Asia

December 15, 2020 @ 9:15 pm By JD Alois  |  

Funding Societies has received an investment from Samsung Venture Investment Corporation, according to a note from the Fintech.  Details on the investment were not disclosed. Samsung Venture is an investment arm of the South Korean conglomerate, Samsung Group, and has been an active investor in… Read More

December 14, 2020 @ 10:49 pm By Omar Faridi  |  

The US-Qatar Business Council (USQBC), the Silicon Valley Forum and the Embassy of the State of Qatar in Washington DC recently held a discussion during a virtual event on December 8, 2020, titled “Qatar in Focus: Smarter Countries & Thriving Communities in the Digital Age.”… Read More

December 14, 2020 @ 9:23 pm By Omar Faridi  |  

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

December 14, 2020 @ 7:42 pm By Omar Faridi  |  

Peer to peer (P2P) Bitcoin exchange Paxful has confirmed that ID verification will soon become mandatory for many different countries beginning this month (December 2020). Paxful claims it’s one of the few crypto-asset marketplaces that strictly enforce KYC (Know Your Customer) verification checks and procedures…. Read More

December 14, 2020 @ 10:09 am By JD Alois  |  

In a speech this week delivered at the China Fintech Global Summit in Shenzen, Liu Yingbin, Senior Assistant President, Hong Kong Monetary Authority (HKMA) said that Hong Kong can help mainland Chinese Fintechs go global. Yingbin touted Hong Kong’s Fintech ecosystem which has emerged as… Read More

December 13, 2020 @ 11:55 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the Magyar Nemzeti Bank (MNB) have entered into a co-operation Agreement (CA) in order to collaborate on various Fintech initiatives that will enhance Singapore and Hungary’s economy. The CA aims to establish a framework for Fintech collaboration between… Read More

December 13, 2020 @ 10:38 pm By Omar Faridi  |  

Malaysia-based CapBay, a peer to peer (P2P) supply chain financing platform, has reportedly arranged RM 100 million (appr. $24.68 million) in funding across 500 investment notes via its platform since it began operations in March of this year. This milestone is part of CapBay Group’s… Read More

December 13, 2020 @ 9:30 pm By Omar Faridi  |  

Amsterdam-based Backbase, a Fintech software provider that “empowers” financial institutions to accelerate their digital transformation strategies in order to compete in a digital-first world, has been chosen by DigiBankASIA to provide its “full-stack” online engagement banking platform solution for its virtual bank UNO. Backbase will… Read More

December 13, 2020 @ 6:55 pm By Omar Faridi  |  

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More

December 13, 2020 @ 6:46 pm By Omar Faridi  |  

Simon Torrance, Advisor to Boards and Leadership teams on business model transformation, platform strategy, and digital ventures, claims that embedded insurance is a $3 trillion market opportunity, which may help “close the protection gap.” Torrance, a Senior Advisor at Rainmaking, explains that embedded insurance is… Read More

December 12, 2020 @ 6:57 pm By Omar Faridi  |  

Smallcase, a Fintech firm that allows people to invest in a basket of stocks, has acquired an undisclosed amount of capital (as part of its Series B investment round) from HDFC Bank, an Indian banking and financial services company based in Mumbai. HDFC Bank (NSE:… Read More

December 12, 2020 @ 12:27 pm By Xu Gao  |  

GaiaWorks Raises ¥500 Million in Series D1 Funding Led by GGV Capital On December 8th, GaiaWorks, a Chinese leading provider of workforce management cloud services, announced that it had closed ¥500 million in Series D1 funding. The investment was led by GGV Capital, with participation… Read More

December 11, 2020 @ 9:12 pm By Omar Faridi  |  

The Injective Protocol token will be listed on Tokocrypto, an Indonesia based digital assets exchange. Tokocrypto’s management noted that they intend to officially list INJ tokens beginning on December 11, 2020 (at 4:00 AM UTC). This should help with opening up “the best avenue for… Read More

December 10, 2020 @ 10:57 pm By Omar Faridi  |  

Singapore has managed to attract the highest total funding amount (at 42%) in the ASEAN region – which includes other major Southeast Asian economies such as Indonesia, Malaysia, Thailand, Vietnam, the Philippines, among others. Overall investor interest in Singapore’s Fintech companies continues to remain quite… Read More

December 10, 2020 @ 6:23 pm By Omar Faridi  |  

CertiK, a U.S.-based end-to-end cybersecurity solutions provider, has revealed that KardiaChain’s hybrid solution for enterprises and government agencies has been audited with CertiK. As noted by the CertiK team, KardiaChain is a public blockchain or distributed ledger technology (DLT) platform developed to handle enterprise and… Read More

December 10, 2020 @ 1:50 pm By Milena Naitoh  |  

Digital lending platforms have made strong inroads in Southeast Asia over the past few years. In 2016 alone, peer-to-peer (P2P) business lending generated US$115.01 million—more than half of Southeast Asia’s total alternative financing market that year.  This growth can be attributed to a combination of… Read More

December 10, 2020 @ 9:37 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced the winners of the 2020 Global Fintech Innovation Challenge. This year the theme was “Building Resilience, Seizing Opportunities, Emerging Stronger,” appropriate during the time of COVID. The awards were handed out today at the Singapore Fintech Festival… Read More

December 10, 2020 @ 9:18 am By Samantha Hurst  |  

Southwestern Asian banking group DBS announced on Thursday it will set up a digital exchange. The exchange will notably allow institutional investors, as well as accredited investors, to tap into a fully integrated tokenization, trading, and custody ecosystem for digital assets. DBS further revealed that… Read More

December 9, 2020 @ 11:22 pm By Omar Faridi  |  

  One of China’s top banking regulators has called into question the power of the nation’s large Fintech firms and suggested taking “timely and targeted measures to prevent new systemic risks.” As reported by CNBC, the Chinese official’s comments seem to indicate that more regulations… Read More

December 9, 2020 @ 9:49 pm By Omar Faridi  |  

Blockchain analysis firm Chainalysis has teamed up with top Japanese system integrators in order to boost its compliance network. Chainalysis announced on December 7, 2020, that it has partnered with Japan-based system integrators Hitachi and SB C&S. These firms are the latest to join Chainalysis’… Read More