Asia

LuxTag Claims First Successful Security Token Offering in Malaysia, Offering Accepts BTC and XEM

LuxTag has closed on a $360,000 token offering according to a note from the company. The crowdfunding round saw 51% of the funds denominated in Bitcoin and XEM (NEM).  LuxTag claims to be Malaysia’s very first successful token offering. The securities offering was hosted on… Read More

Robo.cash Reports Rapid Rise in P2P Loans Financed in Singapore

Robo.cash, a peer to peer lender and part of the Robocash Group, is reporting a rapid increase in the percentage of P2P loans financed by Singapore based investors. According to a release, in just 2 months €2.1 million of loans or a 5th of the… Read More

Singapore-based Fintech Hoolah to Introduce Interest-Free Installment Plans in Malaysian Markets

Singapore-headquartered Fintech Hoolah has revealed that it will be introducing its interest-free installment plan in Malaysian markets. Established in 2018, Hoolah lets customers pay for their purchases in three easy monthly installments without having to pay any interest or extra fees. Hoolah has teamed up… Read More

Regtech: Taiwan’s CoolBitX, a Blockchain Security Firm, Secures $16.75 Million in Funding via Round Led By SBI Holdings

Asia-based CoolBitX, a leading blockchain or distributed ledger tech (DLT) security firm, has acquired $16.75 million in capital through a Series B investment round from several large investors. CoolBitX’s funding round was led by Japan-based financial services company SBI Holdings. Monex Group, South Korean crypto-asset… Read More

Grab Secures More Than $850 Million Through Japanese Investors, Including Mitsubishi UFJ Financial Group Inc. & TIS Inc.

Just days after Mitsubishi UFJ Financial Group Inc. (MUFJ) was reportedly set to invest more than $700 million in Grab, the Southeast Asian ride-hailing giant announced it secured more than $800 million from Japanese investors, which includes MUFJ and also  TIS Inc. As previously reported,… Read More

Crypto.com Launches Onboarding Platform For Pay Checkout Merchants

Hong Kong-based cryptocurrency platform Crypto.com announced on Tuesday the launch of its new onboarding platform for merchants to sign up for the Crypto.com Pay Checkout service. Crypto.com reported that through the Crypto.com Pay Checkout, online merchants may offer their customers the option to pay with… Read More

Funding Societies Partners with SGeBIZ to Help Finance Asian SMEs

Singapore based peer to peer finance platform Funding Societies has announced a new partnership with Singapore E-Business Pte Ltd (SGeBIZ). The arrangement seeks to “provide quick financing solutions to local SME suppliers and their buyers.” Funding Societies offers a diverse range of loan products, that… Read More

WeChat Pay to Expand Operations and Services in the UAE Following Agreement with Tencent Holdings, Network International

WeChat Pay is planning to expand its operations and services in the United Arab Emirates (UAE), after an agreement was finalized between Tencent Holdings and UAE-headquartered solutions developer Network International. Merchants that use Network International in the UAE will soon have the option to set… Read More

CBDC: Bank of Japan and Nation’s Financial Service Agency Held Talks to Determine Whether to Issue Central Bank Digital Currency

Central bank heads and finance ministers recently held discussions regarding crypto-asset regulations at the G-20 summit.  Japanese officials working at the Bank of Japan (BOJ), the nation’s Ministry of Finance (MOF), and Financial Services Agency (FSA) have held talks in order to determine whether the… Read More

Digital Tranformation Report: Traditional UAE Banks to Consolidate to Compete with Digital Banking Challengers

Large banks based in the United Arab Emirates (UAE), one of the Middle East’s leading financial hubs, have been investing in digital transformation projects to compete in an industry with rapidly changing consumer requirements – according to analysis performed by Bloomberg Intelligence. The analysis revealed… Read More

Indian Digital Payments Giant Paytm’s Founder Reveals Fintech Firm’s Roadmap to Profitability

India-based digital payment giant Paytm says it hopes to become profitable in the coming years  as it plans to develop a new business strategy. Vijay Shekhar Sharma, the 41-year-old billionaire founder and CEO at Paytm, who leads One 97 Communications, the parent firm of Paytm,… Read More

First Equity Crowdfunding Offer for a Film Launched in Southeast Asia, Listed on FundedByMe

Stranger Pictures has launched the first equity crowdfunding offering for a film in Southeast Asia according to a note from the issuer. The securities offering is listed on global platform FundedByMe in Malaysia. FundedByMe is based in Sweden and is a publicly-traded company. The company… Read More

UAE-based aafaq Islamic Finance Launches New Core Digital Banking Platform, Developed by InfoSys

United Arab Emirates (UAE)-based aafaq Islamic Finance has officially launched its core banking, Islamic banking and payments platforms, which have been developed by Infosys. aafaq’s management confirmed that the financial institution has upgraded its digital, payments and Islamic banking with software designed by Infosys, an… Read More

Malaysia’s Axiata Group, a Major Telecommunications Company, Might Acquire Digital Banking License

Malaysia-based Axiata Group, a major telecommunications company, has reportedly been holding discussions with around 11 different potential business partners in order to acquire a digital banking license in the Asian nation. Mohd Izzaddin Idris, Axiata’s deputy chief executive, confirmed that the firm was also talking… Read More

KuCoin Launches One-Stop Cryptocurrency Trading Platform Solution Product “KuCloud”

KuCoin, a Singapore-based global cryptocurrency exchange, announced on Thursday the launch of its new one-stop crypto trading platform solution product, KuCloud. According to KuCoin, Kucloud offers two products, XCoin and XMEX. It is also able to deliver key functionalities of KuCoin Spot platform and KuMEX… Read More

IBM’s Indonesia Division Confirms that Country’s Directorate General of Customs and Excise is Using Tech Giant’s DLT-enabled Shipping Software, TradeLens

New York-headquartered tech giant IBM’s Indonesia division has confirmed that the nation’s Directorate General of Customs and Excise has begun using the blockchain or distributed ledger technology (DLT)-enabled shipping platform, called TradeLens. This news has come after months of platform development, with the country’s Customs… Read More

Banking Challengers Attracted Record Levels of Investments Last Year: Report

Digital Banking Banking challengers have been introducing innovative financial products in order to compete with traditional banks. Challenger or neobanks attracted $5.2 billion in funding last year, which is more than triple of what they received back in 2018 ($1.6 billion). Italy-based Nexi, a digital… Read More

OSL Crypto Exchange’s Operator BC Group Secures $14 Million Investment From Fidelity International

Fidelity International, a spin-off from the U.S. financial services brand Fidelity Investments, has reportedly invested $14 million in BC Group (stock code: 863 HK), the Hong Kong-based operator of crypto exchange OSL. Founded in 2018, OSL claims to be the Hong Kong region’s most comprehensive… Read More

India’s Residents will Soon Have the Option to Submit Votes via Blockchain-enabled Platform

India’s residents will soon have the option to submit votes from outside their city of registration. The nation’s citizens will be able to use a blockchain-enabled platform to cast their votes. The Times of India reported on February 13 that Sunil Arora, the country’s chief… Read More

India’s Payments Giant Paytm Partners Uber to Add Credit and Debit Card Processing to Allow Users to Easily Settle Card Transactions

India-based Paytm, an established payment gateway, has teamed up with ride-hailing app Uber in order to add credit and debit processing and will allow customers to easily perform card transactions. Uber will use the existing digital wallet integration with Paytm’s platform to offer riders a… Read More

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