Latest news with #British-headquartered
The Star
5 days ago
- Business
- The Star
Global fintech firms expanding in Singapore with larger offices, Asia-Pacific hubs
SINGAPORE (The Straits Times/ANN): The region's huge potential as a lucrative market for fintech services is prompting major players to expand their presence here and set up Asia-Pacific hubs. Singapore's business-friendly regulatory regime and proximity to fast-growing economies are making it a key destination for companies in the digital finance sector, they told The Straits Times. Ripple is one firm that recognises the potential. The blockchain payments company opened a bigger office here on July 14. The new workspace at IOI Central Boulevard Towers can accommodate up to 110 employees, well up on its old Robinson Road premises that had a capacity of 74. It has also been hiring, mostly staff in business development, sales, markets and for RippleX – a business unit within Ripple that provides resources for developers to build on the public blockchain XRP Ledger. Singapore, the firm's Asia-Pacific headquarters, handles 50 per cent of Ripple's digital asset payment flows. Ripple president Monica Long pointed to Singapore's significance as a hub, citing the country's clear regulatory framework and support for innovation. 'We see even more opportunity because of the broader global trend with stablecoin payments. We see that opportunity being especially big in the Asia-Pacific, so Singapore being our hub, we expect to grow that business here,' said Ms Long. Stablecoins – a cryptocurrency pegged to another asset such as fiat currency – can be used by businesses transferring funds across borders. Ms Long told ST at Apex 2025, an annual summit for the XRP Ledger community, that Singapore was chosen to host the event in June due to 'the really great collaboration with the Economic Development Board to foster the start-up ecosystem'. Ripple's expansion here mirrors similar moves by other fintech players. British-headquartered digital payments company Wise expanded its Asia-Pacific hub in April. Its new 31,800 sq ft office at Paya Lebar Quarter 3 is 25 per cent larger than its previous space at Paya Lebar Quarter 2. The Singapore team has more than doubled to over 600 since 2022, spanning functions such as engineering, operations, customer service and compliance. Singapore chief executive Shrawan Saraogi, who is also head of Wise's Asia-Pacific expansion, said many of its products, such as the debit card, were rolled out here. A local team led the design, build and launch of the card globally. The Asia-Pacific contributed about 22 per cent of its global revenue for the year ended March 31, 2025, while turnover for the region grew 22 per cent year on year. Mr Saraogi said coping with the different regulations in each country is one of the biggest challenges of expanding in the region. 'In contrast to Europe, where a single licence can be used across multiple markets, every country in Asia needs its own unique set of regulatory permissions before we can offer our services,' he noted. The company overcomes this by spending time understanding local regulations, building strong relationships with regulators and partners, and getting to know customer needs. 'All this is supported by opening local offices and hiring local team members. Having people on the ground... makes a big difference in our expansion journey,' said Mr Saraogi. April was also when Juspay, a global payments technology company based in India, opened an office in Robinson Road to serve as its regional base. The firm also announced a regional partnership with travel giant Agoda, which has adopted a range of Juspay's services. Mr Ishan Sharma, head of business development, said that a significant number of Juspay's India-based clients were expanding into the Asia-Pacific and the firm was getting requests to integrate some payment methods used in these markets. The firm saw the need to have a local presence and hire local talent. The teams started travelling to Singapore in 2023 for market research and created an entity here in November 2024. There are four local hires in the Singapore office, with plans to recruit more, said Mr Sharma. The firm is in discussions with Asian airlines and financial institutions like banks as well as fintech players to provide technology infrastructure. Mr Sharma said a major hurdle faced when setting up in a new market was helping merchants and clients understand the firm's value proposition. 'Making people understand what we do, how it can benefit them – in the initial year or two, it was a challenge,' he said. However, Mr Sharma is not deterred by the different regulations in Asia, given that the firm has experience navigating a heavily regulated market like India. 'Our learnings in the Indian ecosystem are only helping us there. We don't see that as a challenge, we see that as an opportunity,' he added.-- The Straits Times/ANN
Irish Post
01-07-2025
- Business
- Irish Post
Leading British sportswear chain increases footprint in Dublin
