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In focus
- Syfe makes its big money move
- More products abound for Tokocrypto
- Biofourmis legal drama: context from our archives
Hello reader,
There’s a misconception that digital wealth platforms are just for 20-somethings trying to grow their first paycheck.
At least, that was the sentiment I got when I was looking at my investment options back when I was, admittedly, in my 20s. The pitch was always about lower fees, no minimums, and an app that looked and worked better than any banking app I’d ever tried.
But when I dug into Syfe’s latest financial statement for today’s first featured story, a different picture emerged. Its revenue from institutional clients – the big fish – more than doubled from the year before, now making up 41% of the pie.
The company’s partnership with giants like BlackRock is also an indicator of its increased focus on big money.
The initial results are promising. In FY 2025, Syfe grew its revenue to US$10.1 million and narrowed its loss before tax to US$6.5 million.
The firm told me that it wants to be the “primary home for wealth building” in Asia Pacific. It appears big corporations are welcome in that home.
Meanwhile, today’s second featured story looks at Tokocrypto’s plans for Indonesia to be a home for crypto transactions, and not just an off-ramp for locals’ investments in overseas platforms. It’s betting on futures trading to woo Indonesian crypto investors to keep their assets in the country.
Miguel Cordon, journalist
Top Stories
1️⃣ After Q4 EBITDA profit, Syfe to double down on core markets
Photo credit: Syfe
It appears that wealthtech in Singapore is on the up and up. Both Syfe and Endowus recently reported US$10 billion in assets under management.
From our archives
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