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uSMART Securities announces 0% commission fees and relocation of headquarters to Singapore

  • In celebration of their 4th anniversary, the intelligent brokerage app will be offering 0% commission fees from 1 July 2022 to 31 December 2022
  • uSMART also announced the shift in their global headquarters that will be established in Singapore, a move that signals strong belief in the growth of Singapore’s retail investor market

SINGAPORE – Media OutReach20 July 2022 – uSMART Securities (“uSMART”), a leading next generation online brokerage, is celebrating its 4th anniversary with the launch of a 0% commission campaign promotion.

From now until 31 December 2022, all users on the uSMART app will enjoy zero commission for equity trading across all available markets (Singapore, US, and Hong Kong), and no US settlement fees charges. The move aligns with uSMART’s vision to encourage the adoption of retail investing through a combination of investor education and professional yet easy-to-use features, in the meantime making them the broker with the lowest cost in Singapore.

uSMART is an intelligent investment app with a core mission of promoting ‘smart’ trading and improving the sophistication of retail investors, backed by strategic investors such as Hong Kong conglomerate Chow Tai Fook. Through the app, uSMART provides access to financial education, expert advice, and features that lower the required starting capital needed for investment. uSMART also announced the launch of fractional share investing for US stocks in May 2022, a rare feature only offered by a select few online brokers. With fractional shares – stock units that amount to less than one full share – investors can maximise returns and diversify portfolios even with a smaller capital output.

“In Singapore, we believe that there is an untapped market of potential investors in a younger demographic that are put off by the traditionally high barriers of entry”, said Ian Leong, Chief Executive Officer, uSMART Singapore. “By removing commission and US settlement fees and offering fractional shares on our platform, we have drastically lowered the financial costs of entry, which we hope will tap into a whole generation of new retail investors.”

In a strategic move that further signals its commitment to the Singapore market and the region, uSMART also announced the move of its global headquarters here. “We have witnessed an exponential growth in retail investor participation in Asia over the last two years. Singapore makes strategic sense for our headquarters given its position as the region’s financial hub, which offers us greater access to an international talent pool and investment capital to support our global business expansion,” said Leong.

Hashtag: #uSMART

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

About uSMART

uSMART Securities, the leading online brokerage firm for intelligent investment, aims to provide professional Smart Investment experience via innovative technology to our clients globally.

Founded in December 2018, uSMART Group has a strong global workforce of 400 across offices in Hong Kong, China, New Zealand and our headquarters in Singapore. Our mission is to provide leading smart investment services to global investors, and to maximize investors’ value through monetary, knowledge and positive emotions.

For more information:

XLD Finance raises $13M to build APIs that enable financial access through crypto

Investment will be used to accelerate product development and geographical expansion

SINGAPORE – Media OutReach – 19 July 2022 – XLD Finance, a borderless decentralised ecosystem that provides financial tools to emerging economies, announced today that it has successfully raised US$13M during the pre-Series A funding round led by Dragonfly Capital and Infinity Ventures Crypto.

The funds will be used to enable XLD Finance to scale its product and engineering teams to accelerate its API and product development efforts, and to expand its network of licensed partner financial institutions, as well as its merchant and biller network.

The round saw participation from Advance AI, Circle, Digital Currency Group (DCG), IDG Capital, Insignia Venture Partners, Integra Partners, Morningstar Ventures, Openspace Ventures, Sfermion, Shima Capital, Transcend Fund, TrustToken (TUSD), UOB Venture Management, Woo Network, Yield Guild Games (YGG), YOLO Ventures, Emfarsis and twenty other investors.

Established in June 2021, XLD Finance is building infrastructure to enable the delivery of financial tools to emerging economies through APIs that bridge web 3.0 and traditional finance. Its core products include crypto-based payments, disbursements, and crypto-to-fiat offramp APIs which allows web3 and crypto projects to offer tools to their users typically available only to traditional financial institutions.

With a merchant network of over 10,000 and growing, XLD Finance currently serves customers in the Philippines, Indonesia, Malaysia, Vietnam, India, and Bangladesh.

