Asia

Digital Assets: Key Goal of V20 is to Explore Solutions and Come Up with a Solution to FATF Guidelines Impacting VASPs

Later this week the V20 conference will take place alongside the bi-annual G20 event being hosted in Japan. The G20 is, of course, the global powwow of 19 leading nations plus the EU. While mostly a lot of hobnobbing and back-room policy wrangling, while in… Read More

As Chinese P2P Lending Market Rapidly Consolidates, Report Says Some Platforms Look to Other Countries for Solace

The peer to peer lending market in China was at one time similar to the ridiculous ICO market. Full of big promises that ended up being empty commitments. Allegations of fraud in the P2P sector in China has been far larger than the ICO sector… Read More

Bitbond CEO Says FATF is Going Too Far with Global Guidelines for Crypto Industry

Bitbond, a Germany-based global online lending platform that is in the process of issuing one of the first security tokens, says guidelines issued by FATF impacting “virtual asset service providers” or VASPs – has gone too far. Bitbond, licensed by BaFin, is in the midst… Read More

China: WeiyangX Fintech Review

Online Insurance Platform Wukongbao Secures a New Round of Financing from 58 Group, Plum Ventures and Yeepay On June 20th, online insurance platform Wukongbao announced that it had received a new round of financing. Participants in the investment included 58 Group, Yeepay, and Plum Ventures…. Read More

V20 to Discuss Challenges from FATF Guidance Impacting Virtual Asset Service Providers

The Financial Action Task Force (FATF) is out with their “Guidance for a Risk-based Approach: Virtual Assets and Virtual Service Providers.” This guidance, which was widely expected to be released today, should be rubber-stamped at next week’s G20 meeting in Japan. The proposals included in… Read More

Algorand Raises $60 Million in Token Auction

Singapore based Algorand successfully raised $60 million in a dutch auction token sale this week. The Algorand Foundation said the auction was “met with overwhelming demand” as they distributed the first 25 million Algos to global auction participants. Algorand boldly claimed this was the “start… Read More

Report Says No Libra Crypto in India as Facebook Has Not Received Necessary Government Permission

A report indicates that Facebook may have to skip over India when it launches Libra, its cryptocurrency based off a basket of stable assets. According to the EconomicTimes, “a person directly in the know” said Facebook has failed to ask for, and receive, regulatory approval:… Read More

PINTEC Announces Expansion of Partnership With Insurtech 1an For Overseas Accident Insurance Package

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Wednesday it has extended its partnership with  1an.com, an insurtech company based in Shenzhen, to offer overseas accidental insurance package. PINTEC reported it provides 1an with insurance brokerage solutions and has developed customized overseas accident insurance… Read More

Report: Russian Viruses Found in Investigation of $534 Million USD Hack on Coincheck Cryptocurrency Exchange

Viruses “first marketed in a Russian bulletin board in June 2011” have been found on computers of employees at Coincheck, a Japanese cryptocurrency exchange hacked in January 2018 for more than $534 million USD in NEM tokens, Asahi Shimbum writes. Previously, South Korean intelligence had… Read More

Chinese Authorities Shut Down Illicit Bitcoin Mine Hidden in Marsh

Police from the city of Qiqihar in Western China used a drone to locate an illegal Bitcoin mine hidden in the centre of the large “fish pond” or marsh adjacent to an oil production facility, Chinese news outlet Huangiu reports. Police from the Green Grassland… Read More

Compelled: South Korean Crypto Exchanges Amend Terms to Make Selves Liable for Losses

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Following a recommendation made last year in April by Korea’s Fair Trade Commission, five cryptocurrency exchanges in the country have updated their terms of service to state they can be liable for losses resulting from cyberattacks or system malfunctions, YonHap News reports.  The new language… Read More

Hello Japan: Securitize Partners with the Japan Security Token Association to Accelerate Digital Securities

Securitize and the Japan Security Token Association (JSTA), an association advocating for a compliant digital securities industry, have partnered to accelerate the adoption of digital securities in Japan. According to a release, Securitize and JSTA will work closely with financial institutions and businesses to educate… Read More

Indian Payments Platform MobiKwik Partners with DT One on International Expansion

MobiKwik has partnered with DT One (formerly TransferTo) to expand internationally. MobiKwik is an India-based Fintech in the payments space. DT One One is a global B2B network for “mobile top-ups/recharge, rewards and airtime credit services.” Indian users will now be able to add money… Read More

AngelHub Founder Karen Contet Farzam: Hong Kong’s Startup Community is One of the Fastest Growing Ecosystems in the World

Hong Kong’s First Regulated Investment Crowdfunding Platform. In April of this year, AngelHub became the first investment crowdfunding platform to receive a license from a Securities and Futures Commission (SFC) in Hong Kong. In the past couple of years, Hong Kong has moved quickly to… Read More

Fintech Future: China and the UK Strike Deal on Financial Services Investments

The Vice Premier of China, Hu Chunnhua, is visiting UK government officials this week. As part of the tour, the UK government has announced a series of deals designed to boost trade with China including financial services. The new business deals were agreed to by… Read More

Blockpass and Polymath Form Strategic Partnership

Security token issuance platform Polymath has formed a partnership with Regtech Blockpass. According to a release, Hong Kong-based Blockpass will now provide client onboarding services surrounding customer identification or KYC. Globally, having a solid KYC process is vital for any digital asset issuer. The two… Read More

Allied Wallet Announces Acquisition of Hong Kong Fintech Epayment

Online payment processing provider Allied Wallet announced on Monday it has acquired Epayment, a Hong Kong-based fintech. The acquisition comes just a couple of weeks after Allied Wallet reported it has increased merchant revenue by as much as 60% for some merchants with its new… Read More

Why P2P Lending is a Primary Investment Opportunity

The Fintech space has seen significant investment growth in recent years. Out of 310 private companies valued at over US$1 billion globally, 10 percent are in the Fintech sector, according to CB Insights. Only two other sectors claim a larger share of the unicorn pie,… Read More

China: WeiyangX Fintech Review

Insurtech Platform Shuidi Completes RMB 1 billion C Round of Financing led by Boyu Capital On June 12th, China’s leading Insurtech platform Shuidi (meaning waterdrop in English) was reported to secure RMB 1 billion in C round of financing. The investment was led by Boyu… Read More

Korean Marketplace Lender PeopleFund Raises $35 Million

PeopleFund, a South Korea based online lender, has raised $35 million as part of an extension of a Series B funding round which was announced in October 2018.  PeopleFund is a marketplace lending platform which means it accepts investments from both individuals and institutions. PeopleFund… Read More

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