Asia

May 9, 2023 @ 10:05 pm By Omar Faridi  |  

PolicyStreet, an emerging regional insurtech company, has recorded exponential growth in FY22, with its topline growing by five times compared to the previous financial year (FY21) and attaining sum insured of more than USD 6 billion. Despite the challenging business environment in FY22, PolicyStreet claims… Read More

May 9, 2023 @ 9:56 pm By Omar Faridi  |  

Uppsala Security, a provider of award-winning security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance and Transaction Tracking has announced a partnership with CODE, a South Korean-based virtual asset service provider (VASP) compliance solution. As part of this partnership, CODE has “launched… Read More

May 9, 2023 @ 4:50 pm By Omar Faridi  |  

QistBazaar, a Pakistan-based Buy Now Pay Later (BNPL) Fintech, announces an equity and Shariah-Compliant embedded finance partnership with Bank Alfalah – one of Pakistan’s largest commercial banks. The partnership is “worth PKR 500 million (US$1.7m) , and includes Bank Alfalah taking a 7.2% equity stake… Read More

May 8, 2023 @ 11:21 pm By Omar Faridi  |  

Global payments provider Checkout.com has entered an agreement with Mamo, the fintech powering payments for SMEs across MENA, making Checkout.com the payments provider of choice for their flagship product Mamo Business. This deal further supports Mamo’s mission “to accelerate the growth of SMEs in the… Read More

May 8, 2023 @ 10:58 pm By Omar Faridi  |  

OCBC Bank (SGX: O39) will be ramping up its Digital Silvers program with the aim of upskilling 2,000 elderly customers from now until the end of the year. Given this ambitious target, the bank will “increase the frequency of its workshops from around twice a… Read More

May 8, 2023 @ 7:19 pm By Omar Faridi  |  

PT Bank Maybank Indonesia, Tbk. (Maybank Indonesia or the Bank) announced its Consolidated Financial Results ended 31 March 2023, “with Profit before Tax (PBT) increased by 33.3% to Rp750 billion from Rp562 billion last year.” This was “derived from improved earning on its assets composition… Read More

May 7, 2023 @ 2:59 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) has reportedly imposed on DBS Bank Ltd (DBS Bank) an additional capital requirement, “following the widespread unavailability of DBS Bank’s digital banking services on 29 March 2023 and a subsequent disruption to its digital banking and ATM services on… Read More

May 5, 2023 @ 9:55 pm By Omar Faridi  |  

Cashfree Payments and YES BANK have come together to offer ‘Global Collections’, an international collection service for exporters, “who are account holders of YES BANK.” Under this partnership, the Bank’s account holders will be “able to collect payments in over 30 foreign currencies using the… Read More

May 5, 2023 @ 8:21 am By Omar Faridi  |  

Tarabut Gateway, which claims to be one of MENA’s leading open banking platforms, announces the completion of a US$32 million Series A fundraise. The investment round was “led by Pinnacle Capital, a leading alternative investment firm that focuses on KSA investments to provide unique alternative… Read More

May 4, 2023 @ 10:41 pm By Omar Faridi  |  

Merchant commerce omnichannel platform, Pine Labs announced the acceptance of digital Rupee on its PoS terminals in partnership with ICICI Bank. The technology integration “between the two entities will now support e₹ (Digital Rupee) acceptance at Pine Labs‘ point-of-sale terminals across key retail outlets in… Read More

May 3, 2023 @ 10:21 pm By Omar Faridi  |  

ADIA Lab, the Abu Dhabi-based institute dedicated to basic and applied research in data and computational sciences, has partnered with CrunchDAO, a research team of data scientists leveraging Web3 and machine learning to produce next-generation financial insights, “to launch the ADIA Lab Market Prediction competition… Read More

May 3, 2023 @ 5:10 pm By Omar Faridi  |  

Paymentology, the global issuer-processor, announces a strategic partnership with Nomo Bank, which claims to be the world’s “first” fully digital Sharia-compliant cross-border bank. Nomo, part of the Bank of London and The Middle East (BLME), and backed by Boubyan Bank, “offers Middle East customers a… Read More

May 3, 2023 @ 5:06 pm By Omar Faridi  |  

Following the Investor and Marketplace Alert dated 12 April 2023 in relation to opnx.com (OPNX) conducting unregulated activity, Dubai’s Virtual Assets Regulatory Authority (VARA) has issued “a formal Letter of Reprimand to OPNX and its founders” for the following: Carrying out VA Exchange Services on… Read More

May 3, 2023 @ 1:23 pm By Omar Faridi  |  

Bitdeer Technologies Group (NASDAQ: BTDR), a technology company for the cryptocurrency mining community, and Druk Holding & Investments (DHI), the commercial arm of the Royal Government of Bhutan, announce a strategic partnership in order “to develop environmentally sustainable, carbon-free digital asset mining operations in the… Read More

May 2, 2023 @ 4:04 pm By JD Alois  |  

Temasek has taken the extraordinary step of refuting internet chatter that it has invested in Array. Array is an “omni-chain protocol for application-oriented decentralized asset management” that aims to create a “next-generation algorithmic currency system.” Temasek is a “generational investor” and global investment company headquartered… Read More

May 1, 2023 @ 9:50 pm By Omar Faridi  |  

Vietnam Technological and Commercial Joint Stock Bank (Techcombank)  announced a new partnership with Personetics, the firm focused on financial data-driven personalization and customer engagement for financial services, in order “to introduce artificial intelligence (AI)-powered money management capabilities.” The cost-of-living crisis “has been impacting consumers in… Read More

May 1, 2023 @ 9:43 pm By Omar Faridi  |  

Mr. Tharith Panpiemras, Assistant Governor of the Financial Institutions Policy Group, announced that after the Bank of Thailand (BOT) released the Virtual Bank Licensing Framework for public consultation “between January 12 and February 12, 2023, the BOT reportedly received questions and helpful feedback from stakeholders… Read More

April 30, 2023 @ 10:47 pm By Omar Faridi  |  

The Government of Singapore announced increases in the Additional Buyer’s Stamp Duty (ABSD) rates in order to support a sustainable property market. The revised rates will “take effect from 27 April 2023.” The implementation of the property market measures in December 2021 and September 2022… Read More

April 30, 2023 @ 5:20 pm By Omar Faridi  |  

Card payments in the Philippines are set to “grow by 10.1% in 2023 to reach PHP2.5 trillion ($45.3 billion) in 2023,” forecasts GlobalData, a data and analytics company. GlobalData’s Payment Cards Analytics reveal “that the card payments market in the Philippines registered a growth of… Read More

April 29, 2023 @ 12:20 pm By Omar Faridi  |  

Alchemy Pay now supports India’s UPI domestic transfer payments for crypto purchases in India. By enabling users to pay by Unified Payments Interface, India’s domestic transfer system, it is possible for Indian bank account holders “to buy and sell cryptocurrency with the Indian rupee.” As a… Read More