Asia

Singaporean Government Driving QR Code Payment Methods

QR codes are helping Singapore continue on its road to a cashless society, data and analytics company GlobalData believes. Blessed with a strong payments infrastructure system, Singapore has both POS and QR code payment capability, and the latter is becoming a more trusted and preferred… Read More

Digital Banking: Malaysia based Fintech Jirnexu to Work with Five Local Entities Seeking Virtual Bank License

Malaysia-based Fintech firm Jirnexu reveals that it has entered into partnership agreements with over five consortia as they apply for a virtual banking license. They stated that with Jirnexu’s client base and a solid understanding of their financial requirements via RinggitPlus.com, the digital banking license… Read More

Southeast Asia Super App GrabPay Extends Partnership with Fintech Adyen to Enable Flexible Payment Options

Southeast Asia’s Grab, the developer of a Super App, has decided to extend its partnership with Adyen (AMS: ADYEN), a leading payments platform, in order to enable merchants in Singapore and Malaysia to provide BNPL payment options. Available via the GrabPay wallet, merchants can offer… Read More

Indian fintech BharatPe to raise $175 mn debt, offers super-bikes to new hires

Indian fintech BharatPe plans to raise around USD 175 million or INR 1,300 crore in debt, according to a news report by Entrackr. Founded in 2018 by Ashneer Grover and Shashvat Nakrani, BharatPe is a merchant-payments and lending solutions provider. Since its inception, the company… Read More

UK’s Embedded Finance Fintech Railsbank Now a Visa Ready Banking Identification Number Sponsor

Railsbank, an established global embedded finance solution provider, and Visa (NYSE: V) are joining forces to promote local Fintech services, with Railsbank becoming a Visa Ready Banking Identification Number (BIN) sponsor. This, according to an update shared by Finextra. Through the BIN sponsor program, all… Read More

Bitcoin Mining Economics Improve in BTC Terms, but Weaken in USD Terms, Hashrate Might have Bottomed: Report

The team at BitOoda, a global digital asset financial technology & services platform providing next-gen risk management solutions, best-execution brokerage & expert market analysis, has released their Weekly Hash Report, dated July, 19 2021. As noted in the report from BitOoda, hashrate or the amount of… Read More

Indian Fintech Pine Labs Appoints PayPal’s Rangarajan as its Head of Engineering

India’s leading payment gateway Pine Labs has appointed Rangaprasad Rangarajan as the Head of Engineering – Online Payments. The company aims to build an offline-to-online strategy with recent US $600 million fundraisings besides developing world-class payment gateway services to help merchants make a winning omnichannel… Read More

PensionTech pinBox Raises Seed Funding to Provide Micro-Pension for Needy

pinBox, a global PensionTech working towards providing digital micro-pension and social security inclusion, has raised $ 1 million in funding from Venture Catalysts (Vcats), an integrated incubator, along with accelerator fund 9unicorns. Founded in 2016 by industry veterans Parul Seth Khanna and Gautam Bhardwaj, pinBox… Read More

China: WeiyangX Fintech Review

Alibaba Establishes Digital Agricultural Subsidiary According to information from Tianyancha, Alibaba Digital Agriculture (Shandong) Co., Ltd. was established on July 12th, with a registered capital of 10 million yuan. This company is a fully owned subsidiary of Alibaba (Shanghai) Co., Ltd. Its business scope includes… Read More

Education Loans Facilitator Credenc Receives $25 Million from Capital India

Capital India, a financial conglomerate, has invested USD 25 million in a mix of equity & debt in Credenc, a fintech-focused on education loans. With this investment, Credenc is looking to build a loan book of $400 million by 2025.  The New Delhi-based Credenc, founded… Read More

Indian Fintech Razorpay Acquires TERA Finlabs to Strengthen Underwriting and Collections

Indian fintech firm Razorpay has acquired a lending startup TERA Finlabs for an undisclosed amount. TERA Finlabs, based in Bengaluru in India, is a subsidiary of UK-based digital lender Gain Credit. It provides technology-based solutions, such as risk management, customer onboarding, verification, underwriting, and collections,… Read More

Visa Reports Strong Cashless Payments Adoption in Southeast Asia along with Rise in Online Shopping Post COVID

Visa (NYSE:V) notes in a comprehensive report that the past year and a half has been quite challenging for many individuals and businesses, with the global COVID-19 pandemic “vastly changing the way we live, work and shop.” Visa has released a detailed report in which… Read More

UK’s Open Banking Fintech TrueLayer Appoints Tilen Chetty, Dan Gaskin to Focus on APAC Expansion

TrueLayer, the global Open Banking solution provider, reveals that it has hired technical professionals in Australia in order to expand operations in the APAC region. Tilen Chetty will be joining TrueLayer in Sydney as Product Lead and Dan Gaskin will be working out of the… Read More

Philippines based BaaS Fintech Netbank Partners Alternative Lenders so their Platforms Can Expand Operations

Philippines-based Netbank has now partnered with several alternative lenders so that the lending platforms can expand their operations without having to acquire additional funding. Netbank, the first Southeast Asia-based banking as a service (BaaS) platform operating via a bank license, is reportedly working closely with… Read More

Binance Exits Stock Token Trading

Digital assets are inclusive of securities, commodities, utilities, and all of the above. For crypto exchanges, the ability to trade security tokens makes sense – if you are fully compliant. Yesterday, the world’s largest crypto exchange Binance announced it will no longer support stock tokens…. Read More

Hong Kong Securities and Futures Commission Says Binance Security Token Offerings are Unregulated Activity

The Hong Kong Securities and Futures Commission (SFC) has issued a notice that Binance may be offering stock token offerings to Hong Kong investors. The SFC stated that Binance is not licensed to offer regulated activity in Hong Kong. Binance has recently been the target… Read More

Saudi Arabia based Fintech Geidea, which Supports Small Businesses, Appoints Nick Ogden to its Board of Directors

Geidea, one of the largest Fintechs in Saudi Arabia in terms of market share, has reportedly appointed the global financial services and Fintech-focused professional Nick Ogden to the company’s Board of Directors. Geidea’s management states: “Supporting small businesses to succeed is at the heart of… Read More

Insurtech: Hong Kong’s Digital Insurance Firm Blue Launches New Outpatient Plan

Hong Kong-based digital life insurance firm Blue has confirmed the launch of its WeMedi Top Up (Outpatient) Protector, which is a top-up outpatient plan offered as part of the digital life insurance market. As noted by its management: “Blue is Hong Kong’s first digital life… Read More

Venture Unit of Thailand’s SCB Announces New DeFi Investment through Aggregator, Portfolio Dashboard, Ape Board

SCB 10X, the venture division of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has confirmed its most-recent investment into the decentralized finance (DeFi) space through asset aggregator and portfolio dashboard provider, Ape Board. The firm, which currently has over 350,000 users, acquired within 4… Read More

Hong Kong’s Digital Tech Park Cyberport Confirms HKD 14.87M Investment into Four High-Potential Startups

Hong Kong’s digital technology park Cyberport confirms that it has invested HKD 14.87 million (appr. $1.92 million) into the operations of four of the startups in its network. The companies include Lynk, Rice Robotics, Dash Living and Hex Trust. These investments have been made during… Read More

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