Asia

March 9, 2021 @ 11:11 pm By Omar Faridi  |  

Indonesia’s digital wallet platform LinkAja has chosen Indian software firm PureSoftware’s Arttha digital payments suite which will be powering the wallet provider’s core systems. The move is said to be consistent with LinkAja’s goal to further expand and strengthen its market presence as a payment… Read More

March 9, 2021 @ 10:34 pm By Omar Faridi  |  

The Indian government may not completely ban (or attempt to) the use of decentralized cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). During a recent interview (conducted on March 5, 2021), India’s finance minister Nirmala Sitharaman clarified that she intends to support innovative crypto initiatives. #CNBCTV18IBLA… Read More

March 8, 2021 @ 11:58 pm By Omar Faridi  |  

United Arab Emirates’ first “independent” virtual banking platform has just launched with more than 25,000 applicants that had pre-registered during the past few months in order to use the bank’s Fintech app. UAE-headquartered digital bank YAP will be allowing locals to open a bank account… Read More

March 8, 2021 @ 10:59 pm By Omar Faridi  |  

Fintech industry experts from Qatar and Bangladesh recently talked about potential opportunities in the financial services sector during a webinar.  Bangladesh Forum Qatar (BFQ) had organized the webinar on “An Exploration of the Qatar – Bangladesh Startup and Fintech Opportunities” along with assistance from the… Read More

March 8, 2021 @ 10:55 pm By Omar Faridi  |  

Chinese authorities have increased their scrutiny of the nation’s Fintech sector. China’s regulators have now cracked down on JD Technology’s (potentially) $3 billion initial public offering. JD Technology, the Fintech division of Chinese digital commerce giant JD.com Inc., is reportedly looking into withdrawing its application… Read More

March 8, 2021 @ 10:22 pm By Omar Faridi  |  

WeLab, an established Asian Fintech firm, has finalized its Series C-1 $75 million funding round, which was led by Allianz X. Allianz X is the digital investment division of Germany’s Allianz Group, one of the world’s largest insurance service providers and fund managers. Since launching… Read More

March 7, 2021 @ 6:10 pm By Omar Faridi  |  

There are no extensive regulations yet on Open Banking in Thailand, however, the government’s digital transformation strategy (and the Thailand 4.0 strategy) along with the introduction of the Personal Data Protection Act (PDPA) in 2020 indicate that the country may soon offer an Open Banking… Read More

March 6, 2021 @ 7:10 pm By Omar Faridi  |  

China’s regulatory authorities have reportedly been telling local banking institutions to “trim” their loan books during 2021 to guard against potential risks resulting from bubbles in domestic capital markets. This, according to an update from Reuters which cited sources familiar with the matter (on March… Read More

March 6, 2021 @ 11:02 am By Xu Gao  |  

Chinese Fintech Companies Need to Meet Capital Adequacy Requirements with a Maximum of Two Years On March 2nd, Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission (CBIRC) said at a press conference of the Information Office of the State Council that Chinese… Read More

March 5, 2021 @ 11:12 pm By Omar Faridi  |  

  Singapore-based Symbo Platform Holdings, an Insurtech platform, has finalized a $9.4 million funding round that was led by the CreditEase Fintech Investment Fund. Symbo’s investment round included contributions from San Francisco’s investment company Think Investments along with investments from existing investors AJ Capital, Insignia… Read More

March 5, 2021 @ 10:10 pm By Omar Faridi  |  

GHL Systems Berhad’s Malaysia-based business operations have reportedly added the ShopeePay mobile wallet to their digital payments acceptance options. The new payments service has been added after a recent partnership with ShopeePay Malaysia Sdn Bhd. Through the partnership, GHL will enable its offline merchant base… Read More

March 5, 2021 @ 9:07 pm By Omar Faridi  |  

The Securities and Exchange Commission (SEC) in Thailand is reportedly backing off its initial draft plan that would have required a 1-million-baht (appr. $32,800) minimum annual income and various other requirements for local crypto investors. The Thai SEC clarified that the draft bill was meant… Read More

March 5, 2021 @ 8:15 pm By Omar Faridi  |  

Indonesia-based Fintech firm PAYFAZZ has revealed that it invested $30 million in Xfers, a Singapore-headquartered business. The investment was made to establish a new financial entity, known as the Fazz Financial Group (FFG). PAYFAZZ stated that the companies will be keeping their respective names while… Read More

March 5, 2021 @ 6:21 pm By Omar Faridi  |  

When discussing wealth management strategies and how Fintech solutions can help investors better manage their portfolios, analysts often talk about how to create new wealth. They may discuss goal setting, risk profile management, and investment management. Dr. Sekar Jaganathan, Director of Digital Strategy at Kenanga… Read More

March 4, 2021 @ 11:05 pm By Omar Faridi  |  

The Philippines’ Securities and Exchange Commission (SEC) has introduced its online payment system for firms so they can easily pay their registration fees. The new SEC Payment Portal is a web-based system that can accept payment for registrations, transaction fees, and penalties by simply using… Read More

March 4, 2021 @ 10:07 pm By Omar Faridi  |  

MyMy, which aims to become the world’s first Shariah-compliant digital bank, and digital loan platform Sukaniaga Sdn Bhd recently confirmed their partnership which focuses on establishing a virtual banking consortium. They’re also planning to apply for one of the five digital banking licenses that will… Read More

March 4, 2021 @ 9:27 am By Samantha Hurst  |  

    Pine Labs, an India-based merchant commerce platform, announced on Thursday it is expanding its services to Southeast Asia, thanks to key organizational changes. As previously reported, Pine Labs notably offers a merchant platform that includes technology and financial solutions for merchants to help… Read More

March 4, 2021 @ 8:38 am By Omar Faridi  |  

Arthur Hayes, the former CEO of digital currency derivatives exchange BitMEX, is reportedly holding discussions which would involve his surrender to US authorities as early as next month (April 2021). As reported in October of last year, Hayes and several other senior managers at the… Read More

March 3, 2021 @ 11:02 pm By Omar Faridi  |  

Iran’s Presidential Center for Strategic Studies, which is a thinktank that is attached with President Rouhani’s office, has released an extensive report which emphasizes the need for the so-called rogue State to use decentralized cryptocurrencies to generate additional revenue. Extracting these virtual currencies, the report… Read More

March 3, 2021 @ 10:30 pm By JD Alois  |  

R3 will expand its presence in Thailand, including new hires, after the renewal of its partnership with Bangkok Bank, according to a statement by the firm. Amit Ghosh, Head of APAC, R3, stated: “Thai enterprises are at the forefront of innovation, digital transformation and blockchain… Read More