Asia

November 8, 2019 @ 8:16 am By Omar Faridi  |  

San Francisco-based AngelList, a platform facilitating online capital formation and job-seekers interested in working at startups, has launched a new India-focused venture capital and angel fund, according to a report in the Economic Times. The newly launched fund will allow individuals to raise relatively small… Read More

November 8, 2019 @ 2:52 am By JD Alois  |  

The Japan Virtual Currency Exchange Association (JVCEA) has signed a Memorandum of Understanding (MoU) with the International Digital Asset Exchange Association (IDAXA). This is the eighth national trade association in the sector to align with IDAXA. The goal is to provide a unified voice for… Read More

November 8, 2019 @ 1:02 am By Cali Haan  |  

Ashley Alder, CEO of the Hong Kong Securities and Futures Commission told attendees at Hong Kong Fintech Week on Wednesday that Facebook’s Libra has forced, “the international regulatory community…to get its act together very rapidly,” regarding the financial stability risks of stablecoin cryptocurrencies. He also said… Read More

November 7, 2019 @ 9:32 pm By Cali Haan  |  

Micree Ketuan Zhan, co-founder of Bitmain, the world’s largest manufacturer of cryptocurrency mining hardware, has promised in an open letter to take legal action against colleagues who “dismissed” him suddenly at the end of October. According to a translation of the letter obtained by The… Read More

November 7, 2019 @ 1:33 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced the 20 finalists for the Global Fintech Hackcelerator as part of the 2019 Singapore Fintech Festival x Singapore Week of Innovation and TeCHnology (SFF x SWITCH). In a release, MAS said the finalists were selected from two… Read More

November 7, 2019 @ 8:12 am By Omar Faridi  |  

Vietnamese Tien Phong Commercial Joint Stock Bank (TPBank) has reportedly teamed up with American Fintech Ripple, in order to join RippleNet, a decentralized network of financial institutions and service providers that allows users to conduct quick and cheap international transactions. Notably, TP Bank was among… Read More

November 7, 2019 @ 7:58 am By JD Alois  |  

Tandem Bank is expanding into Hong Kong. The UK based challenger bank announced in a release that Tandem is working closely with Convoy Global Holdings on the launch. Tandem Bank expects to officially open up operations before the end of 2019. Convoy Global Holdings is… Read More

November 7, 2019 @ 4:21 am By Omar Faridi  |  

Hangzhou-based Alipay, a company that provides a mobile and online payments platform, has introduced a new prepaid card service for people visiting China. The card is reportedly supported by the Bank of Shanghai. The company’s announcement noted: “We heard you. You want to use Alipay… Read More

November 7, 2019 @ 2:13 am By Cali Haan  |  

The UN Security Council’s Sanctions Committee on North Korea has identified a Hong Kong business using a “blockchain platform” to launder money on behalf of the Pyongyang regime, Chosunilbo reports. The business, Marine China, reportedly, “set up a shipping and logistics firm run on a blockchain… Read More

November 6, 2019 @ 8:52 pm By JD Alois  |  

Mitsubishi UFJ Financial Group (MUFG) (NYSE:MUFG) has established the Security Token Research Consortium (ST Research Consortium) to develop next-generation financial transaction services using blockchain technology. Japan has emerged as a robust market for the development of blockchain technology. MUFG  is one of the largest financial… Read More

November 5, 2019 @ 8:57 am By JD Alois  |  

Kapital Boost, an Islamic peer-to-peer crowdfunding platform for SMEs, has received regulatory approval from the Indonesian Financial Services Authority (OJK). Kapital Boost described the approval as “validation that its business model and processes are in accordance with Indonesia’s financial services regulatory requirements, which has gotten… Read More

November 4, 2019 @ 11:16 pm By Omar Faridi  |  

Singapore-based DBS Bank, which provides services in consumer, SME, and corporate banking activities, has created a hybrid human-robo investment platform that can be accessed by its clients in Singapore. DigiPortfolio has been designed for new investors. The new investment service provides access to seven exchange-traded-funds… Read More

November 4, 2019 @ 2:28 pm By Omar Faridi  |  

The Shanghai branch of the People’s Bank of China (PBoC), the nation’s central bank, has released 40 new measures that have been created mainly to support Fintech development in the city, which is one of the four municipalities in the country. PBoC’s latest measures will… Read More

November 4, 2019 @ 10:16 am By JD Alois  |  

It has been widely reported that the People’s Bank of China is nearly ready to issue the first Central Bank Digital Currency (CBDC) to streamline the payment/transfer process for the Renminbi. Many central banks are reviewing the pros and cons of a CBDC but China… Read More

November 2, 2019 @ 1:54 pm By Omar Faridi  |  

Japan-based Paidy Inc., a Fintech firm that allows consumers to make online purchases quickly and securely without using a credit card or pre-registration, announced on October 31 that it received $143 million in additional funding. As noted in a release, Paidy’s funding consisted of a… Read More

November 2, 2019 @ 12:31 pm By Xu Gao  |  

People’s Bank of China and the State Administration for Market Regulation Jointly Incorporate Fintech Products into the National Certification System To implement the policy of “pushing for the establishment of a management system based on government supervision and led by standards where corporate responsibilities are… Read More

November 1, 2019 @ 1:08 pm By Cali Haan  |  

There is a lot of anger on “crypto Twitter” today following news that BitMEX, a cryptocurrency exchange known for allowing 100x leveraged cryptocurrency trades on its platform, has exposed the email addresses of “many” of its customers. The error occurred when the company sent out… Read More

November 1, 2019 @ 8:18 am By JD Alois  |  

Ethis has received regulatory approval to operate in Indonesia marking the third market this year where the platform may now provide online capital formation. Ethis received approval to provide peer to peer crowdfunding as authorized by the Financial Services Authority of Indonesia. Prior to this… Read More

October 31, 2019 @ 11:00 pm By Cali Haan  |  

Hong Kyung-sik, head of Bank of Korea’s Banking and Financial Affairs Division, told an audience at the ‘Hoyoung Viewing the Future of Payments’ conference Tuesday that countries with developed payments infrastructures like Korea do not need a central bank digital currency (CBDC), Coindesk Korea reports. Hong… Read More

October 31, 2019 @ 7:00 pm By Nick Raper  |  

With the implementation of PSD2 in Europe, Open Banking payment solutions are starting to be rolled out across the UK and Europe. But while the core Open Banking payment solutions are live, there is a long way to go until we see the widespread adoption… Read More