June 2, 2024 @ 9:06 pm By Michael Wong  |  

Spark Fintech Limited, an affiliate of Bybit, one of the world’s top three cryptocurrency exchanges by volume, has announced its decision to withdraw its application for a Virtual Asset Services Providers (VASP) license with the Hong Kong Securities and Futures Commission (SFC). This strategic decision… Read More

June 2, 2024 @ 6:47 pm By Michael Wong  |  

Philippines-based fintech startup Beppo has completed a pre-seed funding round, enabling the acquisition of JuanTax, a Bureau of Internal Revenue (BIR)-accredited tax platform, and five pioneering bookkeeping firms. The funding round, for an undisclosed amount, was led by Wavemaker Partners with participation from angel investors…. Read More

June 1, 2024 @ 2:56 pm By Michael Wong  |  

Ant Group and Mastercard, alongside 12 overseas payment partners of Alipay+ and other major card organizations, announced the launch of the International Consumer Friendly Zones program in Shanghai. This initiative aims to enhance the travel experience for global visitors and stimulate economic growth for local… Read More

June 1, 2024 @ 12:45 pm By Michael Wong  |  

Chilean Paytech startup Koywe has announced the acquisition of Facto, a move that will expand its presence in the US. The acquisition also comes 15 months after Koywe raised $2.5 million in a Seed funding round in January 2023. The terms of the acquisition were… Read More

June 1, 2024 @ 10:49 am By Michael Wong  |  

Virrtue, a Texas-based finance and accounting business process outsourcing (BPO) company, announced its acquisition of Virgate, a technology-driven accounting services firm based in Gloucester, England. This move is set to enhance Virrtue’s technological capabilities and expand its footprint in the UK and European markets. Arvind… Read More

June 1, 2024 @ 10:34 am By Michael Wong  |  

The International Finance Corporation (IFC), part of the World Bank Group, has launched a new initiative to facilitate financial support for small businesses in emerging markets, particularly those owned by women and those in the agriculture and climate sectors. The MSME Finance Platform will channel… Read More

May 26, 2024 @ 8:47 pm By Michael Wong  |  

Colendi, a digital banking startup based in Turkey, has successfully raised $65 million in a Series B funding round, marking a significant milestone for the country’s fintech sector as it enters 2024 with strong momentum. This funding round has propelled Colendi’s valuation to an impressive… Read More

May 26, 2024 @ 7:43 pm By Michael Wong  |  

Aeon Bank (M) Bhd officially launched its digital bank on Sunday, marking a historic milestone as Malaysia’s first Islamic digital bank. The launch aims to provide comprehensive, shariah-compliant digital banking solutions to all Malaysians. At the press conference held during the public launch ceremony, Chief… Read More

May 26, 2024 @ 2:42 pm By Michael Wong  |  

Approximately 60% of U.S. cryptocurrency investors admit they do not understand blockchain technology, according to a recent survey conducted by language-learning company Preply. The survey, which included responses from 1,001 people living in the U.S., examined participants’ knowledge, interest, and experience with cryptocurrency. The findings… Read More

May 25, 2024 @ 12:06 pm By Michael Wong  |  

Filinvest Development Corp. (FDC) announced that its subsidiary, f(dev) Digital Innovations and Ventures Inc., along with partner Investree Singapore Pte. Ltd., have agreed to wind down the operations of Investree PH Inc., the Philippines’ first crowdfunding platform. In a disclosure to the stock exchange, FDC… Read More

May 25, 2024 @ 8:04 am By Michael Wong  |  

CBiGroup, a US-based fintech company, has raised $15 million in a Series A funding round led by Alpol Capital Family Office, renowned for its investments in new technologies. The newly acquired funds will be used to enhance research and development efforts, particularly in new technologies… Read More

May 21, 2024 @ 9:48 pm By Michael Wong  |  

The Saudi Central Bank (SAMA) has officially licensed Hala Financing to provide debt-based crowdfunding solutions in Saudi Arabia, a significant step in broadening the financial services available within the kingdom. This recent authorization increases the total number of companies licensed to offer these services to… Read More

May 21, 2024 @ 9:01 am By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has launched the digital yuan, also known as e-CNY,marking a significant step in the integration of digital currencies in the region’s financial system. According to reports from Sing Tao Daily, the launch event was hosted by Howard Lee Tat-chi,… Read More

May 21, 2024 @ 8:40 am By Michael Wong  |  

Osome, a Singapore-based financial administration platform catering to founders and small and medium-sized businesses (SMBs), has raised over $17 million in its Series B funding round which was a combination of equity and debt financing. The round saw participation from both new and existing investors…. Read More

May 20, 2024 @ 7:43 am By Michael Wong  |  

Yendo, the creator of the first vehicle-secured credit card, announced that it has closed a significant financing round, totaling $165 million. This includes $150 million in debt financing led by i80 Group, with an additional $15 million in equity from undisclosed strategic investors. The funds… Read More

May 19, 2024 @ 6:33 pm By Michael Wong  |  

Digital lender Maya Bank and WeFund Lending Corp., through Lightning Financing Co., have signed a P2.75-billion ($48 million) loan channeling agreement aimed at enhancing credit accessibility for unbanked and underserved communities in the Philippines. “We are proud to work with WeFund, and this initiative is… Read More

May 19, 2024 @ 9:29 am By Michael Wong  |  

Woori Bank, a major South Korean commercial lender, has officially entered the competition to secure a license for the country’s fourth internet-only bank. The bank confirmed that it had submitted a letter of intent to join the Korea Credit Data (KCD) led consortium. This move… Read More

May 13, 2024 @ 7:07 pm By Michael Wong  |  

CIFDAQ, a Fintech company specializing in a comprehensive array of blockchain-based services, announced the inauguration of its operations across India, with a strategic aim to harness the potential of the nation’s burgeoning digital finance sector. Founded with the vision to streamline blockchain applications for mainstream… Read More

May 12, 2024 @ 1:08 pm By Michael Wong  |  

Rasan Information Technology Co., along with its shareholders, aims to raise up to 841 million riyals ($224 million) in an initial public offering in Riyadh, marking one of the first IPOs by a fintech firm in Saudi Arabia, Bloomberg reported. The firm has set the… Read More

May 12, 2024 @ 11:27 am By Michael Wong  |  

South African fintech company Lesaka Technologies, Inc. has announced a definitive agreement to acquire Adumo RF (Pty) Ltd for approximately ZAR 1.59 billion ($85.9 million). The deal, which hinges on shareholder and regulatory approvals, is expected to close in the third quarter of 2024. Under… Read More