July 21, 2024 @ 6:56 pm By Michael Wong  |  

The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. This agreement was formalized during a visit to the UAE by Indonesian President Joko Widodo. The MoU, signed by Khaled… Read More

July 21, 2024 @ 6:24 pm By Michael Wong  |  

Amid the accelerating shift towards digital banking, nearly half of banking customers in Ghana still favor traditional banking methods, according to the 2024 PwC Ghana Banking Survey Report. The survey reveals that 47% of respondents prefer to conduct their banking transactions through conventional means, highlighting… Read More

July 21, 2024 @ 2:20 pm By Michael Wong  |  

Misr Digital Innovation, the investment arm of Banque Misr, has received approval from the Central Bank of Egypt to launch One Bank, the country’s first native digital bank. This marks a significant milestone in Egypt’s banking sector, as it embraces the latest technological advancements in… Read More

July 20, 2024 @ 10:25 pm By Michael Wong  |  

BigPay, the digital financial services division of Malaysia-headquartered Capital A Bhd, has expanded its operations to Thailand. The e-wallet service, which offers features ranging from trip savings to seamless global payments and real-time currency exchange, aims to enhance financial inclusion in the region. The launch… Read More

July 20, 2024 @ 12:17 pm By Michael Wong  |  

Arta Finance, a US-headquartered digital family office for accredited investors, has secured approval to launch in Singapore, aiming to open its platform to Singaporean residents and other investors later this year. This move follows a significant expansion of Arta’s product offerings and team of industry… Read More

July 20, 2024 @ 9:22 am By Michael Wong  |  

South Kora’s Financial Services Commission (FSC) announced early this week that new stringent regulations targeting illegal transactions involving virtual assets will be enforced. The new legislation, known as the Virtual Asset Users Protection Act, mandates virtual asset exchanges to report illegal activities to the financial… Read More

July 19, 2024 @ 8:34 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) announced an additional commitment of S$100 million (about $74 million) under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0). This funding aims to bolster financial institutions in developing quantum and artificial intelligence (AI) capabilities and foster the… Read More

July 19, 2024 @ 12:13 pm By Michael Wong  |  

Allium, a blockchain data platform for enterprises, has raised $16.5 million in a Series A funding round led by Theory Ventures, with participation from seed investors Kleiner Perkins and Amplify Partners, according to an announcement. As part of the investment, Tomasz Tunguz, Founder of Theory… Read More

July 19, 2024 @ 12:03 pm By Michael Wong  |  

New Frontier Funding, a company that uses generative AI to assist small and medium-sized businesses (SMBs) in securing credit and debt funding, has closed a substantial round of growth capital from the Homsher Family Office. The financial terms of the transaction were not disclosed. This… Read More

July 19, 2024 @ 10:57 am By Michael Wong  |  

Slope, a fintech company specializing in innovative B2B financial solutions, announced it has raised $65 million in a new funding round. The investment, led by J.P. Morgan and Notable Capital, brings Slope’s total funding to $252 million, comprising $77 million in equity and $175 million… Read More

July 19, 2024 @ 7:04 am By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has revealed the participants of its stablecoin issuer sandbox, marking a significant step in the city’s drive to foster a regulated and sustainable stablecoin ecosystem. Earlier this week, the results of a consultation by the HKMA on stablecoins were… Read More

July 15, 2024 @ 4:30 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced a significant shift in security protocols for major retail banks. Over the next three months, banks will gradually discontinue using One-Time Passwords (OTPs) for customers who use digital tokens, a… Read More

July 14, 2024 @ 7:38 pm By Michael Wong  |  

Singapore’s latest blockchain initiative, Net Zero-X, launched this week, introducing a specialized exchange platform for institutional and accredited investors focused on green, clean, and climate tech projects. The platform aims to address the critical financing gaps that are impeding global efforts to transition to a… Read More

July 14, 2024 @ 3:29 pm By Michael Wong  |  

The United Nations Development Programme (UNDP) together with the timbuktoo Africa Innovation Foundation inaugurated the Fintech timbuktoo Hub in Lagos early this week. This pioneering facility, the first of its kind on the continent, aims to stimulate innovation, encourage collaboration, and expedite growth within the… Read More

July 14, 2024 @ 12:24 pm By Michael Wong  |  

WeBank, a pioneering Fintech giant, says it has established its new global headquarters in Hong Kong. The headquarters is expected to primarily focus on research and development (R&D) and the commercialization of technological solutions aimed at international markets, according to an announcement. The decision to… Read More

July 14, 2024 @ 12:19 pm By Michael Wong  |  

European banking giant BNP Paribas announced that it has launched the BNP Paribas Cross Asset Trend and AI Index in Brazil in partnership with AI-driven investment solutions company QuantumStreet AI. The newly launched index marries traditional trend-based investment strategies with advanced AI technology provided by… Read More

July 13, 2024 @ 8:56 am By Michael Wong  |  

Exein, a Rome, Italy-based company specializing in embedded IoT cybersecurity, announced it has secured €15 million (about $16.4 million) in a Series B funding round led by 33N, a firm focused on cybersecurity and infrastructure software investments. The round also included contributions from Partech and… Read More

July 13, 2024 @ 6:29 am By Michael Wong  |  

Bangladesh’s BRAC Bank has achieved a significant milestone in digital lending in the country by providing over 12,000 digital instant loans, amounting to more than BDT 1 billion (100 crore), within a year of its soft launch. The bank’s Digital Instant Loan facility, recognized as… Read More

July 8, 2024 @ 9:34 am By Michael Wong  |  

Total funding for Southeast Asian (SEA) Fintech startups dropped 25% to $899 million in the first half of 2024 from $1.2 billion in the same period last year, according to a report released by Tracxn. The global SaaS-based market intelligence platform’s “Geo Semi-Annual Report: SEA… Read More

July 7, 2024 @ 4:30 pm By Michael Wong  |  

The International Trade Centre’s (ITC) SheTrades Initiative, Visa, and the Qatar Fintech Hub (QFTH) operated by Qatar Development Bank (QDB) have unveiled the latest phase of their partnership aimed at bolstering youth and women entrepreneurs in Kuwait and Qatar. This collaboration introduces “Small Steps to… Read More