March 23, 2024 @ 8:03 am By Michael Wong  |  

Backed, a key player in the tokenization of real-world assets, has unveiled a new suite of services tailored for financial institutions looking to enter the digital asset space with security and compliance at the forefront. The Swiss-based company is expanding its offerings to include the… Read More

March 18, 2024 @ 12:56 am By Michael Wong  |  

The pilot of the Canton Network, a pioneering initiative for interoperability in the capital markets domain, saw significant participation from leading financial institutions, including 15 asset managers, 13 banks, four custodians, and three exchanges. Among the banks were major players like BNY Mellon, Goldman Sachs,… Read More

March 18, 2024 @ 12:06 am By Michael Wong  |  

Blockpass, a UK-based provider of compliant identity verification solutions for Web3, and Animoca Brands, a Hong Kong-based company known for advancing digital property rights in gaming and the open metaverse, announced a strategic partnership on to foster a more secure and compliant Web3 environment. The… Read More

March 17, 2024 @ 5:27 pm By Michael Wong  |  

The Central Government of India and the Asian Development Bank (ADB) have inked a pivotal loan agreement valued at $23 million as part of efforts to bolster the country’s fintech ecosystem. This landmark deal was signed at the Gujarat International Finance Tec-City (GIFT-City), setting the… Read More

March 17, 2024 @ 5:08 pm By Michael Wong  |  

The Securities and Exchange Commission (SEC) of Nigeria has announced proposed revisions to the regulatory framework for cryptocurrency service platforms. The adjustments include a substantial increase in the registration fee for cryptocurrency exchanges, escalating from 30 million naira ($18,620) to 150 million naira ($93,000). The… Read More

March 17, 2024 @ 9:55 am By Michael Wong  |  

Saudi Arabia-based fintech firm EdfaPay announced that it has secured a vital technical accreditation from Discover Global Network, which includes prestigious entities like Diners Club International. This accreditation marks EdfaPay as a partner of one of the world’s most advanced payment networks, which serves over… Read More

March 16, 2024 @ 3:13 pm By Michael Wong  |  

Starting in 2025, Japan and the Association of Southeast Asian Nations (ASEAN) plan to unify QR code payment systems to simplify transactions and avoid the need for currency exchange, especially benefiting tourists. This move, as reported by Vietnam News Agency (VNA) and announced by Japan’s… Read More

March 11, 2024 @ 10:35 pm By Michael Wong  |  

JB Financial Group announced plans to acquire a minority stake in Vietnamese retail investing application Infina, marking a strategic move to bolster the customer base of its securities affiliate in the fast-growing Southeast Asian market. Under the terms of the strategic partnership, JB Financial will… Read More

March 11, 2024 @ 8:30 pm By Michael Wong  |  

Philippine-listed network provider PLDT Inc. has announced the launch of Digico, a new digital venture created to harness the extensive data assets of the MVP Group of Companies. This initiative marks a significant move towards accelerating digital transformation and opening up new growth and value… Read More

March 11, 2024 @ 10:22 am By Michael Wong  |  

Bluwhale, an AI Web3 startup based in the San Francisco Bay Area, has secured a $7 million seed funding round to revolutionize the way companies connect with consumers through blockchain technology. The round was led by SBI, with contributions from both SBI Ven Capital and… Read More

March 11, 2024 @ 7:58 am By Michael Wong  |  

The Kremlin has announced plans to create an independent payment system within the BRICS group of nations, employing blockchain and digital currencies. Kremlin aide Yury Ushakov, in a detailed interview with Russian news agency TASS, highlighted the initiative aimed at developing a financial infrastructure that… Read More

March 10, 2024 @ 10:48 pm By Michael Wong  |  

Israeli Fintech firm Nayax has solidified its position in the Latin American market with the recent acquisition of VMtecnologia, a key player in the technology provision for the automated self-service industry in Brazil. This move, marking the company’s second acquisition in just over four months,… Read More

March 10, 2024 @ 2:26 pm By Michael Wong  |  

The Central Bank of Kenya (CBK) has significantly expanded its digital lending landscape by granting licenses to 19 new digital credit providers (DCPs), bringing the total to 51 licensed firms. This announcement marks the latest effort by the CBK to regulate the burgeoning fintech sector,… Read More

March 10, 2024 @ 12:00 pm By Michael Wong  |  

The departure of cryptocurrency giant Binance Holdings Ltd from Nigeria has raised concerns among experts and cryptocurrency enthusiasts about its potential to exacerbate youth unemployment in the country. The firm announced last week that it would cease all operations for the Nigerian naira, discontinuing support… Read More

March 9, 2024 @ 6:27 pm By Michael Wong  |  

Philippine bank lending in January 2024 surged by 7.8 percent compared to the same month the previous year, signaling a robust acceleration from the 7.1 percent growth recorded in December 2023, according to preliminary data released on March 8, 2024. This increase in lending by… Read More

March 9, 2024 @ 2:07 pm By Michael Wong  |  

Chinese Fintech firm Ant Group has announced substantial increases in transaction limits for international travelers using its cross-border payment services. Effective immediately, the single-transaction limit has been raised from $1,000 to $5,000, and the annual cumulative transaction limit from $10,000 to $50,000. This policy change,… Read More

March 3, 2024 @ 11:52 pm By Michael Wong  |  

The United Kingdom has taken a decisive step by introducing new legislation aimed at curbing the use of cryptocurrencies in criminal activities. Set to take effect on April 26, 2024, the updated Statutory Instrument under the Economic Crime and Corporate Transparency Act 2023 grants law… Read More

March 3, 2024 @ 8:50 pm By Michael Wong  |  

The Hong Kong Green Week – Finance Stream concluded Friday, marking the end of a series of sustainability-themed events that drew more than 1,600 participants from almost 30 jurisdictions worldwide. The week-long initiative brought together a diverse group of stakeholders, including financial institutions, corporates, central… Read More

March 3, 2024 @ 8:34 pm By Michael Wong  |  

Despite the tightening of monetary policy by the US Federal Reserve, the banking sector in the Gulf Cooperation Council (GCC) countries experienced sustained growth in lending during the second quarter of 2023, according to a recent report by Kamco Invest. This growth was largely driven… Read More

March 2, 2024 @ 1:51 pm By Michael Wong  |  

MercadoLibre Inc., the powerhouse of e-commerce and payments in Latin America, has appointed Andre Chaves as the head of its fintech division, Mercado Pago, in the country, according to a Bloomberg report. Chaves, 41, steps into his new role with a rich background in corporate… Read More