• Singapore recorded 31 FinTech seed deals in the first half of 2022 with 11 transactions completed by Blockchain & Crypto businesses, cementing the sectors leadership in the country. Interest in cryptocurrencies peaked in May 2022 and a sizeable 4.92% of Singaporeans now own crypto which places them 18th in the world for percentage of the population that own cryptocurrencies. As a result, The Monetary Authority of Singapore plans to consult on proposed steps in September or October 2022, Managing Director Ravi Menon said in response to questions after releasing the central bank’s annual report in July. The revised rules may include further tightening retail investors access to crypto, he added without providing details.
• Optty, a buy now pay later integration platform, was the largest FinTech seed deal in Singapore for H1 2022 raising $9m in stealth. Available in more than 59 countries and 36 currencies, Optty brings together the world’s BNPL providers in one simple and rapid integration. The platform currently has 185 global integrations with 41 BNPL providers including Afterpay, Affirm, Grab, Klarna, Scalapay, and Zip. By 2023, Optty plans to have more than 100 BNPL brands, digital wallets, and other alternative payment methods integrated into the platform.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2022 FinTech Global