Media OutReach

AI and Blockchain Innovations Propel Singapore’s Fintech Evolution Amid Investment Recalibration: KPMG’s Pulse of Fintech H2’24

Published

1 year ago

27/02/2025

Singapore’s fintech investment recalibrated to US$1.3 billion in 2024, in line with global shifts toward sustainable growth.
Crypto and blockchain investment increased 22 percent in H2’24 to US$267 million, driven by AI-integrated solutions.
AI-powered fintech surged, with investment jumping from US$24 million in H1’24 to US$160 million in H2’24, reflecting demand for regtech and automation.
H2’24 fintech deal value grew 41 percent, reflecting a shift toward high-value, early-stage investments.

SINGAPORE – Media OutReach Newswire – 27 February 2025 – Singapore’s fintech sector recalibrated in 2024, with investment totaling US$1.3 billion, the lowest level since 2020. This strategic pivot reflects a global trend as fintech investment reached a seven-year low of US$95.6 billion. Despite reduced funding levels, Singapore’s focus on innovation and sustainability positions it as a leader in AI-driven solutions and blockchain advancements, according to KPMG’s Pulse of Fintech H2’24 report.

Singapore’s Resilience in Fintech Innovation

While the cautious investment environment slowed overall funding, Singapore remains a hub for fintech innovation. Crypto and blockchain investment rose 22 percent in H2’24, reaching US$267 million, fuelled by AI-powered digital asset solutions and blockchain-based financial infrastructure. Strong regulatory frameworks and institutional interest have solidified Singapore’s role as a strategic leader in these emerging sectors.

AI-powered fintech also made significant gains, with investment soaring from US$24 million in H1’24 to nearly US$160 million in H2’24. Investor interest was particularly strong for regtech, business automation and agentic AI solutions.

“If what we’ve seen in the broader investment space is any indication, AI could be a sleeping giant for fintech investment,” said Anton Ruddenklau, Lead of Global Innovation and Fintech, Financial Services, KPMG International. “However, right now, it’s still very early days. There’s definitely a lot of interest in AI, generative AI, agentic AI and automation, but there’s a lot of caution too. Over the next year, AI-focused regtechs will likely see the most traction among investors as financial services companies look for better ways to respond to the increasingly complex regulatory environment.

Shifting Dynamics in Investment Focus

H2’24 saw the total value of Singapore’s fintech deals rise 41 percent, hitting US$781 million, even as deal volume dropped 36 percent. This underscores a growing emphasis on later-stage deals with high scalability and near-term profitability. Early-stage VC interest remains strong as quality-driven investments gain traction.

Globally, fintech investment also trended towards practical solutions, with funding focused on blockchain infrastructure, climate tech and compliance-driven technologies. This alignment with global priorities underscores Singapore’s adaptability and competitive edge.

The Role of Regulatory Clarity in Blockchain Growth

The blockchain and crypto space in Singapore benefitted significantly from regulatory stability, with H2’24 blockchain investment rising by over 20 percent to reach US$267 million. This growth was spurred by AI-powered blockchain applications, blockchain-as-a-service platforms and notable funding rounds such as Partior’s US$80 million raise for its blockchain-based interbank settlement network—the largest in the Asia-Pacific region.

These advancements position Singapore for continued leadership in the digital assets space while aligning with international regulatory trends.

Global investment in digital assets reached US$9.1 billion in 2024—the highest total ever outside of the outlier years of 2022 and 2023, focusing on market infrastructure, tokenisation, and stablecoins. During H2’24, four of the five largest deals occurred in the Americas, including Stripe’s US$1.1 billion acquisition of stablecoin infrastructure company Bridge, a US$525 million raise by Praxis, and a US$200 million raise by Current—all based in the US—and a US$210 million raise by Canada-based Blockstream. A US$100 million raise by UK-based Crytocoin accounted for the largest deal in the EMEA region.

Payments sector in Singapore faces maturity challenges

Singapore’s payments sector, ranked third among fintech verticals, showcased resilience despite operating in a mature ecosystem. H2’24 witnessed a rise in deal count, with nine transactions totalling US$57.4 million. Innovations like FAST, PayNow, and SGQR provide a robust foundation for the sector, enabling further growth in tailored and scalable payment solutions. Opportunity in this fintech segment lies in cross-border and regional expansion, positioning Singapore as a hub for Asia’s payment growth.

