Asia

May 3, 2021 @ 10:47 pm By Omar Faridi  |  

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

May 3, 2021 @ 10:17 pm By Omar Faridi  |  

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

May 3, 2021 @ 9:37 pm By JD Alois  |  

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

May 3, 2021 @ 8:30 am By Omar Faridi  |  

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

May 3, 2021 @ 7:50 am By Omar Faridi  |  

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

May 2, 2021 @ 11:09 pm By Omar Faridi  |  

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

May 2, 2021 @ 10:07 pm By Omar Faridi  |  

Hong Kong-based digital banking challenger ZA Bank has revealed that it’s providing a financing guarantee facility of as much as HKD 18 million (appr. $2.32 million). The plan is referred to as the “ZME $18M Loan.” The new product is described as a business revolving… Read More

May 2, 2021 @ 7:27 pm By Omar Faridi  |  

China’s virtual yuan has been in development for the past 7 years (since 2014). Recently, Chinese officials had noted that Bitcoin (BTC) was not really a currency but they do think it’s a form of investment. Regulators in China are also eager to explore the… Read More

April 30, 2021 @ 11:14 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced a new grant program targeting Regulatory Technology or Regtech that is said to be an enhancement of the Digital Acceleration Grant (DAG) scheme to accelerate technology adoption.  In a public statement, MAS said it will commit S$42… Read More

April 30, 2021 @ 7:50 am By Omar Faridi  |  

UK-based MarketFinance, one of the world’s largest peer-to-peer (P2P) invoice finance platforms, notes in a blog post that Brexit and the COVID-19 outbreak have had “dramatic effects on the price of shipping.” MarketFinance adds that if your business uses suppliers that are based in other… Read More

April 29, 2021 @ 10:11 pm By JD Alois  |  

Zipmex, a Singapore-based digital asset exchange that operates in multiple countries, says it has processed Asia’s first purchase of a Lamborghini using cryptocurrency. According to a release, Jo Chirawat used Zipmex’s mobile app to put a downpayment in Bitcoin on a 2021 Huracán EVO RWD… Read More

April 27, 2021 @ 11:55 pm By Omar Faridi  |  

The Malaysia Co-Investment Fund (MyCIF) has reportedly made a co-investment of RM165 million (appr. $40.27 million) in 5,349 equity crowdfunding and peer-to-peer financing (P2P) initiatives, which aims to benefit 1,197 Malaysian MSMEs by the end of last year. Since its October 2019 launch, these Malaysia-based… Read More

April 27, 2021 @ 10:33 pm By JD Alois  |  

Mortgage Master, a mortgage brokering platform, has raised SG$928,000 in a Pre-Series A funding round, according to the company. The investment was led by Woon Young Jeong, along with existing investors, including Bala Swaminathan, former President of Westpac International and Founder of S Cube Capital,… Read More

April 27, 2021 @ 8:42 am By Samantha Hurst  |  

  Global accelerator program Plug and Play announced on Tuesday the launch of its new office in Seoul, Korea. Plug and Play reported its Korea division will primarily focus on corporate innovation in the areas of Financial Services (Fintech, Insurtech, and Health) and Smart Cities (Mobility &… Read More

April 27, 2021 @ 1:27 am By Omar Faridi  |  

MyMy revealed on Monday (April 26, 2021) that it has obtained conditional approval for a large scheme E-money license from Bank Negara Malaysia, the nation’s central bank. The Fintech firm is now planning to launch its digital wallet services in the coming year. Until all… Read More

April 27, 2021 @ 12:17 am By Omar Faridi  |  

Southeast Asia based StashAway, a digital wealth manager, is reportedly raising $25 million as part of its Series D funding round that is being led by VC firm Sequoia Capital India. StashAway’s current investors, Eight Roads Ventures, the international investment company supported by Fidelity International… Read More

April 26, 2021 @ 11:47 pm By Omar Faridi  |  

Mox Bank, the digital lending platform that’s backed by Standard Chartered, is reportedly planning to double its client base in 2021. Mox Bank has already managed to surpass 100,000 account holders within 8 months since its launch. This, according to company CEO Deniz Guven. As… Read More

April 26, 2021 @ 11:06 pm By Omar Faridi  |  

Uppsala Security, a provider of tools for Crypto AML, Risk Management, Regulatory Compliance, and Cybersecurity revealed on Monday (April 26, 2021) that with assistance from Bithumb, one of South Korea’s leading digital asset exchanges, it has helped a victim to “recover approximately 20 million KRW”… Read More

April 25, 2021 @ 2:17 pm By Xu Gao  |  

Fintech Companies Will Face Listing Restrictions on the SSE STAR Market  On April 16th, the China Securities Regulatory Commission (CSRC) published the revised edition of “STAR Market Property Evaluation Guidelines”. According to the amendments, Fintech companies will be classified as “restricted” category when it applies… Read More

April 24, 2021 @ 9:17 pm By Omar Faridi  |  

Saudi Arabia-based Tamara, a Buy Now, Pay Later (BNPL) service provider, recently confirmed that it finalized a $110 million Series A funding round led by Checkout.com. The funds raised will be used by Tamara to scale its professional team, expand into new markets in the… Read More