Asia

South Korean Enterprise Blockchain Developer Blocko Launches Operations in the UAE

Blocko, a South Korean enterprise-grade blockchain development firm, is launching its operations in the United Arab Emirates (UAE) after securing funding in Europe and the Asia Pacific region.  UAE’s financial hub, Dubai, announced the Emirates Blockchain Strategy 2021 in April 2018. The nationwide strategy involves… Read More

Varanium Capital to Raise $28 Million for Early Stage Fintech Venture Fund

Mumbai-based Varanium Capital, an asset manager that provides investment and consulting services to public and private businesses, is reportedly planning to raise ₹200-crore (appr. $28 million) for a Fintech-focused early stage venture capital fund. The Varanium NexGen intends to strategically invest around ₹2-5 crore (each),… Read More

Japanese Securities Firms Form Security Token (STO) Self Regulating Body

Representatives from Monex, SBI Securities, kabu.com Securities, Daiwa Securities, Nomura Securities and Rakuten Securities have formed the “Japan Security Token Offering Association” to self-regulate and advocate for security token offerings (STOs) in Japan. According to an announcement from Monex, “the Japan STO Association primarily works… Read More

Shortlist for Singapore Fintech Awards Revealed

The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have revealed the 40 finalists have been shortlisted for the Fintech Awards to be presented at this year’s Singapore FinTech Festival x Singapore Week of Innovation and Technology (SFF x SWITCH)…. Read More

Indonesia’s State-Owned Pawnshop PT Pegadaian to Invest $35 Million in Local Fintech Firms

The state-owned pawnshop PT Pegadaian in Indonesia is reportedly planning to invest Rp 500 billion (appr. $35.26 million) in several local Fintech firms this year. President director Kuswiyoto noted on September 30 that the investment would go toward funding the operations of five Fintech companies…. Read More

Korean Crypto Exchange Coinone Ordered to Compensate Customer Who Lost Funds in Hack

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Coinone, a popular cryptocurrency exchange in Korea, has been ordered by a judge in Seoul to pay 25 million won (~$20 780 USD) to a customer who had his exchange accounts drained in a hack. According to Chosun IT, this is Korea’s first case of a… Read More

Airpay Payment Services Forms Partnership with InstaReM

Mumbai-based Airpay Payment Services, a payments platform, has announced a partnership with InstaReM, one of the world’s fastest-growing digital cross-border payments companies. The new partnership will launch “FX Payment”, an international payments solution for its merchants. Airpay’s “FX payment” is an alternative to credit cards… Read More

China: WeiyangX Fintech Review

The CBIRC and PBC Jointly Release 2019 China Inclusive Finance Development Report On September 29th, the China Banking and Insurance Regulatory Commission (CBIRC) and the People’s Bank of China (PBC) jointly released the “2019 China Inclusive Finance Development Report ” (hereinafter referred to as the… Read More

Chinese Internet Giant Tencent Leads $10 Million Investment Round in AI and Machine Learning Firm SenSat

UK-based SenSat, a company that converts complex visual and spatial data into a real-time simulated reality that allows computers to find solutions to real-world problems, has raised $10 million through a Series A investment round, which was led by Shenzhen-based internet giant Tencent. Sistema Venture… Read More

Fintech Firm Grab’s Thailand Head Tarin Thaniyavarn Discusses Southeast Asia’s Financial Inclusion Challenges

Tarin Thaniyavarn, the country head for Fintech firm Grab’s Thailand division, points out that advancements in telecommunications and mobile technology allow users to perform and manage many different tasks from their smartphones. For example, we can book rides, order meals or groceries, and pay for… Read More

National Payments Corporation of India Requests Digital Payments Firm PhonePe to Add Another Banking Partner

The National Payments Corporation of India (NPCI) has requested Bengaluru-based digital payments firm PhonePe to work with another banking partner for its Unified Payments Service (UPI) model. PhonePe’s management has reportedly decided to work with Mumbai-headquartered multinational banking and financial services company ICICI Bank. According… Read More

Global Funding & Trading Platform Funderbeam Receives Financial Services License in Singapore

Fintech Funderbeam has received a financial services license from the Monetary Authority of Singapore (MAS). This means that Funderbeam will be able to provide funding options to the Singapore market thus representing a significant expansion from its European base. Singapore based Funderbeam Markets Pte Ltd…. Read More

Alibaba’s Ant Financial Partners With Bayer Crop Science to Develop Blockchain-based Agricultural Monitoring Product

Ant Financial Services Group, an affiliate company of the Chinese Alibaba Group (NYSE:BABA), is teaming up with Bayer Crop Science to create a blockchain-enabled platform for monitoring agricultural product. Ant Financial and Bayer Crop signed a letter of intent to leverage blockchain technology to develop… Read More

LexinFintech Appoints Suining Xiao to the Board of Directors

Chinese consumer financing platform LexinFintech announced on Monday it has appointed  Suining Xiao to its board of directors. According to LexinFintech, Xiao has been appointed as a designee of PAG, an Asia-focused private equity firm, in connection with PAG’s purchase of convertible notes from the… Read More

Southeast Asia’s Largest Online Travel Startup Traveloka Is Getting Into Fintech

Traveloka, the largest online travel startup in Southeast Asia, is planning to issue a credit card, called the PayLater card, via a partnership with PT Bank Rakyat Indonesia Persero Tbk, which will be connected to its booking services. Traveloka’s travel app aims to target users… Read More

Switzerland-based EST Group Is Planning to Invest $250 Million into Indian Fintech Firms

Switzerland-based EST Group announced on September 27 that it will invest $250 million in the next 18 months into various Indian Fintech companies. EST Group said in a release that it is very bullish about the Indian market due to great potential for new opportunities…. Read More

Mastercard is Piloting Digital Payments for Garment Factory Employees With Levi’s and Marks & Spencer

Mastercard has announced the launch of a pilot program that involves helping garment factory workers transition from using cash to receiving digital wage payments. Sue Kelsey, executive vice president, prepaid solutions, Mastercard, stated in a press release: “At Mastercard, our vision is to ultimately build… Read More

Shares of China’s Fintech Firms Are Surging As Investors Prepare for Launch of National Digital Currency

Shares of Chinese Fintech firms are surging as the nation’s investors prepare for the upcoming launch of a national digital currency. China’s new internet-based currency is expected to increase demand for related security and payment services. The CSI Fintech theme index, an index that tracks… Read More

94% of Fintech Firms in Singapore Are Looking for Skilled Fintech Professionals

Most, or 94%, of the financial services firms based in Singapore are looking for skilled Fintech professionals, according to survey data from local jobs and recruitment site Michael Page Singapore. Nilay Khandelwal, managing director at Michael Page Singapore, noted: “With the Fintech landscape in Singapore… Read More

Crypto.com’s Pay Checkout Plugin Is Now Available For 500,000 WooCommerce Merchants 

Hong Kong-based cryptocurrency platform Crypto.com announced on Thursday the launch of its Pay Checkout plugin for e-commerce platform, WooCommerce. According to Crypto.com, the plugin enables merchants to accept cryptocurrency, and may instantly convert to fiat currencies of choice for merchants. “Powered by the Crypto.com’s PCI:DSS… Read More

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