Asia

June 12, 2024 @ 10:51 pm By Omar Faridi  |  

Airwallex, a global payments and financial platform for modern businesses, saw robust customer growth in Hong Kong, with its transacting customer base increasing by 79% YoY in the first quarter of 2024. Reflecting the strong customer growth, Airwallex Hong Kong also “recorded a 108% YoY… Read More

June 12, 2024 @ 10:46 pm By Omar Faridi  |  

The Financial Services Regulatory Authority (FSRA) of ADGM and the Bermuda Monetary Authority (BMA) have recently announced the signing of a joint Digital Assets Memorandum of Understanding (MoU). The MoU creates a framework “enabling the collaboration between the BMA and the FSRA to support the… Read More

June 12, 2024 @ 10:42 pm By Omar Faridi  |  

Currencycloud, which focuses on simplifying business in a multi-currency world, and Pyvio, the fintech building ‘Glocal’ financial services infrastructure, have announced a partnership offering efficient and cost-effective cross-border payment solutions for Chinese e-commerce businesses operating in emerging markets. The partnership will allow Pyvio to leverage… Read More

June 12, 2024 @ 9:52 pm By Omar Faridi  |  

Stake, the digital platform for real estate investment, announced that they have raised $14 million in a Series A round reportedly led by MEVP (Middle East Venture Partners), along with Aramco’s Wa’ed Ventures, which is said to be one of Saudi Arabia’s largest VC’s, Mubadala… Read More

June 12, 2024 @ 7:21 pm By Omar Faridi  |  

In 2023—as economies fully reopened and travel resumed—Grab (NASDAQ: GRAB) says that its mobility business rebounded and their deliveries business showed remarkable resilience amidst rising inflation. Grab claims that they grew their user base. As of December 2023, 35.5 million people leverage their platform “to… Read More

June 12, 2024 @ 1:58 am By Omar Faridi  |  

Bitdeer Technologies Group (Nasdaq: BTDR), a technology company for blockchain and high-performance computing, announced its research & development (R&D) technology roadmap for the SEALMINER Bitcoin mining machine. This disclosure reaffirms the company’s ongoing commitment “towards driving greater transparency in the mining industry.” In the dynamically… Read More

June 9, 2024 @ 5:44 pm By Michael Wong  |  

Asialink Finance Corp, a provider of financial solutions to small and medium enterprises (SMEs) in the Philippines, has announced secured P4 billion (about $71 million) from Malaysian private equity firm Creador. This strategic infusion of funds will see Creador acquiring an 18% stake in Asialink,… Read More

June 8, 2024 @ 6:34 pm By Michael Wong  |  

Filipinos’ reliance on digital financial services intensified in 2023, with users spending a cumulative 1.3 billion seconds, or 42 years, on digital lending applications, marking a 37-percent surge from the previous year, a report by consumer credit service Digido revealed. According to the study, personal… Read More

June 8, 2024 @ 1:32 pm By Michael Wong  |  

Elevate, a Fintech startup supported by Y Combinator, has announced a successful $5 million funding round to bolster its operations in the Philippines, bringing its total raised since 2021 to $10 million. This recent influx from backers such as Y Combinator, Goodwater, Global Founders Capital,… Read More

June 7, 2024 @ 5:27 pm By Omar Faridi  |  

Majid Al Futtaim, a shopping mall, communities, retail, and leisure pioneer across the MENA region, announced a new partnership with Checkout.com, a global digital payments provider. The agreement will see the 15 million plus customers “that shop Majid Al Futtaim’s online stores each month provided… Read More

June 7, 2024 @ 9:53 am By JD Alois  |  

While China is skeptical about crypto, Hong Kong is a bit different and more supportive of digital assets. Today, a Memorandum of Understanding (MoU) highlights this fact as Switzeralnd-based Crypto Valley Association (CVA) and Invest Hong Kong (InvestHK) have agreed to partner on Fintech ecosystems… Read More

June 6, 2024 @ 7:57 pm By Omar Faridi  |  

Paxos International, a UAE-based affiliate of Paxos, announced the launch of a yield-bearing stablecoin – Lift Dollar (USDL). Issued by Paxos International, “a regulated entity under the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), USDL will be available to consumers in… Read More

June 6, 2024 @ 7:22 am By JD Alois  |  

Robinhood (NASDAQ: HOOD), a modern spin on a retail brokerage, has announced the pending acquisition of Bitstamp, a crypto exchange that operates across the EU, US, UK and Asia. Bitstamp is a top 20 crypto exchange, currently ranked 16th in the world by Coinmarketcap. The digital… Read More

June 5, 2024 @ 6:43 pm By Omar Faridi  |  

It’s now possible to use digital currency in China in order to save carbon credits. Industrial Bank‘s digital RMB application use-cases continue to expand. Recently, it was reported that Industrial Bank has introduced a new service. This is for newly opened real-name Industrial Bank wallet… Read More

June 5, 2024 @ 6:07 am By Omar Faridi  |  

PhonePe expanded its loan distribution offerings with the launch of secured lending products on its platform. Partnering with a network of trusted banks, non-banking financial companies (NBFCs) and fintechs, PhonePe armed “with its distribution strength of 535+ Million registered users, aims to create a powerful and… Read More

June 4, 2024 @ 9:36 am By Omar Faridi  |  

DNA Payments has grown its portfolio of POS alternative payment methods by launching Alipay+, a suite of cross-border mobile payment and digitalisation technology solutions operated by Ant International. Alipay+ will allow over 50,000 UK merchants “using DNA Payments’ POS terminals to accept direct payments from… Read More

June 3, 2024 @ 11:41 pm By Omar Faridi  |  

Singapore recently released the Environmental Crimes Money Laundering (ML) National Risk Assessment (NRA) which identifies the key threats and vulnerabilities in environmental crimes ML that Singapore “is exposed to, and outlines mitigation measures which government agencies, financial institutions (FIs) and Designated Non-Financial Businesses and Professionals… Read More

June 3, 2024 @ 11:27 pm By Omar Faridi  |  

Uppsala Security, a provider of tools and services for crypto AML/CTF, transaction risk management, regulatory compliance, transaction tracking, and cybersecurity, announced a partnership with AhnLab Blockchain Company. Signed on April 30, 2024, the MoU focuses “on cooperation in next-generation virtual asset anti-money laundering (AML) security… Read More

June 2, 2024 @ 9:45 pm By Michael Wong  |  

QNB Group, the largest financial institution in the Middle East and Africa, and Ooredoo Fintech have announced a groundbreaking extension to their partnership aimed at revolutionizing fintech services in Oman. This collaboration marks a significant milestone in the region’s digital transformation journey as both entities… Read More

June 2, 2024 @ 9:06 pm By Michael Wong  |  

Spark Fintech Limited, an affiliate of Bybit, one of the world’s top three cryptocurrency exchanges by volume, has announced its decision to withdraw its application for a Virtual Asset Services Providers (VASP) license with the Hong Kong Securities and Futures Commission (SFC). This strategic decision… Read More