Asia

September 28, 2019 @ 1:33 pm By Omar Faridi  |  

Switzerland-based EST Group announced on September 27 that it will invest $250 million in the next 18 months into various Indian Fintech companies. EST Group said in a release that it is very bullish about the Indian market due to great potential for new opportunities…. Read More

September 27, 2019 @ 10:56 am By Omar Faridi  |  

Mastercard has announced the launch of a pilot program that involves helping garment factory workers transition from using cash to receiving digital wage payments. Sue Kelsey, executive vice president, prepaid solutions, Mastercard, stated in a press release: “At Mastercard, our vision is to ultimately build… Read More

September 27, 2019 @ 8:08 am By Omar Faridi  |  

Shares of Chinese Fintech firms are surging as the nation’s investors prepare for the upcoming launch of a national digital currency. China’s new internet-based currency is expected to increase demand for related security and payment services. The CSI Fintech theme index, an index that tracks… Read More

September 26, 2019 @ 2:19 pm By Omar Faridi  |  

Most, or 94%, of the financial services firms based in Singapore are looking for skilled Fintech professionals, according to survey data from local jobs and recruitment site Michael Page Singapore. Nilay Khandelwal, managing director at Michael Page Singapore, noted: “With the Fintech landscape in Singapore… Read More

September 26, 2019 @ 2:06 pm By Samantha Hurst  |  

Hong Kong-based cryptocurrency platform Crypto.com announced on Thursday the launch of its Pay Checkout plugin for e-commerce platform, WooCommerce. According to Crypto.com, the plugin enables merchants to accept cryptocurrency, and may instantly convert to fiat currencies of choice for merchants. “Powered by the Crypto.com’s PCI:DSS… Read More

September 26, 2019 @ 2:56 am By JD Alois  |  

Dr. Zhou Xiaochuan, President, China Society for Finance and Banking, and former Governor, People’s Bank of China, addressed a closed-door audience today in an event sponsored by the Monetary Authority of Singapore (MAS). The topic of Dr. Xiaochuan’s speech was “Fintech development and its interaction… Read More

September 25, 2019 @ 8:20 am By JD Alois  |  

The Securities Commission Malaysia (SC) has registered EdgeProp Sdn Bhd as the first “Recognised Market Operator” to establish and operate a property crowdfunding platform in Malaysia. EdgeProp was granted an approval in principle in September 2019. EdgeProp currently provides a portfolio of services for the… Read More

September 25, 2019 @ 2:45 am By Omar Faridi  |  

Cryptocurrency holdings are not considered cash, however, they may be classified as an intangible asset, according to the Korea Accounting Institute, which referenced decisions made following a conference in London (in June) by the International Financial Reporting Interpretations Committee (IFRIC). London-headquartered IFRIC, a global accounting… Read More

September 24, 2019 @ 10:32 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF), at Cambridge Judge Business School, is out with the Asean Fintech Ecosystem Benchmarking Study published in partnership with the Asian Development Bank Institute (ADBI) and FinTechSpace in Taiwan. CCAF is the leading research institute covering the global alternative… Read More

September 24, 2019 @ 8:01 am By Omar Faridi  |  

The governor of the Bank of Japan (BoJ) Haruhiko Kuroda has requested the international community to work together to develop a regulatory framework for stablecoins, including Facebook’s Libra. In statements shared with Reuters on Tuesday, Kuroda noted: “If Libra is introduced, it could have a… Read More

September 23, 2019 @ 3:35 pm By Samantha Hurst  |  

Bithumb Global, the global platform for Bithumb, a South Korea- based digital asset exchange, has announced its plans of coming to India. Bithumb reported that it will now onboard Indian customers with a sign-up incentive along with the opportunity for Indian exchanges to become a… Read More

September 23, 2019 @ 12:49 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) recently instructed local banks and non-bank lending institutions to stop “agents” from reviewing credit bureau data.  The central bank’s directive could have a negative impact on software service providers, who work with local banks to assess credit quality. Several… Read More

September 22, 2019 @ 6:38 pm By Omar Faridi  |  

The global blockchain technology market will be led by financial institutions that are expected to increasingly adopt systems powered by distributed digital ledgers in the coming years, according to a press release from Global Market Insights. The report noted that blockchain-enabled systems can significantly enhance… Read More

September 21, 2019 @ 3:25 pm By Xu Gao  |  

The People’s Bank of China Issues “China Rural Financial Services Report (2018)” On September 19th, the People’s Bank of China issued the “China Rural Financial Services Report (2018)” (hereinafter referred to as the “Report”). The report provides a detailed review of the development of China’s… Read More

September 21, 2019 @ 12:03 pm By Omar Faridi  |  

Ravi Menon, head of the Monetary Authority of Singapore (MAS), the nation’s central bank, has warned that Facebook’s controversial stablecoin project Libra raises significant global financial risks, which must be addressed by regulatory authorities.  Menon joins a growing list of regulators throughout the world who’ve… Read More

September 21, 2019 @ 11:52 am By Omar Faridi  |  

South Korean digital asset exchange Upbit announced on September 20 that it will delist several privacy-oriented cryptocurrencies including Monero (XMR), Dash (DASH), and ZCash (ZEC). Upbit’s management noted in a blog post that it would also cease trading for PIVX, a privacy-focused proof-of-stake (PoS) currency… Read More

September 20, 2019 @ 3:40 pm By Omar Faridi  |  

“Bank-As-A-Service” platform MatchMove has reportedly finalized an agreement with MoolahSense, a licensed peer-to-peer (P2P) lending firm. The deal involves a strategic stake, which will take effect immediately. CEO of MoolahSense Lawrence Yong noted: “We are excited to partner with MatchMove to launch a risk-mitigated ‘on-tap’… Read More

September 20, 2019 @ 2:11 pm By Omar Faridi  |  

China’s capital Beijing and global financial hub Shanghai have topped the list of cities that are recognized for fostering a rapidly evolving Fintech industry. This, according to a semi-annual survey performed by Shenzhen-based think tank China Development Institute (CDI) and London-headquartered think tank Z/Yen Partners…. Read More

September 20, 2019 @ 11:24 am By Omar Faridi  |  

India has slashed its corporate tax rates in order to encourage companies to make investments and help grow the nation’s struggling economy. Indian finance minister Nirmala Sitharaman noted that the base corporate tax rate would be reduced from 30% to 22%.  Shortly after the announcement,… Read More

September 19, 2019 @ 9:09 am By Samantha Hurst  |  

Hong Kong-based cryptocurrency platform Crypto.com announced on Thursday its mobile wallet app has surpassed one million downloads since its worldwide launch in May 2018. According to Crypto.com, the mobile wallet app allows users to do the following: Buy crypto at true cost and store it securely… Read More