Asia

August 7, 2020 @ 11:26 am By Samantha Hurst  |  

OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant Ping An Group, announced earlier this week it has joined forces with Swiss Reinsurance Company Ltd. (Swiss Re) to co-develop a digital end-to-end solution for motor claims handling for the European market, based… Read More

August 7, 2020 @ 1:52 am By Omar Faridi  |  

UOB Indonesia has introduced TMRW, its virtual bank to serve the local market as part of its strategy to accelerate growth of its business operations in the region. The launch of the digital bank has come after UOB established its business in Thailand in 2019…. Read More

August 6, 2020 @ 11:51 pm By Omar Faridi  |  

Qatar has substantial capital that has been invested by local entities into the nation’s economy, which is more diversified than most other countries in the Middle East. However, foreign direct investment (FDI) may still serve a key role in developing the nation’s knowledge-based economy and… Read More

August 6, 2020 @ 11:06 am By Omar Faridi  |  

Clik, a Cambodia-based Fintech firm, has reportedly acquired $3.7 million in seed funding. The company has also hired new staff members. Clik’s management noted that the funds raised would be used to expand its business operations, including its product engineering and customer service teams, in… Read More

August 6, 2020 @ 8:15 am By Samantha Hurst  |  

GoBear, a Singapore-based finance services and data platform, announced on Thursday it has formed a partnership with Southeast Asian digital bank UnionBank to launch a lending as a service offering in the Philippines. The launch of the partnership comes just a few months after GoBear… Read More

August 5, 2020 @ 11:06 pm By Omar Faridi  |  

Approximately $1.47 billion was invested into businesses operating in the Fintech sector in India between January to June 2020, according to the latest MEDICI Report covering Indian financial technology markets. The amount invested into India’s Fintech industry during H1 2020 was 60% greater than the… Read More

August 5, 2020 @ 10:22 pm By Omar Faridi  |  

Southeastern Asian ride-hailing service, Grab, has extended its business into the financial services sector, by introducing a micro-investment platform, a third-party loan service, and also a “Buy Now, Pay Later” product for digital commerce sites. Introduced in August 2020, AutoInvest allows consumers based in Singapore… Read More

August 5, 2020 @ 4:08 pm By Samantha Hurst  |  

Indonesia-based fintech Ayoconnect announced on Wednesday it raised $5 million through its pre-Series B financing round, which included participation from BRI Ventures, Tokyo Exchange-listed internet company Kakaku.com, Inc., and Brama one Ventures. Existing investors that also participated in the round were Finch Capital and Amand… Read More

August 5, 2020 @ 11:19 am By Samantha Hurst  |  

TradingScreen Inc. (TS) subsidiary MARKTS, a digital asset order and execution management system (OEMS), announced on Wednesday it has teamed up with OSL, an Asian digital asset platform, to launch OSL Exchange and OSL intelligent Request for Quote (iRFQ) trading services on MARKTS. According to… Read More

August 4, 2020 @ 11:44 pm By JD Alois  |  

The Securities Commission Malaysia (SC) is seeking feedback on a regulatory framework for digital asset wallet providers. The review is expected to complement the existing frameworks for Digital Asset Exchange (DAX) and Initial Exchange Offering (IEO). The SC notes that digital asset wallet providers, now… Read More

August 4, 2020 @ 11:42 pm By JD Alois  |  

Bursa Malaysia Berhad, the stock exchange of Malaysia, has partnered with Hashstacs Pte Ltd, based in Singapore, regarding a bond on blockchain proof-of-concept (POC). The project has been labeled “Project Harbour” and it aims to explore distributed ledger technology and tokenization of assets while boosting… Read More

August 4, 2020 @ 10:25 pm By Omar Faridi  |  

UK based Fintech firm Wiserfunding is expanding its operations into markets in India. The company is introducing its AI enhanced, cloud-powered credit risk assessment tool for SMEs. Wiserfunding’s entry into Indian markets has come at a time when small businesses across the nation are struggling… Read More

August 4, 2020 @ 9:31 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS), along with the National University of Singapore (NAS) and National Research Foundation (NRF), have joined to create a new Fintech focused entity: the Asian Institute of Digital Finance (AIDF). AIDF is expected to provide thought leadership and strengthen synergies… Read More

August 4, 2020 @ 1:09 pm By Samantha Hurst  |  

Mastercard recently announced it has partnered with Bank of Shanghai to enable better cross-border business payments in China. Mastercard reported that with its cross-border services, businesses will be able to transfer funds to local banks in China. The service will also reduce transaction costs and… Read More

August 4, 2020 @ 9:23 am By Samantha Hurst  |  

    hey, a payments and e-commerce platform in Japan that helps businesses easily create bespoke online stores and process in-store cashless payments, announced on Tuesday it secured a Series E investment, which was led by Bain Capital Tech Opportunities with participation from PayPal Ventures, Goldman Sachs, YJ Capital, Anatole,… Read More

August 3, 2020 @ 11:35 pm By Omar Faridi  |  

India based RAMSUN Network, a digital or online marketplace for supply chain finance, has reportedly joined Fintech firm MonetaGo’s secure financing network. The RAMSUN Network aims to facilitate financing for SMBs via its AI-powered technology platform – which allows many lenders to be a part… Read More

August 3, 2020 @ 11:03 pm By Omar Faridi  |  

Wang Yongli, the former VP of China’s reserve bank, has argued that central bank digital currencies (CBDCs) can serve as a substitute for cash or paper money in circulation. Yongli, the director of the Haixia Blockchain Research Institute, noted that virtual currencies can effectively serve… Read More

August 3, 2020 @ 5:01 pm By JD Alois  |  

InstaReM, part of Nium, has partnered with SBM Bank India on outbound remittances from India. InstaReM says it will work closely with SBM Bank India as its licensed banking partner to facilitate international money transfers from India. As shared in a release, SBM Bank India… Read More

August 3, 2020 @ 8:51 am By JD Alois  |  

The Bank for International Settlements Innovation Hub (BISIH) Centre in Hong Kong and the Hong Kong Monetary Authority (HKMA) have partnered on a trade finance project to highlight the opportunity to improve the sector of finance with technology. The “TechChallenge — Digitising Trade Finance” is… Read More

August 3, 2020 @ 12:16 am By Omar Faridi  |  

WeLab Bank has confirmed the public launch of its digital banking services. WeLab Bank is notably the only stand-alone firm to acquire a virtual bank license from the Hong Kong Monetary Authority (HKMA), the city-state’s de facto central bank that’s also responsible for promoting the… Read More