September 8, 2024 @ 5:40 pm By Michael Wong  |  

Thailand’s Securities and Exchange Commission (SEC), in collaboration with the Economic Crime Suppression Division (ECD) of the Central Investigation Bureau (CIB), launched a joint operation to target unlicensed businesses soliciting investments at a Fintech exhibition in Bangkok on Saturday. The operation followed reports from the… Read More

September 8, 2024 @ 4:13 pm By Michael Wong  |  

National legislatures will play a pivotal role in shaping the future of artificial intelligence (AI) and enhancing cybersecurity, according to a statement released by representatives of the Group of Seven (G7) countries. The statement was issued at the conclusion of the G7 Speakers’ Meeting held… Read More

September 7, 2024 @ 11:35 am By Michael Wong  |  

Jingdong Technology Holding Co. Ltd., the fintech arm of Chinese e-commerce giant JD.com, is poised to acquire Home Credit Consumer Finance Co. Ltd., China’s first wholly foreign-owned consumer finance firm, according to sources cited by Caixin. The acquisition, which awaits approval from the National Financial… Read More

September 3, 2024 @ 11:05 pm By Michael Wong  |  

The International Finance Corporation (IFC), a member of the World Bank Group, has proposed an investment of up to $130 million in Asialink Finance Corp, a prominent lender to small and medium enterprises (SMEs) in the Philippines. The financing package, aimed at bolstering Asialink’s lending… Read More

September 1, 2024 @ 8:51 pm By Michael Wong  |  

Ant International has launched a strategic initiative to enhance financial inclusion in Brazil by partnering with Latin American payments and banking tech firm Dock. The partnership seeks to deliver AI-driven credit technology solutions to improve credit management and infrastructure efficiency for various clients, including financial… Read More

September 1, 2024 @ 5:44 pm By Michael Wong  |  

Singapore’s banking sector has emerged as a leader in decarbonisation policies among advanced economies in Asia, according to a recent report by Asia Research and Engagement (ARE), a sustainability-focused consulting firm. The report evaluated the climate goals and decarbonisation strategies of nine banks across Singapore,… Read More

August 31, 2024 @ 6:11 pm By Michael Wong  |  

The adoption rate of financial technology (fintech) in the Philippines is projected to rise significantly, with 79.5% of the population aged 15 and above expected to be using fintech mobile apps by the end of 2024, according to a new analysis by consumer credit service… Read More

August 31, 2024 @ 6:09 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) announced the conclusion of an investigation and subsequent disciplinary proceedings against WeChat Pay Hong Kong Limited (WPHK), resulting in a fine of HK$875,000 ($112,000). The penalty is imposed for violations under the Payment Systems and Stored Value Facilities Ordinance… Read More

August 31, 2024 @ 12:13 pm By Michael Wong  |  

Peregrine Exploration, a blockchain development and research company, secured $3.6 million in funding co-led by Polychain Capital and Dragonfly to advance the development of Level, a pioneering stablecoin protocol. This funding round also saw participation from prominent investors including Robot Ventures, Pier Two, EIV, Global… Read More

August 28, 2024 @ 3:22 am By Michael Wong  |  

The Reserve Bank of India (RBI) has announced tightened regulations for peer-to-peer (P2P) non-bank lending platforms, effective immediately, in response to some entities’ violations of the 2017 guidelines. The move aims to enhance transparency and ensure stricter compliance with regulatory standards, addressing concerns that certain… Read More

August 25, 2024 @ 9:41 pm By Michael Wong  |  

The Philippines’ financial industry is poised to accelerate the development of non-financial applications within the embedded finance sector by over 42% annually, according to a recently released report by Fintech Alliance PH. The report highlights the growing influence of fintech in non-banking sectors such as… Read More

August 25, 2024 @ 7:53 pm By Michael Wong  |  

A significant majority of consumers, 78%, in India now prefer to conduct their banking digitally through mobile apps or websites, according to a recent report by Alkami Technology. This shift underscores the broader move towards cashless transactions and contactless payments, trends that have accelerated significantly… Read More

August 25, 2024 @ 6:52 pm By Michael Wong  |  

Hong Kong’s Securities and Futures Commission (SFC) has uncovered unsatisfactory practices at several “deemed-to-be-licensed” cryptocurrency exchange platforms during recent on-site inspections, according to a Bloomberg report. These findings come as the city pushes forward with its ambition to become a leading digital-asset hub, but faces… Read More

August 25, 2024 @ 6:33 pm By Michael Wong  |  

Financial technology (fintech) investments in China showed a modest recovery at the end of 2023 and continued into 2024, according to KPMG’s Pulse of Fintech H1’24 report. Among the top ten fintech deals in the Asia-Pacific (APAC) region, five were from Mainland China and Hong… Read More

August 25, 2024 @ 6:12 pm By Michael Wong  |  

MoneySmart Group, a personal finance company in Southeast Asia, has rejected MoneyHero Group’s unsolicited, non-binding offer to acquire 100% of its shares. The offer, which MoneySmart’s board deemed neither serious nor credible, was dismissed unanimously due to its misalignment with the company’s strategic objectives and the… Read More

August 25, 2024 @ 12:32 pm By Michael Wong  |  

California-based crypto startup Sorella Labs has announced raising $7.5 million in its latest funding round anchored by tech investment firm Paradigm. The round, which will be used to finance the expansion of the startup’s operations and development efforts, was also backed by a host of… Read More

August 25, 2024 @ 9:37 am By Michael Wong  |  

Pavel Durov, the Russian-French billionaire founder and CEO of the messaging app Telegram, was arrested at Bourget airport outside Paris on Saturday evening. At one point, Durov sought to issue a native crypto TON (Gram), but following an enforcement action by the Securities and Exchange… Read More

August 24, 2024 @ 3:13 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks (HKAB) have launched a joint Taskforce on SME Lending, intensifying efforts to support small and medium-sized enterprises (SMEs) as they navigate a challenging economic landscape. The new Taskforce, announced by HKMA Chief… Read More

August 24, 2024 @ 8:42 am By Michael Wong  |  

Ecofinance, a European financial technology company, has officially forayed into Southeast Asia by launching its operations in the Philippines. The firm introduced a new consumer brand, Honey Loan, as part of efforts to tap into the region’s burgeoning fintech landscape space, according to the announcement…. Read More

August 24, 2024 @ 8:22 am By Michael Wong  |  

Mitsubishi UFJ Financial Group, Inc. (MUFG) and its consolidated subsidiary, MUFG Bank, Ltd., announced a significant additional investment of INR 27,988 million (approximately $339 million) in DMI Finance Private Limited, a digital financial services provider based in India. This investment is part of MUFG’s ongoing… Read More