Asia

South Korea’s Financial Services Commission and Reserve Bank are Reportedly Arguing Over Adoption of New Fintech Regulations

South Korea’s Financial Services Commission (FSC) has proposed several legislative updates that could potentially give it more control over payment settlements in the Fintech sector. The Bank of Korea (BOK), the nation’s central bank, has stated that these proposed guidelines would create redundant regulations. As… Read More

OKEx says Withdrawals to Recommence Following Concerns of Security Breach

Crypto spot and derivative exchange OKEx reports that withdrawal services of all digital assets will be resumed on or before Nov. 27, 2020. Before reopening withdrawals, the OKEx team is conducting security checks in order to resume normal operations of the hot wallet system. OKEx… Read More

Noted Fintech VC QED Investors Expands into Southeast Asia

Prominent Fintech venture capital firm QED Investors has announced an expansion into Southeast Asia. It already invests in early-stage Fintechs in the U.S., U.K. and Latin America. Fintech in Asia has experienced a boom in early-stage ventures and while investments may ebb and rise it… Read More

India’s ICICI Bank Launches All-Digital Mode of Payment that Will Support Flexible Purchasing Plans

India-based banking group ICICI Bank has launched an all-digital mode of payment at major retail stores. Referred to as the “ICICI Bank Cardless EMI” (Equated Monthly Instalments), the facility allows thousands of the bank’s pre-approved customers to purchase their favorite gadgets or home appliances simply… Read More

ORIX Corporation Invests $60 Million into OurCrowd, Will Collaborate on Financial Products

Leading global online investing marketplace OurCrowd has received a $60 million investment from ORIX Corporation (NYSE:IX). Orix is a Japan based financial services firm that offers lending, investment, life insurance, banking, asset management, real estate, and more. ORIX operates globally with offices in 37 countries… Read More

FATF Travel Rule Solution Sygna Bridge Completes Assessment by Association of Cryptocurrency Enterprises and Startups, Singapore

Sygna Bridge, the “market-ready” solution developed for Virtual Asset Service Providers (VASPs) to fulfill the Financial Action Task Force (FATF) Recommendation 16’s “Travel Rule,” has reportedly become the very first FATF Travel Rule solution to go through an independent assessment by The Association of Cryptocurrency… Read More

China’s Public Blockchain Network Nervos Launches sUDT Token Standard to Compete with Ethereum ERC-20

China-based Nervos, a major public blockchain-based network, has reportedly launched its own token standard, sUDT (Simple User-Defined Token), in order to compete with Ethereum’s widely-adopted ERC-20 standard. As mentioned in a release shared with Crowdfund Insider, the sUDT standard will allow blockchain or distributed ledger… Read More

Indian Fintech U GRO Capital, an Online Lending Platform for SMEs, Reports Over $2 Million in Net Profit for Current FY

Indian Fintech U GRO Capital, an online lending platform for SMEs, has released its Q2 FY21 financial results and posted a (profit after tax) PAT of INR 17.2 Crores (appr. $2.28 million). The BSE (formerly called Bombay Stock Exchange) stock exchange-listed, technology-focused platform noted that… Read More

Singapore based Fintech 360F and Zurich Middle East Introduce Solution for Digitizing Entire Financial Process

Singapore based Fintech firm 360F and Zurich Middle East have introduced a “pioneering” and “deeply innovative” solution, called ZurichPro, which aims to digitize the financial planning process, and will help Zurich with meeting its business sustainability goals and objectives. Walter Jopp, CEO of Zurich Middle… Read More

Global Payments Platform Adyen to Expand Business Operations into Middle East, Launches Dubai Office

Global payments platform Adyen (AMS: ADYEN), which claims it’s the platform of choice for many of the world’s largest businesses, has announced that it would be expanding its operations into the Middle East region. Adyen’s management noted that they aim to support the momentum of… Read More

Singapore’s Propine, a Regulated Digital Asset Custodian, Partners Skyhook Capital, a Fintech SaaS Platform

Singapore-based Propine, an independent and regulated digital asset custodian, has partnered with Skyhook Capital, the Singapore-headquartered Fintech (software-as-a-service) SaaS platform that offers access to digital securities that may be incorporated within investors’ traditional wealth portfolios. According to a release shared with Crowdfund Insider, the partnership… Read More

President at Indian Digital Payments Giant Paytm Says Company Is “Super Comfortable” Despite Competition from Fintechs

Madhur Deora, President at Paytm, a major digital payments company, says that there’s no doubt that India is a leading technology market. Deora, whose comments came during a recent CNBC interview, states that it’s only natural that there will be a lot of competition from… Read More

Outsourcing Cloud Tech Requirements Allows Fintechs to Focus on Core Business, According to Phillip Liu from Alibaba Cloud Intelligence

Phillip Liu, GM at Alibaba Cloud Intelligence for the MENA region, recently commented on what’s required for regional Fintech firms to succeed in an increasingly competitive global environment. Fintech platforms are beginning to transform the traditional financial services sector. Fintech companies have developed solutions to… Read More

Hong Kong Crypto Platform Crypto.com Releases Polish Version of Mobile App & Exchange

Just days after announcing the Turkish version of its mobile crypto app and exchange, Hong Kong-based Crypto.com announced the platform’s Polish version. With the Turkish and Polish version platform will now support French, Spanish, Korean, Italian, Portuguese, and Chinese. As previously reported, Crypto.com serves more… Read More

Former Tencent Exec and Huobi Co-Founder Du Jun Returns, Says Crypto Exchange Remains Focused on Compliance

After a three-year leave, co-founder Du Jun has returned to Huobi, a leading cryptocurrency exchange that reported $877.88 billion in trading volume during H1 2020. Jun had left Tencent and founded Huobi with Leon Li back in 2013. But then a few years later in… Read More

James Lee from Mizuho Securities Says Fintech Is More Important than Gaming for Tencent’s Long-term Business Strategy

James Lee, Internet Analyst for US and China at Mizuho Securities, has said that both gaming and the Fintech sector will be important for Tencent and will continue to play a key role in the global economy, especially in a post COVID world. Lee, who… Read More

Pavel Bains: CEO at Bluzelle Networks Explains how Decentralized Applications Can Provide More Robust and Reliable Financial Infrastructure

We recently caught up with Pavel Bains, CEO at Bluzelle Networks, a company and platform that aims to develop fast, adaptive, and agile distributed ledger technology (DLT)-based solutions for the finance sector. Bains talked about the challenges associated with working on centralized platforms. He discussed… Read More

Chinese Official Says Country Must Ensure Financial Innovation Maintains Fair Competition and Doesn’t Create Oligopolies

China must ensure that financial innovation is able to maintain fair competition and doesn’t lead to the formation of oligopolies or entry barriers, according to Xiao Yuanqi, chief risk officer at the China Banking and Insurance Regulatory Commission (CBRIC). Xiao, whose comments came during the… Read More

China: WeiyangX Fintech Review

China Releases Draft Version of “Online Micro-loan Operations Provisional Administrative Measures” On November 2nd, the People’s Bank of China (PBC) and the China Banking and Insurance Regulatory Commission (CBIRC) jointly released the draft version of “Online Micro-loan Operations Provisional Administrative Measures” (hereinafter referred to as… Read More

Checkout.com Data Reveals Digital Payments in MENA Region and Pakistan have Nearly Doubled after COVID

A report released earlier this week by Checkout.com reveals that digital commerce and online payments are on track for major growth next year. Internal Checkout.com data indicates that digital payment transfers have almost doubled in the MENA region since the beginning of the COVID-19 outbreak…. Read More

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