Asia

August 12, 2024 @ 10:20 pm By Omar Faridi  |  

Wise Payments Ltd. intends to begin signing up new clients in India for global remittances following a pause. This will be done to potentially acquire a larger share of a market that’s reportedly grown to $32 billion. The London-headquartered Fintech has stopped taking additional clients… Read More

August 12, 2024 @ 10:19 pm By Omar Faridi  |  

Hong Kong’s Fintech ecosystem is reportedly focusing on growth plans across Greater Bay, along with closer cooperation with Shenzhen. As first reported by the SCMP, the Fintech association intends to further expand its operations and programs in the Greater Bay Area, according to Chair Lareina… Read More

August 12, 2024 @ 10:18 pm By Omar Faridi  |  

Mox Bank Limited is making it easier for Mox Invest customers to expand their portfolios with exchange-traded cryptocurrency funds (Crypto ETFs) directly on Mox Invest. The service offers a convenient way to gain “exposure to the crypto market through a regulated and familiar investment platform… Read More

August 12, 2024 @ 10:17 pm By Omar Faridi  |  

The Securities and Exchange Commission (SEC) in Thailand is introducing the Digital Asset Regulatory Sandbox to facilitate experiments and the development of innovations supporting the efficient provision of digital asset services in the real-life context. Interested parties are welcome to “participate in the Sandbox to… Read More

August 12, 2024 @ 10:13 pm By Omar Faridi  |  

In June 2023, the Financial Services Agency of Japan (FSA) amended the Payment Services Act (PSA) to provide an updated regulatory framework for crypto assets and stablecoins. According to an update from Blockdaemon, these regulations have clear implications “for Crypto Asset Exchange Service Providers (CAESP)… Read More

August 12, 2024 @ 2:14 pm By Omar Faridi  |  

Chinese tech giant Tencent has reportedly decided to cash in its stake in UK neobank Tide as part of an overall retreat from its global investments strategy. Tencent has reportedly offloaded its shares to an unidentified buyer or group of buyers. Tencent, known for its… Read More

August 12, 2024 @ 2:12 pm By Omar Faridi  |  

Fintech investments in China made a modest recovery towards the end of 2023 and trickled over into 2024. Among the top ten fintech deals in ASPAC, five originated from Chinese Mainland and Chinese Hong Kong. Despite the regulatory hiccups in China, fintech is poised “to… Read More

August 11, 2024 @ 2:20 pm By Omar Faridi  |  

Telr, the online payment gateway, has announced its strategic collaboration with Mastercard (NYSE: MA) to introduce its digital checkout solution, Click to Pay, across its extensive network of merchants in the UAE. Through this partnership, Telr will deploy payment technologies “to enhance the customer experience.”… Read More

August 11, 2024 @ 2:19 pm By Michael Wong  |  

Sav, a UAE-based Fintech, has secured in-principle approval for a Category 4 license from the Dubai Financial Services Authority (DFSA), positioning the company for significant expansion. The licence will enable Sav to offer regulated financial services, aligning with its objective to simplify money management for… Read More

August 11, 2024 @ 2:10 pm By Michael Wong  |  

Kuwait has officially launched securities-based crowdfunding platforms, marking a significant milestone in the country’s financial technology landscape nearly two years after the initial draft for Fintech regulation was introduced. The announcement, made by Minister of Commerce and Industry Omar Al-Omar, represents a strategic move aimed… Read More

August 10, 2024 @ 12:54 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has announced the lifting of its moratorium on the issuance of new digital banking licenses, effective January 1, 2025. The decision, approved by the Monetary Board, will allow up to ten digital banks… Read More

August 9, 2024 @ 5:48 pm By Omar Faridi  |  

Uppsala Security is pleased to share that it has been instrumental in supporting a landmark investigation in Sri Lanka, marking the country’s first large scale case involving cryptocurrency assets. The team worked closely “with local authorities, especially the Financial Intelligence Unit, conducting thorough investigations that… Read More

August 9, 2024 @ 5:41 pm By Omar Faridi  |  

Philippines based digital bank, Tonik, announces its expansion to Cebu, bringing its full suite of customer-centric and innovative products to this region. This move underscores Tonik’s vision to “enhance financial inclusivity and provide accessible banking solutions to more Filipinos.” With this expansion, customers in Cebu… Read More

August 9, 2024 @ 5:37 pm By Omar Faridi  |  

Lukka, the global blockchain data provider, announced that Animoca Brands has chosen Lukka as an enterprise data management provider. In addition, Animoca Capital, a growth equity fund “focusing on mid-to-late stage Web3 companies which is partnered with Animoca Brands, has made a strategic investment into… Read More

August 9, 2024 @ 11:12 am By Omar Faridi  |  

PhonePe announced the launch of a ‘pre-approved term life insurance’ feature on its platform. The feature aims to make insurance coverage more “accessible and affordable for millions of Indians by waiving the requirement for proof of income at the time of policy purchase.” With this launch,… Read More

August 9, 2024 @ 8:52 am By Omar Faridi  |  

BitGo says it has obtained the Major Payment Institution License from the Monetary Authority of Singapore (MAS). This comes after its in-principle approval from several months prior. Singapore‘s regulatory framework is said to support its “commitment to offering regulated, secure, and compliant digital asset services… Read More

August 8, 2024 @ 4:05 am By Omar Faridi  |  

Tech Mahindra (NSE: TECHM), a global provider of technology consulting and digital solutions to enterprises across industries, has announced a partnership with Finastra, a global provider of financial software applications and marketplaces, to help corporate banks accelerate their digital transformation journeys. Through the partnership, Tech… Read More

August 7, 2024 @ 10:11 pm By Omar Faridi  |  

Setu, a Pine Labs company, in partnership with Axis Bank, launched UPISetu, India’s UPI-focused payments platform for businesses and developers. NPCI’s UPI has seen a rise in India “with Person-to-Merchant (P2M) transactions alone witnessing a phenomenal rise of 241% from 2.56 billion transactions in June… Read More

August 6, 2024 @ 2:53 pm By Omar Faridi  |  

RAK Digital Assets Oasis, the Free Zone with Common Law features dedicated to supporting and nurturing digital assets companies, announces its partnership with digital banking platform Ibanera. As the RAK DAO licensed ecosystem partner, Ibanera will leverage “an extensive network of Web3 companies, funding opportunities,… Read More

August 6, 2024 @ 10:50 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has issued an update on the development of digital banking or “virtual banks” (VB) in Hong Kong. The HKMA states that the establishment of regulated digital banking has achieved its three stated goals: promoting Fintech and innovation, creating a… Read More