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The Future of Money, Finance and the Internet by Ravi Menon (Screenshot from SFF 2021) I think the S...

In 2021, Singapore continued to pursue its ambition to become a world leader in fintech innovation, multiplying initiatives to foster green fintech, explore opportunities related on central bank digital currency (CBDC), and lay the foundation for open finance.

The proportion of Filipino adults with bank accounts soared to 53 percent in the first quarter from 29 percent in 2019, as the Bangko Sentral ng Pilipinas ramps up its financial inclusion efforts.

Rapid adoption of instant payments and the proliferation of national real-time payment rails are making Asia-Pacific (APAC) a leader in real-time transfers. This, coupled with efforts to make cross-border payments faster and most efficient, are turning the region into a hotspot for real-time cross-border payments, a new report by UK-based fintech firm Finastra says.

The trillion-dollar cross-border payments market is getting a revamp, fueled by technological advances, a changing regulatory landscape and a rush of new entrants promising to solve customers’ long-lasting pain points.