Yi San Lee

The co-founders, board and team members will continue to hold the majority ownership in Sygnum. Read here: https://lnkd.in/g95y62_t -with Sygnum Bank Mathias Imbach Gerald Goh #fintech #digitalasset #funding

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The co-founders, board and team members will continue to hold the majority ownership in Sygnum. Read here: https://lnkd.in/g95y62_t -with Sygnum Bank Mathias Imbach Gerald Goh #fintech #digitalasset #funding

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Look at the companies I've sampled below. What is a common among them? 1. Google 2. Apple 3. Microsoft 4. Facebook (Meta) 5. Amazon 6. IBM 7. Intel 8. Cisco Systems 9. SAP 10. Oracle 11. Pfizer 12. Procter & Gamble 13. Johnson & Johnson 14. Coca-Cola 15. PepsiCo 16. Unilever 17. Nestlé 18. Diageo 19. HSBC 20. Standard Chartered 21. Goldman Sachs 22. Citibank 23. JPMorgan Chase 24. Deutsche Bank 25. Barclays 26. UBS 27. Credit Suisse 28. AIG 29. ExxonMobil 30. Chevron Its #Singapore! They all have their regional HQs right here in this tiny red dot. Listed market cap value is about USD13trn. Trawling through some dated data, they employ about 70,000 staff (may not be completely accurate) here in Singapore. That's 70,000 families' ability to pay for mortgages, kids' education etc. So China is the latest country to discover the magic of doing business in Singapore. Its not just about access to technology or capital but also to fast connectivity in this age of data and Artificial Intelligence (AI). I gather that Singapore currently has at least 17 active submarine cables connections... with potential bandwidth of >400Tbps... and we are going to double that. Indeed, data is the new oil. In fact, I think only China has more undersea cables than Singapore... and that says a lot. What can 400tbps do? We could do ~266m simultaneous HD video calls (for work)! or simultaneously stream 16m 4k videos (for leisure). #justsaying Kudos to Singapore Economic Development Board (EDB). They foresaw the move from petrochemicals (Jurong Island) to pharma to tech (software, AI, digital assets even). Jacqueline Poh #singapore https://lnkd.in/gS3_8Bbe

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UPSIDER Secures $104M in Series D Funding to Expand FinTech Innovations UPSIDER, a Tokyo-based FinTech startup, has successfully raised ¥15.4 billion (approximately USD 104 million) in Series D funding. This milestone includes ¥5.5 billion (USD 37 million) in equity financing and ¥9.9 billion (USD 67 million) in cumulative debt financing since early 2024. Key investors include Tencent, Global Brain, Japan Airlines, and SMBC Venture Capital. The funds will drive UPSIDER’s growth in existing services, such as its corporate card platform and payment solutions, and the development of AI-driven innovations like “UPSIDER Coworker.” Since its inception, the company has rapidly scaled, with over 60,000 corporate users and a payment volume exceeding ¥450 billion (USD 3 billion). This strategic move underscores UPSIDER’s mission to build a global financial platform that supports business innovators and accelerates corporate growth both domestically and internationally. This is a prime example of how Japan’s startups are evolving into global players with transformative technologies. #FinTech #Innovation #FundingNews #Startups #UPSIDER #AI #GlobalGrowth https://lnkd.in/gaW5yDdd

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HKMA Wants Banks to Upgrade Financial Crime Systems with AI: Hong Kong’s de facto central banking is asking banks to significantly upgrade suspicious activity monitoring capabilities as it prepares for another FATF review in 2025. #hkma #ai

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Another RoboAdvisor's downfall proves exactly that they can't even manage their own finance while providing investment advice via the software they make. How fraudulent this market can be more? I once explained why these systems don't work (post still on LinkedIn). If you really believe in your market analyzing why don't invest by yourself but spend time to deceive users instead. That's why we at BlackFox Trading will forever be a private firm. There're VC's knocks but my default reply is: No. I keep building new startups and we need you on that, not this. Though we can help other fintech startups build an effective product. Feel free to contact me like so.

