Asia

June 29, 2019 @ 8:59 am By JD Alois  |  

The V20 Summit, a crypto focused event taking place alongside the G20 in Japan, has announced a Memorandum of Understanding (MOU) signed by a “group of key national trade associations” to create a single association to provide a unified, global voice representing “Virtual Asset Service… Read More

June 29, 2019 @ 8:31 am By Xu Gao  |  

PBC, CBIRC Unveil White Paper on Financial Services for Smaller Businesses To comprehensively sum up the new policies, new practices and new achievements on financial services for SMBs in 2018, and to better respond to social concerns, the PBC, in cooperation with the CBIRC and… Read More

June 29, 2019 @ 8:10 am By Cali Haan  |  

On Thursday, a hacker “exploited a vulnerability in (the Bitrue exchange’s) Risk Control team’s 2nd review process to access the personal funds of about 90 Bitrue users,” according to a tweet thread from Singaporean crypto exchange Bitrue. This initial attack was quickly repeated on the… Read More

June 28, 2019 @ 4:50 pm By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Friday it expanded of its payout product in the Philippines. Wirecard reported its cards may be used in a wide range of industries. Cardholders can use the contactless cards to carry out seamless transactions… Read More

June 28, 2019 @ 3:22 am By JD Alois  |  

Capital Markets Malaysia, an affiliate of the Securities Commission Malaysia (SC), hosted an event to generate greater awareness of capital raising and investment opportunities in the Malaysian capital market. The target audience was micro, small-and-medium enterprises (MSMEs); and entrepreneurs. The half-day forum focused on how… Read More

June 26, 2019 @ 7:58 am By JD Alois  |  

ICONLOOP, one of the largest blockchain enterprises in South Korea, has received regulatory approval for its ID services, according to a note from the company. ICONLOOP uses a proprietary blockchain engine “loopchain.” ICONLOOP has created a blockchain based digital ID service that may be used… Read More

June 25, 2019 @ 12:15 pm By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has posted a deck on GFin or the Global Financial Innovation Network. Hong Kong has emerged as a leading Fintech hub having embraced innovation in financial services. GFiN was launched by the UK Financial Conduct Authority (FCA) a bit… Read More

June 25, 2019 @ 7:20 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Tuesday it has formed a new partnership Bank of Ganzhou to establish a new fintech research and development center.  PINTEC reported that through the partnership, it and Bank of Ganzhou will jointly establish a fintech research… Read More

June 24, 2019 @ 8:30 pm By JD Alois  |  

TrustToken is issuing a stablecoin backed by Hong Kong dollars. TrustToken says this is the first stablecoin pegged to an Asian currency. TrueHKD will be pegged one-to-to one with the Hong Kong dollar that is currently worth about USD $0.13. TrustToken has partnered with Legacy… Read More

June 24, 2019 @ 12:35 pm By JD Alois  |  

Later this week the V20 conference will take place alongside the bi-annual G20 event being hosted in Japan. The G20 is, of course, the global powwow of 19 leading nations plus the EU. While mostly a lot of hobnobbing and back-room policy wrangling, while in… Read More

June 24, 2019 @ 8:20 am By JD Alois  |  

The peer to peer lending market in China was at one time similar to the ridiculous ICO market. Full of big promises that ended up being empty commitments. Allegations of fraud in the P2P sector in China has been far larger than the ICO sector… Read More

June 24, 2019 @ 7:43 am By JD Alois  |  

Bitbond, a Germany-based global online lending platform that is in the process of issuing one of the first security tokens, says guidelines issued by FATF impacting “virtual asset service providers” or VASPs – has gone too far. Bitbond, licensed by BaFin, is in the midst… Read More

June 22, 2019 @ 3:20 pm By Xu Gao  |  

Online Insurance Platform Wukongbao Secures a New Round of Financing from 58 Group, Plum Ventures and Yeepay On June 20th, online insurance platform Wukongbao announced that it had received a new round of financing. Participants in the investment included 58 Group, Yeepay, and Plum Ventures…. Read More

June 21, 2019 @ 7:10 pm By JD Alois  |  

The Financial Action Task Force (FATF) is out with their “Guidance for a Risk-based Approach: Virtual Assets and Virtual Service Providers.” This guidance, which was widely expected to be released today, should be rubber-stamped at next week’s G20 meeting in Japan. The proposals included in… Read More

June 21, 2019 @ 9:22 am By JD Alois  |  

Singapore based Algorand successfully raised $60 million in a dutch auction token sale this week. The Algorand Foundation said the auction was “met with overwhelming demand” as they distributed the first 25 million Algos to global auction participants. Algorand boldly claimed this was the “start… Read More

June 21, 2019 @ 1:04 am By JD Alois  |  

A report indicates that Facebook may have to skip over India when it launches Libra, its cryptocurrency based off a basket of stable assets. According to the EconomicTimes, “a person directly in the know” said Facebook has failed to ask for, and receive, regulatory approval:… Read More

June 19, 2019 @ 8:52 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Wednesday it has extended its partnership with  1an.com, an insurtech company based in Shenzhen, to offer overseas accidental insurance package. PINTEC reported it provides 1an with insurance brokerage solutions and has developed customized overseas accident insurance… Read More

June 18, 2019 @ 2:11 pm By Cali Haan  |  

Viruses “first marketed in a Russian bulletin board in June 2011” have been found on computers of employees at Coincheck, a Japanese cryptocurrency exchange hacked in January 2018 for more than $534 million USD in NEM tokens, Asahi Shimbum writes. Previously, South Korean intelligence had… Read More

June 18, 2019 @ 1:16 pm By Cali Haan  |  

Police from the city of Qiqihar in Western China used a drone to locate an illegal Bitcoin mine hidden in the centre of the large “fish pond” or marsh adjacent to an oil production facility, Chinese news outlet Huangiu reports. Police from the Green Grassland… Read More

June 18, 2019 @ 10:18 am By Cali Haan  |  

Following a recommendation made last year in April by Korea’s Fair Trade Commission, five cryptocurrency exchanges in the country have updated their terms of service to state they can be liable for losses resulting from cyberattacks or system malfunctions, YonHap News reports.  The new language… Read More