Asia

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

September 19, 2019 @ 7:11 am By Cali Haan  |  

Officials from the Cagayan Economic Zone Authority (CEZA) have suspended three cryptocurrency exchanges licensed to operate in designated zones only but found to be operating in Metro Manila. Golden Millennial Quickpay, Liannet Technology Ltd and Asia Premier are all under suspension, “…until they transfer to… Read More

September 18, 2019 @ 10:02 am By Omar Faridi  |  

Malta-based Binance, the world’s largest crypto asset exchange by adjusted trading volume, has invested in Mars Finance, a Chinese media and data source company. Although the exact amount invested has not been shared publicly, the company is valued at $200 million, according to a press… Read More

September 18, 2019 @ 8:24 am By JD Alois  |  

InstaReM a payments and money transfer Fintech has launched its services in Canada. InstaReM is one of the largest digital cross-border payments providers globally, with regulatory licenses in eight markets and covering 40 countries, reaching 3.2 billion people in developed and developing countries. In Canada,… Read More

September 18, 2019 @ 7:58 am By Samantha Hurst  |  

Ping An Insurance Group announced on Wednesday its Ping An Global Voyager Fund is leading an investment of $15 Million in Riverain Technologies, which is a provider of clinical artificial intelligence software used to efficiently detect lung disease at its earliest stages. According to Ping… Read More

September 17, 2019 @ 8:16 pm By Cali Haan  |  

Officials from five government departments in the Inner Mongolia Autonomous Region of China are gearing up to crack down on crypto mining in that region, Chinese crypto media outlet ChainNews reports. Mongolia’s Autonomous Region Development and Reform Commission, Public Security Department, Office of the Ministry… Read More

September 17, 2019 @ 2:16 pm By Samantha Hurst  |  

Hong Kong-based cryptocurrency platform Crypto.com announced on Tuesday the alpha version release of the Crypto.com Chain public testnet. According to Crypto.com, the launch comes ahead of schedule and 10 months after the announcement of the Crypto.com Chain, which is a high-performing blockchain powering the QR… Read More

September 17, 2019 @ 2:01 pm By Samantha Hurst  |  

Ping An Insurance Group announced on Tuesday that its Ping An Global Voyager Fund has invested in finleap’s new digital financial Joonko.  According to Ping An, Joonko is the digital financial portal that helps European consumers to choose the right financial products for their personal… Read More

September 17, 2019 @ 2:16 am By Cali Haan  |  

On a tip from authorities in China, police in the Philippines have arrested 277 people they believe pervaded a cryptocurrency scam that defrauded at least 1000 Chinese nationals, Business Inquirer reports. The scheme reportedly emanated from a company called Golden Millennial Quickpay Inc. Ltd., an offshore… Read More

September 16, 2019 @ 11:39 pm By JD Alois  |  

iSTOX, a digital securities issuer and secondary trading platform, has hired Lim Mei Shern as its new Head of Compliance. Lim was previously at the Monetary Authority of Singapore (MAS) where she spent the past 15 years in the supervision of capital markets as well… Read More