Asia

March 15, 2022 @ 11:07 pm By Omar Faridi  |  

Eizper Chain, the blockchain action-based multiplayer ARPG, has reportedly acquired $2 million in capital via a seed round and private NFT sale. Overall demand for exposure to this blockchain project – the first game in the Eizper gaming franchise – is “accelerating,” according to a… Read More

March 15, 2022 @ 6:14 pm By Omar Faridi  |  

SCB 10X, a holding company under the Siam Commercial Bank (SCB) Group (BKK: SCB), recently revealed that it would be tapping into the Metaverse. As mentioned in the update, SCB 10X will be introducing its first headquarters in The Sandbox. SCB 10X has also reportedly… Read More

March 15, 2022 @ 5:00 am By JD Alois  |  

Bitstamp is reporting that it has implemented Notabene’s solution for regulatory compliance under FATF’s global Travel Rule regulations across the US, EU, and Singapore. Notabene is a Regtech Software-as-a-Service solution provider that is headquartered in New York with offices around the world. The Financial Action… Read More

March 14, 2022 @ 11:17 pm By Omar Faridi  |  

Malaysia Debt Ventures (MDV), a subsidiary of the Minister of Finance (MOF) and dedicated tech financier, is reportedly establishing a pilot fund valued at RM500,000 to be invested through Funding Societies, a Southeast Asia-based SME digital financing platform. This move intends to reach underserved companies,… Read More

March 14, 2022 @ 10:26 pm By Omar Faridi  |  

MUFG Bank (NYSE:MUFG) recently revealed that it intends to invest as much as $300 million in middle- to late-stage Indian startups via the newly established MUFG Ganesha Fund. In the foreseeable future, MUFG stated that it would plan to strategically leverage its group strengths in… Read More

March 14, 2022 @ 6:25 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) has reportedly instructed Paytm Payments Bank to stop onboarding new clients and to also hire an IT audit company while citing “supervisory concerns.” In an official statement, the RBI stated that Paytm Payments Bank should stop taking on new… Read More

March 12, 2022 @ 11:16 am By JD Alois  |  

Zhejiang University International Business School (ZIBS) has concluded the Fintech and Regulatory Innovation (FTRI) Program for its inaugural China cohort, according to a statement from the organizers. The school reports that this cohort was comprised of 34 executives and senior managers from Mastercard, Invesco Asia-Pacific,… Read More

March 11, 2022 @ 8:01 pm By JD Alois  |  

Cake DeFi, a Singapore-based compliant Fintech that aims to make DeFi accessible, is reporting a USD $100 million venture capital subsidiary to invest in startups in various sectors of blockchain tech like Web3, gaming, Fintech, Meta, etc. Cake DeFi Ventures (CDV) states that it will… Read More

March 10, 2022 @ 10:44 pm By Omar Faridi  |  

Zai, an international Fintech firm offering embedded finance orchestration, has confirmed the appointment of Sanjeev Kumar as the new Global Chief Product Officer. Based in Zai’s Singapore business offices, Sanjeev will responsible for supporting Zai’s product strategy internationally, including market expansion, research and design. He… Read More

March 10, 2022 @ 9:02 pm By Omar Faridi  |  

The Fintech ecosystem in Bahrain has matured “on many fronts,” according to a new report. As noted in the update, new developments from government, corporate, and investment stakeholders have “created a more conducive environment for local and international startups to grow and scale from the… Read More

March 10, 2022 @ 2:43 pm By Tony Zerucha  |  

Paxos, a blockchain infrastructure platform, announced it has received in-principle approval from the Monetary Authority of Singapore (MAS) to operate digital payments token services under the Payment Services Act 2019. With this license, Paxos becomes one of the first blockchain services providers to meet the highest standard… Read More

March 9, 2022 @ 10:30 pm By Omar Faridi  |  

Bharti Airtel, India’s communications solutions provider, and Axis Bank, India’s third-largest private sector bank, announced a partnership “to strengthen the growth of India’s digital ecosystem through a range of financial solutions.” In a bid to accelerate adoption of digital payments in India, over the coming… Read More

March 8, 2022 @ 8:05 pm By Omar Faridi  |  

Bit.com, the “high-performance” digital currency exchange, will be partnering with TON (The Open Network) to form a “strategic” partnership to “develop, enhance and expand the TON Ecosystem.” The platform will be “utilizing its trusted security partner, Cactus Custody, to support TON’s native token custody by… Read More

March 7, 2022 @ 11:58 pm By Omar Faridi  |  

Jurisdictions under increased monitoring are “actively working” with the Financial Action Task Force (FATF) to address “strategic deficiencies” in their regimes in order to counter money laundering, terrorist financing, and proliferation financing. When the FATF places a jurisdiction under increased monitoring, it “means the country… Read More

March 7, 2022 @ 10:38 pm By Omar Faridi  |  

Indian Fintech firm CredAvenue has achieved Unicorn status (valued at $1 billion+) after raising funds from Insight Partners, B Capital, Dragoneer Investment Group, and others. The Chennai-headquartered Fintech is now valued at $1.3 billion. The Fintech company plans to use the proceeds to further expand… Read More

March 7, 2022 @ 10:08 pm By Omar Faridi  |  

India’s Venture Debt Report 2022, released by Stride Ventures, reveals that the year 2021 saw 111 firms acquiring funds via debt, of which 91 companies were categorized as unique. Bengaluru reportedly saw the highest number of venture debt deals, making up 40% of all such… Read More

March 7, 2022 @ 10:03 pm By Omar Faridi  |  

Sequoia Capital India and Saudi Arabia based VC company STV have reportedly led a $54 million round for Tabby, which claims to be one of the largest Buy Now, Pay Later (BNPL) providers in the Middle East. As the overall demand for Fintech services continues… Read More

March 7, 2022 @ 9:17 pm By Omar Faridi  |  

Singapore-based virtual bank IN Financial Technology (INFT) has now acquired MyCash Money, which is a money transfer company that is mainly focused on migrant workers (for an undisclosed amount). INFT is an end-to-end, employer-to-employee Fintech platform that supports MSMEs operating in Asian markets in order… Read More

March 7, 2022 @ 6:59 pm By Omar Faridi  |  

Luna Foundation Guard, which secured $1 billion to establish a Bitcoin reserve for the UST stablecoin, has confirmed that the funding would be channeled towards creating a new reserve that may serve as a release valve for UST redemptions at the time of selloffs in… Read More

March 7, 2022 @ 4:02 pm By JD Alois  |  

The UK Financial Conduct Authority (FCA) has issued a statement pertaining to EQONEX Limited and the Binance Group stating that Bifinity will advance a USD $36 million in a convertible loan to EQONEX. EQONEX is a firm based in Singapore that is listed on the NASDAQ… Read More