Asia

September 26, 2021 @ 8:48 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, awarded the sixth virtual banking permit to Voyager Innovations via its Fintech division PayMaya Philippines. PayMaya had acquired $167 million in capital from Philippines-based telecom firms PLDT, international investment company KKR, Chinese technology company… Read More

September 26, 2021 @ 6:38 pm By Omar Faridi  |  

Velmie, a Fintech and banking software service provider, has launched an FX and cross-border transfers module that is connected to providers like Currencycloud, Rapyd, and Nium. Velmie’s white-label platform is currently capable of supporting international payments and funds transfers with customized integration. Global payments and… Read More

September 26, 2021 @ 6:00 pm By Omar Faridi  |  

Pakistan-based virtual banking platform Tag has acquired more than $12 million in capital as part one of the largest seed rounds in Southeast Asia. With the capital injection, Tag’s valuation now stands at $100 million, with the firm managing to finalize the fundraising deal within… Read More

September 26, 2021 @ 5:23 pm By Omar Faridi  |  

Rizal Commercial Banking Corporation’s (RCBC) financial inclusion app DiskarTech has managed to process gross transaction value of over P11.8 billion (appr. $230M) just a year after its launch (in July 2020). As mentioned in the announcement, this total transaction value includes money transfers performed via… Read More

September 26, 2021 @ 2:46 pm By Omar Faridi  |  

The Board of Mox Bank Limited has confirmed the appointment of Barbaros Uygun as the  Chief Executive Officer of Mox and Executive Director of the Board “with effect from 27 September 2021.” After establishing a solid foundation for Mox over the past 3 years, Deniz… Read More

September 26, 2021 @ 2:30 pm By JD Alois  |  

CBIRC is Studying and Developing ESG Investment Guidance for Insurance Funds It is reported that China Banking and Insurance Regulatory Commission (CBIRC) is accelerating research and development of ESG investment guidance for insurance funds. The guidance shall clarify relevant principles for product design, investment process,… Read More

September 24, 2021 @ 11:00 am By Omar Faridi  |  

Nervos, China’s leading public blockchain, has revealed that it will be integrating its testnet and mainnet with Covalent, an established provider of indexing solutions for blockchains, “expanding the availability of data on the network and simplifying the experience for developers building on Polyjuice, an Ethereum… Read More

September 24, 2021 @ 9:39 am By JD Alois  |  

  China has effectively banned crypto. While the news should not come as any surprise as China has been tightening the regulatory vice for years now, statements by the People’s Bank of China indicate that any hope of crypto access is now dashed for consumers… Read More

September 23, 2021 @ 10:27 pm By Omar Faridi  |  

InvestaX (IC SG Pte Ltd) has introduced an exchange in the Monetary Authority of Singapore (MAS) sandbox, offering key infrastructure for “bringing liquidity to digital securities.” As mentioned in a release, InvestaX is a Singapore-based, MAS-licensed online investment and trading platform for Digital Securities (DSO)… Read More

September 23, 2021 @ 10:02 pm By Omar Faridi  |  

The newly formed financing firm in Saudi Arabia, Positive Facilities Co. Ltd. (Ejabiah), has reportedly entered an agreement with Path Solutions for the introduction of its interest-free Core banking platform. Ejabiah will be providing a unique 0% interest financing product, which is somewhat similar to… Read More

September 23, 2021 @ 9:55 pm By Omar Faridi  |  

Indonesia-based payments Fintech Xendit has announced that it plans to relocate its financial hub to Malaysia. As reported by Fintech News Malaysia, the Fintech Unicorn confirmed these plans during a speech by Finance Minister, Tengku Datuk Seri Zafrul Tengku Abdul Aziz (which took place during… Read More

September 23, 2021 @ 9:49 pm By Omar Faridi  |  

UOB Malaysia has partnered with Prudential Assurance Malaysia Berhad (PAMB) in order to offer clients with a suite of insurance services via a new Virtual Face-to-Face (VF2F) feature on Pulse, which is the insurance provider’s comprehensive health and wellness app. The bank stated that it’s… Read More

September 23, 2021 @ 7:39 pm By Omar Faridi  |  

Karbon Card, a Fintech firm providing corporate cards, has secured $12 million (appr. INR 88.8 crore) in a Pre-Series A funding round from US-based Fintech Unicorn Ramp, Rainfall Ventures, Roka Works, Y Combinator, and other international investors. Ramp is a New York-headquartered spend/budget management app… Read More

September 22, 2021 @ 11:14 pm By JD Alois  |  

Incomlend, a global invoice financing marketplace and cross-border trade facilitator, has announced a new invoice financing program for a pan-European metal trading firm. Founded in Singapore and with offices around the world, Incomlend connects SMEs globally with communities of investors. This enables them to buy… Read More

September 22, 2021 @ 10:50 pm By JD Alois  |  

SoftBank Ventures Asia has led the $30 million Series A funding round in OY! Indonesia. MDI, Pavilion Capital, AC Venture, CCV, Wavemaker, PT SAT, Saison Capital Pte. Ltd., and Orion Advisors (DST Founders) also participated in the round that had a valuation of around $100… Read More

September 22, 2021 @ 10:05 pm By Omar Faridi  |  

Philippines’ digital wallet provider GCash has introduced an online shopping insurance option – underwritten by PGA Sompo – with Singapore-based Insurtech Igloo, in order to protect its growing online client base. As mentioned in a release shared with CI, this launch and partnership come at… Read More

September 21, 2021 @ 8:45 am By Omar Faridi  |  

bolttech, one of the fastest-growing global Insurtech unicorns, reveals that it has completed an extension of its $180 million series A round that was led by Activant Capital Group, bringing the series total to $210 million. As mentioned in a release, this is the largest… Read More

September 20, 2021 @ 10:30 pm By Omar Faridi  |  

Saudi Arabia-headquartered virtual payment and point-of-sale (POS) solutions provider CashIn has reportedly acquired SAR 6 million (appr. $1.6 million) in capital through a seed round. CashIn’s investment round has been led by investor Mine. Saudi venture capital firm BIM Ventures also took part in the… Read More

September 20, 2021 @ 9:55 pm By Omar Faridi  |  

China’s XTransfer, an established one-stop cross-border financial and risk management solution provider, has secured $138 million in capital via its Series D round. XTransfer‘s investment round was led by D1 Capital Partners, along with existing shareholders also making contributions. XTransfer will be using the funds… Read More

September 20, 2021 @ 9:45 pm By Omar Faridi  |  

With the rising “digital influence” on consumers throughout the world, online portals as a preferred channel for trade are undergoing significant growth. There’s also an increasing trend of India’s businesses “going global,” according to Indian Fintech Razorpay. The company shared data which reveals that merchandise… Read More