Asia

October 31, 2019 @ 2:02 pm By Omar Faridi  |  

The government of Guangzhou, the capital and most populous city of China’s Guangdong province, has reportedly launched a $140 million subsidy fund in order to support the ongoing development of several local blockchain projects. Guangzhou’s authorities intend to allocate around 1 billion yuan (appr. $141… Read More

October 31, 2019 @ 1:10 pm By Omar Faridi  |  

Carbon exchange AirCarbon has announced the launch of a globally accessible tokenized carbon credits trading platform. The Singapore-based platform will allow airline companies to purchase and sell tokens that represent Eligible Emission Units (EEUs) or carbon offset credits. The platform’s services were recently approved by… Read More

October 31, 2019 @ 1:39 am By Cali Haan  |  

On the heels of yesterday’s news that competitor Canaan has filed an IPO prospectus to go public on the Nasdaq comes a report that Bitmain, the world’s largest manufacturer of cryptocurrency mining hardware, is also seeking to go public on a New York Stock Exchange…. Read More

October 30, 2019 @ 3:17 am By Cali Haan  |  

Despite an official ban on cryptocurrency trading imposed progressively in the region since 2016, China now appears to be throwing its full weight behind “blockchain,” a type of distributed-ledger technology popularized by Bitcoin that many critics claim is of little use outside of it. A… Read More

October 29, 2019 @ 10:30 pm By Cali Haan  |  

Micree Ketuan Zhan, majority stakeholder of world’s largest crypto mining hardware manufacturer, Bitmain, appears to have been forced out of the company he helped found with Jihan Wu. Chinese media including Sina reported on the developments, which appear to have been confirmed in an email… Read More

October 29, 2019 @ 4:23 pm By Cali Haan  |  

Chinese state news site The People’s Daily is advising Chinese investors to be “rational” despite excitement raised by President Xi Jinping’s recent remarks endorsing, “accelerate(d) development of blockchain technology and industrial innovation.” According to Reuters, The People’s Daily urged Monday: “Blockchain’s future is here but… Read More

October 29, 2019 @ 7:08 am By Omar Faridi  |  

Singapore-based crypto exchange Huobi’s Japan division has reportedly received nearly 500 million yen (appr. $4.6 million) in funding from a major Tokyo-listed firm focused on several areas including leasing, real estate, insurance brokerage and mergers and acquisitions (M&A). As noted in Huobi’s press release, the… Read More

October 28, 2019 @ 9:20 pm By Cali Haan  |  

After an application to go public in Hong Kong lapsed last year, Canaan, the second-biggest maker of cryptocurrency mining hardware after Bitmain, has brought its bid to go public to New York. According to a registration statement submitted to the SEC in Washington, Canaan plans… Read More

October 28, 2019 @ 6:56 pm By Cali Haan  |  

Reuters is reporting that Sun Tianqi, chief accountant at China’s State Administration of Foreign Exchange (SAFE), told financiers assembled at the Bund Summit in Shanghai this week that governments in emerging markets must regulate cryptocurrencies because they can be used to transmit capital illegally and could… Read More

October 28, 2019 @ 9:15 am By Omar Faridi  |  

The Securities Commission Malaysia (SC)  hosted the sixth edition of the SCxSC Fintech Conference on October 22, an event aimed at helping to scale up the nation’s Fintech industry.  Notably, Malaysia’s Fintech sector has seen several new players enter its ecosystem, following the regulatory agency’s… Read More

October 28, 2019 @ 6:00 am By JD Alois  |  

Visa (NYSE:V), the ubiquitous credit card and payments rails, and Marqeta, the modern card issuing platform, have announced a new partnership designed to “ease global expansion for multinational card programs.” The project is said to provide a streamlined developer-friendly path for Visa issuers to launch… Read More

October 27, 2019 @ 11:38 pm By JD Alois  |  

InstaReM, a fast-growing payments Fintech, is rebranding as “Nium.” The InstaReM brand will be maintained as a remittance platform powered by Nium which is being positioned as the “first global payments platform to enable businesses to send, spend and receive money from around the world.”… Read More

October 27, 2019 @ 6:02 pm By Omar Faridi  |  

A new cryptography law was passed on October 26 by the Standing Committee of the 13th National People’s Congress in China. The proposed law will be effective on January 1 of next year, according to local news outlet Xinhuanet. The announcement has come shortly after… Read More

October 27, 2019 @ 11:32 am By Cali Haan  |  

A former vice mayor of the Philippine city Cagayan de Oro has been arrested for his alleged involvement in an investment scam in Cebu, and is also known for being “visible” at events hosted by another scheme called Freedom Traders Club (FTC), which sold a… Read More

October 26, 2019 @ 2:59 pm By Xu Gao  |  

China Issues New Rules Against Illegal Lending On October 21st, a new financial rule was jointly released by four ministries and commissions of China’s central government-the Supreme People’s Court, the Supreme People’s Procuratorate, the Ministry of Public Security and the Ministry of Justice. According to… Read More

October 26, 2019 @ 2:36 pm By JD Alois  |  

Indonesia is the is 16th largest economy and the 4th largest by population in the world. Both of these numbers are expected to grow in the coming years. There are around 45 million Indonesians who are considered middle class – a number that is joined… Read More

October 26, 2019 @ 1:39 pm By Cali Haan  |  

Indian Finance Minister Nirmala Sitharaman has said that despite a sense of urgency kicked up by Facebook’s proposal to create a global currency system (Libra), many countries remain cautious about “rushing into” a cryptocurrency arms race, Business Standard reports. “On our side, the Reserve Bank Governor (Shantikanta… Read More

October 25, 2019 @ 9:32 am By JD Alois  |  

China’s General Secretary Xi Jinping has commented on the importance of blockchain technology noting that China plans to lead the world in the development of blockchain including financial services and other areas. According to Xinhua, yesterday, at the 18th collective study of the Political Bureau… Read More

October 24, 2019 @ 10:43 pm By Omar Faridi  |  

New York-based Blockstack, a decentralized computing network where users control their data and login information, announced that its Stacks (STX) token has been listed on digital asset exchanges Binance and HashKey Pro. Hashkey Pro is a Hong Kong based digital asset exchange for institutional investors…. Read More

October 24, 2019 @ 8:44 am By Omar Faridi  |  

Shenzhen-based Tencent, an internet service portal that provides mobile, telecom, and online advertising services, has stated that the proposed launch of the Facebook-led Libra project could pose a threat to existing digital payment platforms. Tencent’s management noted in a recently published blockchain whitepaper that the… Read More