It launched its first ecosystem project, xSpend, in January 2022, allowing users to spend their GameFi tokens and stablecoins to pay utility bills, buy mobile credits, and purchase goods and services using only their Metamask, Phantom, or Ronin wallet. xSpend was introduced to the Malaysian market in June 2022 after debuting in the Philippines, Indonesia, Vietnam, India, and Bangladesh.

This month, XLD Finance is launching OmniX, a crypto disbursement platform that simplifies crypto disbursements allowing guilds and projects to pay thousands of people with crypto in three clicks. XLD Finance’s roadmap includes a crypto settlement API for merchants, an algorithmic stablecoin, and a web3 wallet Software Development Kit (SDK).

“People in emerging economies often encounter barriers that prevent them from creating financial accounts, paying for goods and services without their physical presence, sending money to loved ones at a low cost, accessing affordable credit, and building a savings portfolio, all of which prevent them from experiencing a better quality of life. I want to see a future where anyone with a mobile phone or computer and internet access can use “bank-like” financial tools via their preferred DeFi protocol or exchange,” said XLD Finance Co-founder and Chief Executive Officer Ian Estrada.

Both XLD Finance’s Co-founders, Ian Estrada and Herbie Fu, bring with them extensive experience in financial services and web3.

Estrada has had more than a decade of experience in telecommunications, financial technology, cryptocurrency, and venture capital. Prior to establishing XLD Finance, he held senior executive positions in the Philippines in general management, product, and strategy at Globe Telecom, the country’s largest telecommunications company; JG Summit, one of the largest Filipino diversified conglomerates; Cashalo, the Philippines’ largest consumer lending startup; GCash, a leading payments company backed by the Alibaba Group; and BPI Globe BanKO, the microfinance arm of the Bank of the Philippine Islands.

Fu, who is also the Chief Strategy Officer of XLD, is an early participant in the crypto and DeFi space. He has invested in over 100 crypto projects, including YGG, 0x, TrustToken, FTT, Solana, Chainlink, and M1 Network. He was also a co-founder of a $60 million multi-strategies crypto fund based in San Francisco.

Commenting on the funding round, Brian Lu, Founding Partner of Infinity Ventures Crypto said, “We believe in XLD’s vision of providing infrastructure for financial inclusion in emerging markets. There is an opportunity to solve the very real global challenge of financial access with less complexity through blockchain and decentralisation; XLD’s blockchain-based products will become as relevant as more traditional options.”

Hashtag: #XLDFinance #DragonflyCapital #InfinityVenturesCrypto

About XLD Finance

XLD is the borderless decentralized ecosystem that provides financial tools across emerging economies. XLD’s goal is to modernize the delivery and infrastructure of financial services to provide all users with simple and dependable financial tools built on decentralized technology.

For more information about XLD Finance, please visit

About Dragonfly Capital

Dragonfly Capital is a renowned global crypto venture fund managed by experienced VCs and seasoned builders. The fund backs founders and companies across all sectors in the cryptoasset class, such as infrastructure, DeFi, NFT, gaming, and more. Combining distinguished industry presence and cross-border influence, Dragonfly Capital provides proven access and support for its broad portfolio.

About Infinity Ventures Crypto (IVC)

Infinity Ventures Crypto (IVC) was founded to empower and invest in pioneering GameFi, DeFi and Web3 startups. The fund’s partners have invested in crypto assets since 2015 and have guided companies through a rapidly-evolving landscape. Since August 2021, IVC, currently the most active crypto VC in Asia with over 150 portfolio investments, and has made numerous strategic investments into a diverse range of startups including Yield Guild Games (YGG) and the Japanese yen-pegged stablecoin, JPYC. It is supported by Animoca Brands, Digital Currency Group, Circle, SEGA, and more. IVC aims to innovate, build, and catapult forward the next generation of founders.

