Asia

Japan Prosecutors Seeking 10 Years Imprisonment for Disgraced Mt Gox Bitcoin Exchange CEO, Mark Karpeles

Prosecutors in Japan today asked the courts to levy ten years imprisonment against Mark Karpeles, former CEO of Mt Gox, the largest early bitcoin exchange, Nikkei Asian Review reports. Mt Gox folded in 2014 after $423 million in bitcoins and $247 million in cash went… Read More

Robo.Cash Signs MoU with Inditrade Capital: Now Providing Short-Term Consumer Lending in India

Robocash Group and Indian financial company Inditrade Capital have signed a Memorandum of Understanding (MoU) to establish an independent NBFC business “Inditrade-Robocash” that will provide short-term consumer lending in India. The new company will provide personal financing and issue short-term loans to individuals ranging between USD… Read More

Korean Parliament Holding Special and First Ever Session Today to Discuss Cryptocurrency Exchanges

Members of South Korea’s Democratic, Liberal-Democratic and Right Future Party will hold their first debate on the subject of cryptocurrency exchanges today in the Korean parliament, local media outlet Hani reports. Cryptocurrency exchanges have been operating in Korea since 2013 and exchanges there are some… Read More

P2P Money Transfer Service Toss Gets Unicorn Status in $80 Million Funding Round

Korea based Viva Republica, creator of the peer to peer money transfer service Toss, has raised $80 million led by some pretty big names. VCs Kleiner Perkins and Ribbit Capital led the funding round. The investment has delivered unicorn status for the Fintech as the… Read More

Chinese Crypto Miner Favouring “Financial” Over “Factory” Approach in Current Bear Market

At least one Chinese cryptocurrency miner is taking a creative financial approach to surviving “Crypto Winter” -the bear market currently punishing crypto prices to some of their lowest levels in over a year, 8BTC reports. Jin Xin, for example, “an ordinary Chinese miner,” is taking a… Read More

Chinese Internet Court Claims It Will Use Blockchain to Protect Writers’ Intellectual Property

An “Internet court” in Hangzhou in Eastern China will soon allow evidence logged on blockchains (or distributed ledgers) to be admitted in cases of alleged infringement on a writer’s copyright, China.org reports. The Hangzhou court is one of three Internet courts recently established in China to… Read More

China: WeiyangX Fintech Review

Financial Authorities Ban STOs in Beijing On December 1st, at the 2018 Global Wealth Management Forum, Huo Xuewen, director of the Beijing Municipal Bureau of Financial Work, warned that STO activities in Beijing would be seen as illegal. He said: “A new concept called STO… Read More

Cornell Partners With Tsinghua For Third Annual Blockchain Workshop in China

Cornell University and Tsinghua University (清华大学) announced this week they have joined forces to host the International Workshop on Blockchain, which is set to take place in Xi’an, China.  According to the learning institutions, the event was made possible by a $150,000 grant from not-for-profit platform Social… Read More

Korean Fintech HonestFund Secures $12 Million Through Series B Investment Round

HonestFund, a Korean fintech startup, announced on Wednesday it secured $12 million through its Series B funding round, which featured investments from Dunamu & Partners, MurexPartners, KB investment, TL Asset Management, Bass Investment, and HB Investment. HonestFund total investment amount is now $21 million. Founded… Read More

North Korean Hackers Now Targeting Individuals’ Crypto Holdings

“One of the most formidable hacking armies in the world,” is now believed to be targeting the crypto holdings of individuals, particularly wealthy ones, The South China Morning Post (SCMP) reports. North Korean hackers have been identified by Group IB and others as the likely culprits behind… Read More

Beijing Municipal Finance Director Nixes Unlicensed Security Tokens Any Time Soon, Advises “Awe of Supervision”

At the end of a long speech about cultivating an honest and effective wealth management industry in China’s political and financial capital, Beijing, Huo Xuewen, nixed the idea ICOs (initial coin offerings) will be allowed to quickly morph into security tokens (STOs) anytime soon. According… Read More

Malta-Based Digital Asset Exchange OKEx Launches New Product “Perpetual Swap” to Crypto-Base Financial Suite

OKEx, a Malta-based digital assets exchange, announced on Monday the launch of its new product, Perpetual Swap, as part of its crypto-based financial product suites. According to OKEx, users may now perform perpetual swap, futures contract, and spot trading with margin and leverage at one stop. OKEx… Read More

Monetary Authority of Singapore Announces New S$30 Million Cybersecurity Capabilities Grant

The Monetary Authority of Singapore (MAS) announced on Monday the launch of a new S$30 million Cybersecurity Capabilities Grant to strengthen the cyber resilience of the financial sector in Singapore and help financial institutions develop local talent in cybersecurity. According to MAS, the Grant was… Read More

Evolution: HBUS Digital Currency Exchange Kicks Off Ironic Outdoor Advertising Campaign

HBUS, the digital currency exchange that is a sister company to Huobi – one of the largest crypto exchanges in the world, has launched an interesting promotional campaign that strives to highlight the fast-evolving securities markets with a jab towards Coinbase. As part of the campaign, HBUS… Read More

China: WeiyangX Fintech Review

Sesame Credit Accepted for Canadian Visa Application This week, the Canadian Immigration Department (IRCC) announced that Chinese tourists can choose to submit his/her Sesame Credit Visa report (≥750 points) as financial proof for Canadian visa application. Sesame Credit is credit-assessment service offered by Ant Financial,… Read More

Blockchain Zilliqa Testnet Adds Smart Contract Sharding, Schedules Mainnet for January 31st

Zilliqa, a blockchain project that is on a mission to provide a scalable, enterprise iteration of distributed ledger technology, has announced smart contract sharding with Testnet V3. This is the final testing phase before the mainnet is released, an event that is scheduled for January 31, 2019…. Read More

China’s Huawei Cloud Launches Blockchain Service

Huawei Cloud, a global provider of information and communications technology (ICT) infrastructure and smart devices, announced on Thursday it officially launched its Blockchain Service (BCS) for global use earlier this month, after launching the service for commercial use in China earlier this fall.  The company reported that the… Read More

Hong Kong Fintech Oriente Secures $105 Million Through Initial Funding Round

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Oriente, the Hong Kong-based financial services and technology company, announced earlier this week it secured $105 million through its initial funding round. The round included investment from the founders and a group of family offices such as members of the Berjaya Group, JG Summit Holdings, Inc., and Sinar Mas. The round ranks as one… Read More

KuCoin Teams Up With Simplex to Enable Credit & Debit Card Payments For Mainstream Crypto Users

KuCoin, a Singapore-based international cryptocurrency exchange, announced on Thursday it has formed a new partnership today with Simplex, an EU financial institution providing fraud-free payment processing solutions. According to KuCoin, the partnership will enable new as well as current KuCoin users worldwide to purchase crypto using their… Read More

Revolut Acquires Licenses to Expand in Japan & Singapore

Digital bank Revolut has acquired licenses to expand in Japan and Singapore. The launch in the Asian countries comes just after the fintech reportedly is planning to raise $500 million through its upcoming Series D funding round. According to CNBC, Revolut reported it received a remittance license… Read More

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