On the global stage, the payments sector demonstrated strong momentum in 2024, with funding nearly doubling year-on-year to reach US$31 billion. While this funding surge was heavily influenced by consolidation and strategic transactions, it highlighted the sector’s critical role in the fintech ecosystem. Landmark deals included GRCR’s US$12.5 billion acquisition of Worldpay and Advent International’s US$6.3 billion privatisation of Nuvei, alongside other notable activities such as Mynt’s US$788 million VC raise in the Philippines.

A Forward-Looking Market Outlook

Amid a recalibrating investment landscape, Singapore’s focus on sustainable growth, innovation, and emerging technologies positions the country at the forefront of fintech evolution. With declining interest rates and easing global election uncertainties, 2025 offers opportunities for increased fintech deal activity and new momentum in AI, blockchain, and digital payments. The Singapore Budget 2025 further accelerates this momentum, introducing initiatives to help businesses access and integrate AI at scale and to attract entrepreneurial talent to establish and grow ventures in Singapore.

Reg Tech $1.5 4 $2.2 4 Insur Tech $100.0 2 $41.5 2 Cybersecurity $3.0 1 $3.0 1 Payments $57.4 9 $66.2 6 Digital assets and currencies (crypto/blockchain) $267.0 53 $219.1 82 AI & ML

*these deals are also tagged with other fintech verticals

	H2 2024		H1 2024
Fintech verticals	Total value US$ (million)	No of deals	Total value US$ (million)





No of deals	$159.9	12	$24.1	15

Figure 1: Singapore’s fintech verticals deal values and volume for H1 2024 and H2 2024

	Singapore		Global
Fintech verticals	Ranking	Deal Size	Ranking	Deal Size
Fintech verticals		US$ (million)		US$ (billion)
Digital assets and currencies (crypto/blockchain)	#1	$486.09	#2	$9.10
Insurtech	#2	$141.50	#4	$3.10
Payments	#3	$123.60	#1	$31.00
Cybersecurity	#4	$6.00	#5	$0.90
Regtech	#5	$3.71	#3	$7.40
Wealthtech	#6	0	#6	$0.40

Figure 2: Ranking of top Singapore and Global’s fintech verticals in deal values for 2024

Global fintech investment

Regionally, the Americas attracted the largest share of fintech investment in 2024—US$63.8 billion across 2,267 deals, including US$50.7 billion across 1,836 deals in the US. The EMEA region attracted US$20.3 billion across 1,465 deals, while the ASPAC region saw US$11.4 billion across 896 deals. At a sector level, the payments space attracted the largest share of investment (US$31 billion), followed by digital assets and currencies (US$9.1 billion), and regtech (US$7.4 billion).

“It’s been a rough year for nearly everyone—fintechs, corporates, VC and PE firms—given the breadth of challenges and uncertainties in the global market. With only a handful of exceptions, no one wanted to pull the trigger on the largest deals—which have long been a mainstay in fintech investment,” said Karim Haji, Global Head of Financial Services, KPMG International. “But there’s a lot to be positive about heading into 2025. Many critical elections are behind us and investment and deal activity is beginning to pick up. We are starting to see more deals coming through because of interest rate cuts in different jurisdictions and the lower cost of funding. However, we will have to wait and see if the changing world trading conditions impact inflation, interest rates and consequently these positive signs of market change.”

