December 1, 2024 @ 6:22 pm By Michael Wong  |  

South Korea’s main opposition Democratic Party of Korea (DPK) agreed on Sunday to postpone the implementation of a controversial cryptocurrency tax by two years, responding to mounting investor backlash and political pressure. The decision mirrors the party’s move a month earlier to scrap a planned… Read More

December 1, 2024 @ 2:00 pm By Michael Wong  |  

US-based cryptocurrency exchange Coinbase has withdrawn its pre-application to operate in Turkey, according to a report by Turkiye Today. The Capital Markets Board of Türkiye updated its list of companies requesting liquidation on November 29. The update revealed that Coinbase, which had initially filed its… Read More

November 30, 2024 @ 8:16 pm By Michael Wong  |  

British digital savings and mortgage platform Tembo has secured €16.8 million ($17.8 million) in a Series B funding round, aiming to expand its services and tackle the ongoing affordability challenges in the UK’s housing market. This latest investment brings the company’s total funding to €24… Read More

November 24, 2024 @ 6:46 pm By Michael Wong  |  

Qatar Development Bank (QDB) has announced a strategic investment in Wahed, a global financial technology company that specializes in Shariah-compliant investing. The move underscores QDB’s commitment to fostering innovation and advancing Islamic finance. Wahed, founded in 2015, has grown into a major player in the… Read More

November 24, 2024 @ 6:42 pm By Michael Wong  |  

Australia’s Department of the Treasury has initiated a consultation on implementing the Organisation for Economic Cooperation and Development’s (OECD) Crypto Asset Reporting Framework (CARF). The framework is designed to enhance tax transparency and improve compliance by standardizing the collection and exchange of tax-related information on… Read More

November 24, 2024 @ 6:40 pm By Michael Wong  |  

South Korea’s Financial Supervisory Service (FSS) plans to enhance the monitoring of abnormal transactions in virtual asset exchanges as market volatility intensifies, particularly following the U.S. presidential election. This move aims to address gaps in current systems and bolster consumer protection measures. Virtual asset exchanges… Read More

November 23, 2024 @ 5:40 pm By Michael Wong  |  

Philippine fintech startup Salmon is aiming to secure a thrift bank license for the Rural Bank of Santa Rosa as part of its strategic expansion in the country, according to company officials. The move is intended to transform the rural bank into a retail-oriented thrift… Read More

November 17, 2024 @ 9:08 pm By Michael Wong  |  

A group of prominent Philippine financial institutions has teamed up with Web 3.0 fintech firm JUST Finance to introduce PHPX, the first bank-collateralized Philippine Peso stablecoin. This initiative, led by UnionBank of the Philippines (UBX), RCBC, Cantilan Bank, and Rural Bank of Guinobatan, along with… Read More

November 17, 2024 @ 6:06 pm By Michael Wong  |  

FortiCard, a Singapore-based global Fintech firm, has announced the establishment of its subsidiary in the United States and the acquisition of a Money Services Business (MSB) license issued by the Financial Crimes Enforcement Network (FinCEN) under the U.S. Department of the Treasury. This development marks… Read More

November 17, 2024 @ 6:04 pm By Michael Wong  |  

Dubai-based spend management platform Pemo announced raising $7 million in a Pre-Series A funding round. The investment comes as the company seeks to accelerate its growth in the Gulf Cooperation Council (GCC) region, including plans to expand into Saudi Arabia. The funding round was co-led… Read More

November 16, 2024 @ 4:13 pm By Michael Wong  |  

Global card payment processor Visa (NYSE:V)has made strategic investments in four African startups—Ghana’s Oze, Nigeria’s Orda, and Kenya’s WorkPay and OkHi—following their participation in the company’s Africa Fintech Accelerator program. The initiative, launched in 2023, is part of Visa’s broader commitment to invest $1 billion… Read More

November 10, 2024 @ 5:05 pm By Michael Wong  |  

Fintech companies from mainland China are increasingly choosing Hong Kong as the base for their headquarters, attracted by the city’s capital accessibility and a strong talent pool. These firms are leveraging Hong Kong’s strategic position to expand their operations into ASEAN markets. KN Group, a… Read More

November 10, 2024 @ 1:08 pm By Michael Wong  |  

Pharos, a layer-1 blockchain network focused on hyper-parallelism, has completed an $8 million seed investment round. The funding was co-led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic anchor investor. Additional support came from Reforge, Dispersion Capital, Hash Global, Generative… Read More

November 10, 2024 @ 1:04 pm By Michael Wong  |  

Thailand has the potential to become a world-class digital hub, which could offer a lot of economic opportunities for the country, Digital Economy and Society Minister Prasert Jantararuangtong said. During Thailand Blockchain Week 2024 at Emsphere shopping mall in Bangkok, he noted that digital technology,… Read More

November 9, 2024 @ 7:54 pm By Michael Wong  |  

Global digital payment and financial services firm Ant International is collaborating with industry partners to develop the MSME Sustainability Impact Scorecard (MSME S-Card). This pioneering digital solution aims to empower Micro, Small, and Medium Enterprises (MSMEs) in Asia to track their environmental and social impacts… Read More

November 9, 2024 @ 7:26 am By Michael Wong  |  

Binance Labs has made its first foray into the Decentralized Science (DeSci) sector with an investment in BIO Protocol (BIO), a pioneering platform aimed at transforming early-stage scientific research financing and commercialization through blockchain technology. BIO Protocol is likened to a Y Combinator for on-chain… Read More

November 3, 2024 @ 9:42 pm By Michael Wong  |  

The Public Investment Fund (PIF) and the Hong Kong Monetary Authority (HKMA) have signed a memorandum of understanding (MoU) at the Future Investment Initiative (FII) 8th Edition in Riyadh to jointly anchor a proposed $1 billion investment fund. The initiative, announced on October 31, is… Read More

November 3, 2024 @ 4:15 pm By Michael Wong  |  

Australian crowdfunding platform Equitise has entered administration after failing to secure new funding necessary to sustain its operations, according to a filing lodged with the corporate regulator seen by The Australian Financial Review. It was reported earlier this year that Equitise had lost its license… Read More

November 3, 2024 @ 4:09 pm By Michael Wong  |  

Warburg AI, a UAE-based artificial intelligence company specializing in financial services, has raised $250,000 in seed funding to accelerate the development of its AI-driven financial solutions, according to an announcement. Founded in September 2024 in Sharjah by entrepreneurs Ben Feaver, Lancelot de Brier, and Madiyar… Read More

November 2, 2024 @ 4:18 pm By Michael Wong  |  

Listed firm CryptoBlox Technologies Inc. has announced its acquisition of Blockchain Fintech Unipessoal LDA, a Portuguese company specializing in blockchain-based financial technologies. The announcement was part of the amended agreement that revises the initial acquisition terms disclosed on March 5, 2024, reflecting the latest developments… Read More