Asia

Why P2P Lending is a Primary Investment Opportunity

The Fintech space has seen significant investment growth in recent years. Out of 310 private companies valued at over US$1 billion globally, 10 percent are in the Fintech sector, according to CB Insights. Only two other sectors claim a larger share of the unicorn pie,… Read More

China: WeiyangX Fintech Review

Insurtech Platform Shuidi Completes RMB 1 billion C Round of Financing led by Boyu Capital On June 12th, China’s leading Insurtech platform Shuidi (meaning waterdrop in English) was reported to secure RMB 1 billion in C round of financing. The investment was led by Boyu… Read More

Korean Marketplace Lender PeopleFund Raises $35 Million

PeopleFund, a South Korea based online lender, has raised $35 million as part of an extension of a Series B funding round which was announced in October 2018.  PeopleFund is a marketplace lending platform which means it accepts investments from both individuals and institutions. PeopleFund… Read More

Wirecard Enables E-Commerce Channel For IKEA Thailand’s Online Store

Germany-based global provider of digital payments and commerce solutions Wirecard announced this week it is now enabling the e-commerce channel for the IKEA Thailand’s online store. Wirecard reported that through the partnership, it ensures “smooth” digital payment transactions for IKEA Thailand and enables customers to conveniently… Read More

Crypto Bank BabelFinance Reports Lending has Topped $124 Million, Predicts $1 Billion in Issued Loans by the End of the Next Crypto Bull Run

Beijing-based BabelFinance, formerly doing business as BabelBank, has issued a release stating crypto backed loans are booming. Since opening in 2018, BabelFinance has originated more than $124 million in crypto backed loans. According to a note from the company, BabelFinance expects to hit “$1 billion… Read More

Philippine Central Bankers Cautious Regarding Bitcoin and Cryptocurrencies

Philippine Central Bank (Bangko Sentral ng Pilipinas or BSP) personnel urged caution regarding the use of cryptocurrencies this week and promised to continue to address the risks posed by them, The Philippine Star reports. Governor Benjamin Diokno said he is wary of cryptocurrencies given that they… Read More

BDO Australia Offers Audit Services to Blockchain Sector in a Move that May Attract More Institutional Investors

BDO Australia has formed a partnership with Decentralised Capital to provide auditing and assurance services to the blockchain and crypto asset sector. The move was described as likely to boost institutional interest in the emerging sector of Fintech. Decentralised Capital is a specialist blockchain firm… Read More

G20 Finance Ministers Affirm Amended FATF Guidelines for “Crypto Assets” in Fukuoka, Say They’ll Be Adopted in Osaka

Finance Ministers from the world’s 20 most powerful economies have “…reaffirm(ed) (their) commitment to applying the recently amended FATF Standards to virtual assets and related providers for AML (anti-money laundering) and CFT (anti-terrorist finance),” in a communique issued from a meeting they held this weekend… Read More

Zilliqa Blockchain Launches Smart Contract Functionality

Aspiring Ethereum replacement Zilliqa has launched smart contract functionality on its blockchain platform. Zilliqa is one of a handful of blockchain platforms seeking to address shortcomings in the sector. Zilliqa using sharding to speed up its transactional rate – a priority for many potential blockchain… Read More

Hong Kong Fintech Update

Invest Hong Kong Appoints New Head of Fintech King Leung has been appointed Head of Fintech at InvestHK which took effect in early May. Leung will lead a specialist Fintech team with the objective of attracting top innovativeFfintech companies, entrepreneurs, investors, accelerators and R&D institutions… Read More

Securities Commission Malaysia Approves Three Digital Asset Exchanges

The Securities Commission Malaysia (SC) has approved three digital asset exchanges as “Recognized Market Operators” (RMOs) to establish and operate digital asset exchanges (DAX) in Malaysia. Malaysia is known for its support of Fintech innovation in general and recently updated online capital formation rules to… Read More

Proposed Law in India to Impose 10-Year Sentences for the Use, Trading or Production of Cryptocurrencies while Proposing Digital Rupee

Details emerging about a proposed bill to ban cryptocurrencies indicate that things have gone from bad to worse for the cryptocurrency sector in India. According to Bloomberg Quint, if passed, new proposed legislation to cover the crypto sector will impose 10-year sentences on individuals possessing,… Read More

“Virtual Asset” Industry Reps Holding “V20” Summit to Coincide with G20 Osaka Meeting

Leaders from the 20 most powerful economies in the world may discuss creating a global regulatory framework for “crypto assets” at their forthcoming meeting in Osaka in June (G20 2019 Japan), and “Virtual Asset Service Providers” (VASPSs) are holding their own concurrent meeting (V20), “…to deliver… Read More

Algorand Foundation Schedules Dutch Auction for Native Algo Tokens

The Algorand Foundation has announced its Dutch Auction will take place on June 19th. The Foundation said this will be the first of a series of auctions for the Algo the native token of the Algorand platform. The Algorand Foundation has a vision of a… Read More

Report: Former Bitmain CEO Working to Create “Biggest OTC (Crypto) Desk…Overnight”

Jihan Wu, departed CEO and co-founder of the world’s largest crypto-mining hardware producer, Bitmain, will launch an OTC cryptocurrency custody and trading desk called Matrix within a month, sources to  The Block report. The unnamed commenters also believe the exchange will have a tremendous advantage in… Read More

Reviled Former Mt. Gox Bitcoin Exchange CEO Founding New Tech Venture

Mark Karpeles, the man whose incompetence many believe resulted in the destruction of early Bitcoin-exchange Mt Gox and the loss of almost $500 million USD of Mt Gox user funds, is starting a new “blockchain” venture, AP News reports. Karpeles recently beat tremendous odds and… Read More

Perspective: Why it’s Time to Ask Your Wealth Manager About P2P Lending

Peer-to-peer (P2P) lending is a form of crowdfunding, a method of raising capital that is nowadays often facilitated via the internet. Rather than rely on large amounts of funding from a handful of entities, crowdfunding uses small investments from a large pool of individuals. For… Read More

NASDAQ Listed Phunware Announces Duel Token Structure, One for Securities, Second for Medium of Exchange

Phunware, Inc. (NASDAQ: PHUN), a cloud platform for mobile that provides solutions and services for brands worldwide, has announced the introduction of the “Phun utility token”. Not too long ago, Phunware issued PhunCoin security tokens. Phunware sold part of the issuance using CoinList’s compliance services… Read More

BitMEX Invests in Philippine Cryptocurrency Exchange PDAX

BitMEX Ventures, the investment arm the BitMEX crypto exchange (HDR Global Trading Ltd), has invested in Philippine Digital Asset Exchange (PDAX), a cryptocurrency exchange based in the Philippines. Terms of the investment were not disclosed. In a release, BitMEX said its investment will help strengthen… Read More

Ministers at Forthcoming G20 Summit in Japan to May Create Global Cryptocurrency Exchange Registry

Finance Ministers and Central Bank Governors from the globe’s twenty most powerful economies are “expected” to collaborate on creating a global registry of cryptocurrency exchanges when they meet at the G20 Conference in Fukuoka, Japan, in June, Nikkei Asian Review (NAR) reports. G20 government personnel meeting… Read More

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