Blockchain Solutions Provider ChainUp to Sponsor Morpheus Labs’ Web3 Sandbox Hackathon

Lead sponsorship voices firm commitment to nurturing Web3 talents and promoting blockchain education in Singapore

SINGAPORE – News Direct – 19 July 2022 – ChainUp Group, a blockchain technology solutions provider, today announced its sponsorship of Morpheus Labs’ Web3 Sandbox Hackathon in Singapore. The event is the year’s most prominent blockchain hackathon and will take place from 20 – 28 July 2022 in conjunction with Singapore Blockchain Week, organized by the Blockchain Association Singapore (BAS).

At the same time, the company also announced it has joined the BAS. As part of its mission to promote blockchain adoption and drive industry development, ChainUp is stepping up efforts to build a resilient and robust blockchain ecosystem in Singapore, Asia’s top cryptocurrency hub. In joining BAS, ChainUp will be part of the blockchain community in Singapore to engage other industry players to collectively propel the growth of the industry in the region and beyond.

ChainUp’s investment in the hackathon marks its significant commitment to not only build infrastructure that connects the digital marketplace with Web3 technology, but also raise the capacities of the global developer community by engaging promising young talent. The Web3 Sandbox Hackathon will bring together thousands of developers worldwide under a common vision of blockchain utility and promoting the future of Web3 technologies.

“Web3 is undoubtedly the future of digital. As lead sponsor of the Web3 Sandbox Hackathon, we are engaging the community at the grassroots level by championing the success of our upcoming Web3 developers. This hackathon offers a timely opportunity for us to discover inventive solutions to real-life business challenges and uncover new talents to grow together with us. By working with Morpheus Labs and joining the Blockchain Association Singapore, we are showcasing our commitment to invest in and support the blockchain infrastructure development and the building of the wider ecosystem”, said Jeff Mei, Chief Marketing Officer of ChainUp.

The reality of achieving new possibilities with Web3 technologies has become more tangible than ever, as the digital marketplace becomes increasingly interconnected. This hackathon is expected to attract over 1,000 attendees, and more than 500 investors, venture capitalists, and blockchain media personnel. The quest for innovation continues with insights from industry experts and the latest developments in the Web3 space.

“This hackathon is a brilliant showcase of some of the world’s brightest developers in the blockchain. And even more than that, it is also a designated space for innovation that will set the tone for the future of Web3 technologies,” said Morpheus Labs CEO, Chuang Pei Han. “We’re pleased to be supported by ChainUp in this endeavor. Their long-term dedication to supporting ecosystem readiness for the adoption of blockchain resonates deeply with what we’re aiming for with Web 3 Sandbox Hackathon.”

During the Web3 Sandbox Hackathon, ChainUp will also be participating in a panel discussion and industrial sharing to share practical insights into the crucial role of blockchain in Web3 development. For more information about Web3 Sandbox Hackathon, please refer to this link.

Hashtag: #ChainUp

About ChainUp Group

Founded in 2017, ChainUp is a leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange systems, NFT trading systems, wallet solutions, liquidity solutions, and digital assets custody and management. Headquartered in Singapore and with offices around the world, the company has served more than 1,000 clients in 30 countries, reaching over 60 million end-users.

For more information, please visit: .

Laos Energy Ministry Places Dams on Notice Amid Wet Season Storage

A hydropower dam in Laos

The Ministry of Energy and Mines has placed hydropower projects on notice across the country, telling them to ensure emergency plans are in place this wet season.

moomoo SG: 5 investing tips to hedge against inflation from experts

SINGAPORE – Media OutReach – 19 July 2022 – moomoo SG hosted its first physical conference earlier at Suntec Singapore Convention & Exhibition Centre. Zeroing in the second half of 2022, discussions over the tightening of monetary policy in Singapore against the backdrop of inflationary pressures and food crisis took centerstage due to global supply chain disruptions. These macroeconomic headwinds signaled efforts to keep the Singapore dollar strong even as the central bank raised full-year projections for inflation. It has become prudent for Singaporean investors to be well-versed with financial knowledge to grow their wealth despite frosty market conditions.

