Asia

December 17, 2020 @ 11:11 pm By Omar Faridi  |  

The Securities and Exchange Board of India (SEBI), the regulator of the nation’s securities and commodities market, announced on Wednesday (December 16, 2020) that it has updated guidelines related to establishing asset management companies (AMCs) for Fintech firms and other startups. SEBI confirmed that it… Read More

December 17, 2020 @ 11:09 pm By Omar Faridi  |  

The team at Singapore-based Propine, a regulated digital asset custodian, notes that 3 months ago, the company was selected by blockchain platform Zilliqa as one of 8 startups to take part in the ZILHive Accelerator program. The Propine team has now confirmed that they managed… Read More

December 17, 2020 @ 10:10 pm By Omar Faridi  |  

Fairbanc, the Silicon Valley-based Fintech firm that provides credit to the unbanked or financially underserved in Southeast Asia, has received financial backing from Columbia Business School’s student-run impact fund, Microlumbia. According to a release, this financial backing has come shortly after an investment from 500… Read More

December 17, 2020 @ 12:27 am By Omar Faridi  |  

Fintech is expected to play an important role in Saudi Arabia’s efforts to further diversify its economy, according to commentary from the nation’s Budget 2021 report. Padmini Gupta from Fintech Rise notes in an update published by Arab News that sustained support this year from… Read More

December 16, 2020 @ 11:24 pm By Omar Faridi  |  

The Fintech industry could leverage its tools and capabilities to gather climate-related data in the Philippines, which would be in line with the nation’s goal of supporting sustainable financing, according to FintechAlliance.ph Chairperson Angelito M. Villanueva. In statements shared with local news outlet, the BusinessMirror,… Read More

December 15, 2020 @ 10:56 pm By Omar Faridi  |  

Fraxtor Private Limited, a company that operates an online real estate co-investment platform, has reportedly acquired over S$9 million (appr. $6.74 million) on its platform from its community of Accredited Investors (AIs), despite the challenges created by the COVID-19 pandemic. According to a release, the… Read More

December 15, 2020 @ 9:37 pm By Omar Faridi  |  

Philippines based Fintech firm SquidPay Technology Inc. has acquired Php 100 million (appr. $2.08 million) in funding through a Series A round and Php 100 Million (appr. $1.04 million) line of credit – which was arranged by the Eastern Securities Development Corporation (for the company’s… Read More

December 15, 2020 @ 9:15 pm By JD Alois  |  

Funding Societies has received an investment from Samsung Venture Investment Corporation, according to a note from the Fintech.  Details on the investment were not disclosed. Samsung Venture is an investment arm of the South Korean conglomerate, Samsung Group, and has been an active investor in… Read More

December 14, 2020 @ 10:49 pm By Omar Faridi  |  

The US-Qatar Business Council (USQBC), the Silicon Valley Forum and the Embassy of the State of Qatar in Washington DC recently held a discussion during a virtual event on December 8, 2020, titled “Qatar in Focus: Smarter Countries & Thriving Communities in the Digital Age.”… Read More

December 14, 2020 @ 9:23 pm By Omar Faridi  |  

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

December 14, 2020 @ 7:42 pm By Omar Faridi  |  

Peer to peer (P2P) Bitcoin exchange Paxful has confirmed that ID verification will soon become mandatory for many different countries beginning this month (December 2020). Paxful claims it’s one of the few crypto-asset marketplaces that strictly enforce KYC (Know Your Customer) verification checks and procedures…. Read More

December 14, 2020 @ 10:09 am By JD Alois  |  

In a speech this week delivered at the China Fintech Global Summit in Shenzen, Liu Yingbin, Senior Assistant President, Hong Kong Monetary Authority (HKMA) said that Hong Kong can help mainland Chinese Fintechs go global. Yingbin touted Hong Kong’s Fintech ecosystem which has emerged as… Read More

December 13, 2020 @ 11:55 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the Magyar Nemzeti Bank (MNB) have entered into a co-operation Agreement (CA) in order to collaborate on various Fintech initiatives that will enhance Singapore and Hungary’s economy. The CA aims to establish a framework for Fintech collaboration between… Read More

December 13, 2020 @ 10:38 pm By Omar Faridi  |  

Malaysia-based CapBay, a peer to peer (P2P) supply chain financing platform, has reportedly arranged RM 100 million (appr. $24.68 million) in funding across 500 investment notes via its platform since it began operations in March of this year. This milestone is part of CapBay Group’s… Read More

December 13, 2020 @ 9:30 pm By Omar Faridi  |  

Amsterdam-based Backbase, a Fintech software provider that “empowers” financial institutions to accelerate their digital transformation strategies in order to compete in a digital-first world, has been chosen by DigiBankASIA to provide its “full-stack” online engagement banking platform solution for its virtual bank UNO. Backbase will… Read More

December 13, 2020 @ 6:55 pm By Omar Faridi  |  

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More

December 13, 2020 @ 6:46 pm By Omar Faridi  |  

Simon Torrance, Advisor to Boards and Leadership teams on business model transformation, platform strategy, and digital ventures, claims that embedded insurance is a $3 trillion market opportunity, which may help “close the protection gap.” Torrance, a Senior Advisor at Rainmaking, explains that embedded insurance is… Read More

December 12, 2020 @ 6:57 pm By Omar Faridi  |  

Smallcase, a Fintech firm that allows people to invest in a basket of stocks, has acquired an undisclosed amount of capital (as part of its Series B investment round) from HDFC Bank, an Indian banking and financial services company based in Mumbai. HDFC Bank (NSE:… Read More

December 12, 2020 @ 12:27 pm By Xu Gao  |  

GaiaWorks Raises ¥500 Million in Series D1 Funding Led by GGV Capital On December 8th, GaiaWorks, a Chinese leading provider of workforce management cloud services, announced that it had closed ¥500 million in Series D1 funding. The investment was led by GGV Capital, with participation… Read More

December 11, 2020 @ 9:12 pm By Omar Faridi  |  

The Injective Protocol token will be listed on Tokocrypto, an Indonesia based digital assets exchange. Tokocrypto’s management noted that they intend to officially list INJ tokens beginning on December 11, 2020 (at 4:00 AM UTC). This should help with opening up “the best avenue for… Read More