Asia

February 17, 2021 @ 10:33 pm By Omar Faridi  |  

Digital banking platform Revolut has launched a financial app that has been developed specifically for kids. The Fintech app is controlled by the child’s parent or their legal guardian so that they are able to monitor how the tools are being used. This new app… Read More

February 17, 2021 @ 8:06 pm By Omar Faridi  |  

Malaysia-based Tranglo, a cross-border payment firm, has established four new payment channels that are connected to financial networks in Brazil, Ghana, Nigeria, and Uganda. The payment corridors mark the Fintech firm’s first entry into Sub Saharan Africa and Latin American (LatAm) regions. Tranglo’s management stated… Read More

February 17, 2021 @ 7:05 pm By Omar Faridi  |  

Global digital bank Zolve has secured $15 million in capital through a seed funding round that was led by Accel & Lightspeed. Others who took part in Zolve’s investment round include Blume Ventures and several angel investors: Dr. Ashish Gupta (ex-Helion MD), Greg Kidd (angel… Read More

February 17, 2021 @ 3:58 pm By JD Alois  |  

The US Department of Justice has announced an indictment of three North Korean hackers said to be involved with the Korean military regarding   to cyberattacks and financial including theft of money and cryptocurrency.  The indictment is an expansion of a 2018 case outlining similar nefarious… Read More

February 16, 2021 @ 8:58 pm By Omar Faridi  |  

If we ask people to name their “best” or “worst” year ever, their answers might differ, RazorPay notes. However, if we want them to arrive at the “most-common answer” (in terms of unprecedented challenges due to COVID-19), then last year’s pandemic would probably be it,… Read More

February 16, 2021 @ 6:26 pm By Omar Faridi  |  

The Financial Services and the Treasury Bureau (FSTB) in Hong Kong had announced last month that the Fintech Proof-of-Concept Subsidy Scheme (PoC Scheme) will be opening for applications from February 26, 2021. According to a release, the PoC Scheme has been introduced to encourage traditional… Read More

February 16, 2021 @ 1:35 pm By JD Alois  |  

Technicorum Holdings has announced that Daniel Daboczy, c0-founder of international crowdfunding platform FundedByMe, has been selected as their new Chief Executive Officer (CEO). Daboczy announced that he was stepping down as CEO of FundedByMe back in November of 2020. Technicorum Holdings, based in Singapore, is… Read More

February 15, 2021 @ 10:11 pm By Omar Faridi  |  

The Small Industries Development Bank of India (SIDBI) and Equifax (NYSE: EFX) have released the second edition of “Fintech Pulse,” a quarterly publication that covers major trends in the fast-growing NBFC (Non- Banking Financial Company) Fintech segment. “Fintech Pulse” plans to offer key insights on… Read More

February 15, 2021 @ 9:07 am By JD Alois  |  

Last November, Hong Kong kicked off a consultation pertaining to anti-money laundering (AML) and counter finance terrorist (CFT) regulation that will impact cryptocurrency exchanges or virtual asset service providers (VASPs). The deadline for comments delivered to the Hong Kong Financial Services and the Treasury Bureau (FTSB),… Read More

February 14, 2021 @ 6:38 pm By Omar Faridi  |  

Karachi-based Fintech firm Safepay has reportedly acquired seed funding from global financial technology company Stripe. Safepay hasn’t disclosed the amount it has received but claims that it’s a seven-figure (USD) amount. Other local and international investors also took part in the Pakistani Fintech firm’s investment… Read More

February 14, 2021 @ 5:28 pm By Omar Faridi  |  

India-based consumer lending firm MoneyTap has reportedly decided to expand its business operations to include Buy Now, Pay Later (BNPL) services. MoneyTap said its new BNPL solutions will aim to provide more accessible, affordable, and 0% (equated monthly installments) EMI options to Indian consumers. MoneyTap… Read More

February 13, 2021 @ 2:41 pm By Omar Faridi  |  

Thrasio, a company that acquires and then aims to quickly grow third-party sellers on Amazon (NASDAQ: AMZN) has finalized $750 million in new funding, raising the firm’s valuation to around $3 billion to $4 billion. The investment round was led by current investors Advent and… Read More

February 13, 2021 @ 2:31 pm By Omar Faridi  |  

Big Four auditing company KPMG recently published its annual selection of China’s top Fintech firms. This year, the China Fintech 50 report was updated to include 100 companies to showcase the financial technology industry’s rapid growth and fast-evolving landscape. The 2020 China Fintech 50 list,… Read More

February 12, 2021 @ 8:25 am By Omar Faridi  |  

During a recently-held online press conference, Bank Negara Malaysia Governor, Datuk Nor Shamsiah Mohd Yunus stated that more than 40 parties have formally expressed their interest with the reserve bank to acquire a digital banking license (by submitting an online application). Malaysia’s virtual banking framework… Read More

February 11, 2021 @ 10:47 pm By Omar Faridi  |  

The 2021 Lunar New Year is approaching and authorities in Southeast Asia are now encouraging locals to turn to virtual red packets and online transactions, instead of using paper currency notes (in order to prevent the further spread of COVID-19). Asian residents are also being… Read More

February 11, 2021 @ 9:40 pm By Omar Faridi  |  

Arshad Mehmood Bhatti, Director, Exchange Policy Department at the State Bank of Pakistan (SBP), the nation’s central bank, has noted that the SBP has updated its Foreign Exchange Manual in order to facilitate local startups and Fintech firms in the country. The manual was also… Read More

February 10, 2021 @ 11:45 pm By Omar Faridi  |  

SCB 10X, a subsidiary of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has launched a $50 million VC fund that will make strategic investments in early and growth stage startups globally. SCB is looking for initiatives that are focused on blockchain, decentralized finance (DeFi),… Read More

February 10, 2021 @ 11:13 pm By Omar Faridi  |  

A new United Nations inquiry into the reported theft of $281 million in crypto-assets from  KuCoin, a major digital currency exchange, in September 2020 “strongly suggests” links to North Korea. Industry participants claim that Seychelles-headquartered KuCoin could be the victim of one of the largest… Read More

February 10, 2021 @ 8:51 pm By Omar Faridi  |  

China’s Nervos, a major public blockchain network, has introduced a $5 million fund that will provide cash grants to blockchain and Fintech entrepreneurs developing new solutions for “the future” of decentralized finance (DeFi). As mentioned in a release shared with CI, the pledge “comes amid… Read More

February 9, 2021 @ 11:15 pm By Omar Faridi  |  

US-based SAS, a multinational developer of analytics software, has revealed that the Bank of Singapore, which is a member of the OCBC Group, will be using its AI-enhanced communications surveillance analytics software in their training and monitoring of customer representatives’ performance. SAS’ Trade and Communications… Read More