Industry News

Ripple recently concluded its 5th Apex 2025 summit, the largest annual XRP Ledger (XRPL) event, held in Singapore from 10 to 12 June. The gathering attracted over 750 global leaders, developers, and innovators, showcasing the latest advancements in the XRPL ecosystem. The event underscored the increasing institutional adoption of blockchain technology, driven by the tokenisation of real-world assets and the rise of stablecoins.

A joint report by BCG and Ripple projects the tokenised real-world asset market to reach $18.9 trillion by 2033. Meanwhile, Citi Institute estimates the stablecoin market could grow by up to 1,500%, reaching over $3 trillion by 2030. These projections highlight the significant potential for growth and transformation within the blockchain sector.

During the summit, Ripple made several key announcements demonstrating how XRPL is facilitating enterprise-grade blockchain use cases globally. Guggenheim Treasury Services has launched its Digital Commercial Paper (DCP) on the XRPL, a fixed income asset secured by US Treasuries and rated Prime-1 by Moody’s. This initiative aims to modernise the issuance and transaction of commercial paper.

Additionally, Ondo Finance introduced its tokenised US treasury fund, Ondo Short-Term US Government Treasuries (OUSG), on the XRPL. Qualified Purchasers can now seamlessly subscribe and redeem OUSG with RLUSD, Ripple’s enterprise-grade stablecoin. Furthermore, Ripple announced the launch of USDC, the world’s largest regulated stablecoin issued by Circle, on the XRPL. This addition is part of the growing momentum behind global stablecoins on the network.

These developments at Apex 2025 highlight the expanding utility of XRPL in facilitating remittances, decentralised finance (DeFi), and enterprise-grade payments, further enhancing the role of XRP as a native asset for liquidity.
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Datalec Precision Installations (DPI), a leader in data centre solutions, has announced the appointment of Edmund Quek as Technology Delivery Manager for the Asia-Pacific (APAC) region. Based in Singapore, Quek will spearhead DPI’s technology project delivery, focusing on customer-centric solutions and operational excellence. This strategic hire comes as DPI seeks to expand its presence in the APAC market, which is experiencing a surge in digital infrastructure demand.

Quek brings over 20 years of experience in ICT infrastructure and data centre project delivery, having successfully led more than 100 large-scale projects across APAC and the Middle East. His expertise in reducing project turnaround times by 25% and leading regional technical teams is expected to bolster DPI’s capabilities in delivering high-impact solutions.

Peter Cole, Executive Vice President of APAC at DPI, expressed enthusiasm about Quek’s appointment, stating, “With the surge in digital infrastructure demand across the region, coupled with his extensive local knowledge, we look forward to delivering innovative, high-impact solutions that reflect DPI’s commitment to excellence and client satisfaction under his leadership.”

In his new role, Quek will focus on streamlining project execution frameworks, enhancing client onboarding experiences, and supporting sales through technical bid input. DPI aims to compete at the highest standards globally, delivering unparalleled quality and aligning closely with clients’ evolving requirements. This appointment underscores DPI’s commitment to operational excellence and strategic growth in the APAC region.
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EtonHouse International Education Group has launched The EtonHouse City PreSchool, a pioneering early childhood education campus located at Collyer Quay in Singapore’s bustling downtown. This new preschool aims to transform urban landscapes into immersive learning environments, blending urban inspiration with world-class pedagogical practices to foster curiosity, creativity, and critical thinking in young learners.

The preschool, which caters to children aged 18 months to 6 years, offers a variety of flexible programmes, including half-day, three-day, and five-day full-day options, with extended hours from 7am to 7pm on weekdays. This flexibility is designed to accommodate the diverse schedules of modern families, allowing parents to stay connected to their child’s educational journey whilst managing professional commitments.

EtonHouse City PreSchool is designed to reconnect children with nature and their communities amidst the challenges of urbanisation and digital exposure. The school provides a nurturing environment where young learners can engage meaningfully and grow holistically through authentic experiences rooted in both nature and the urban environment. “We’ve drawn inspiration from the city’s rich architecture and history,” said Evelyn Tay, CEO of EtonHouse Singapore, highlighting the unique identity of the school shaped by its surroundings.

The preschool features innovative learning spaces such as the Learners Loft, Outdoor Adventure Park, ReAldo Lab, Atelier of Lights, and Living Lab, each designed to encourage critical thinking, collaboration, and creativity. These spaces aim to nurture confident and curious learners, preparing them to thrive in an ever-evolving world.

Families interested in exploring The EtonHouse City PreSchool can attend the Experience Day on 5 July 2025, offering a chance to tour the school and meet the educators.
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The Government has announced a slight reduction in the supply of dwelling units under its second half (2H) 2025 Government Land Sales (GLS) programme. Despite the reduction, the programme will still offer 10 sites with a total of 4,725 dwelling units under the Confirmed List, a figure significantly higher than the supply levels from 2015 to 2023. This sustained high level of supply is expected to keep the market well-stocked with both private residential and Executive Condominium (EC) units.