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Back to where it all started for me📍 My love for fintech began when I joined the team to lead the growth of Google Pay. It's also what brought me here, to Singapore. After all these years, I never imagined my startup would bring me back to the Google campus! My team and I have been working to make Peek your personal CFO. Tracking your net worth and assets across different banks, brokerages, crypto wallets, and fintech apps is just the beginning. We've been testing various AI tools like custom GPTs, and AI agents to give you intelligent insights across your financial life. Like your portfolio performance, asset allocation, or your progress towards financial goals like retirement. Google's next-generation AI model, Gemini 1.5, has proven surprisingly powerful. It can process up to 1 million tokens in a single context window. Put simply, this means it can process and recall large documents, entire books, or hold extensive conversation histories in one go - instead of having the memory of a goldfish 😂 I've talked with some folks here who work closely with the labs team working on Gemini for startups. Fingers crossed, we can work with them to make Peek even more capable of taking care of your finances, so you can focus on living your life🤞🏻

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Beware if you are asked for an OTP and you did not receive it. Since Friday night, I could not receive OTP for a messaging app. I jumped to the conclusion that it is due to the application. On Sunday morning, I discovered that I could not receive any incoming calls and SMS. Outgoing was OK. Called the carrier for help. After 1 director, 4 duty managers, 5-6 call agents, my issue has not be resolved. On the second call, they knew that my calls and SMS has been diverted to another carrier and number. Callers told me some one answered and hung up. The carrier said it is a complicated issue. Made a police report, disabled those apps that I can. Good to see PM highlighting the weakness of OTP but hoping to see action by the regulators as well as the carrier fixing my issue. To the Director at the contact center, as at midnight, no update from you. What is the point of exchanging numbers. https://lnkd.in/ebrm5PxM

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Singapore’s fintech scene continues to innovate! OKX's integration of PayNow and FAST enables zero-fee SGD transfers, signaling a push for seamless, cost-effective digital finance solutions. This move underscores the rising demand for accessible cross-platform services.  As an Asia specialist, we see how such advancements are driving demand for top talent in payments, crypto, and digital finance. The big challenge? Attracting leaders ready to reshape the future of financial ecosystems.  What trends are you noticing in fintech hiring?  Adrian Yuen Paige Fong Daniel Ng Weetheng Heng Richard C. Scott Thompson https://lnkd.in/gj5ECTT4 #Fintech #Recruitment #DigitalInnovation 

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Shared my views with ChinaDaily.com.cn on Hong Kong’s SME lending landscape. “We believe the key to plugging Hong Kong’s stubborn SME credit gap lies in algorithm-based lending by utilizing alternative data to develop customized SME credit scoring models that can prequalify loans,” says Benjamin Quinlan, CEO and managing partner of Quinlan & Associates. “This approach not only helps to address previously underserved customer segments, but also streamlines the current SME lending journey.” According to the business advisory firm, Hong Kong’s current addressable SME credit gap stands at HK$170 billion. As the economy slows down, leading to a poor lending appetite among banks, coupled with the fact that more businesses still need funding, the firm expects the funding gap to widen to HK$200 billion by the end of this year. Quinlan says the footprint data relating to the entire value chain of SMEs, such as business orders, purchases, payrolls, sales receipts, accounting software, trade receipts, customs data, e-commerce data, and even geolocation data of business venues, can be used to assess SMEs’ profits and losses, and then to evaluate how creditworthy the SMEs are. Lending based on real-time financial information can decouple the need for collateral in loan applications. “These are useful in determining the real-time financial health of a company, and it is very important to ensure that the agenda of financial inclusion is taken into consideration,” Quinlan says. According to Quinlan, the future paradigm in SME lending is an automatic credit model, and integrating data and checking credit-scoring algorithm will be the two most important elements. He emphasizes that lenders, small businesses and the government have a role in cementing this pattern shift in SME lending, adding that “banks have to develop more digital banking services, infrastructures and credit scoring capabilities. The government must be able to push the agenda in terms of regulation, while SMEs need to make digital investments”. Quinlan says, “Even though the CDI has created a data repository that can be used to evaluate the creditworthiness of businesses, the administration still needs to connect the data effectively with other financial institutions. It has to provide the right kind of incentive arrangements for data providers to share data on the CDI platform.” If you’d like to find out more about Hong Kong’s SME lending landscape, download our full report: https://lnkd.in/ghR7gc2m #sme #smallbusiness #lending #smeloan #businessloan #banking #hongkong https://lnkd.in/gtkBT5MM

