Frances Gagua

Funding to investment tech and cryptocurrency firms grew by over 5x since 2020.

Increased regulatory interest in sustainability will require financial institutions to address its ESG strategy, risk management, regulatory compliance, and data challenges.

This was thanks to Alibaba’s $5b offerings and a $2.5 bond issuance by SK hynix.

The central bank is willing to lend 60% of the required funds at a 1.75% rate.

SG’s regulator remains iffy on cryptocurrencies—or, in MD Menon’s words, crypto tokens.

By end-2021, HSBC will have 64 working in its China onshore private banking.

UOB, DBS, OCBC, and Standard Chartered are participating in the initiative.

Singapore and Philippines' remittance flows totalled S$2.89b last year.

Web 3.0 is taking over, but many businesses have yet to move past Web 1.5.

It will be generated based on their spending and saving habits.

Users will be able to convert crypto into traditional fiat money.

Heng kicked off the SFF 2021 and announced two new national AI programmes.

Banks and tech firms can use Fintech Virtual Lab to build and test innovations.

The non-performing loans rate remained unchanged at 1.5% during the quarter.

Over $1m and 3,698oz of precious metals have been purchased through the app.

Net trade income plunged 67%, slightly offset by stronger net fees and commissions.