April 25, 2024 @ 10:45 am By Michael Wong  |  

Wealthtech startup Midas, which specializes in democratizing retail investing, has secured $45 million in Series A funding to expand its financial services offerings. The funding round was led by Toronto-based venture capital firm Portage, known for its significant investments in the Fintech sector, including a… Read More

April 25, 2024 @ 10:06 am By Michael Wong  |  

New York-based Fintech firm Finsight Group Inc announced its acquisition of T-REX, a cloud-native platform known for its capabilities in modeling and managing complex investments across private credit, structured credit, and project finance. The acquisition includes the onboarding of Benjamin Cohen, founder and CEO of… Read More

April 25, 2024 @ 8:59 am By Michael Wong  |  

Thailand-based payment solution company T2P Co Ltd announced a strategic partnership with Wise Platform, an infrastructure provider for banks, Fintechs, and enterprises. Announced Thursday, this alliance positions T2P as the first in Thailand to offer international money transfers without exchange rate markups or hidden fees… Read More

April 22, 2024 @ 11:07 pm By Michael Wong  |  

Softloans, a Fintech startup headquartered in Vilnius, Lithuania, has successfully secured €1 million in pre-seed funding to bolster its growth and development initiatives. The investment round was spearheaded by venture capital firm Firstpick, alongside contributions from several business angels, signaling strong investor confidence in the… Read More

April 22, 2024 @ 9:15 pm By Michael Wong  |  

Ant International, a Fintech and digital payment company headquartered in Singapore, has unveiled plans to establish a new Digital Business Centre in Malaysia, aimed at tapping into the region’s burgeoning tech talent to bolster its global operations. Scheduled to open in 2025, the center will… Read More

April 22, 2024 @ 8:17 pm By Michael Wong  |  

Aeon Bank (M) Bhd, a recipient of one of Malaysia’s five digital banking licenses, announced plans to commence operations and launch its banking application by the end of Q2 2024, news agency Bernama has reported. Raja Teh Maimunah Raja Abdul Aziz, CEO of Aeon Bank,… Read More

April 20, 2024 @ 8:21 pm By Michael Wong  |  

The Internal Revenue Service (IRS) is currently seeking public feedback on a proposed new form, 1099-DA, which is designed to report proceeds from digital asset transactions conducted by brokers, set for introduction in 2025. This initiative marks a significant step towards the formalization of tax… Read More

April 20, 2024 @ 4:20 pm By Michael Wong  |  

Digital asset platform Tokenize Xchange, together with its affiliate, Web3 specialist Titan Lab, unveiled the Titan Chain at the Token2049 event in Dubai, according to a Business News Asia report. This new blockchain network, also referred to as the TKX Mainnet, marks a major leap… Read More

April 14, 2024 @ 2:12 pm By Michael Wong  |  

The International Monetary Fund (IMF) announced that Bulgarian economist Kristalina Georgieva has been selected to serve a second five-year term as its managing director, beginning October 1. The IMF’s executive board praised Georgieva for her “strong and agile leadership,” which has steered the institution through… Read More

April 14, 2024 @ 10:05 am By Michael Wong  |  

Global fintech platform iCapital, which is renowned for driving the world’s alternative investment marketplace, has announced a strategic partnership with global credit specialist Bain Capital Credit, L.P. This collaboration is set to provide financial advisors and high-net-worth investors with enhanced access to a suite of… Read More

April 13, 2024 @ 3:33 pm By Michael Wong  |  

Akad Seguros, a digital insurance firm based in São Paulo, has successfully completed a Series A funding round, raising $22.5 million, according to an announcement. The funding effort was spearheaded by Valor Capital Group and included significant contributions from Across, Endeavor Scale-Up Ventures, Endeavor Catalyst,… Read More

April 13, 2024 @ 2:30 pm By Michael Wong  |  

The UK’s Financial Conduct Authority (FCA) has called for the establishment of a new industry body to enhance the functioning of Britain’s “highly concentrated” consumer credit ratings market, which it says is currently not serving consumers well, Reuters has reported. The consumer credit ratings market,… Read More

April 13, 2024 @ 1:48 pm By Michael Wong  |  

Former Prime Minister Thaksin Shinawatra endorsed the new digital wallet initiative, suggesting it could be a significant boon for Thailand’s sluggish economy, according a report by The Nation. Speaking at the Kiattiocha Restaurant in Chiang Mai province, where he was joined by his sisters and… Read More

April 13, 2024 @ 1:45 pm By Michael Wong  |  

Alfa-Bank has achieved a significant technological milestone by becoming the first bank in Russia to launch its mobile banking application, Alfa-Online, on the domestic Aurora operating system, now updated to its fifth version. This initiative marks a notable advancement in the integration of Russian-developed technology… Read More

April 8, 2024 @ 10:51 pm By Michael Wong  |  

In the first quarter of 2024, funding for fintech startups saw a 16% decline from the previous quarter, contrasting with an 11% increase in overall venture funding, which reached $58.4 billion, according to the latest CB Insights Q1 2024 State of Venture Report. The fintech… Read More

April 7, 2024 @ 9:15 pm By Michael Wong  |  

The Reserve Bank of India (RBI), the apex banking authority in the nation, is gearing up to unveil a comprehensive framework for a self-regulatory organization (SRO) specifically tailored for the fintech sector. This forthcoming initiative was revealed by Governor Shaktikanta Das during the post-monetary policy… Read More

April 7, 2024 @ 8:16 pm By Michael Wong  |  

Shinhan Bank, a prominent player in South Korea’s banking sector, is set to enter the digital arena, vying for a license to become the country’s fourth internet-only bank, according to a Korea Herald report. The move positions Shinhan to compete with established digital banks such… Read More

April 7, 2024 @ 7:32 pm By Michael Wong  |  

China’s central bank announced on Sunday plans to establish a substantial 500 billion yuan ($70 billion) re-lending initiative aimed at bolstering the nation’s science and technology sectors, according to  a Reuters report. This move underscores the country’s commitment to fostering innovation and supporting its burgeoning… Read More

April 7, 2024 @ 9:14 am By Michael Wong  |  

Financial inclusion data provider Smile API has successfully closed a funding round with DEG‘s Up-Scaling program, a venture supported by the German Development Finance Institution. This initiative, co-financed by the German Ministry for Economic Cooperation and Development, channels investments into innovative Fintech and greentech ventures… Read More

April 6, 2024 @ 12:12 pm By Michael Wong  |  

Following a nine-day trial, a jury in the United States District Court for the Southern District of New York has found Terraform Labs PTE Ltd. and its former CEO, Do Kwon, guilty of defrauding investors in crypto asset securities. The verdict comes after the Court’s… Read More