    Singapore-based MetaComp raised Pre-A+ funding to scale its unified Web2.5 payments and wealth infrastructure for institutional clients.
    Source: https://fintechnews.sg

  • [Grab to Buy Back Up to US$400 Million in Shares Over the Next Four Months] (March 25, 2026)
    Grab announced a share buyback programme of up to US$400 million, signalling confidence in its financial position and commitment to shareholder returns.
    Source: https://fintechnews.sg


🌏 Southeast Asia

🇻🇳 Vietnam

Crypto / Digital Assets

  • [Vietnam Police Detain ONUS-Linked Suspects in Multi-Billion Dollar Crypto Fraud Probe] (March 27, 2026)
    Vietnamese authorities detained suspects linked to ONUS exchange in a large-scale investigation into alleged cryptocurrency fraud involving billions in assets.
    Source: https://fintechnews.sg

  • [Five Firms in the Running to Launch Vietnam’s First Licensed Crypto Exchanges] (March 21, 2026)
    Five companies are competing to become Vietnam’s first licensed crypto exchange operators, as regulators finalise the digital asset licensing framework.
    Source: https://fintechnews.sg

Payments

  • [2C2P and M-PAY to Expand Digital Payment Options for Sun PhuQuoc Airways] (March 19, 2026)
    2C2P partnered with M-PAY to provide integrated payment processing for Sun PhuQuoc Airways, enabling multi-currency and local wallet acceptance in Vietnam.
    Source: https://fintechnews.sg

Digital Banking / Lending

  • [Kredivo Group Acquires Vietnamese Digital Bank Timo in Regional Push] (March 21, 2026)
    Indonesia-based Kredivo Group acquired Vietnam’s digital bank Timo to accelerate its regional expansion in digital banking and BNPL services.
    Source: https://fintechnews.sg

🇹🇭 Thailand

Payments

  • [Wise Secures Five Licences to Roll Out Wallet and Card Services in Thailand] (March 21, 2026)
    Wise obtained all required regulatory approvals to launch multi-currency wallets and debit cards for Thai consumers and businesses.
    Source: https://fintechnews.sg

Crypto / Digital Assets

  • [Thai SEC Seeks Public Feedback on Travel Rule for Digital Asset Transfers] (March 21, 2026)
    Thailand’s SEC opened public consultation on proposed Travel Rule requirements for virtual asset service providers to enhance AML/CFT compliance.
    Source: https://fintechnews.sg

  • [DV8 to Acquire Rakkar Digital, Plans Up to US$3 Million Capital Injection] (March 26, 2026)
    DV8 Public Company agreed to acquire crypto firm Rakkar Digital with a planned capital injection to expand digital asset services in Thailand.
    Source: https://fintechnews.sg

🇰🇭 Cambodia

Payments

  • [BIDC Migrates to BPC’s SmartVista, Expanding Card Services and Payments in Cambodia] (March 21, 2026)
    BIDC bank went live on BPC’s SmartVista platform to enhance card issuance, payment processing, and digital banking capabilities in Cambodia.
    Source: https://fintechnews.sg

🇲🇾 Malaysia / 🇮🇩 Indonesia / 🇵🇭 Philippines

No updates this week.


🌏 Asia (Excluding SEA)

🇮🇳 India

Digital Banking

  • [Revolut Targets 5,500 India Staff by End-2026 Under £500 Million Investment] (March 27, 2026)
    Revolut announced plans to expand its India workforce to 5,500 by end-2026 as part of a £500 million investment in technology and compliance infrastructure.
    Source: https://fintechnews.sg

Payments

  • [India and Bhutan to Launch UPI-Linked Postal Remittance Service] (March 25, 2026)
    India and Bhutan will introduce a cross-border remittance corridor linking their postal networks with UPI for low-cost, real-time person-to-person transfers.
    Source: https://fintechnews.sg

  • [Razorpay Debuts AI-Native Agent Studio for Payments, Powered by Claude] (March 21, 2026)
    Razorpay launched an AI agent studio using Anthropic’s Claude SDK to enable merchants to automate payment operations and customer support workflows.
    Source: https://fintechnews.sg

🇰🇷 South Korea

Payments

  • [iPiD Expands Korea Footprint Through DOZN and Hana Bank Partnerships] (March 26, 2026)
    iPiD partnered with DOZN and Hana Bank to deploy its payee verification and fraud prevention tools across Korean digital payment ecosystems.
    Source: https://fintechnews.sg

🇨🇳 China / 🇭🇰 Hong Kong / 🇯🇵 Japan / 🇦🇺 Australia / 🇳🇿 New Zealand

No updates this week.