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GXS Bank secures S$229.5 million from Singtel and Grab #GXSBank, Singapore’s pioneering #fintech digital banking entity, has announced a significant capital injection of S$229.5 million (approximately $169 million) from prominent backers Singtel and Grab. This substantial funding boost underscores the growing confidence in GXS Bank's mission to provide transformative financial solutions. The majority of the S$229.5 million was secured through the issuance of shares priced at S$1 each. Grab acquired the lion’s share with 191.8 million shares, while Singtel was allocated 37.7 million shares. This information comes from a new regulatory filing with the Accounting and Corporate Regulatory Authority of Singapore, as reported by Tech in Asia. GXS Bank is led by Muthukrishnan Ramaswami  with a vision to revolutionize the banking experience, particularly for gig workers and traditionally underserved customers. By leveraging advanced digital technologies, GXS Bank offers a mobile banking platform that empowers users to automate their savings and earn a daily interest of 3%. Additionally, customers can set specific financial targets, such as an emergency fund, holiday, or new bike, allowing them to monitor progress and easily distribute funds towards their goals. The involvement of #Singtel and #Grab as major investors not only provides GXS Bank with the necessary capital to expand but also enhances its strategic positioning in the market. Singtel's extensive telecommunications network and Grab's dominance in the ride-hailing and delivery sectors offer synergistic opportunities for GXS Bank to reach a broader audience and integrate innovative services. The article on FinTech Global in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://lnkd.in/d4h8zqKA  - Substack: https://lnkd.in/dzfGJzmW

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Those who do not follow China’s payments sector closely may not have heard of LianLian Digitech, a Hangzhou-based fintech firm that presides over an ascendant cross-border payments network and counts among its strategic partners American Express. LianLian has leaned hard into market segments not dominated by the duopoly of Alipay and Tenpay, especially cross-border payments. According to its official website, LianLian was established in 2003, which makes it even older than Alipay (established in 2004) as well as any Tencent payments platform. However, LianLian’s earliest business scope is not well known. It emerged as a company to watch in China’s payments sector when it teamed up with Amex for the first time – in 2012. That tie-up involved Amex making a US$125 million equity investment in LianLian Pay, the Chinese company’s e-wallet and a partnership involving the then-Amex digital wallet Serve. While Serve has vanished into obscurity, the Amex-LianLian partnership has endured, and the two companies’ joint venture received a renminbi clearing license in June 2020, making the Amex the first of the three U.S. card giants to obtain a license allowing it to process domestic transactions. Meanwhile, LianLian’s cross-border payments business has been growing briskly. It now has 64 payment licenses and relevant qualifications, covering seven major markets, among them Hong Kong, Mainland China, Singapore, the United States, the United Kingdom, Thailand, and Indonesia. In its annual report published May 8, LianLian said that in 2023, its number of active customers reached 1.3 million, a year-on-year growth of 51%, while total payment volume rose 74% year-on-year to RMB 2 trillion. The company’s financial performance in 2023 was also solid. Its overall revenue grew 38% year-on-year to RMB 1.03 billion, while its gross profit margin was 56%. Looking at its different payment services, global payment revenue grew by 37% to RMB 660 million, while domestic payment revenue rose 44% to RMB 220 million and value-added services revenue increased by 47% to RMB 130 million. LianLian’s strong, stable growth in recent years makes it an outlier in China’s fintech sector, where tech giants like Alipay have been struggling to restructure amid heavy regulatory scrutiny. We think that LianLian’s focus on payments has been crucial to its strong performance. The company has not – at least not overtly – tried to grab market share in retail banking, wealth management and other segments of financial services where regulators see fintechs' presence as aggravating risk. In contrast, payments is a segment where China’s regulators continue to see an important role for fintech firms. #lianlian #china #payments #alipay #wechatpay #fintech https://hubs.li/Q02xkMGc0