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moomoo SG convened with industry leaders to share valuable insights on how investors can grow their wealth in a volatile market. The session was designed to provide a well-rounded market outlook for the second half of 2022. There were some of the views of the WAYS TO HITS BACK INFLATION shared by the five investment experts during the conference.

Continue Investing, Diversify your portfolio

Evonne Tan, Head of Private Banking at Barclays Singapore, raised market concerns about slowing global growth and elevated inflation driving volatility in global markets. This often leads investors to deviate from their long-term goals and plans, but pre-empting market volatility through a core-satellite approach, embodied by low costs and diversification, opportunities abound for investors to outperform the market.

“Preparation for difficult periods through good diversification can support calmer decision-making and make it easier to stay the course. So, while others head for quick exits, an investor can capitalize on opportunities,” she said, noting that diversification can make it easier to stay invested and capitalize on new opportunities. Inflow to the five SGX-listed REITs and ETFs has also hit a record last month with over 60 million of inflows

Invest in REITs

Kang Wei Chin, AVP, ETF Product Management, SGX Group, suggested that despite increasing rates, S-REIT with the sector average dividend yield of 6.4% are still offering a higher yield spread of more than 300 basis points to Singapore’s 10-year bond yield. In addition, the sector in average has secured 75% of its borrowings on fixed rates. “Investors who are looking for more passive approach for either technical or strategic asset allocation, there are two S-REIT ETFs, namely CSOP iEdge S-REIT Leaders ETF and Lion-Phillip S-REIT ETF that invest solely into Singapore REIT market. And, for those who are searching for greater diversification or are who are already invested in Singapore REIT market can look at the other three ETFs, NikkoAM-StraitsTrading Asia Ex Japan REIT ETF, Phillip SGX APAC Dividend Leaders REIT ETF, and UOB Asia Pacific (APAC) Green REIT ETF.”

Beat the bear with the USD Money Market Fund

Bruce Zhang, Portfolio Manager, CSOP Asset Management, pointed that both the US stocks and US bonds fell on the back of the Fed tightening, and even commodity pricing started to fail in the fears of another recession. However, the USD Money Market Fund benefits from its relatively stable yield and the dollar strength due to the low sensitivity to Fed’s hikes, less FX risk on USD performance, and high-quality underlying exposures, said Bruce Zhang. He added that USD money market funds could provide a relatively competitive return versus the demand deposit but still have the demand deposit features, for example, the T0 creation and redemption. However, when the market is volatile, it can also provide safety and some necessary liquidity for investors.

Gold can against the headwind of rising yields

Jermyn Wong, Head of SPDR, added his insights on gold price performance since the start of the pandemic through the first half of 2022 and how it has historically performed robustly against market downturns. He shared that because gold remained resilient against the headwinds of rising yields, more investors are choosing to increase their Gold-ETF exposure as a hedge against market volatility.

Generate Cashflow

While hedging strategies are safety nets for investors’ portfolios, Borwen Neo from The Next Level, discussed how investors could also generate cashflow in a bearish market. Rather than counting on dividend yields or deleveraging portfolios, he urges investors to consider other investment tools as means to boost cashflow.

Keen on exploring more investment chances against inflation, visit: https://j.sg.moomoo.com/00kT3L

No content herein shall be considered an offer, solicitation, or recommendation for the purchase or sale of securities, futures, or other investment products. It does not take into account your investment objectives, financial situation or particular needs. All information and data, if any, are for reference only and past performance should not be viewed as an indicator of future results. It is not a guarantee for future results. Investments in stocks, options, ETFs, and other instruments are subject to risks, including possible loss of the amount invested. The value of investments may fluctuate and as a result, clients may lose the value of their investment. Please consult your financial adviser as to the suitability of any investment.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Hashtag: #moomooSG

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

Laos Nominated for 2024 ASEAN Summit

The flags of ASEAN

Laos has been nominated to host the third ASEAN Summit in 2024, with Indonesia hosting the summit in 2023.

