Asia

March 31, 2024 @ 2:18 pm By Michael Wong  |  

The Reserve Bank of India is contemplating the establishment of the Digital India Trust Agency (DIGITA) in a move to combat the escalating cyber fraud. This initiative aims to clamp down on the proliferation of illicit lending applications by instituting a verification system for digital… Read More

March 31, 2024 @ 12:21 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) recently issued a Notice to extend, for a further six months until 30 September 2024, the suspension of the use of channels that are not specifically permitted (non-specified channels by remittance companies “when transmitting money to persons in the… Read More

March 31, 2024 @ 2:34 am By Michael Wong  |  

Qatar has launched its “first national e-card with registered Qatari brand,” named Himyan, as announced by the Qatar Central Bank. This initiative aligns with the country’s Third Financial Sector Strategy, emphasizing the development of Qatar’s digital payments infrastructure. Himyan represents a significant advancement in the… Read More

March 30, 2024 @ 10:32 pm By Michael Wong  |  

QNB Group, the leading financial institution in the Middle East and Africa, has announced the launch of “FAWRAN,” a revolutionary payment method designed to enhance the payment experience for its customers in Qatar. This innovative service allows for quick and secure transactions using just the… Read More

March 30, 2024 @ 8:07 am By Michael Wong  |  

Singapore-based AI cybersecurity firm StealthMole has announced raising $7 million in Series A funding, a round spearheaded by Korea Investment Partners (KIP). This investment round also saw contributions from Hibiscus Fund, a multinational venture between RHL Ventures, Penjana Kapital, and KB Investment, alongside Smilegate Investment…. Read More

March 30, 2024 @ 7:01 am By Michael Wong  |  

MOVE Digital, the digital arm of Malaysia-listed aviation group Capital A, announced a strategic collaboration with Singapore’s fintech powerhouse, Ant International. This partnership aims to diversify payment methods, enhance digital marketing efforts, and foster sustainable finance practices for the micro, small & medium enterprise (MSME)… Read More

March 29, 2024 @ 5:51 pm By Omar Faridi  |  

Australian digital wallet provider and payment startup Stables has announced the launch of international remittances for its thousands of users (focusing on the AU-PH Corridor). From today, Stables users in over 130 countries can send Australian Dollars or Philippine Pesos to over 140 million people… Read More

March 29, 2024 @ 4:39 pm By Michael Wong  |  

MyShell, a Tokyo-based innovator in the field of artificial intelligence, announced that it has successfully raised $11 million in a Pre-Series A funding round. This recent injection of capital, led by Dragonfly Capital and supported by a consortium of investors including Delphi Ventures, Bankless Ventures,… Read More

March 29, 2024 @ 11:03 am By Omar Faridi  |  

PhonePe App users traveling to the UAE can now make payments using UPI at Mashreq’s NEOPAY terminals, available across a wide array of retail stores, dining outlets, as well as tourist and leisure attractions. They simply need to “scan the QR code for seamless and… Read More

March 26, 2024 @ 10:55 pm By Omar Faridi  |  

Ahlan App, the Bahraini loyalty programme, reports that it has successfully raised $3 million at a valuation of $15 million in its first investment round, which has been fully subscribed to and led by Hope Ventures. The investment round was said to be “joined by… Read More

March 26, 2024 @ 6:34 pm By Omar Faridi  |  

Alibaba’s Ant Group has reportedly committed another SGD 200 million investment into ANEXT Bank, which is its wholly-owned subsidiary and SME digital bank. This, according to media reports from March 25, 2024. As reported by DealStreetAsia, the digital finance and technology firm had previously committed… Read More

March 26, 2024 @ 4:04 am By Omar Faridi  |  

Soft Space, the fintech-as-a-service company, has announced a capital alliance with its long-standing partner, GMO Financial Gate, Inc., which claims to be one of Japan’s largest payment processing companies. This investment from GMO-FG comes before Soft Space’s planned Series C funding round, combining their strengths… Read More

March 25, 2024 @ 11:07 pm By Michael Wong  |  

Thailand energy conglomerate Gulf Energy Development Plc is teaming up with telecommunications powerhouse Advanced Info Service Plc (AIS) and the esteemed Krungthai Bank Plc (KTB) to enter the burgeoning field of virtual banking in the country. According to a report by The Nation, this collaboration… Read More

March 25, 2024 @ 7:42 pm By Omar Faridi  |  

China witnessed the announcement of a total of 416 venture capital (VC) funding deals of worth $6.4 billion during the first two months of year 2024, which is a year-on-year (YoY) decline of 18.9% in terms of deal volume and 4.9% in terms of funding… Read More

March 25, 2024 @ 2:47 pm By Michael Wong  |  

Thunes, a Singapore-based cross-border payments company, announced its enhanced strategic partnership with Visa, the global titan in digital payments. This collaboration is set to introduce new payment endpoints across vital markets in Asia and Africa, marking a significant step forward in the expansion of digital… Read More

March 24, 2024 @ 7:50 pm By Omar Faridi  |  

Coupa, the AI-driven platform that helps you operate smarter and grow faster, today announced the launch of its first data center in the Middle East, to be inaugurated in collaboration with the Amazon Web Services (AWS) team in Dubai. The new data center highlights Coupa’s… Read More

March 23, 2024 @ 3:39 pm By Omar Faridi  |  

DBS Bank, together with J.P. Morgan Asset Management (JPMAM), has debuted Asia’s first global investment portfolio that not only automatically calibrates its asset allocation to an individual’s life stage and retirement timeline (also known as a “glidepath”), but also allows investors to automate their drawdowns… Read More

March 23, 2024 @ 3:38 pm By Michael Wong  |  

KuCoin, a global cryptocurrency exchange and ranked within the top seven, has announced its achievement as the first Financial Intelligence Unit (FIU) compliant global crypto exchange in India. This landmark accomplishment highlights a crucial moment in the dynamic landscape of Indian cryptocurrency amidst recent regulatory… Read More

March 21, 2024 @ 11:04 pm By Omar Faridi  |  

Mastercard (NYSE: MA) continues to expand its cross-border payment solutions with a new connection to Alipay, China’s digital open platform under Ant Group. The move comes as consumers increasingly “look for ways to send money across the globe quickly and securely.” Insights from Mastercard’s Borderless… Read More

March 20, 2024 @ 9:51 pm By Omar Faridi  |  

Graviton, one of India’s Web3-focused accelerators, has unveiled a list of teams that have been accepted into the second edition of its 16-week program. This update comes nearly a month after the syndicate-backed fund stopped accepting applications, and was preceded by “a nationwide hunt for… Read More