Among the top sites, Bedok Rise is notable for being the last land parcel with direct access to Tanah Merah MRT station. The new mall, Sceneca Square, will enhance convenience in the area. The Bukit Timah site, next to Newton MRT station, is part of a transitional office site returned to the Government, with no new supply since 2019.

The Dover Road site is strategically located near Singapore’s R&D hub, one-north, and the Singapore Science Park, addressing the housing shortage relative to the area’s employment. The Dunearn Road site, part of the new Turf City housing estate, is close to top schools and the Sixth Avenue MRT station, with a retail component boosting local amenities.

The Kallang Avenue site is the first GLS site for private residential living near Kallang MRT station, offering proximity to the city and Singapore Sports Hub. The Tanjong Rhu site, the first in this area since 1997, is near Katong Park MRT station and East Coast Park.

Additionally, the Woodlands Drive 17 EC site follows a nearby offering in the first half of 2025, potentially keeping EC prices affordable. Other notable sites include Dairy Farm and Lentor Central, addressing demand and stabilising prices in these popular precincts. The Miltonia Close EC site, the first since 2014, offers views of greenery and water, catering to upgrading demand from nearby HDB flats.
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Trinasolar, a global leader in smart photovoltaic (PV) and energy storage solutions, successfully hosted the Go Green Walk at Singapore’s Bedok Reservoir Park on 8 June. This event was part of the nationwide Go Green SG initiative, supported by Singapore’s Public Utilities Board (PUB), National Parks Board (NParks), and PAssion WaVe. The walk aimed to enhance public awareness of sustainability and featured interactive learning stations on solar energy, reservoir biodiversity, and recycling.

The event was officially launched by Helena Li, Executive President of Trinasolar, who emphasised the importance of community involvement in sustainability efforts. “Each step taken today represents a stride towards a greener Singapore and planet,” she stated. Nearly 200 participants, including residents, students, and industry partners, joined the 4.7-kilometre walk.

A significant highlight of the event was the floating solar power plant on Bedok Reservoir, developed by PUB and featuring Trinasolar modules. This 1.5MWp installation, along with another at Lower Seletar Reservoir, can collectively generate enough energy to power approximately 800 four-room HDB flats and reduce PUB’s carbon emissions by around 15 kilotonnes annually.

The event also marked Trinasolar’s 16th anniversary in Singapore. Since establishing its Asia-Pacific headquarters in 2009, Trinasolar has become a hub for operations and innovation, collaborating with institutions like the Agency for Science, Technology and Research (A*STAR) and Nanyang Technological University (NTU) on projects related to AI energy optimisation, smart storage, and low-carbon manufacturing. Through these efforts, Trinasolar continues to contribute to a sustainable energy future.
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SmartLend, a fully digital alternative financing platform, has launched in Singapore, offering small and medium-sized enterprises (SMEs) a streamlined way to secure funding. By eliminating third-party brokers and unnecessary costs, SmartLend simplifies the financing process, allowing businesses to compare and obtain loans efficiently without hidden fees. This innovation addresses the challenges SMEs face with traditional banks’ stringent credit requirements and complex application procedures.

The platform integrates with Singpass and Credit Bureau Singapore (CBS), enabling real-time financial data retrieval and significantly reducing application time. What once took days of paperwork can now be completed in minutes. By connecting SMEs directly with a network of trusted lenders, SmartLend ensures a transparent and cost-effective borrowing experience, benefiting both businesses and lenders.

Unlike traditional loan aggregators, SmartLend’s intelligent matching engine prioritises the most cost-effective bank financing first, only recommending alternative lenders when necessary. This ensures businesses receive the best possible financing terms. Danny Phua, CEO of SmartLend, highlighted that the platform builds upon the success of Smart Towkay, which has helped over 5,000 SMEs secure more than $73 million (S$100 million) in funding.

SmartLend is also expanding its offerings to include property equity term loans, allowing SMEs to unlock capital using their assets. Future features will include an instant property valuation tool and a document vault for managing loans across multiple lenders. Phua emphasised the platform’s goal to empower SMEs by providing full control over their financing journey without unnecessary delays or consultancy costs.

With its innovative approach, SmartLend aims to transform how businesses in Singapore access funding, making alternative financing more transparent, accessible, and cost-effective.
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China Construction Bank (CCB) has announced the establishment of the CCB SG Vision Foundation in collaboration with TT Foundation Advisors, marking the first time a Chinese financial institution has partnered with TT Foundation Advisors in Singapore. The announcement was made at the 2025 LandSea Economic Forum during the China-Singapore Financial Summit. The Foundation aims to support projects in education, healthcare, and environmental protection, promoting a more inclusive and sustainable society.

The Foundation’s inaugural donation will support the Youth Intern Exchange Scheme (YES), a bilateral internship initiative between Singapore and China. This programme, launched in 2019, is managed by Business China in Singapore and the National Talent Mobility Centre in China. It aims to foster cultural exchange and develop global perspectives among young interns. Sun Nianbei, General Manager of CCB Singapore, highlighted Singapore’s robust philanthropic framework and expressed confidence in the partnership with TT Foundation Advisors.

