Asia

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

August 6, 2024 @ 7:00 am By JD Alois  |  

Blockchain ecosystem IOTA has been recognized as being Shari’a-compliant. According to a note from IOTA, the Cambridge Institute of Islamic Finance’s certification states that the IOTA token fulfills all accepted Shari’a principles and standards, including those practiced by the Islamic financial services industry. IOTA reports… Read More

August 5, 2024 @ 10:45 pm By Omar Faridi  |  

PBOC and HKMA has reportedly signed an MOU that is focused on cross-boundary linkage of payment systems between the Mainland and Hong Kong. Mr Lu Lei, Deputy Governor of the People’s Bank of China (PBOC), and Mr Howard Lee, Deputy Chief Executive of the Hong… Read More

August 5, 2024 @ 10:44 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) announced that a Review Group has been set up to recommend measures to strengthen equities market development in Singapore. The Review Group will be chaired by Mr Chee Hong Tat, Minister for Transport, Second Minister for Finance and Board… Read More

August 5, 2024 @ 1:58 pm By Omar Faridi  |  

HashKey Global is pleased to announce the completion of Tether (USDT) integration on the BNB Chain, with deposit and withdrawal services now open. HashKey Global now supports USDT deposit and withdrawal services “on the ERC20, TRC20, BEP20, and Arbitrum networks.” As noted in the update,… Read More

August 5, 2024 @ 12:32 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced a consultation on transfers to the People’s Republic of China (PRC), including the current suspension of “non-specified channels.” The suspension, pertaining mostly to PRC nationals working in Singapore, is in regard to accounts and funds that were… Read More

August 4, 2024 @ 7:22 pm By Omar Faridi  |  

Tokinvest, a marketplace for real-world asset tokenization, and Red Date Technology, the commercialization arm and architect of the Blockchain Services Network (BSN), a public permissioned blockchain infrastructure, announced a strategic partnership to bring significant quantities and value of tokenized real-world assets to market. This collaboration… Read More

August 4, 2024 @ 4:20 pm By Omar Faridi  |  

Alpaca, an API-focused brokerage that operates a modern infrastructure for stocks, ETFs, options, and crypto trading and serves hundreds of financial services businesses globally, and Citadel Securities, a global market maker, announced an extension of their strategic partnership in Japan to jointly leverage their expertise… Read More

August 4, 2024 @ 3:56 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines has revised guidelines to bolster the settlement of digital payments, ensuring the integrity and efficiency of the country’s payment system. This move aims to adapt to evolving payment landscapes and enhance the operational… Read More

August 4, 2024 @ 2:43 pm By Omar Faridi  |  

Bybit, the world’s second-largest crypto exchange by trading volume, has launched a Digital Rupee (eRupee) as a stablecoin for its INR users. This wallet-based mobile payment solution is now live, “offering a secure and convenient way for users to transact on the platform.” In response… Read More

August 4, 2024 @ 2:34 pm By Michael Wong  |  

The Ministry of Corporate Affairs (MCA) in India is set to strike off as many as 400 Chinese companies involved in online loans and online job businesses across 17 states over the next three months, according to a report by Moneycontrol, citing an anonymous government… Read More

August 3, 2024 @ 5:18 pm By Michael Wong  |  

National Pulse, a Dubai-based tech-driven enterprise, has strategically invested in Singaporean Fintech firm Aleta Planet to enhance cross-border payment services in the Middle East. This move aligns with the UAE’s recent push towards open finance and the adoption of digital services, according to the announcement…. Read More

August 3, 2024 @ 5:14 pm By Omar Faridi  |  

Deutsche Bank has launched BASF’s first sustainability-linked payables finance program in Asia, with a focus on its operations in China. The solution meets global standards and has “been tailored to suit local business requirements.” The program will support BASF’s activities in China. The solution provided… Read More

August 3, 2024 @ 4:57 pm By Michael Wong  |  

Globe Fintech Innovations, Inc. (Mynt), the operator of the Philippines’ leading finance super app GCash, has elevated its market position with fresh investments from Ayala Corporation and Mitsubishi UFJ Financial Group (MUFG), boosting its valuation to an impressive $5 billion. This new valuation marks a… Read More

August 3, 2024 @ 8:05 am By Michael Wong  |  

Grab-led GX Bank Berhad (GXBank) announced its plan to invest MYR 1.5 billion ($333 million) into Malaysia over the next five years, including the launch of the GX Untuk Semua initiative. In a statement, GXBank emphasized that the initiative aligns with its enduring commitment to… Read More

August 2, 2024 @ 6:21 am By JD Alois  |  

Abu Dhabi has officially launched the Blockchain Center as it seeks to boost innovation and foster growth in the digital asset sector. The Blockchain Center aims to create a thriving ecosystem that “supports startups, enterprises, and academic institutions through a range of comprehensive services and… Read More

July 31, 2024 @ 6:46 pm By Omar Faridi  |  

Tonik, the Philippines’ digital-only neobank, recently announced that it has achieved steady growth in its consolidated loan portfolio and revenue in the first half of 2024. In 2023, Tonik claims that it “became the first non-captive digital bank in the Philippines to achieve a major… Read More

July 31, 2024 @ 5:22 am By Omar Faridi  |  

Backbase, the global enabler of Engagement Banking, announces the establishment of its first global Center of Excellence (COE) focused on Artificial Intelligence (AI) in Ho Chi Minh City, Vietnam. The COE will serve as the development hub “for Backbase’s AI banking solutions worldwide and will… Read More

July 30, 2024 @ 10:17 pm By Omar Faridi  |  

C2FO, the on-demand working capital platform, announced that the Small Industries Development Bank of India (SIDBI) is the latest financier to join C2treds. This national funding platform “enables the early payment of invoices to provide much-needed liquidity to India’s micro, small, and medium-sized businesses (MSMEs).”… Read More