Asia

April 26, 2020 @ 8:50 pm By Omar Faridi  |  

India-based Datacultr, a platform as a service provider that allows consumer lending firms to significantly reduce their risk on “new to credit”​ customers, confirmed that it will be enabling banks, non-banking financial companies (NBFCs), and other financial service providers to lend securely while reducing risk… Read More

April 26, 2020 @ 8:18 pm By Omar Faridi  |  

Ping An Insurance Group, China’s largest insurance and logistics conglomerate, has released its Q1 2020 financial results for the three months ending on March 31, 2020. Ping An’s management noted that they are coping with the Coronavirus (COVID-19) outbreak by adopting measures which include a… Read More

April 26, 2020 @ 5:05 pm By Omar Faridi  |  

An increasing number of consumers are now staying indoors and working from their homes, due to the deadly and highly contagious Coronavirus (COVID-19) outbreak. There’s reportedly been a steady growth in digital wealth and online banking solutions and services are increasingly being used, even by… Read More

April 26, 2020 @ 9:42 am By Xu Gao  |  

People’s Bank of China Held 2020 Anti-Money Laundering Work Virtual Conference On April 15th, the 2020 PBC Anti-Money Laundering Work Virtual Conference was held in Beijing. The conference fully recognized AML achievements made by the People’s Bank of China (PBC) in 2019, analyzing the current… Read More

April 25, 2020 @ 10:01 pm By Omar Faridi  |  

CPP Group Plc (CPP) has confirmed that its Indian-headquartered Business Process Management (BPM) firm Globiva will be extending its product offering to customers based outside of India. The company intends to offer services to clients in the US and the UK. CPP is based in… Read More

April 25, 2020 @ 8:00 pm By Omar Faridi  |  

Rajashekara Visweswara Maiya, vice president and head of business consulting, cloud and blockchain efforts at Finacle, the developer of a financial software system used by large banks across the globe (serving over 1 billion people), recently shared his views and insights with Crowdfund Insider. Finacle… Read More

April 25, 2020 @ 2:47 pm By Omar Faridi  |  

Singapore-based Axinian, an insurance technology (Insurtech) firm, has reportedly finalized its Series A+ investment round. To date, the company has secured $16 million in capital for its ongoing growth and development. Axinian’s funding round was led by InVent, the corporate venture capital division of Intouch… Read More

April 25, 2020 @ 9:31 am By Omar Faridi  |  

The Singapore Fintech Association (SFA) and Razer Fintech will reportedly be offering Financial technology firms in the city-state bridge financing, equity or equity-linked instruments, which will range from anywhere between $100,000 to $1.5 million (appr. S$143,000 to S$2.1 million) According to an April 23, 2020… Read More

April 24, 2020 @ 10:14 am By JD Alois  |  

While everyone expects the People’s Bank of China to launch a limited trial of its Central Bank Digital Currency (CBDC) or Digital Currency Electronic Payment (DCEP) as it is called in the country questions have frequently emerged as to how the government will utilize the… Read More

April 24, 2020 @ 12:54 am By JD Alois  |  

China has long been expected to become the first nation to launch a Central Bank Digital Currency (CBDC). Periodically, reports have popped up regarding the development of the digital currency and today we have another glimmer on the progress driven by the People’s Bank of… Read More

April 23, 2020 @ 8:47 pm By Omar Faridi  |  

Chennai-based YAP, an established API Fintech platform, has secured $4.5 million in capital through a Series A investment round, which was led by BEENEXT, a Singapore-based venture capital company. Other individuals and organizations that took part in YAP’s latest round include: 8i Ventures Fund, The… Read More

April 23, 2020 @ 10:49 am By JD Alois  |  

The Blockchain-based Service Network (BSN) in China aims to change the existing problem of the high cost of developing and deploying blockchain applications by providing public blockchain resource environments to developers. According to BSN, just like the internet, the ubiquity of access can greatly reduce… Read More

April 23, 2020 @ 1:30 am By Omar Faridi  |  

Over 70 Chinese financial services companies, including all state-managed banking institutions and the nation’s largest technology firms, are currently using some type of blockchain or distributed ledger technology (DLT)-enabled financial applications. This, according to the Industrial and Commercial Bank of China (ICBC), a multinational Chinese… Read More

April 21, 2020 @ 10:30 pm By Omar Faridi  |  

  The Japan Security Token Offering Association (JSTOA) recently published self-regulatory guidelines which cover how to separately manage client assets and digital record transfer rights and obligations. The guidelines may now be accessed through JSTOA’s official website. The security token management association said that the… Read More

April 21, 2020 @ 9:34 pm By Omar Faridi  |  

Transcorp International, an established foreign exchange (Forex) and payment services provider, has received approval from the Reserve Bank of India (RBI) to enter co-branding arrangements for performing prepaid transactions. The prepaid payment services will be available at thousands of Indian stores and digital commerce websites…. Read More

April 21, 2020 @ 10:12 am By JD Alois  |  

On April 19th, Mindao Yang, founder of dForce, confessed that $25 million crypto had been stolen from his platform. In a blog post, Yang said Lendf.Me, the lending protocol of dForce, was attacked and a vulnerability was exploited to steal the digital assets. Today, it… Read More

April 21, 2020 @ 8:38 am By JD Alois  |  

  SoFi, one of the largest Fintechs in the US, has entered the Asian market with the acquisition of 8 Securities in Hong Kong. The acquisition follows another purchase by SoFi earlier this month when the Fintech acquired Galileo Financial Technologies for $1.2 billion in… Read More

April 21, 2020 @ 2:37 am By Omar Faridi  |  

The Bank of China’s somewhat secretive digital currency pilot program has made many people quite curious. The bank recently provided an official explanation of how the virtual yuan or renminbi was being tested and how it might work if and when it is launched. A… Read More

April 21, 2020 @ 1:35 am By Omar Faridi  |  

Singapore-based remittance firm TranSwap is reportedly holding discussions to secure $5-10 million in capital. Benjamin Wong, co-founder and CEO at TranSwap, confirmed that the cross-border payments company is planning to close its investment round “quite soon”. As reported by e27, the Fintech firm has acquired… Read More

April 21, 2020 @ 12:32 am By Omar Faridi  |  

Economic activity in Indonesia has slowed down significantly following the deadly Coronavirus (COVID-19) outbreak. According to local reports, some businesses in the trillion-dollar economy have shut down completely. Peer to peer (P2P) lending platforms are also experiencing major challenges, which include having to deal with… Read More