Asia

September 13, 2019 @ 9:54 am By Omar Faridi  |  

Hong Kong-based fundraising platform BnkToTheFuture is planning to facilitate security token offerings (STOs). The move will be facilitated by a strategic investment in Diacle. Founded in 2013, Diacle is an appointed representative of Met Facilities LLP, which is authorised and regulated by the UK Financial… Read More

September 13, 2019 @ 1:55 am By Cali Haan  |  

Although payments are increasingly digital, China has little interest in creating a self-settling digital yuan system using blockchain, Abacus News reports. According to the outlet: “China is increasingly a cashless society. Even street-food sellers in small towns will prefer to use a mobile payment app… Read More

September 12, 2019 @ 11:04 pm By Omar Faridi  |  

Digital asset exchange Huobi appears to be pursuing a reverse initial public offering (IPO), according to a document shared with the Hong Kong Stock Exchange (HKEX). Hong Kong-listed electronics firm Pantronics Holdings Limited, which was acquired by Huobi in August 2018, will be changing its… Read More

September 11, 2019 @ 7:50 am By JD Alois  |  

AngelHub and WHub have closed on a USD $3 million led by Kharis Capital and Hong Kong Fintech Unicorn TNG Fintech Group. AngelHub and WHub were co-founded by Karena Belin and Karen Contet Farzam. Daniel Grossmann, co-founder of Kharis Capital will be joining the board… Read More

September 11, 2019 @ 7:42 am By Samantha Hurst  |  

OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant Ping An Group, announced on Wednesday it has signed a memorandum of understanding (MoU) with insurer Asuransi Sinarmas, a unit of Sinarmas. OneConnect reported that through the MoU it will enable Asuransi Sinarmas to… Read More

September 11, 2019 @ 6:50 am By Samantha Hurst  |  

Chinese consumer financing platform LexinFintech announced on Wednesday it has entered into a convertible note purchase agreement with PAG issue and sell convertible notes in an aggregate principal amount of $300 million through a private placement.  LexinFintech reported that the convertible notes will mature in seven… Read More

September 10, 2019 @ 11:09 am By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Monday it has expanded its existing collaboration with Malaysia’s Affin Bank Berhad. Wirecard reported that through this partnership, more than 300,000 Affin Bank customers are already benefitting from an array of services such as… Read More

September 10, 2019 @ 10:10 am By Samantha Hurst  |  

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced on Tuesday its support for the decision by industry regulators to include the country’s P2P platforms in the central bank’s credit system. The online lender reported that it believes this as a positive move for the P2P… Read More

September 10, 2019 @ 8:00 am By JD Alois  |  

CasperLabs, an open-source blockchain that seeks to scale without sacrificing speed, cost, usability, and security, has raised $14.5 million in a Series A round, according to a release. The funding was led by Terren Piezer, through his personal holding company, Acuitas Group Holdings. Piezer has… Read More

September 10, 2019 @ 7:40 am By JD Alois  |  

MERJ, the national stock exchange of Seychelles, has kicked off its initial public offering (IPO) of tokenized equity. The digital asset is the first security token offering (STO) of a regulated stock exchange anywhere. The IPO values the 8-year old exchange at USD $25 million…. Read More

September 10, 2019 @ 2:14 am By Omar Faridi  |  

Beijing-headquartered mobile technology and software firm Xiaomi has been developing premium smartphones and selling them at competitive prices. Referred to as the “Apple of China,” the consumer electronics company recently penetrated India’s consumer markets. Xiaomi’s smartphone has become India’s most popular mobile device, according to… Read More

September 9, 2019 @ 3:37 pm By Cali Haan  |  

Controversial stablecoin issuer Tether has launched its promised “CNHt” coin, which is designed to act as a cryptographic proxy of offshore Chinese yuan (CNH). The coin will run as an ERC-20 token on the Ethereum network. Offshore Chinese yuan (CNH) added to our basket of… Read More

September 9, 2019 @ 7:03 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank, revealed that a new regulatory evaluation program is being developed to connect payment companies with legal service providers.  The program is part of a joint initiative launched by the MAS and the Singapore Academy of… Read More

September 8, 2019 @ 11:01 am By Omar Faridi  |  

Chinese multinational conglomerate Alibaba Group has acquired Kaola for approximately $2 billion from Hangzhou-based entertainment giant NetEase. The acquisition has created the largest cross-border e-commerce platform in China, according to Alibaba’s management. Commenting on Alibaba Group’s latest acquisition, company chief executive Daniel Zhang said:  “With… Read More

September 8, 2019 @ 8:52 am By Omar Faridi  |  

One of Pakistan’s largest financial institutions, Faysal Bank Limited (FBL) has launched a digital payments solution through a partnership with US-based  Ripple, a blockchain-based money transfer platform. FBL is one of Pakistan’s largest commercial banks with over 220 branches nationwide and assets totaling $1.5 billion…. Read More

September 8, 2019 @ 8:33 am By Omar Faridi  |  

Fintech firms that originally offered loan originations and pure-play credit marketplaces are now looking to become lenders themselves. Some of these firms have either applied for or have received a non-banking finance company (NBFC) license from the Reserve Bank of India (RBI), according to local… Read More

September 7, 2019 @ 8:41 am By Cali Haan  |  

Police in China have shut down a massive cryptomining exploit pervaded by a computer network maintenance company in the Northeastern city of Zhengzhou, CCTV News reports. Officially, the company offered network maintenance services and “value-added advertising,” to Internet cafes and other businesses. Unofficially, the company’s 9000… Read More

September 7, 2019 @ 8:33 am By Xu Gao  |  

China to Include P2P lending Industry into Credit System On September 2nd, the special working group for Fintech risk ratification and special working group for online lending administration jointly issued a notice, requiring all p2p lending institutions to be connected to the credit system established… Read More

September 6, 2019 @ 10:12 am By JD Alois  |  

Late last month, the Monetary Authority of Singapore (MAS) announced it has begun accepting applications for digital bank licenses. The new banking licenses are only for aspiring non-bank Fintechs. MAS leadership explained that virtual banks will help assure the banking sector remains resilient and competitive… Read More

September 5, 2019 @ 9:05 pm By Cali Haan  |  

More crypto action in Thailand this week as a man alleged to have worked as part of a Thai-Vietnamese gang that defrauded investors “in at least 10 Asian nations” via cryptocurrencies was arrested while recreating on a Bangkok soccer field Wednesday, The Bangkok Post reports…. Read More