HyperPay, the Saudi payments services provider (PSP) operating in the MENA region, reportedly obtained a license from the Saudi Central Bank (SAMA) in order to support the diversification and development of the financial services ecosystem in KSA. In line or consistent with its strategy to… Read More
WeLab Bank announced its achievement of first-time breakeven in Dec of 2024 – which is just over 4 years after its establishment. This milestone exemplifies WeLab Bankās ability to achieve profitability “at a pace faster than anticipated.” As mentioned in the announcement, the accomplishment was… Read More
The combined market cap of the top 50 companies in the Asia-Pacific (APAC) region surged to $8.1 trillion in 2024, reflecting a “20.6% year-on-year increase.” This, according to a report from GlobalData. Tech firms reportedly led the charge, with the Taiwan Semiconductor Manufacturing Company and… Read More
Telr, the online payment gateway in the MENA, serving over 30,000 merchants across the region, announced a partnership with Apaya, the commerce automation platform. This partnership combines Telr’s comprehensive payment solutions in the UAE, KSA, Bahrain and Jordan, with Apaya’s no-code commerce automation platform, “enabling… Read More
HashKey Group, an end-to-end digital asset financial services group in Asia, announced that HashKey MENA FZE, a member of the HashKey Group, has received an In-Principle Approval (IPA) from the Dubai Virtual Assets Regulatory Authority (VARA) for its Virtual Asset Service Provider (VASP) license application…. Read More
The IMF has shared an update / analysis on how artificial intelligence will affect Asiaās economies. According to the blog post from the IMF, AI may widen inequality, but policymakers can “counteract this with more effective social safety nets, reskilling programs, and regulations to promote… Read More
The Hong Kong Monetary Authority (HKMA) launched the Supervisory Incubator for Distributed Ledger Technology to help banks responsibly unlock the transformative potential of distributed ledger technology (DLT). The Incubator is a supervisory arrangement designed to help banks maximize the “potential benefits” of DLT adoption by… Read More
SC Lowy has reportedly decided to accelerate its pivot towards private credit, an area “rich” with various opportunities in Asia and the Middle East, that will pave the way for the “gradual” wind down of its open-ended liquid Primary Investments Fund (PI). Initially launched as… Read More
The digital lending market in the Philippines, which includes registered non-bank digital lenders and digital banks, is projected to surpass $1 billion by the second half of 2025, according to a new analysis by Digido. The growth reflects strong consumer demand for online financial services… Read More
Following its 2024 Article IV Consultation with the Hong Kong Special Administrative Region (HKSAR), the International Monetary Fund (IMF) has recognized Hong Kong’s strong standing as an international financial center and endorsed its pathway towards fiscal consolidation. This affirmation came via a concluding statement released… Read More
Dubai-based Tectum has issued a statement claiming to be the “world’s fastest blockchain.” According to the company the ledger technology has a “theoretical peak” of 3.5 million transactions per second (TPS). Of course, this is not something that is immediately verifiable. Alexander Guseff, Founder and… Read More
Accenture (NYSE: ACN) has acquired a digital twin technology platform for banks developed by Percipient, a Singapore-based fintech with experience in banking tech transformation. The acquisition enhances Accentureās banking modernization capabilities, helping financial services clients in Asia Pacific “accelerate the reinvention of their core systems,… Read More
OCBC (SGX: O39) says that it has become the first bank in Singapore to launch the sale of tokenized bonds to corporate accredited investors (corporate AIs), which are corporations that have net assets exceeding SGD 10 million. The tokenized bonds, which reference investment grade bonds,… Read More
Maybank announced that it launched a counter-fraud security feature on the MAE App called Money Lock, which allows customers to lock funds in the savings or current accounts of their choice from “being digitally accessed, keeping the funds safe from online scammers.” With this added… Read More
Malaysia-based private equity firm Creador has acquired a controlling stake in Indonesia-based B2B hospitality marketplace MG Group from Indonesia Northstar and other shareholders, marking its entry into the global travel industry. The acquisition highlights Creadorās focus on Southeast Asiaās rapidly recovering travel sector, driven by… Read More
BRISKPE, a PayU-backed cross-border payment platform, has introduced a solution designed to meet the needs of MSMEs. This platform integrates account-to-account (A2A) transfers, card collections powered by PayU and PayPal, providing exporters, service providers, marketplace sellers and freelancers with “efficiency in managing international transactions.” By… Read More
Hong Kong Exchanges and Clearing Limited (HKEX) claims that it had a solid 2024, marked by new leadership, greater connectivity and engagement with international markets, the launch of multi-year infrastructure enhancement programs, and fresh trading records that “underscore the marketās vibrancy and resilience.” HKEX introduced… Read More
Mashreq Pakistan, a subsidiary of the UAEās Mashreq Bank, has secured a restricted license from the State Bank of Pakistan (SBP) to commence pilot operations as a digital retail bank in the country. The approval marks a significant milestone in Mashreqās expansion and highlights its… Read More
Doha Bank in Qatar has officially introduced Visa Commercial Pay. Doha Bank, which claims to be one of the largest private commercial banks in Qatar is reportedly set to become the first banking platform in the market toĀ launch Visa Commercial Pay (VCP) and the… Read More
Crypto.com has announced the signing of a Memorandum of Understanding (MoU) with Dubai Islamic Bank (DIB), the UAEās Islamic Bank and a key player focused on the field of Islamic finance, as it expands its market presence in the UAE as well as the wider… Read More
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