October 26, 2024 @ 3:14 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has launched the IADS Developer Platform, a collaborative venture with the Hong Kong Science and Technology Parks Corporation (HKSTP) aimed at fostering innovation between banks and technology firms. This new platform, part of the Interbank Account Data Sharing (IADS)… Read More

October 26, 2024 @ 2:12 pm By Michael Wong  |  

South Korea is set to strengthen oversight of cross-border virtual asset trading, including cryptocurrency, with revised regulations slated for enactment by late 2025, according to reports. The government aims to revise the Foreign Exchange Transactions Act in collaboration with relevant agencies, intending to curb illegal… Read More

October 26, 2024 @ 7:55 am By Michael Wong  |  

Blockhain-focused Aark Digital has offered a 15% bounty in response to a recent security breach that led to the unauthorized withdrawal of around 1,386,085 USDC and 24.143 ETH. The incident, which involved unauthorized access to Aark Digital’s systems, resulted in the loss of approximately $1.4… Read More

October 23, 2024 @ 10:57 pm By Michael Wong  |  

The Financial Conduct Authority (FCA) is intensifying its efforts to curb illegal activities by financial influencers, commonly known as “finfluencers“, who may be promoting financial services unlawfully. As part of a targeted crackdown, the regulator has issued 38 alerts against social media accounts run by… Read More

October 23, 2024 @ 9:42 pm By Michael Wong  |  

Hata.io, a Malaysia-based digital asset brokerage and exchange in the Asia Pacific region, has raised $4.2 million in a seed funding round aimed at fueling its expansion. The newly secured capital will be used to develop new products and accelerate user acquisition across the Asia… Read More

October 23, 2024 @ 9:34 pm By Michael Wong  |  

Malaysia’s National Fraud Portal (NFP) has significantly reduced the time required to trace stolen funds by 75%, bringing the process down to just 30 minutes, according to the country’s Deputy Finance Minister Lim Hui Ying. Since its launch in April 2024, the NFP has also… Read More

October 23, 2024 @ 5:05 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has launched its Sustainable Finance Action Agenda, outlining a comprehensive strategy to reinforce Hong Kong’s standing as a leading sustainable finance hub in the region. The initiative aims to support the sustainable development of Asia and beyond by setting… Read More

October 23, 2024 @ 4:33 pm By Michael Wong  |  

Mortgage fintech platform BSI Financial Services has introduced Portfolio GuardianSM, an artificial intelligence-driven model that predicts the likelihood of borrowers refinancing their mortgages within a 90-day window. This AI tool generates an accurate prepayment score for each borrower in BSI’s portfolio, providing the company and… Read More

October 23, 2024 @ 10:20 am By Michael Wong  |  

Fintech companies are facing a challenging environment in 2024 due to high interest rates and heightened regulatory scrutiny, but they are also discovering new opportunities, according to the latest Future of Fintech Report from Silicon Valley Bank (SVB), a division of First Citizens Bank. Despite… Read More

October 22, 2024 @ 10:09 pm By Michael Wong  |  

DataCrunch, a European provider of artificial intelligence (AI) computing infrastructure, has secured €12 million in a seed funding round led by venture capital firm byFounders. The investment aims to bolster the company’s infrastructure as it strives to become Europe’s first hyperscaler, enhancing service delivery for… Read More

October 22, 2024 @ 3:08 pm By Michael Wong  |  

The Crowdfunding Professionals Association (CfPA) has commenced its highly anticipated 2024 Regulated Investment Crowdfunding Industry and Leadership Summit in Washington, D.C., signaling a pivotal moment for the crowdfunding sector. The two-day event, held from October 22 to 23, aims to unite industry experts, business leaders,… Read More

October 22, 2024 @ 11:14 am By Michael Wong  |  

Indonesia’s Financial Services Authority (OJK) has officially revoked the business license of peer-to-peer (P2P) lending platform PT Investree Radhika Jaya (Investree), citing the company’s failure to comply with minimum equity requirements and other regulatory standards. The decision marks a significant crackdown by OJK on financial… Read More

October 22, 2024 @ 11:11 am By Michael Wong  |  

Obligo, a US Fintech focused on bridging the trust gap between renters and landlords through flexible security deposit solutions, announced raising $35 million in its latest funding round. The latest investment round, co-led by True Global Ventures and 83North, comes at a time when Obligo… Read More

October 20, 2024 @ 9:47 pm By Michael Wong  |  

Mitsubishi Corporation, backed by Warrent Buffett, is set to acquire approximately 6.5% of Global Fintech Innovations Inc (Mynt), the parent company of the Philippines’ major finance super app GCash, according to regulatory filings. In a disclosure to The Philippine Stock Exchange, conglomerate Ayala Corporation announced… Read More

October 20, 2024 @ 8:54 pm By Michael Wong  |  

Nada, a Fintech company offering debt-free access to home equity for homeowners, has announced securing a revolving credit facility of up to $25 million from Kawa Capital Management. Kawa, an alternative asset management firm with over $3 billion in assets under management, is renowned for… Read More

October 20, 2024 @ 6:54 pm By Michael Wong  |  

Singapore’s Temasek Holdings and Saudi Arabia’s Public Investment Fund (PIF) are expected to maintain their credit strength advantage among rated sovereign wealth funds, Moody’s Investors Service said. Moody’s highlighted that both funds display stronger intrinsic credit quality, supported by superior credit metrics, excellent liquidity, and… Read More

October 20, 2024 @ 3:50 pm By Michael Wong  |  

MyFO, a Canadian platform catering to family offices and wealth management professionals, has closed its $3.5 million seed funding round, led by Rhino Ventures. The oversubscribed round will help the company scale operations, enhance product offerings, and expand its team as it seeks to meet… Read More

October 19, 2024 @ 4:19 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA), in collaboration with the banking sector, announced several measures to support small and medium-sized enterprises (SMEs) in their development, upgrade, and transformation. Aimed at enhancing competitiveness and productivity, these initiatives come as SMEs navigate changing market conditions. Since launching… Read More

October 13, 2024 @ 2:25 pm By Michael Wong  |  

Bahrain Fintech Bay (BFB), a financial technology hub, announced the establishment of the MENA Innovation Academy (MENA-IA) to enhance Fintech expertise and career readiness across the Middle East and North Africa region. The academy is launched in partnership with Reboot Coding Institute (Reboot01), an academic… Read More

October 13, 2024 @ 1:21 pm By Michael Wong  |  

Philippine digital banks aiming to tap the country’s large unbanked and underbanked population are facing significant risks associated with lending to these segments, Fitch Ratings reported. The Philippines, like several other Asia-Pacific markets, has lower credit and banking penetration compared to developed economies. Digital lenders… Read More