Asia

February 21, 2020 @ 11:25 pm By Samantha Hurst  |  

KuCoin, a Singapore-based global cryptocurrency exchange, announced on Thursday the launch of its new one-stop crypto trading platform solution product, KuCloud. According to KuCoin, Kucloud offers two products, XCoin and XMEX. It is also able to deliver key functionalities of KuCoin Spot platform and KuMEX… Read More

February 21, 2020 @ 8:00 pm By Omar Faridi  |  

New York-headquartered tech giant IBM’s Indonesia division has confirmed that the nation’s Directorate General of Customs and Excise has begun using the blockchain or distributed ledger technology (DLT)-enabled shipping platform, called TradeLens. This news has come after months of platform development, with the country’s Customs… Read More

February 21, 2020 @ 11:12 am By Omar Faridi  |  

Digital Banking Banking challengers have been introducing innovative financial products in order to compete with traditional banks. Challenger or neobanks attracted $5.2 billion in funding last year, which is more than triple of what they received back in 2018 ($1.6 billion). Italy-based Nexi, a digital… Read More

February 21, 2020 @ 10:11 am By Samantha Hurst  |  

Fidelity International, a spin-off from the U.S. financial services brand Fidelity Investments, has reportedly invested $14 million in BC Group (stock code: 863 HK), the Hong Kong-based operator of crypto exchange OSL. Founded in 2018, OSL claims to be the Hong Kong region’s most comprehensive… Read More

February 21, 2020 @ 12:25 am By Omar Faridi  |  

India’s residents will soon have the option to submit votes from outside their city of registration. The nation’s citizens will be able to use a blockchain-enabled platform to cast their votes. The Times of India reported on February 13 that Sunil Arora, the country’s chief… Read More

February 20, 2020 @ 11:21 pm By Omar Faridi  |  

India-based Paytm, an established payment gateway, has teamed up with ride-hailing app Uber in order to add credit and debit processing and will allow customers to easily perform card transactions. Uber will use the existing digital wallet integration with Paytm’s platform to offer riders a… Read More

February 20, 2020 @ 1:29 am By Omar Faridi  |  

LenDenClub, a peer-to-peer (P2P) lending solution provider, has teamed up with Singapore-headquartered CredoLab, an established developer of bank-grade online credit scorecards, which are based on mobile phone metadata.  LenDenClub has integrated CredoLab’s credit scoring system, called CredoSDK. The credit system will help the firm in… Read More

February 20, 2020 @ 12:27 am By Omar Faridi  |  

NICE Actimize, a NICE company (Nasdaq: NICE) business offering autonomous financial crime management solutions, has reportedly been chosen by TONIK, an Asian pure-play regulated digital bank, to develop its Essentials anti-money laundering platforms and also to assist in the creation of secure banking environments for… Read More

February 19, 2020 @ 9:57 pm By Omar Faridi  |  

Bank of Singapore, the private banking arm of OCBC Bank (Oversea-Chinese Banking Corporation, Limited) (SGX: O39), has appointed Celine Le Cotonnec to the institution’s newly created role of chief data and innovation officer. Le Cotonnec will be reporting directly to Bahren Shaari, the CEO at… Read More

February 19, 2020 @ 8:20 pm By Omar Faridi  |  

ASEAN Exchanges, a group which consists of six major exchanges based in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam, have reportedly chosen to integrate Refinitiv’s digital solutions onto their online platform. The solution offers critical data and insights to institutional and retail clients, and assists… Read More

February 18, 2020 @ 11:11 am By Samantha Hurst  |  

Credify, a Singapore based software development company offering Universal Identity and Trust System solutions to e-commerce and financial services companies, announced on Tuesday it raised $1 million through its latest seed investment round, which was led by venture capital funds BEENEXT and DEEPCORE. Founded in… Read More

February 18, 2020 @ 8:48 am By Omar Faridi  |  

Malta-based digital asset exchange Binance’s Singapore division has applied for a new payments license under the city-state’s new Payment Services Act, which became effective on January 28, 2020. Changpeng Zhao, CEO at Binance, the world’s largest crypto-asset exchange in terms of adjusted trading volume, confirmed:… Read More

February 17, 2020 @ 11:45 pm By Omar Faridi  |  

SoftBank, a Japan-based global conglomerate holding firm with over $283 billion in assets, will reportedly be adding another $1 billion this year to its $5 billion Latin America Fund, which was launched last year. The Tokyo-headquartered company added $1.6 billion to the fund in 2019…. Read More

February 17, 2020 @ 10:43 pm By Omar Faridi  |  

Indonesia-based PT Pegadaian, a state-owned pawnshop, is reportedly planning to work with several Fintech firms in order to create digital financing solutions, which will help the pawnshop expand its business operations. PT Pegadaian’s management realizes the potential of the growing digital finance ecosystem and intends… Read More

February 17, 2020 @ 10:36 pm By Omar Faridi  |  

India’s financial technology sector is expanding rapidly, which has led to SEBI, the nation’s financial market regulator, to launch a regulatory sandbox. The sandbox program will assist local Fintech firms with testing out new products and services with a small group of users before introducing… Read More

February 17, 2020 @ 4:24 pm By JD Alois  |  

“The route to hell is paved with goodwill” starts the missive posted by FCoin (a crypto exchange) creator Zhang Jian who then goes on to reveal that “internal problems and technical difficulties” may mean a loss of between 7000 and 13,000 Bitcoin – or up… Read More

February 17, 2020 @ 12:47 pm By Omar Faridi  |  

Ant Financial, an affiliated company of the Chinese Alibaba Group, is reportedly running the first international blockchain-powered payment service in Pakistan. This is a major milestone in the Asian nation’s journey to enable greater financial inclusion. Ant Financial is notably the world’s highest-valued Fintech firm,… Read More

February 17, 2020 @ 8:52 am By Omar Faridi  |  

William Russell, the Lord Mayor of the city of London, noted recently that the UK is planning to support Qatar in becoming a leading financial technology (Fintech) hub in the Middle East. Russell praised the new legislation and regulations being developed by the Qatari government… Read More

February 17, 2020 @ 8:27 am By Omar Faridi  |  

Dubai Multi Commodities Center (DMCC), an organization formed in 2002 by Dubai’s government to offer physical, market and financial infrastructure needed to establish a hub for global commodities trade, has committed to strategic membership agreement with Al Khaleej Sugar and Universa Blockchain.  According to the… Read More

February 17, 2020 @ 7:32 am By Omar Faridi  |  

Approximately 80% of all Chinese banks will acquire and integrate Fintech solutions from the cloud market, according to International Data Corporation (IDC), a leading multinational market intelligence company.  China’s Fintech sector is known for quickly adopting a broad range of information technologies including cloud computing,… Read More