Global Key Highlights for 2024

Global fintech investment fell from US$119.8 billion across 5,382 deals in 2023 to US$95.6 billion across 4,639 deals in 2024.
The Americas attracted US$63.8 billion in fintech investment across 2,267 deals in 2024, of which the US accounted for US$50.7 billion across 1,836 deals; the EMEA region attracted US$20.3 billion across 1,4645 deals, while the ASPAC region attracted US$11.2 billion across 896 deals.
Global M&A deal value fell from $60.2 billion to US$49.6 billion between 2023 and 2024; while H2’24 was softer than H1’24, M&A deal value rose from US$7.4 billion to US$14.2 billion between Q3’24 and Q4’24.
PE investment declined significantly, falling from US$10.5 billion in 2023 to just US$2.6 billion in 2024, while VC investment saw a modest drop from US$49.2 billion in 2023 to US$43.4 billion in 2024.
Payments was the strongest area of fintech investment globally in 2024, with US$31 billion in investment compared to just US$17.2 billion in 2023; other sectors that saw investment rise year-over-year included digital assets and currencies —from US$8.7 billion to US$9.1 billion, regtech—from US$4.4 billion to US$7.4 billion, proptech—from US$1.9 billion to US$3 billion, and wealthtech—from US$190 million to US$400 million.
Corporate VC-participating investment globally fell from US$26 .9 billion in 2023 to US$19.6 billion in 2024; only the EMEA region saw corporate investment in VC deals rise—from US$5.1 billion to US$5.8 billion year-over-year. The Americas saw CVC drop from US$13.8 billion to US$9.9 billion, while ASPAC saw CVC investment drop from US$8.0 billion to US$3.9 billion.

Global: Americas sees VC investment drop to six-year low despite record high in Canada

The Americas saw total fintech investment drop from US$77.6 billion in 2023 to a six-year low of US$63.8 billion in 2024. The US accounted for $50.7 billion of this funding—a decline from US$72.8 billion in 2023. Outside of the US, Canada saw a record high of US$9.5 billion in fintech investment during 2024—driven in large part by the buyout of Nuvei—while investment in Brazil softened from US$2.3 billion to US$1.4 billion. Fintech investment dropped slightly from US$32.8 billion to US$31 billion between H1’24 and H2’24. On a more positive note, investment almost doubled between Q3’24 and Q4’24, rising from US$10.8 billion to US$20.2 billion. Within the US, fintech investment dropped from US$28.8 billion to US$21.9 billion between H1’24 and H2’24, although it also rose from US$9.9 billion to US$11.9 billion between Q3’24 and Q4’24.

Global: Fintech investment in EMEA region sinks to US$20.3 billion—lowest total since 2016

Fintech investment in the EMEA region fell from $27.6 billion across 1,833 deals in 2023 to just US$20.3 billion across 1,465 deals in 2024. H2’24 also saw a significant drop compared to H1’24—from US$13 billion across 820 deals to just US$7.3 billion across 645 deals. While the UK accounted for nearly half of all fintech investment in the EMEA region during 2024 (US$9.9 billion), the total was a significant decline compared to 2023 (US$13.6 billion). Germany also saw fintech investment drop between 2024 and 2025—from US$961 million to a ten-year low of US$815 million. The Middle East saw the most positive results in EMEA during 2024, with fintech investment rising from US$1.2 billion to US$2.2 billion year-over year.

Global: Asia-Pacific region sees lowest level of fintech investment in a decade

Total fintech investment in the ASPAC region fell from US$14.6 billion in 2023 to US11.4 billion in 2024—the lowest level of fintech funding seen in the region since 2014. India accounted for the largest share of this total (US$4.1 billion), led by a US$.5 billion raise by WSB Real estate partners in H1’24. Total fintech investment in China dropped from US$2.6 billion to just US$687 million between 2023 and 2024, while Australia saw fintech investment nearly double from US$840 million to US$2.1 billion; fintech investment in Japan held nearly steady year-over-year at US$660 million.

A sense of optimism for 2025

With interest rates declining in many jurisdictions and election uncertainties finally easing, there’s a cautious sense of optimism within the fintech market heading into 2025. The average time between deals has also lengthened significantly, from approximately fifteen months in 2022 to twenty-four months in 2025—the longest it has been in the last decade—which could make 2025 a critical year for deal-making as fintechs look to ensure their continued operations.

While the payments space will likely remain the biggest ticket of investment globally, digital assets and currencies are well positioned for an upswing in investment—particularly when it comes to market infrastructure, digital tokenisation, and stablecoins. AI is also expected to remain a key priority for investors, with regtech and cybersecurity-related solutions likely to see the most interest in H1’25.

Hashtag: #KPMG’

The issuer is solely responsible for the content of this announcement.

About KPMG International

KPMG is a global organization of independent professional services firms providing Audit, Tax and Advisory services. KPMG is the brand under which the member firms of KPMG International Limited (“KPMG International”) operate and provide professional services. “KPMG” is used to refer to individual member firms within the KPMG organization or to one or more member firms collectively.