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What’s the latest on #digitalassets regulation in APAC, where is it heading and how are industry players navigating the changes? Tune in to Policy Pulse: Asia Pacific and hear from Chainalysis Head of Policy for APAC Chengyi Ong, Sean Lee of Crypto Council for Innovation and Aaron Chua of StraitsX as they uncover the state of the digital assets landscape. Register here: https://bit.ly/4daVQ2a

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Genesis Alternative Ventures’ latest move to close its second debt fund at $125M, despite being at the lower end of its target, highlights the changing dynamics in Southeast Asia's startup ecosystem. As venture valuations remain depressed and the global economic outlook remains uncertain, the pressure on founders to prove sustainable growth without relying on equity is higher than ever. This fund underscores a growing trend: venture debt is increasingly becoming a lifeline for start-ups. With traditional equity funding harder to come by, especially for high-risk, unprofitable ventures, debt financing is emerging as a critical tool for startups to sustain operations. But while venture debt provides temporary relief, it's important to recognize the potential risks it poses for companies lacking assets or profitability. 💡 Key Risks: Taking on high-interest loans when a business is unprofitable and lacks collateral can be a slippery slope. Without a clear path to profitability, startups relying on venture debt may find themselves in a deeper financial hole: 1. Mounting Debt: High-interest loans accumulate quickly, and if a company fails to reach profitability, repaying this debt can become an overwhelming burden. 2. Limited Options: Startups that fail to improve their financial health while carrying debt will have fewer funding options moving forward, as investors and lenders alike may shy away from a struggling company. 3. Increased Risk of Insolvency: Without profits or assets to fall back on, startups may be forced to rely on more debt to cover their expenses, which increases the risk of insolvency if growth targets are not met. 📉 While venture debt can provide crucial runway for growth, it’s not a substitute for a solid, sustainable business model. For many startups, taking on debt without a clear and achievable path to profitability could be a short-term solution with long-term consequences. I also cannot help but wonder if lenders are not too optimistic here, they are chasing higher return on their money, but risking they will later be worried about the return of their money.

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FCC ANALYTICS RegTech Innovation Day 2024 - Addressing the HKMA Circular on Use of A.I for Monitoring Suspicious Activities and Gen A.I Sandbox FCC Analytics in Asia Pacific is pleased to invite you to the FCC Analytics RegTech Innovation Day 2024 on 1 November 2024 at HKSTP Wheelock Gallery from 2:00 PM to 6:00 PM. This year marks the second year of FCC Analytics organising this event, which is a satellite event of Hong Kong FinTech Week 2024. Our focus will be on how the banking industry can prepare for the HKMA circular on the use of AI for monitoring suspicious activities and the launch of the HKMA Generative AI Sandbox. Join us for insightful discussions, where representatives from FCC ANALYTICS and KPMG will share their expertise and insights. This is an invitation-only event, designed to foster meaningful connections within the industry. At the end of the event, there will be a networking session for industry practitioners, providing a fantastic opportunity to connect with fellow leaders in the field. We would like to extend our gratitude to our supporting organizations, HKSTP - Hong Kong Science and Technology Parks Corporation, Invest Hong Kong, and KPMG China, for their invaluable support in making this event possible. Chad Olsen Lilian Sin Ricky Li Derek Chim Annie Chung Ernest MA (MA Hok Wang)Philip Cheung Isabella Wong Wallace Chow If you have not received an invitation from us, please contact us at [email protected]. We look forward to an inspiring day of innovation and collaboration! #RegTech #Fintech #HKMA #AI #Innovation #Networking #HongKongFintechWeek2024 #Banking #AML #Transaction #TransactionMonitoring #GenAI #HKSTP #KPMG #InvestHongKong #Australia #Singapore

