Asia

November 26, 2021 @ 2:00 pm By Tony Zerucha  |  

While the DBS Bank motto is “Live more, bank less,” some customers found they could not bank at all after some services were disrupted for days earlier this week. The problem was discovered Tuesday morning when customers began having issues with account logins. Initial communications… Read More

November 26, 2021 @ 11:11 am By Omar Faridi  |  

The National Bank of Kuwait has introduced Weyay, which is reportedly the Middle Eastern country’s first completely digital bank (will focus on serving younger clients). At present, the Fintech and virtual banking app is in beta testing and has been introduced at the pre-registration stage…. Read More

November 25, 2021 @ 1:05 pm By Tony Zerucha  |  

Several Indian business leaders spoke out against what they believe is their government’s overly cautious approach to cryptocurrency regulation. They made the comments during the Mumbai Micro Experience of Fintech Festival India 2021-22. Mrutyunjay Mahapatra, a member of the Governing Council of RBI (Reserve Bank… Read More

November 25, 2021 @ 8:59 am By JD Alois  |  

Thunes, a payments Fintech that operates globally, has hired multiple executives as part of a move to boost international expansion. While based in Singapore, Thunes has offices around the world. According to a company release, Thunes has hired four executives to guide the firm in… Read More

November 24, 2021 @ 11:04 pm By Omar Faridi  |  

Saigon Commercial Bank (SCB) has announced that it has selected BPC as its solution partner in Vietnam, which should accelerate digital transformation in the nation’s fast-growing banking sector. Using BPC’s SmartVista Platform for switching and Card Management system, SCB can offer hyper-personalized services for clients… Read More

November 24, 2021 @ 9:21 pm By Tony Zerucha  |  

Sparrow, a Singapore-based digital assets trading platform, now accepts PayNow transfers for institutional customers, the platform announced today. The PayNow transfer service allows Singaporeans to receive money into their bank account through their National Registration Identity Card (NRIC), which is similar to a Social Security… Read More

November 23, 2021 @ 10:49 pm By JD Alois  |  

Payguru has introduced a new use case for Direct Carrier Billing (DCB) in partnership with Iyzico, a provider of virtual Point of Sale solutions (POS) in Turkey.Payguru is a TPAY MOBILE company – a firm that provides payments across the Middle East, Africa and Turkey…. Read More

November 23, 2021 @ 9:43 pm By Omar Faridi  |  

Klook, a travel and leisure booking platform and ZA Tech Global Limited, the technology venture established by ZA International and backed by Softbank’s Vision Fund 1, has  announced a joint venture that will aim to accelerate “the availability and accessibility of travel-related insurance to consumers… Read More

November 23, 2021 @ 9:15 pm By JD Alois  |  

Funding Societies, an Asian digital finance platform supporting SMEs, has published a regional study to mark 5 years of online lending. Funding Societies originates microloans from USD $500 up to US$1.5 million, which can be disbursed in as fast as 24 hours. The report notes… Read More

November 22, 2021 @ 11:37 pm By Omar Faridi  |  

The Mobile Banking Benchmark 2021 survey reveals that Hong Kong-based digital banks Mox and Livi stood out as the leading local platforms, though there’s overall a gap between Asian and European service providers. The survey has been carried out by management consulting company Sia Partners… Read More

November 22, 2021 @ 9:44 pm By JD Alois  |  

Hong Kong Licensed investment crowdfunding platform AngelHub has shared an update on platform operations. AngelHub is licensed and regulated by the Securities and Futures Commission for Type 1 (Dealing in Securities) and Type 4 (Advising on Securities) activities in Hong Kong. AngelHub was the first… Read More

November 22, 2021 @ 9:07 pm By Omar Faridi  |  

Rizal Commercial Banking Corporation (RCBC), which was formed in 1960 as a development bank and is licensed by the Bangko Sentral ng Pilipinas (nation’s central bank) for commercial and investment banking, reveals that its financial inclusion app DiskarTech has reached a five-digit organic growth in… Read More

November 22, 2021 @ 8:31 pm By Omar Faridi  |  

GCC-headquartered early-stage VC company VentureSouq has introduced a $50 million MENA region Fintech Fund I. As mentioned in the announcement, the MENA Fintech Fund I is the first sector-wide Fintech-focused fund to be introduced across the Middle East area and Pakistan. The new Fund is… Read More

November 22, 2021 @ 8:17 pm By Omar Faridi  |  

Singapore-headquartered Pace, a Buy-Now-Pay-Later (BNPL) service provider, has acquired $40 million in capital as part of its Series A round. Investors that participated in Pace’s investment round include UOB Venture Management (Singapore), Marubeni Ventures (Japan), Atinum Partners (South Korea), AppWorks (Taiwan), and several family offices… Read More

November 22, 2021 @ 7:30 pm By Omar Faridi  |  

MCIS Insurance (MCIS Life) has reportedly acquired a 4.99% stake in Merchantrade Asia, which is a Malaysian money services solution provider (for an undisclosed amount). The acquisition is expected to support MCIS Life’s digital transformation efforts while leveraging Merchantrade’s all-digital capabilities, access to a vast… Read More

November 22, 2021 @ 12:13 pm By Omar Faridi  |  

Canaan (NASDAQ:CAN), a provider of supercomputing solutions, has confirmed the successful delivery of more than 2,000 Avalon Miner units in Kazakhstan, “marking the commencement of joint mining operations by Canaan’s overseas-registered operating entity,” according to an update shared with CI. As mentioned in the announcement, more… Read More

November 22, 2021 @ 10:03 am By JD Alois  |  

ADDX (formerly doing business as iSTOX) has tokenized a credit fund by Temasek-owned SeaTown. According to the company the deal reduces the fund’s minimum investment size from US$5 million to US$20,000, enabling fractional access to a private credit fund with more than USD $1 billion… Read More

November 22, 2021 @ 1:00 am By JD Alois  |  

Online investment platform OurCrowd has become the first venture capital firm to be approved by Abu Dhabi Global Market (ADGM) to operate as a find manager in the United Arab Emirates (UAE). OurCrowd said in a statement that it hs incorporated a wholly-owned subsidiary, OurCrowd… Read More

November 21, 2021 @ 9:32 pm By Omar Faridi  |  

Southeast Asia-based online financing platform Funding Societies announced earlier this week that it teamed up with MUFG Bank Malaysia, which operates as a subsidiary of Mitsubishi UFJ Financial Group, in order to introduce a Referral Scheme Program exclusively for the banking institution’s corporate customers in… Read More

November 21, 2021 @ 4:24 pm By Omar Faridi  |  

The team at Blockstream notes in a report that Bitcoin is on track for its worst weekly drop in over 6 months. Blocktream writes in a blog post that declines this past week looked to be driven by “continued deleveraging and perhaps also exacerbated by… Read More