MSIG Hong Kong 2021 Claims Report demonstrates ongoing commitment to customer satisfaction and making digital breakthroughs

HONG KONG SAR – Media OutReach – 18 July 2022 – MSIG Insurance (Hong Kong) Limited (“MSIG”) is delighted to announce that today it published the third annual MSIG Claims Report (“the report”). The report, which covers operations in Hong Kong and Macau, giving an overview of the total claims honoured in 2021 and corresponding top settlement ratio by class, and providing examples of customer testimonials in support of MSIG’s services. The report also highlights MSIG’s digital breakthroughs during the period under review, including Zero Touch for helper and medical plans, and updates to the EASY Claims user interface, and describes the company’s contributions to the insurance industry in Hong Kong.

Philip Kent, Chief Executive Officer of MSIG Hong Kong, said: “Our third annual report shines a spotlight on the hard work of our staff, both in how they supported our customers during the ongoing pandemic, as well as in the various innovative upgrades we introduced to our products and services. I am proud to say that we demonstrated our commitment to protecting those things our customers hold dear, and to delivering extraordinary service when they need it most.”

Unwavering customer commitment

MSIG’s top priority is to secure its customers’ safety and peace of mind. It does so by providing cover against illness, accidents and natural disasters. This year’s report states that MSIG honoured claims totalling HK$381,360,512 in Hong Kong and Macau. The company’s claims settlement ratio was 92.4% during the period, which is 1.4% higher than in 2020.

In terms of settlement ratios by class, the top five in 2021 were Employees’ Compensation in Hong Kong (100%), Helper (97.7%), Personal Accident (97.5%), Motor (94.3%) and Healthcare (93.1%).

Digital breakthroughs

The report demonstrates that in 2021, MSIG’s goal is to provide the utmost in convenience for clients through digital innovation. This included the launch of MediGo, a Customer Service Portal for the company’s SME Group Medical Insurance policy. The new portal offers online access for the convenience of employees and employers alike. Furthermore, the company continued to upgrade the features of the EASYi Claims and Policy Management Portal, which offered great convenience to intermediaries, particularly during the work-from-home period. Now, intermediaries no longer need to rely on traditional paper-based services, policy renewal and travel policy issuance can be carried out digitally on a single platform.

Going the extra mile during the ongoing pandemic

The report describes a number of ways MSIG continued to find ways to protect its customers during COVID-19. These include enhanced medical protection for essential trips, online shopping protection, and risk prevention for marine customers.

Industry contributions

The report not only describes the contributions made by MSIG senior leadership to the general insurance industry, it also highlights how the company has taken a number of steps to enhance its fraud detection capabilities by implementing anti-fraud technology.

Recognised by the industry

In 2021, MSIG received a total of three industry awards for its dedication to its customers. These include “Silver – Best in eCommerce (Brands) – Bank/Finance Services” at the Asia eCommerce Awards 2021; “Bronze – Best Membership Programme” at The Loyalty & Engagement Awards 2021; and “Gold Certificate” at The Privacy- Friendly Awards 2021.
Hashtag: #MSIGHongKong

About MSIG Insurance (Hong Kong) Limited (“MSIG Hong Kong”)

MSIG Hong Kong is a subsidiary of Mitsui Sumitomo Insurance Company, Limited within the MS&AD Insurance Group, Asia’s leading general insurance brand with presence in 50 countries and regions globally. The Group is amongst the world’s top 10 non-life insurance groups based on gross revenue*. It is the number one Japanese insurer with an A+ Stable credit rating. With over 40,000 employees world-wide, MSIG is represented in all ASEAN markets as well as in Australia, New Zealand, Hong Kong, Mainland China, Korea, India and Taiwan.

MSIG Hong Kong offers a wide range of solutions and services through an extensive distribution network including agents, brokers, and bancassurance alliances with leading banks. It has been providing general insurance solutions to customers in Hong Kong for more than 160 years, dating as far back as 1855.

*2021 Fortune Global 500, Property & Casualty Insurance Category

Vang Vieng Criticized for Unscrupulous Price Gouging

A sudden influx of international visitors to the tourist town of Vang Vieng has seen food and accommodation prices skyrocket, with many calling for government intervention.