Asia

November 29, 2023 @ 4:24 pm By Omar Faridi  |  

The Philippines Securities and Exchange Commission (SEC) has reportedly issued an advisory against Binance for allegedly carrying out unauthorized business operations. This latest announcement from the Philippines comes shortly after the nation’s SEC stated that it would begin calling out unlicensed exchanges as part of… Read More

November 28, 2023 @ 11:21 pm By Omar Faridi  |  

Wahed Invest Limited, the UAE robo-advisory subsidiary of Wahed Inc., a global Shariah-compliant fintech that aims to advance financial inclusion through accessible, affordable and value-based investing, has launched after “having been granted a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of… Read More

November 28, 2023 @ 9:40 am By JD Alois  |  

Tokenization or turning an asset into a “digital asset” or digital security makes a lot of sense. By leveraging technology, an asset can be managed more effectively, comply with regulations and be programmed to automatically perform certain services. Today, most investible assets are heavy on… Read More

November 28, 2023 @ 8:24 am By Omar Faridi  |  

SBI Holdings, Inc. announces that it has concluded a Memorandum of Understanding with Circle Internet Financial, a global financial technology firm and the issuer of USDC, the world’s regulated stablecoin, “to circulate USDC stablecoins, establish a banking relationship and promote the use of Circle’s Web3… Read More

November 28, 2023 @ 12:51 am By Omar Faridi  |  

Nium, the firm enabling real-time global payments, and Jeonbuk Bank (JB Bank), aSouth Korean financial institution, have announced a partnership. Together, they will offer the country’s first global remittance service “targeted at the 2.5 million non-Korean residents that live in South Korea.” The service will… Read More

November 27, 2023 @ 9:09 pm By Omar Faridi  |  

Xero, the global small business platform, has released a new report revealing Singapore’s accounting and bookkeeping sector is undergoing significant transformation, “driven by technology innovation and shifting client expectations.” Xero’s State of the industry report “surveyed 300 accountants and bookkeepers working in Singaporean practices to… Read More

November 27, 2023 @ 8:28 pm By Omar Faridi  |  

Bank of the Philippine Islands (BPI) adopts digital-first HR with its partnership with Darwinbox, Asia’s Human Resource Management System (HRMS) provider. With a legacy spanning over 170 years, BPI has “enhanced its employee experience and streamlined HR processes for its 18,000-strong workforce, covering a diverse… Read More

November 27, 2023 @ 2:03 pm By Omar Faridi  |  

A total of 2,675 venture capital (VC) funding deals were announced in China during January-October 2023 while the disclosed funding value of these deals stood at $34.6 billion. China witnessed considerable decline “in terms of both deal volume and value compared to January-October 2022,” according… Read More

November 27, 2023 @ 12:23 pm By JD Alois  |  

Singapore is well-recognized as the top Fintech hub in Asia. Receiving solid support from the government of Singapore, the small country has hosted an annual Fintech event and according to a public statement, participation in the annual Singapore Fintech Festival topped 66,000 participants this year,… Read More

November 26, 2023 @ 9:50 pm By Omar Faridi  |  

Citi (NYSE: C) announced it has successfully completed the sale and full migration of its Indonesia consumer businesses to UOB Indonesia (UOBI). The sale includes retail banking, credit card, and unsecured lending businesses, “as well as the transfer of employees.” Citi and UOB first announced… Read More

November 26, 2023 @ 9:44 pm By Michael Wong  |  

Korea’s cryptocurrency industry is poised for significant growth as the global crypto landscape undergoes major shifts, with Chinese crypto exchanges faltering and the world’s largest exchange, Binance, facing legal challenges in the US, the Korea Times reported. In a recent development, Binance was ordered by… Read More

November 26, 2023 @ 9:42 pm By Michael Wong  |  

The future of Philippine fintechs, which have basic characteristics centered around innovation and sustainability, will be driven in major part by investments that value environmental, social and governance (ESG) principles, analysis from consumer finance company Digido revealed. The global sustainability technology (SusTech) industry, characterized to… Read More

November 26, 2023 @ 10:21 am By Omar Faridi  |  

Habyt, the flexible housing provider,  announced an exclusive partnership with Singapore-based startup, Rently, that marked a significant milestone in “the evolution of flexible living solutions.” For the first time in the co-living sector, Habyt has introduced “a disruptive rental model which allows new members freedom… Read More

November 26, 2023 @ 10:15 am By Omar Faridi  |  

Digitt+, an agri-fintech company, has been granted with a full commercial approval by the State Bank of Pakistan. This recent achievement marks “the culmination of an exciting journey that began with pilot approval, during which they onboarded 10,000 customers, facilitated transactions of worth PKR 400… Read More

November 26, 2023 @ 10:14 am By Omar Faridi  |  

Mastercard (NYSE: MA) announced that its joint venture entity, Mastercard NUCC Information Technology (Beijing) Co., Ltd., has received formal approval from the People’s Bank of China (PBOC) and the National Administration of Financial Regulation (NAFR) in order “to commence domestic bankcard clearing activity in China.”… Read More

November 25, 2023 @ 6:54 pm By Michael Wong  |  

Scapia, an India-based fintech company focused on making travel more accessible, has successfully raised $23 million in its Series-A funding round. The round was led by Elevation Capital and 3STATE Ventures, with participation from existing investors Matrix Partners India and Tanglin Venture Partners. Scapia said… Read More

November 25, 2023 @ 6:51 pm By Michael Wong  |  

Indonesia’s central bank, the Financial Services Authority (OJK), has partnered with the country’s fintech associations to issue what it describes as ethical guidelines on artificial intelligence (AI) use in the context of the fintech industry. The guidelines were formulated in collaboration with four leading fintech… Read More

November 25, 2023 @ 6:47 pm By Michael Wong  |  

India-based micro-lender Arohan Financial Services is reportedly planning to expand its digital lending operations as part of its overall goal of revolutionizing microfinance with digital push. Arohan said it will leverage its ‘Apna Arohan’ app for more efficient loan disbursements and improved repayment compliance. Launched… Read More

November 24, 2023 @ 10:15 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) has released its final set of regulations to enhance the oversight of Digital Payment Token (DPT) services, following up on its initial legislative amendments in July 2023. MAS said in a statement that the consulted proposals detail business conduct… Read More

November 24, 2023 @ 8:09 pm By Michael Wong  |  

India’s Finance Minister Nirmala Sitharaman said that while the G20 has embraced the “G20 roadmap on Crypto Sssets“, there is currently no set timeline for its implementation yet. Sitharaman made the pronouncement as she discussed the progress on the ‘G20 roadmap on Crypto Assets’. This… Read More