July 7, 2024 @ 3:32 pm By Michael Wong  |  

Azimut Egypt, a subsidiary of the global asset management firm Azimut International Holding, announced that it has secured the first Fintech license from Egypt’s Financial Regulatory Authority (FRA) for its new digital investment platform, “azinvest.” This marks a significant milestone in Egypt’s asset management sector… Read More

July 7, 2024 @ 8:56 am By Michael Wong  |  

North Carolina Governor Roy Cooper has vetoed House Bill 690 (HB 690), which sought to prohibit the state from using or participating in the testing of central bank digital currencies (CBDCs) conducted by the Federal Reserve, according to reports. The bill, titled “An act to… Read More

July 6, 2024 @ 1:52 pm By Michael Wong  |  

FreeBnk, a Lithuania-based fintech company specializing in services for crypto investors, has announced raising $3 million through a combination of equity and token funding. The investment round saw participation from Founderheads, ChaiTech Ventures, LVT Capital, and Lavender Capital. The company said it will use the… Read More

July 6, 2024 @ 1:42 pm By Michael Wong  |  

Canada’s financial regulator announced on Friday that it will delay the implementation of new rules requiring banks to change how they calculate lending risks, a move intended to give the country’s banks more time to adapt, Bloomberg has reported. The Office of the Superintendent of… Read More

June 30, 2024 @ 8:25 pm By Michael Wong  |  

MoneyHero Limited, a Nasdaq-listed platform for personal finance and digital insurance aggregation in Southeast Asia, has announced a strategic acquisition involving its subsidiary CompareHero. Under the terms of the agreement, CompareHero, which operates solely in Malaysia, will be acquired by Jirnexu Sdn. Bhd., the operator… Read More

June 30, 2024 @ 12:44 pm By Michael Wong  |  

The global fintech blockchain market, valued at $2.2 billion in 2022, is set to expand significantly, reaching $57.84 billion by 2031, with a compound annual growth rate (CAGR) of 43.8% from 2024 to 2031, according to SkyQuest. Fintech blockchain solutions, which integrate blockchain technology with… Read More

June 30, 2024 @ 10:43 am By Michael Wong  |  

Snappi, the pioneering Greek neobank, has obtained a universal banking license from the European Central Bank (ECB), following a proposal by the Bank of Greece. This approval marks a crucial milestone in Snappi’s mission to deliver next-generation financial services across Europe. The licensing process was… Read More

June 30, 2024 @ 10:32 am By Michael Wong  |  

Digital banking platform Ibanera has partnered with data-centric ECN firm DMALINK to address the financial challenges faced by technology companies. The collaboration merges DMALINK’s expertise in FX trading with Ibanera’s cross-border payment solutions, offering a comprehensive financial toolkit tailored to the needs of tech firms… Read More

June 29, 2024 @ 4:01 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) announced a significant expansion in its asset tokenization initiatives, aiming to set industry-wide standards across various financial sectors, including fixed income, foreign exchange (FX), and asset & wealth management. The announcement includes the successful completion of the first phase… Read More

June 29, 2024 @ 4:00 pm By Michael Wong  |  

Fintech firm Chime announced its acquisition of Salt Labs, an enterprise technology company dedicated to enhancing the financial stability of hourly workers. The transaction, which did not disclose its financial details, positions Chime to tap into new growth and revenue opportunities through Salt Labs’ extensive… Read More

June 23, 2024 @ 8:53 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has released its payment card statistics for the first quarter of 2024, revealing a steady rise in credit card usage and a mixed performance in debit card transactions. As of the end of Q1 2024, the total number of… Read More

June 23, 2024 @ 7:55 pm By Michael Wong  |  

India’s fintech sector is making significant strides, with the future unicorns currently valued at $58 billion, marking a 1.8% increase from the previous year. The latest ASK Private Wealth Hurun India Future Unicorn Index 2024, released by the Hurun Research Institute, showcases notable advancements and… Read More

June 23, 2024 @ 6:51 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, highlighted the importance of digitalization in enhancing rural bank operations during the Rural Bank Strengthening Program (RBSP) Technology and Innovation Forum. BSP Governor Eli M. Remolona, Jr. said the forum aimed to address… Read More

June 22, 2024 @ 9:44 pm By Michael Wong  |  

Indonesia’s government is stepping up its efforts to curb online gambling through a newly formed task force announced by Coordinating Minister for Political, Legal, and Security Affairs, Hadi Tjahjanto. The task force aims to sever access to international online gambling platforms and closely monitor associated… Read More

June 22, 2024 @ 5:41 pm By Michael Wong  |  

Southeast Asia’s tech sector has experienced a pronounced slowdown in funding during the first half of 2024, securing only $1.6 billion—a sharp 65% decline from the $4.5 billion raised in the same period last year, according to Tracxn’s latest “Geo Semi-Annual Report: SEA Tech H1… Read More

June 22, 2024 @ 5:39 pm By Michael Wong  |  

San Francisco-based Amplify Life Insurance, a digital platform that is redefining wealth-building through permanent life insurance, announced that it has raised $20 million in its Series B funding round. The round was co-led by Crosslink Capital and Anthemis, with participation from new investors Moneta Ventures… Read More

June 22, 2024 @ 10:26 am By Michael Wong  |  

Turkish Fintech startups have achieved a record investment of $166 million in the first five months of 2024, showcasing significant growth within the sector. This information was detailed in the “Türkiye Fintech Snapshot for May 2024,” published by the Presidency’s Finance Office, which tracks the development… Read More

June 22, 2024 @ 10:13 am By Michael Wong  |  

Fintech Nexus, a prominent name in the Fintech community formerly known as LendIt, has announced it will be closing down and filing for bankruptcy. Last year, Fintech Nexus exited large scale events – a sector of the Fintech industry the organization had largely dominated in… Read More

June 21, 2024 @ 12:25 pm By Michael Wong  |  

The Securities and Exchange Commission of Ghana (SEC) and the United Nations Capital Development Fund (UNCDF) unveiled comprehensive guidelines for equity and investment-based crowdfunding. This landmark initiative, crafted in partnership with key stakeholders and with substantial technical support from Lelapa African FinTech Advisory, represents a… Read More

June 20, 2024 @ 2:02 pm By Michael Wong  |  

Xcelerate Pte Ltd, a global Environmental, Social, Governance, Risk, and Compliance (ESGRC) platform, has announced the acquisition of a strategic equity stake in Gieom Business Solutions, a financial service compliance provider. The deal, which was carried out through a combination of primary and secondary investments, aims… Read More