Asia

China: WeiyangX Fintech Review

Insurtech Firm Waterdrop Starts Trading on New York Stock Exchange  On May 7th, Waterdrop Inc., China’s leading insurance and healthcare service technology platform, went public on New York Stock Exchange. Founded in 2016, Waterdrop has built an online insurance marketplace (“Shuidibao”) and a medical crowdfunding… Read More

Enterprise Grade Blockchain IOST Partners Moonstake to Support Crypto Staking of IOST Coin

IOST has teamed up with Moonstake in order to support staking functionality for IOST coin on Moonstake wallets. Moonstake began offering services in the staking business in 2020 with the goal to develop the biggest staking network in Asia. Since that time, Moonstake claims it… Read More

GHL Systems to Offer Flexible Payment Options in ASEAN Region with Visa Instalments

GHL Systems has teamed up with payments giant Visa (NYSE:V) in order to become the first in the ASEAN region to offer Visa Instalments for customers using the eGHL Payment Gateway platform. Visa Instalments works by turning pre-approved issuer credit lines into installment payment options… Read More

Arab Monetary Fund Releases Fintech Index, a Measure of Financial Tech Adoption in Middle East

The Arab Monetary Fund, which aims to establish policies of Arab monetary cooperation and promote the development of Arab financial markets, has launched “Finxar,” which is a regional Fintech index for tracking the development of the financial technology industry in Arab nations. The United Arab… Read More

South Korean Crypto Exchange Streami Gets Strategic Investment from digital Currency Group

Streami has received a strategic investment from the Digital Currency Group (DCG), according to a release. Streami is based in South Korea and operates GOPAX, a crypto exchange. DCG is said to be the second-largest investor in Streami and previously participated in the Series A… Read More

Digital Transformation: 68% of Singapore Consumers Prefer All-Digital Channels when Engaging with their Bank during Financial Hardship

During the past year, firms have been focused on accelerating their digital transformation strategies in order to maintain operations in a post-COVID environment. Their investments in digital technology have been essential to retaining business and clients. Companies now require the tools to conduct business remotely,… Read More

Revere VC Raises $1.35 Million Seed Round, Launches Curated VC Platform – “the Portal”

Revere VC, a San Francisco and Hong Kong-based asset management firm, has closed on a $1.35 million seed round. Simultaneously, Revere said it had launched its flagship product called “the Portal”  – a curated VC platform and a fund – “the Prime Access Fund.” Revere… Read More

Global Payments Fintech Adyen Acquires Approval from MAS to Perform Merchant Acquistion Services in Singapore

Adyen (AMS: ADYEN), a global payments solution provider, reveals that its Singapore-based business entity has managed to acquire approval from the Monetary Authority of Singapore (MAS). The permit will allow Adyen to perform merchant acquisition services under the Payment Services Act 2019 (PSA). Effective from… Read More

Uppsala Security Conducts First Virtual Assets AML Training Program for South Korean Government Agency Compliance Officers

Uppsala Security has reportedly conducted the very first “Virtual Assets AML Training Program” for partners and government agency compliance officers. Uppsala Security, the provider of tools for Crypto Risk Management and Cybersecurity, revealed on May 4, 2021, that it has begun its Virtual Assets AML… Read More

Indonesian P2P Lender Amartha Acquires $28M in Capital from Women’s World Banking Capital Partners II, MDI Ventures

Indonesian peer to peer lender Amartha has acquired $28 million (appr. IDR 405 billion) in capital from Women’s World Banking Capital Partners II (WWB) and MDI Ventures. Amartha‘s round also received contributions from existing investors Mandiri Capital Indonesia and UOB Venture Management. WWB Capital Partners… Read More

Indonesia based Bibit, a Digital Investment App Provider, Secures $65M via Round led by Sequoia Capital India

Indonesia-based Bibit.id, a digital investment app provider, has reportedly secured $65 million in capital via a round led by Sequoia Capital India. Bibit’s investment round was also joined by Prosus Ventures, Tencent and Harvard Management Company. Existing investors AC Ventures and East Ventures also took… Read More

The Bank of Thailand Publishes Paper on Central Bank Digital Currencies: The Way Forward

The Bank of Thailand has published a paper on central bank digital currency (CBDCs) entitle the Way Forward for Retail Central Bank Digital Currency in Thailand. Thailand has been a fairly innovation-friendly nation in regards to Fintech. Several years ago, Thailand participated in Project Inthanon,… Read More

Fintech Ant Group Affiliate MYbank Is Planning to Expand Operations in China to Serve More Rural SMEs

China-based MYbank, an online private commercial bank and an affiliate of the Ant Group with a special focus on working with rural areas and SMEs, has revealed that it will be doubling the number of rural counties it serves in the coming years. MYbank and… Read More

Ping An Insurance Group Remains Commmitted to Finance and Tech Strategy as it Receives Most Valuable Insurance Brand Award

Ping An Insurance has reportedly been named the most valuable insurance brand in the world in the Insurance 2021, 100 Ranking, which is a spot that the company has maintained for the 5th consecutive year. Brand Finance, a brand valuation consultancy firm, valued the Ping… Read More

Short-Term Debt Instrument Issued as Digital Securities by iSTOX and CGS-CIMB Securities International

CGS-CIMB Securities International, an integrated financial service provider based in Asia, and digital securities platform iSTOX have reportedly issued a short-term debt instrument as digital securities. The SGD 150-million (appr. $112-million) multi-tranche commercial paper will be used to cover operational costs and near-term obligations of… Read More

China’s Fintech Crackdown Continues as Authorities Call ByteDance, Tencent, Baidu, JD.com, Others into Meetings

Authorities in China have reportedly told 13 of the nation’s largest tech firms to “rectify prominent problems” on their platforms, according to a recent report. These developments appear to be a sign that China continues to increase its regulatory scrutiny and pressure of its Fintech… Read More

Hong Kong based Amber Group Adds New Retail Investment Features

Amber Group, a crypto trading platform, has added new features for its retail-facing Amber App. According to the company, the features are designed to help users achieve optimal investment returns through interest rate products, yield enhancement, and risk management tools. Amber was founded in 2017… Read More

Bhavik Vasa: CEO at Asian Revenue-based Financing Fintech GetVantage Says Startups Should Focus on Sustainable Growth

We recently caught up with Bhavik Vasa, founder and CEO at GetVantage, which is India and Southeast Asia’s first revenue-based financing Fintech platform. Vasa talked about the different challenges entrepreneurs face as they work on developing new products and services. Vasa explained how GetVantage‘s unique… Read More

Cross-Border Payments Fintech Wise Now Offering Hong Kong Residents Option to Send Money Using Only Mobile Phone Numbers

UK-headquartered Fintech firm Wise, previously doing business as TransferWise, has introduced a feature allowing Hong Kong residents to receive money from overseas by simply using their cell phone number (through the Faster Payments System or FPS). With this new feature from the cross-border Fintech Wise,… Read More

Philippines based Digital Bank Tonik Reports $20M+ in Deposits in Less than A Month After Launch, Announces Partnership with PESONet

Earlier this week, Philippines based digital bank Tonik partnered with PESONet in order to support safe and secure digital fund transfers to its account from other banking service providers. Tonik clients now have the option to send money from a PESONet participating bank directly to… Read More

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