KPMG firms operate in 143 countries and territories with more than 273,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. Each KPMG member firm is responsible for its own obligations and liabilities.

KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.

Media OutReach

Survey: AI Investment Boom in Asia Pacific Fuelled More by Fear of Missing Out Than Actual Results

Published

22 hours ago

12/06/2026

Media Outreach

SINGAPORE – Media OutReach Newswire – 12 June 2026 – Enterprise AI spending is climbing rapidly, with boards racing to deploy the technology faster than they can measure whether it works. According to the latest IDC InfoBrief, commissioned by Expereo*, around 70% of organizations are investing in AI, motivated by its potential or by the fear of falling behind the competition, but they lag in disciplined ROI evaluation, and one in five (20%) admit they are investing aggressively in AI with little evaluation, driven by the fear of being left behind.

In Asia Pacific (APAC), that pressure is even more pronounced as 37% of organizations admit investing aggressively with little evaluation – nearly double the global average, and well ahead of the US (10%) and Europe (13%). The pressure is most acute in Australia (45%) and Vietnam (44%), while in Singapore, more than one in three organizations admit the same.

The IDC InfoBrief, based on a survey of 800 technology leaders across APAC, Europe, and the US, found that AI has become one of the most prioritized technology investments globally, with 51% of organizations planning to prioritize AI or machine learning investment over the next 12 months – rising to 61% across APAC. However, returns are failing to keep pace with the hype. Just 19% of global organizations surveyed say their AI implementations have exceeded expectations, and only 5% report they have significantly exceeded them¹.

Across APAC, 40% say implementations have exceeded or significantly exceeded expectations – ahead of the global average but still leaving the majority falling short. Globally, the most-cited reasons for underperformance are inadequate or poor-quality training data (51%), higher-than-expected costs or ROI not achieved (47%), and AI not performing as well as expected (46%). For APAC specifically, the picture is broadly similar – though costs bite harder: 49% cite poor-quality training data, 54% cite cost overruns or ROI not achieved (rising to 80% in Malaysia), and 46% say AI has simply not performed as expected.

Where organizations have the right foundations in place, the results speak for themselves. Across APAC, 87% report productivity improvements in the business units most affected by AI, and 82% say quality of work has improved.

Underpinning many of these challenges is also a network and infrastructure readiness gap. Globally, 26% of organizations whose AI implementations have failed to meet expectations cite inadequate network or connectivity performance as a contributing factor. Looking ahead, 54% of organizations say they need more flexible and scalable networks to thrive in an AI-driven environment, and 51% need greater resilience and reliability to maximize uptime². In APAC, the gap is acute as only 9% of organizations describe their network infrastructure as fully ready to support new AI, cloud, and digital initiatives, and 37% say it will need upgrading or replacing soon. The need is most acute in Thailand (74%) and Singapore (58%), both of which rank above the regional average on demand for flexible, scalable networks. In Indonesia, nearly half of all organizations (48%) say their infrastructure will need upgrading or replacing soon.

Ben Elms, CEO, Expereo, says: “Every enterprise we speak to is investing in AI, yet the data shows a clear gap opening up between AI ambition and AI outcomes. More often than not, that gap comes down to the network underneath. AI only delivers on its promise when the infrastructure carrying it is built to support it.

Without resilient, scalable, cloud-optimized networks, even the most well-funded AI programs will struggle to deliver ROI. Getting the network right is no longer an IT decision; it is one of the most important conversations happening in the boardroom today to help fulfill AI ambition.”

APAC is also leading on adoption, with 35% of organizations reporting extensive AI use across the business, against a global average of 25%³. Yet adoption alone is not enough without the right foundations beneath it.

Eric Wong, President, APAC, Expereo, says: “Asia Pacific is moving aggressively on AI adoption, but many organizations are discovering that scaling AI successfully requires more than just investment in applications and models. The underlying network, cloud connectivity, and operational readiness matter just as much. Across the region, we are seeing enterprises reassess whether their infrastructure is truly ready to support AI at scale, particularly around performance, resilience, governance, and visibility. Organizations that address those foundations early are generally seeing stronger outcomes and faster operational impact from their AI initiatives.”