TT Foundation Advisors will provide strategic planning, project management, and impact evaluation services to the Foundation. Dickson Lim, Head of TT Foundation Advisors, stated, “We are honoured to partner with China Construction Bank on their first overseas charitable DAF foundation.” The Foundation plans to collaborate with platforms like CoAxis to connect with global philanthropic resources, enabling cross-sector synergies.

As Singapore celebrates its 60th anniversary and 35 years of diplomatic relations with China, the launch of the CCB SG Vision Foundation signifies a commitment to enhancing philanthropic efforts and fostering mutual understanding between the two nations.
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Peak Energy, a pan-Asian renewable energy developer and Independent Power Producer (IPP), has announced the acquisition of 11 MW of ready-to-build high-voltage solar projects across Japan. These projects, located in Chubu, Chugoku, Hokkaido, and Kansai, are set to be operational by 2027. They are expected to generate over 13 GWh of clean electricity annually, reducing CO₂ emissions by nearly 6,000 tonnes each year—equivalent to removing approximately 2,000 cars from the road.

The electricity generated will be sold to corporates through long-term power purchase agreements (PPAs) at fixed prices, enabling immediate savings on electricity bills and protection against tariff fluctuations for 20 years. This acquisition marks a significant step in Peak Energy’s expansion in Japan, where the company already co-owns a 28 MW plant in Kyushu.

Gavin Adda, CEO of Peak Energy, stated, “This acquisition reinforces our long-term commitment to Japan. Combined with our broader pipeline of high-voltage assets, it will support our mission to deliver clean, affordable, and reliable energy solutions to businesses nationwide.” Eiji Sato, Country President of Peak Energy in Japan, added, “Given how slowly new supply of large-scale solar capacity is coming on stream in our country, we are excited that we will be able to provide our corporate customers with clean energy within the next couple of years.”

Headquartered in Singapore, Peak Energy is expanding its activities across the Asia-Pacific region, owning over 200 MW of solar projects and 298 MWh of battery energy storage capacity in operation or under construction.
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A recent survey by MDRT reveals that a significant 81% of Singaporeans are utilising artificial intelligence (AI) tools for managing personal finances, including budgeting, robo-advisors, and personalised advice. Despite this widespread adoption, there is a strong demand for transparency and regulation, with 88% of respondents wanting to be informed when AI is used in financial services and 84% supporting regulatory measures.

The survey highlights that younger generations, such as Gen Z and millennials, are leading the charge in AI adoption, with 87% and 86% usage rates respectively. In contrast, only 37% of baby boomers are using AI, indicating a more cautious approach. Gregory Fok, a 19-year MDRT member, noted, “The government’s efforts to strengthen AI capabilities have boosted public confidence in AI use within the financial sector.”

Whilst 72% of Singaporeans agree that financial advisers should be allowed to use AI, and 67% trust those who do, there remains a preference for human expertise in core advisory roles. AI is seen as a tool for supporting functions like communication and automation rather than making key financial decisions.

Jaslyn Ng, an eight-year MDRT member, emphasised the importance of a balanced approach: “Financial decision-making is never a one-size-fits-all process. Embracing a hybrid approach that includes AI can help explore different strategies.”

The survey, conducted by Opinium, involved 2,000 Singaporean adults and underscores the critical role of financial advisers in ensuring responsible AI integration. As AI continues to play a complementary role, the demand for ethical and transparent use remains a priority for Singaporeans.
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Singapore has emerged as a leader in Artificial Intelligence (AI) preparedness and financial resilience in the Asia-Pacific region, according to Kroll’s 2025 Global Business Sentiment Survey. The survey reveals that 64% of Singaporean business leaders are confident in integrating AI into their operations, significantly higher than the regional average of 34%. Additionally, 52% of businesses in Singapore feel well-prepared to manage debt service and financial risks, reinforcing the city-state’s status as a financial hub.

The rapid adoption of AI in Singapore is reshaping corporate strategies, with a focus on automation, cybersecurity, and operational efficiency. Despite these advancements, the city faces challenges from AI-driven financial crimes. Maurice Burke, Managing Director at Kroll, highlighted the sophistication of digital deception techniques, noting that “the bad actors and their toolkits continue to grow in sophistication.”

Cybersecurity remains a top concern, with half of the business leaders citing risks from malware and breaches. AI-powered threats, such as deepfakes, are also on the rise, with 42% of respondents acknowledging these risks, well above the regional average.

Financially, Singapore stands out with 44% of leaders confident in addressing budget constraints. Strategic mergers are also on the rise, with 26% of firms considering acquisitions to drive growth. Annabelle Cai, Managing Director at Kroll, emphasised the importance of financial agility, stating, “Companies that embrace financial agility… will be best positioned for long-term success.”

As Singapore navigates technological and financial challenges, its dual strength in AI and financial resilience positions it as a leading market in the region.
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