🌍 Global

Crypto / Digital Assets

  • [Visa Joins Canton Network to Support Onchain Payment Flows] (March 26, 2026)
    Visa became the first payments firm to join the Canton Network as a Super Validator, supporting institutional-grade onchain payment settlement.
    Source: https://fintechnews.sg

  • [Matrixport Rebrands as BIT as It Explores Possible U.S. Public Listing] (March 20, 2026)
    Matrixport rebranded to BIT to reflect its expanded digital asset infrastructure focus, amid reports of preparations for a potential U.S. public listing.
    Source: https://fintechnews.sg

  • [Independent Reserve Expands APAC Offerings Following IG Group Acquisition] (March 21, 2026)
    Independent Reserve announced expanded institutional crypto services across APAC after its acquisition by IG Group, including custody and trading solutions.
    Source: https://fintechnews.sg

  • [Crypto.com Cuts About 12% of Workforce Citing AI Shift] (March 23, 2026)
    Crypto.com announced a workforce reduction of approximately 12%, citing strategic realignment toward AI-driven product development and operational efficiency.
    Source: https://fintechnews.sg

AI in Finance

  • [HSBC Names David Rice as First Chief AI Officer as It Weighs Job Cuts] (March 24, 2026)
    HSBC appointed David Rice as its inaugural Chief AI Officer while conducting a multi-year review that could reduce ~20,000 roles through automation.
    Source: https://fintechnews.sg

  • [Mastercard Builds Generative AI Model for Payment Insights, Fraud Detection] (March 21, 2026)
    Mastercard is developing a generative AI model trained on anonymised transaction data to enhance fraud detection and merchant insights globally.
    Source: https://fintechnews.sg

  • [Xero Users to Get Access to Claude for Real-Time Financial Analysis, Planning] (March 27, 2026)
    Xero partnered with Anthropic to integrate Claude AI into its platform, enabling small businesses to generate real-time financial insights and forecasts.
    Source: https://fintechnews.sg

  • [Snowflake Debuts AI Platform to Automate Tasks for Business Users] (March 19, 2026)
    Snowflake launched Project SnowWork, an autonomous task execution platform allowing non-technical users to automate data and finance workflows via AI.
    Source: https://fintechnews.sg

Payments

  • [Trip.com Taps Checkout.com to Ease Travel Payments] (March 26, 2026)
    Trip.com partnered with Checkout.com to optimise global payment acceptance, reduce friction, and improve conversion for cross-border travel bookings.
    Source: https://fintechnews.sg

  • [Thunes Enables Stablecoin Payouts for Banks With Existing Swift Infrastructure] (March 21, 2026)
    Thunes enabled banks to send real-time stablecoin payouts via existing Swift rails, bridging traditional and digital asset payment networks.
    Source: https://fintechnews.sg

Digital Banking

  • [Circles Taps Airwallex to Add Digital Banking Capabilities for Telcos] (March 21, 2026)
    Circles partnered with Airwallex to enable telecom operators to embed digital banking services—including accounts and cards—across 70+ markets.
    Source: https://fintechnews.sg

RegTech / Security

  • [Sumsub Taps ComplyAdvantage to Expand AML Screening Capabilities] (March 27, 2026)
    Sumsub integrated ComplyAdvantage’s AML data into its identity platform to enhance real-time sanctions and PEP screening for global clients.
    Source: https://fintechnews.sg

InsurTech

  • [Chubb Names Seshadri Iyer EVP for Operations, Technology and Digital Transformation] (March 21, 2026)
    Chubb appointed Seshadri Iyer as EVP to lead global operations, technology strategy, and digital transformation initiatives across its insurance business.
    Source: https://fintechnews.sg

Funding / M&A

  • [Former New Zealand Prime Minister Sir Bill English Joins Airwallex as Board Chair] (March 26, 2026)
    Airwallex appointed former NZ PM Sir Bill English as Board Chair to guide global expansion and regulatory strategy across key growth markets.
    Source: https://fintechnews.sg

  • [DBS and Bank of China to Deepen Cooperation on RMB, Trade, and Regional Finance] (March 26, 2026)
    DBS and Bank of China announced expanded collaboration on RMB internationalisation, trade finance, and sustainable finance solutions across Asia.
    Source: https://fintechnews.sg