Boardrooms are also waking up to the longer-term risks of unchecked AI investment. According to the survey, 54% of global tech leaders cite the creation of new security risks as a significant potential future threat for their organization’s use of AI, while 39% globally are concerned about losing track of AI-related costs and ROI once the technology is embedded across the business⁴. In APAC, that concern is sharper still as 41% of technology leaders in the region are worried about losing oversight of AI-related costs and ROI as adoption deepens – a figure that rises to 54% in Malaysia. Digital sovereignty is also moving up the strategic agenda, with 38% of APAC organizations rating it a high or top priority as they look to retain control over data and navigate an increasingly complex regulatory landscape.

For the full IDC InfoBrief, commissioned by Expereo, “Enterprise Horizons 2026: Where Innovation Meets Reality“ (doc #EUR154457526-IB, May 2026) please visit: [LINK]

Hashtag: #Expereo, #Network, #ArtificialIntelligence, #AI, #Technology, #AIInvestment

The issuer is solely responsible for the content of this announcement.

Expereo

Expereo is a world-leading Managed Network as a Service provider that connects people, places, and things anywhere. Solutions include Global Internet, SD-WAN/SASE, and Enhanced Internet. With an extensive global reach, Expereo is the trusted partner of 60% of Fortune 500 companies. It powers enterprise and government sites in more than 190 countries, with the ability to connect to any location worldwide, working with over 2,300 partners to help customers improve productivity and empowering their networks and cloud services with the agility, flexibility, and value of the Internet, with optimal network performance.

Expereo was acquired in Feb 2021, by Vitruvian Partners which acquired a majority shareholding from Seven2.

Media OutReach

Taylor Swift Wax Figure Arrives in Singapore for Limited-Time

Published

23 hours ago

12/06/2026

Media Outreach

Following last summer’s historic global launch of 13 Taylor Swift wax figures across four continents, one of the world’s most celebrated icons is now making a dazzling limited-time stop at Madame Tussauds Singapore.

SINGAPORE – Media OutReach Newswire – 12 June 2026 – In news guaranteed to send Swifties into a frenzy, Madame Tussauds Singapore today announces the arrival of its touring Taylor Swift wax figure, inviting fans to feel as if they’ve stepped on stage at Taylor Swift | The Eras Tour.

Taylor Swift Wax Figure

Originally launched as part of Madame Tussauds’ biggest figure release in its 250-year history, this Taylor Swift wax figures celebrates the Lover era, showcasing the look that became the post image for the Taylor Swift | The Eras Tour concert film. The figure is dressed in a replica of the pink, blue and silver embellished Versace leotard. The look is completed with mesmerising, hand-applied strass Christian Louboutin knee-high boots, donated by the Maison, and bespoke embellished microphone created by Rebel Stage Gear UK, the specialist customisation company behind the original microphones Taylor used during the tour.

The campaign will run from 26 June to 27 September 2026. Designed as the ultimate fan celebration, it combines interactive experiences, limited-time activities and social moments inspired by Taylor Swift as one of the most influential and enduring artists of the 21st century.

Guests can enjoy an exclusive online promotion from 26 June to 12 July 2026, with 20% off tickets using promo code TAYLOR20; fans can also participate in a special social media giveaway activity following Madame Tussauds Singapore’s Instagram account to win two pairs of attraction tickets.

Inside the attraction, Swifties will have the opportunity to fully immerse themselves in the experience through a series of themed activities, including:

DIY Friendship Bracelet Booth (26 June to 12 July) – All ticket holders can create their own friendship bracelets inspired by the fan-favourite tradition made famous during The Eras Tour. Available while stocks last.

Concert-Inspired Photo Props – Strike a pose with our exclusive concert-style blazer photo props for the ultimate concert-style photo moment.

“Show Us Your Era” Challenge (26 June to 31 July) – Guests who take a photo with Taylor Swift wax figure, post it on social media and tag Madame Tussauds Singapore with #MadameTussaudsSG #MTSG will receive a free gift onsite, limited to the first 100 participants only.

Steven Chung, General Manager of Madame Tussauds Singapore said: “Last year’s global Taylor Swift figure launch became a cultural moment in itself, and we’re thrilled to bring one to Singapore. This summer, we welcome all Swifties to celebrate the joy, nostalgia and connection Taylor Swift has created for millions of fans around the world at Madame Tussauds Singapore.”