JD SPORTS will officially launch a new site in Dublin this week which significantly increases its footprint in the Irish capital. The British-headquartered sportswear chain will open its new store in Dundrum Town Centre on Thursday, July 3, which boasts 11,857 sq. ft of retail space – an increase of 3,654 sq. ft. on the retailer's previous unit at the shopping centre. JD Sports will open its new site in Dundrum Town Centre this week The new store will also generate an additional 20 jobs for the local area. To celebrate the launch, JD will offer a series of in-store experiences this week. The first 100 shoppers through the doors on July 3 will receive a special JD x Crep Protect x Montirex goodie bag. As partners of Ireland's Longitude Festival, JD will also give away five pairs of general admission tickets to the event to lucky shoppers on Friday, July 4. The festival takes place in Dublin on July 5 and 6. The new store will generate an additional 20 jobs for the local area 'We're excited to open the doors to our new, expanded store in Dundrum,' James Air, Director, Head of Group Acquistions at JD said today. 'This launch represents a major investment in bringing the best of JD to one of Ireland's premier shopping destinations,' he added. 'With a bigger space, enhanced store experience, and an unbeatable range of premium brands, we're proud to offer our Dublin customers more of what they love in one dynamic destination.' A series of launch events will take place in store this week Don Nugent, who is the Senior General Manager at Dundrum Town Centre, said the new store was a 'brilliant addition' to the centre. 'Their focus on elevating the customer experience, paired with an unbeatable line-up of leading brands, makes them a firm favourite with our visitors,' he explained. 'We're delighted to see them grow within the centre and can't wait for shoppers to experience everything the new store has to offer.' See More: Dublin, JD Sport, Latitude Festival, Opening, Store
Yahoo
20-03-2025
- Automotive
- Yahoo
This Company Has Plans for a Completely Outsourced EV—Right Down to the Build
London-based EV startup Perseus plans to build electric cars using a business model that involves almost no risk—at least to itself. It will enlist partners to make everything from the OEM platform to the styling to the infotainment and assembly. Has this been tried before? Did it work? None of the partners are being revealed at this time. Nor are any prices. But it does have a website. In Greek mythology, Perseus was the greatest Greek hero and slayer of monsters before the days of Heracles, according to the internet. He beheaded the Gorgon Medusa for Polydectes and saved Andromeda from the sea monster Cetus, among other accomplishments too numerous to go on the curriculum vitae. Nowadays, belief in deities being what is, he has apparently gone into the electric car business. As if there aren't enough monsters to slay there. 'Perseus, a new British-headquartered premium passenger-car EV brand, has today emerged from stealth mode and announced preliminary plans for its debut model—a compact SUV,' the startup said from London. 'The company has also provided initial details of the development and commercialization strategy to bring the vehicle to European markets by late 2027.' The key there being—for us, anyway—European markets. We won't be getting this. But the approach to car-making is intriguing. Perseus says it plans to build cars using a 'highly efficient, scalable, asset-light/capex-light business model.' Specifically, Perseus 'has established soon-to-be-announced global OEM and Tier-1 partnerships required to bring its first vehicle to mass-market production.' Asset-light/capex-light sounds like Perseus will be calling in suppliers and other companies to make all the parts and Persues will put them together into an EV? No. Further specifics: 'Perseus will license a proven, state-of-the-art EV platform from a European OEM Group. It is also collaborating with a pre-eminent Italian design and engineering house for interior and exterior styling, pre-concept development, prototyping, serial engineering, testing and validation requirements.' And it's not even going to assemble the finished product. 'To speed up time to market and to de-risk execution, the company is engaging with a European contract manufacturer to build its first model to OEM-level quality production standards. This fully flexible and scalable production model will enable Perseus to reach market with maximum efficiency and avail itself of the most advanced manufacturing processes and industrialization capabilities.' It sounds like stone soup. Or, 'I could make a meatball sandwich if I just had a bun. And some meatballs…' Even the infotainment will be farmed out. Perseus is partnering with existing makers of HMI, AI, and automotive software for that. And it will all work, the company promises. 'Defined by attainable premium values, the Perseus SUV will combine inspirational and emotive design, groundbreaking technology, engaging performance and exceptional user experience with compelling value. These attributes will differentiate the Perseus SUV from, and elevate it above, competitor vehicle offerings.' Sales will be online and direct-to-consumer, so there won't even be any dealers. But there will be 'brand experience centres.' Service will be handled by the OEM EV platforms maker's network. We won't be getting any Perseii here, but it'll be fun to watch it all happen from across the Atlantic. Perseus says it will unveil more details on its 'comprehensive portfolio of strategic partnerships and senior leadership team over the coming months, followed by updates on the design and technology of the Perseus SUV.' Have a look at