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** Thought Leadership by Sergey Nazarov during my #HK visit ** (with my small own commentary) - #CCIP for blockchain is being made to be sought of what #TCIP is for Internet connectivity - There were physical contracts which now are already electronically signed. In future for more security, all contracts would be #Cryptographically signed. This would be dawn of reliable digital internet of contracts era - #PrivateKey would be your sought of social security number for signing Internet of contracts - The watershed moment of big regulated institution adopting digital asset class has begun. Several offerings such as custody etc already started - Data transfer (or Asset transfer layer / Ownership layer etc) & Value transfer (Payment transfer layer) are 2 separate layers which are getting merged due to tokenization. This bring efficiencies at large scale - Era of #GoldenRecords is setting, the single proof of truth. It will be ledgerised internet world. Data Islands / several ledgers will need connectivity. - Only post this secondary markets of Internet of Contracts can begin (Say Defi 3.0) - Currently Sales Side demand of Tokens exist but not Buy side on internet of contracts. Regulations will open the gates slowly for them. - SG <> Dubai <> HK offers the Asia Trio of connectivity, spearheading all of above #ChainLink Peter Brewin Web3 Harbour Kathy Brewin

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So, Is Crypto Mass Adoption Happening Anytime Soon? Well, According To Animoca Brand's, Yat Siu, It's Just, 12–18 Months Away... 🚀🚀 Yat Siu, believes mass adoption is closer than one may think, and that blockchain gaming will be the catalyst. There is a longstanding debate within the crypto community over which blockchain use case will be the first to usher in widespread mass adoption. For some, the answer is Bitcoin’s store-of-value nature, while others believe NFTs, are going to explode. However, Yat Siu, firmly believes, the primary catalyst for mass adoption will be gaming, and we are closer to that future than many realize. #GamingIsTheFutureOfCryptoMassAdoption... 🎮 🎮 Siu, argued, “i actually think we’ll see mass adoption in the next 12 to 18 months and this, timeline is achievable as there are more tools for distributing Web3 app's than ever before". That eventually, even legacy players that have historically been resistant to Web3, such as Apple, Google and Valve’s Steam, will have no choice but to join the revolution. Furthermore that, “once those floodgates open, we’ll get even more mass adoption...imagine what would happen when you suddenly have 100 Million or maybe even 1 Billion people on these kinds of networks...they would be completely unbeatable”. Siu believes, gaming will ultimately be the catalyst for mass adoption as it’s a social activity, which gives it its true power. Arguing, “the power of a blockchain comes from its community, which is social in nature...regardless of whether it’s a game or SocialFi or even a DeFi system, you know, it’s the social connections that come from that, that actually give it its strength and its longevity. Which comes to the point why gaming is a mechanism to do that? Because, at root, games, are a social network.” #IsTheMetaverseDead... ⚰️ ⚰️ Regarding the Metaverse, Siu argued, it's “not dead at all,” despite various news declaring it to be so. He argued, “it depends on how you define the Metaverse”, saying that Facebook did an incredible job in rebranding itself to Meta to convince the world that “Meta” equaled “the Metaverse. When Facebook failed to execute the Metaverse in their vision, the world was like, huh, see, that didn’t work and so they associated with that”. However, the Animoca Brands co-founder sees the Metaverse as something much different. Arguing “the Metaverse doesn’t begin with a virtual world, the Metaverse begins with owning your digital property, it’s like building a nation. The foundation of building a nation isn’t actually the fact that you can enter a space, it’s about your community, and it’s about ownership in that space. That part is thriving,” he added, likening the Web3 space at large to one big “open Metaverse,” where opportunities are virtual, but the value is tangible, to us, that’s the open Metaverse, and that’s a thriving space that already, $2.5, $2.6 Trillion in size. #GAMEFIistheKILLERUSECASEthattakesCRYPTOintoMASSADOPTION... 💥 💥

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