The Taylor Swift touring figure will be available exclusively at Madame Tussauds Singapore from 26 June to 27 September 2026. For this limited time only, Swifties in Singapore will have the rare opportunity to step into one of her most iconic eras and create unforgettable moments of their own.

Madame Tussauds Singapore continues to bring fans closer to the world’s biggest stars through immersive and interactive celebrity experiences, creating unforgettable memories for guests of all ages. For more information, please visit www.madametussauds.com/singapore/
Hashtag: #MerlinEntertainments #MadameTussaudsSingapore

The issuer is solely responsible for the content of this announcement.

Madame Tussauds Singapore

Madame Tussauds has been inviting people to walk the red carpet and get closer to the revered – and feared – for over 250 years. With 22 attractions in the world’s top destination cities, we are dedicated to giving millions of visitors the opportunity to mingle with the mighty from A-listers to music legends, heroes of sport, to infamous world leaders. Today, we continue to partner with the global icons of a generation to create astonishing lifelike figures from sittings and offer exciting and interactive experiences to ensure guests have never felt closer to fame.

About Merlin Entertainments
Merlin Entertainments is a world leader in branded entertainment destinations, offering a diverse portfolio of resort theme parks, city-centre gateway attractions and LEGOLAND Resorts which span across UK, US, Western Europe, China and Asia Pacific. Dedicated to creating experiences that inspire joy and connection, Merlin welcomes more than 62 million guests annually to its growing estate, with over 140 sites across 23 countries. An expert in bringing world-famous entertainment brands to life, Merlin works with partners including the LEGO Group, Sony Pictures Entertainment, Peppa Pig, Dreamworks and Ferrari to create destinations where guests can immerse themselves in a wide array of brand-driven worlds, rides, and uplifting learning experiences. See www.merlinentertainments.biz for more information.

Media OutReach

AIVA Launches a Pioneering, New Model for AI Vehicle Industry

Published

2 days ago

11/06/2026

Media Outreach

BEIJING, CHINA – Media OutReach Newswire – 11 June 2026 – AIVA, an AI-native mobility brand, was officially unveiled in Beijing on 9 June 2026.

AIVA will collaborate with Volcano Engine, ByteDance’s cloud and AI platform, to jointly define, design, and develop a new generation of AI vehicles. Volcano Engine will provide AIVA with advanced capabilities, including the Doubao AI Foundation Model and intelligent cockpit, enabling smarter in-vehicle interactions.

At the launch event, AIVA unveiled its brand name and logo, introducing a development philosophy centered on “AI-first vehicle creation”—where AI comes before the car itself. It is believed that AI-native vehicles will fundamentally redefine the relationship between people and automobiles. AIVA also showcased the AIVA Origin Concept, while AIVA ME7, its first mass-production model, is scheduled to debut in 2026. The AIVA lineup will target the mainstream market segment priced above RMB 200,000.

AIVA, short for Artificial Intelligence Voyage Ahead, reflects the brand’s vision of AI accompanying users on every journey toward the future. Built around AI-native mobility, AIVA aims to create embodied AI companions powered by advanced intelligence, transforming vehicles from mere transportation tools into trusted partners that understand, accompany, and serve their users.

When AI is deeply integrated into the vehicle, users no longer need to navigate complex menus. Instead, AI operates around human intent, making the interaction intuitive and direct. By understanding real-time context and user preferences, it can proactively anticipate needs and coordinate vehicle capabilities, delivering a more natural, personalized mobility experience.

As an independently operated company backed by a powerful alliance of strategic shareholders, AIVA will oversee brand development, product strategy, and business operations. SERES Group, as a key shareholder and industrial partner, will provide expertise in vehicle manufacturing and supply chain management. CATL will contribute comprehensive battery solutions. Shaci Zhiyuan, a strategic institutional investor, will provide industrial resource support.

Looking ahead, AIVA will broaden its product lineup through rapid innovation and iteration. By focusing on AI-powered interaction, intelligent experiences, emotional companionship, and safety-centered care, AIVA is committed to creating vehicles that not only move people, but understand them, unlocking a new era of intelligent mobility.
Hashtag: #AIVA

The issuer is solely responsible for the content of this announcement.