Asia

China: WeiyangX Fintech Review

People’s Bank of China Digital Currency Research Institute and Didi reached a strategic cooperation to explore the application of digital currency The Digital Currency Research Institute of PBC and Didi Travel have officially reached a strategic cooperation agreement to jointly explore the innovation and application… Read More

Zilliqa to Work with Binance on Dollar based Stablecoin

Zilliqa, an enterprise-level blockchain platform, says it will work with Binance to bring the BUSD stablecoin onto the Zilliqa network. The BUSD stablecoin, issued in partnership with the Paxos Trust Company, is regulated by the New York Department of Financial Services and audited on a… Read More

Digital Bank Tonik, which Plans to Launch in the Philippines, chooses Mastercard as Payments Partner

Tonik, the very first all-digital banking platform in the Philippines, has reportedly chosen Mastercard as its payments partner as the company gets ready to officially launch its operations later this year. Through the partnership, Mastercard will be supporting Tonik by acting as its Fintech accelerator…. Read More

Cryptocurrency Exchange bitFlyer to Develop Digital Asset Wallet for Brave Browser Users

Tokyo-based digital currency exchange bitFlyer has teamed up with Brave International SEZC, a subsidiary of Brave Software, Inc., the developer of the Internet browser – which monetizes web browsing by using the Basic Attention Token (BAT). As mentioned in a release shared with CI, bitFlyer… Read More

Apps for P2P Money Transfers and Account Aggregation are Most Popular Fintech Solutions in the Middle East: Survey

Approximately 20% or one-fifth of bank account holders in the Middle East are now using Fintech solutions, according to a recent survey performed by Deloitte. The survey, which examined nine key markets in the Middle East, reveals that consumers in the region are quite willing… Read More

Tencent Cloud Signs MoU with Singapore’s Asia Digital Bank Corporation to Develop Cloud based Financial Services

Tencent Cloud, the cloud computing division of Tencent Holdings, a major provider of internet value-added services in China, revealed on July 8, 2020, that it has committed to a Memorandum of Understanding (MoU) with Singapore’s Asia Digital Bank Corporation (ADBC). As mentioned in a release,… Read More

CBDCs: China’s E-commerce Platform, Meituan, and Nation’s Largest Video Sharing Site, Bilibilibili, Now Working on Digital Yuan

Chinese e-commerce platform Meituan, which has more than 240 million customers and works with 5 million local merchants, has reportedly begun working cooperatively with several banks in China that are involved in the development of the digital yuan. Bilibilibili, which is China’s largest video sharing… Read More

Massive Fintech Ant Financial Planning Hong Kong IPO, Valuation Expected to Top $200 Billion

  Ant Financial, part of the mega-tech group Alibaba (NYSE:BABA), is planning an initial public offering (IPO) in Hong Kong that will value the firm at a massive $200+ billion valuation, according to a report. Earlier this year, the company changed its legal name in… Read More

Fintech Abu Dhabi Innovation and Startups Team to “Digitally Visit” 23 Countries to Select High-Potential Businesses for Fintech100 Program

The Fintech Abu Dhabi Innovation and startups team is reportedly planning to “digitally visit” 23 different countries throughout the world between July and November 2020, The Fintech group aims to meet and potentially work with the founders of high-potential early-stage financial technology companies. The best… Read More

Central Bank in the Philippines is Working on Digital Banking Guidelines including Minimal Capital Requirements

The BSP (Bangko Sentral ng Pilipinas), the central bank of the Philippines, is working on a new set of guidelines for digital banks that plan on establishing operations in the country. The BSP confirmed that foreign individuals or business entities will be able to own… Read More

Global Digital Banking Platform Market to Surpass $10 Billion by 2027: Report

The global digital banking platform industry reportedly managed to generate $3.95 billion in revenue last year. It’s expected to reach $10.87 billion by 2027, which means it’s projected to expand at a compounded annual growth rate (CAGR) of 13.6% from 2020 to 2027. This, according… Read More

China’s Fintech and Blockchain Sector are Supported by $616 Billion in R&D Resources: Report

The ongoing U.S.-China trade wars and the COVID-19 outbreak have negatively impacted China’s $11-$13 trillion economy, however, the nation’s technology sector continues to develop rapidly. The country’s tech industry is supported by $616 billion in research and development (R&D) resources. In addition to investing in… Read More

UAE Fintech Spotii, which Offers a “Shop Now, Pay Later” Service without Charging Interest, Secures Additional Capital from Daman Investments

United Arab Emirates (UAE) based “Shop Now, Pay Later” Fintech Spotii announced on July 5, 2020 that Daman Investments had invested in its operations. Daman Investments is a non-banking financial services company that’s known for its involvement in the MENA region business sector. Spotii is… Read More

South Korean Blockchain Project ICONLOOP Acquires $5 Million in Additional Investments, After Receiving Capital from $100 Million K-Growth Fintech Innovation Fund

South Korea’s ICONLOOP, a company that developed its own blockchain-powered engine, loopchain, which is used for various Internet services, has reportedly acquired KRW 6 billion (appr. $5 million) in additional investments.  The company has secured a total of KRW 16 billion (appr. $13.4 million) in… Read More

InstaReM Launches “BizPay” Solution for SMEs in Australia

InstaReM, a payments Fintech that is part of Nium, has launched BizPay in Australia. The service is designed to assist SMEs by converting credit cards into working capital. The announcement comes soon after the same product launched in Singapore in June. InstaReM believes that SMEs… Read More

MENA Region Financial Hubs, the UAE and Qatar, Report Significant Increase in Digital Banking Activities during COVID-19

Abu Dhabi Islamic Bank (ADIB), a leading UAE-based financial institution, reports that it has experienced significantly increased levels of digital banking adoption across its retail and corporate services during H1 2020. As noted in a release, almost 60% of ADIB’s retail clients have been using… Read More

There are Reportedly Over 230 Blockchain or DLT focused Organizations Operating in Singapore

Several Singapore-based organizations recently teamed up to create a map of what the city-state’s blockchain or distributed ledger technology (DLT) sector looks like, and how it has grown considerably this year when compared to 2019. Many major DLT initiatives in the country are supported in… Read More

Weidai, a Chinese Peer to Peer Lender Listed on the NYSE, Said to be Under Investigation by Police

China’s crackdown of the peer to peer lending industry appears to be ongoing with a report today that Weidai, (NYSE:WEI) a P2P platform that raised $45 million in an initial public offering (IPO) on the New York Stock Exchange, is said to be under investigation…. Read More

Adyen Announces Expansion of Acquiring Capabilities to Malaysia

Payments platform Adyen (AMS: ADYEN) announced on Monday it is expanding its acquiring capabilities to Malaysia. According to Adyen, the expansion helps businesses achieve higher authorization rates, better customer experience, and deeper data insights as the Malaysian market transitions to online payments. “Adyen acquiring complements… Read More

Indonesian Fintech PAYFAZZ Reportedly Secures $53 Million Through Series B Funding Round

PAYFAZZ, an Indonesia-based fintech startup, has reportedly secured $53 million through its Series B funding round, which was led by B Capital Group and Insignia Ventures Partners with participation from Tiger Global Management, Y Combinator, ACE & Company, BRI Ventures, and Quiet Capital. Founded in… Read More

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