Asia

November 30, 2019 @ 4:03 pm By Cali Haan  |  

Following reports of multiple “rectification” incidents executed against cryptocurrency businesses in China last week, including alleged raids on a Binance office in Beijing, the People’s Bank of China (PBOC) announced November 25th that it has closed two-thirds of the country’s online lending institutions and 173… Read More

November 30, 2019 @ 8:49 am By Omar Faridi  |  

Insurtech firm Acko General Insurance Ltd has recently raised $36 million via an investment round led by Ascent Capital. This, according to Acko’s filings with the registrar of companies (RoC). The Mumbai-headquartered insurtech company acquired allotments of “10 equity shares of ₹10 (appr. $0.14) each… Read More

November 29, 2019 @ 11:08 pm By Cali Haan  |  

An Ethereum programmer who allegedly traveled to North Korea to deliver a presentation and technical advice on using cryptocurrencies to evade sanctions was arrested on Thursday at the Los Angeles airport. Ethereum is the second-largest cryptocurrency network after Bitcoin. Like Bitcoin, Ethereum is maintained and… Read More

November 29, 2019 @ 6:00 pm By Omar Faridi  |  

Zilliqa, a blockchain-based platform that aims to deliver high-throughput and high-security, has teamed up with Elliptic, a provider of digital asset risk management software for crypto firms and financial institutions. According to a press release shared with Crowdfund Insider, the partnership between Zilliqa and Elliptic… Read More

November 29, 2019 @ 2:00 pm By Cali Haan  |  

China is cracking down on its “massive” cryptocurrency sector, Japan Times reports, and this time it seems pretty real. Bitcoin was officially banned in China in late 2016 when, according to Morgan Stanley, Chinese yuan was being used in more than 95% of Bitcoin trades…. Read More

November 29, 2019 @ 8:18 am By JD Alois  |  

An opaque cryptocurrency exchange IDAX Global has reported that its CEO has disappeared. The news comes at a time when the exchange was experiencing “channel congestion” for withdrawals.” Several days ago, IDAX Global posted the following note: Dear IDAX users: Recently, the demand for IDAX… Read More

November 28, 2019 @ 8:47 am By Omar Faridi  |  

Peer to peer lending firm Amartha has finalized a Series B investment round led by LINE Ventures, the venture capital division of giant messaging app LINE. The funds raised will be used to further expand Amartha’s operations to include more women and underprivileged families based… Read More

November 27, 2019 @ 7:00 am By Omar Faridi  |  

Securitize, a globally accessible solution for developing compliant, blockchain-based digital securities, has reportedly completed another strategic fundraise in order to further develop its technology platform to “modernize the legacy securities industry.” The latest investment comes from SBI Investment, a subsidiary of Tokyo-listed SBI Holdings, Inc.,… Read More

November 26, 2019 @ 10:17 pm By Cali Haan  |  

Scams involving new financial technologies comprise a 110 billion yuan ($16 billion USD) industry in China, according to the publishers of three blue books covering the current state of Fintech, Regtech and blockchain in China. While producing some conveniences, new financial technologies like cryptocurrencies are… Read More

November 26, 2019 @ 12:10 pm By JD Alois  |  

Buyaladdin Inc. has joined the “Affiliate Program” of Overstock (NASDAQ:OSTK). Buyaladdin will now have access to Overstock’s assortment of new home goods products. Buyaladdin plans to launch this initiative in the first quarter of 2020. According to a release, tZERO – a blockchain subsidiary of… Read More

November 26, 2019 @ 2:00 am By JD Alois  |  

Osome, a Singapore-based service for entrepreneurs, has raised $3 million in funding led by Target Global, with participation from Phystech Venture and AdFirst, according to a company release. Last year, Osomo raised a $2 million – once again led by Target Global. Osome claims to… Read More

November 26, 2019 @ 1:00 am By Cali Haan  |  

In mid-November, the People’s Bank of China (PBOC) and the Shanghai Municipal Financial Regulatory Bureau ordered securities regulators in Shanghai to identify and inspect cryptocurrency exchanges, token issuers, and distributors of foreign ICO’s in the city so they could be shut down. Now, the Shenzhen… Read More

November 26, 2019 @ 12:36 am By Omar Faridi  |  

Bank ABC revealed on November 24 that it has introduced “ila” Bank, as the institution prepares to enter the digital, mobile-only banking sector, beginning with the Middle Eastern country of Bahrain. The initiative’s roadmap involves promoting the new platform across the Middle East and North… Read More

November 25, 2019 @ 1:35 pm By JD Alois  |  

India’s largest mobile payments company Paytm has confirmed a $1 billion funding round at a valuation of $16 billion. Last month, Crowdfund Insider cited a report that indicated Paytm was planning a $2 billion funding round with a valuation of $15 billion. According to a… Read More

November 25, 2019 @ 11:16 am By JD Alois  |  

Crypto centric digital news site The Block is making some news about itself. Last week, the Block reported on an alleged shutdown of a Binance office located in Shanghai. As most crypto followers know, cryptocurrency trading is illegal in China – even while the Chinese… Read More

November 24, 2019 @ 12:39 pm By Omar Faridi  |  

OKEx, one of the world’s largest futures digital currency exchanges, revealed an update on November 22 regarding its four main business partners for OKB, the trading platform’s globally accessible utility token, which is aimed at “connecting digital asset projects.” According to a press release shared… Read More

November 24, 2019 @ 8:34 am By Omar Faridi  |  

Authorities in China continue to crack down on crypto-related businesses. Recently, the nation’s police officials closed down local digital asset exchange BISS and took 10 people into custody, as they were suspected of being involved in the trading platform’s business operations. On November 22, 2019,… Read More

November 23, 2019 @ 5:37 pm By Xu Gao  |  

The People’s Bank of China Releases China’s Green Finance Development Report (2018) In order to introduce China’s achievements and experience in green finance, the People’s Bank of China (PBC) has worked with relevant authorities and organizations to compile the annual China’s Green Finance Development Report… Read More

November 23, 2019 @ 5:24 pm By Omar Faridi  |  

Ten leading Fintech companies recently took to the final stage at the FintechHK Global Competition. FintechHK Global Competition is supported by InvestHK, the department of the Hong Kong SAR government that handles Foreign Direct Investment. InvestHK supports overseas, mainland China and Taiwanese businesses by helping… Read More

November 23, 2019 @ 5:15 pm By Omar Faridi  |  

NEM Ventures, the venture capital and investment division of the NEM blockchain ecosystem, one of the world’s largest cryptocurrency platforms with a market cap of more than $300 million (at time of writing), has reportedly made an investment in Cyclebit, a provider of “simple, affordable… Read More