Why M-Daq is one of Singapore's big fintech hopes

The online payments company has won recognition from the city state's central bank and boasts investors including Citi's VC arm. It plans to go public in three to five years.

M-DAQ is a fast-growing company recognised last year by the Monetary Authority of Singapore as the one of the most innovative fintech start-ups.

With the slogan “world without currency borders”, M-DAQ uses its in-house technology platform to help customers trade and settle physical and financial assets in their preferred currency.

Founded in 2010, the Singapore-based company was established from a simple idea of showing US stocks in Singapore dollars in real-time using streaming technology.

The idea was then expanded into cross-currency settlement for brokers and e-commerce platforms, thus helping them mitigate foreign exchange risks and reduce FX costs.

In an e-commerce...

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