Asia

December 30, 2019 @ 2:15 pm By Omar Faridi  |  

Bank Negara Malaysia is reportedly planning to issue up to five operational licenses to qualified or eligible applicants in order to launch digital banks to perform either regular or Islamic banking business in the country. Malaysia’s central bank has issued the exposure draft on Licensing… Read More

December 30, 2019 @ 10:40 am By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard recently announced it has teamed up with Singapore currency exchange platform FXchange to provide outbound and inbound travelers in Singapore with digital payment options. Wirecard reported that the duo will be launching multi-currency Visa cards and a… Read More

December 30, 2019 @ 9:54 am By Omar Faridi  |  

ING is teaming up with the United Nations Children’s Fund Office of Innovation, in order to test a global program in the Philippines, which aims to identify and invest in various Fintech firms that are developing solutions that could help disadvantaged youth and families in… Read More

December 30, 2019 @ 8:48 am By Omar Faridi  |  

Non-financial firm ride-hailing service provider Grab confirmed on December 29 that it is partnering with one of Singapore’s largest telecommunication companies, Singtel, in order to acquire a digital full bank license in the Asian country. Singapore is currently accepting applications for a licenses to establish… Read More

December 30, 2019 @ 8:23 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) recently announced it has formed an agreement with China Unicom to enable China Unicom’s payment platform Unicompay to offer handset financing services to its base of subscribers. According to Pintec, the digital handset financing solution allows customers to… Read More

December 29, 2019 @ 6:24 pm By Omar Faridi  |  

India-based Vakilsearch, a legal, tax and compliance firm, has again launched the Startup Gear campaign. The campaign is conducted twice each year in order to assist emerging businesses in adhering to regulatory requirements, and to help startups with company registration procedures, getting assistance in drafting… Read More

December 29, 2019 @ 11:17 am By Omar Faridi  |  

CLPS Incorporation (Nasdaq: CLPS) noted on December 27 that Srustijeet Mishra, CLPS Singapore CEO, represented the firm as a guest speaker at the SYNC SEA 2019 Summit, which took place on December 6, 2019, in Singapore. During the event, Mishra reportedly discussed the firm’s current… Read More

December 28, 2019 @ 10:16 am By Omar Faridi  |  

India’s central bank, the Reserve Bank of India (RBI), is reportedly looking into the possibility of providing non-bank entities, including local Fintech firms and insurance providers, direct access to handling RTGS (real-time gross settlement) and NEFT (national electronic funds transfer) transactions – which would be… Read More

December 28, 2019 @ 10:01 am By Omar Faridi  |  

India-headquartered Aye Finance has acquired INR 1 billion (over $14 million) in debt funding from BlueOrchard. Aye Finance’s management noted that it will use the capital raised to further expand its line of products and services (in India), which mainly include its small to medium-sized… Read More

December 27, 2019 @ 4:15 pm By Omar Faridi  |  

We recently caught up with Dr. Xiang Xie, Algorithm Scientist of PlatON, a globally accessible “trustless” computing network, which recently revealed that it co-organized and supported the second iteration of the “Crypto Innovation School” (CIS). CIS is reportedly accredited by the International Association for Cryptologic… Read More

December 27, 2019 @ 3:57 pm By Cali Haan  |  

Noting “signs of (a) resurgence of virtual currency trading activities in the country,” four finance regulators in China (the Beijing Local Financial Supervision Bureau, the People’s Bank of China Business Management Department, the Beijing Banking and Insurance Regulatory Bureau, and the Beijing Securities Regulatory Bureau)… Read More

December 27, 2019 @ 3:49 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) of the Philippines has stripped Robocash Finance Corp.’s authority to operate as a financing company for running several branches without the necessary license. According to the SEC, the Corporate Governance and Finance Department (CGFD) issued the order of revocation… Read More

December 27, 2019 @ 11:44 am By Omar Faridi  |  

OneConnect recently launched SBI OneConnect Japan (in Tokyo), which is a joint initiative with Japanese financial services giant SBI Holdings. The platform offers cloud-powered and artificial intelligence (AI)-enhanced technological services to local financial institutions in order to assist them with their digital transformation efforts. In… Read More

December 27, 2019 @ 9:28 am By Samantha Hurst  |  

Euronet Worldwide (NASDAQ: EEFT), a global fintech solutions and payments provider, recently announced it has teamed up with Visa to fuel and sustain the growth of fintech companies in the Asia Pacific region. According to Euronet, the partnership utilizes Euronet’s Digital Integrated Payment Cloud (DIPC)… Read More

December 26, 2019 @ 4:08 pm By Omar Faridi  |  

India-headquartered Finly, a Fintech firm that automates accounts payable for small and medium-sized enterprises (SMEs), has acquired capital via an investment round from Social Capital and AngelList India. Other investors that took part in Finly’s latest round include Gemba Capital, Omphalos Ventures, and 91springboard through… Read More

December 26, 2019 @ 1:41 pm By Samantha Hurst  |  

Privacy Coin Zcoin (XZC) announced on Thursday the launch of its new crowdfunding system (ZCS) in an effort to decentralizing funding and decision making of the project. The platform revealed: “The Zcoin team intends for the ZCS to serve as a transition from funding directly… Read More

December 26, 2019 @ 9:53 am By Omar Faridi  |  

China Rapid Finance Limited (NYSE: XRF), an established Chinese Fintech firm, revealed on December 24 that True North Financial, LLC has invested $8 million in a private transaction for unregistered shares of the Rapid Finance’s company stock. Shares in China Rapid Finance jumped on the… Read More

December 26, 2019 @ 8:05 am By Omar Faridi  |  

The Shenzhen Stock Exchange (SSE), the stock exchange of China’s leading technology hub Shenzhen city, has introduced an index that tracks the performance of the country’s top 50 blockchain startups. As noted in an announcement on December 24, the performance index will be based on… Read More

December 25, 2019 @ 11:30 pm By Xu Gao  |  

China to Enact Personal Information Protection Law and Data Security Law in 2020 On December 20th, the Legislative Affairs Commission of the NPC Standing Committee held its third press conference. According to the Legislative Law of the People’s Republic of China, the Standing Committee of… Read More

December 25, 2019 @ 9:28 pm By Omar Faridi  |  

Malaysia now appears to be a promising market for virtual or challenger banks, according to Big Four auditing firm PricewaterhouseCoopers’ (PwC) Malaysia division. The country’s reserve bank is planning to introduce its virtual or digital banking licensing guidelines for industry consultation. In a recent interview,… Read More