Asia

August 3, 2019 @ 12:10 pm By Xu Gao  |  

People’s Bank of China Publishes Trial Regulatory Measures on Financial Holding Companies On July 26th, the People’s Bank of China (PBC) published the Trial Measures on Supervision and Regulation of Financial Holding Companies (Exposure Draft) (hereinafter referred to as the Measures) and sought for feedback… Read More

August 2, 2019 @ 10:32 am By JD Alois  |  

NGC Ventures, a crypto fund of one of a leading blockchain investment firm, has announced a strategic investment in crypto brokerage Troy Network. In a release, NGC said it led the multimillion-dollar investment with BlockVC. Troy Trade, part of the Troy Network, is a global… Read More

August 1, 2019 @ 11:20 pm By Cali Haan  |  

After its application to IPO in lapsed regulators’ hands last November in Hong Kong, Canaan, the world’s second-largest manufacturer of cryptomining hardware, has filed a confidential S-1 to pursue a US US initial public offering (IPO), according to Chinese media outlet Weixin reports. Canaan sells… Read More

August 1, 2019 @ 4:44 pm By Michael Ou  |  

“Regulation” is not often a word associated with “benefits” in blockchain and cryptocurrency circles. Indeed, many governments have been sharply criticised following the roll-out of regulatory guidelines addressing the flourishing blockchain industry. Some even suggest that it is a lack of regulation which has allowed… Read More

August 1, 2019 @ 12:06 pm By JD Alois  |  

SEC Commissioner  Hester Peirce is in Singapore, a noted Asian Fintech hub, talking about digital assets. Peirce, speaking at the SUSS [Singapore University of Social Sciences] Convergence Forum, addressed the audience about innovation – something that frequently makes regulators nervous. Change is hard. Alluding to… Read More

August 1, 2019 @ 8:37 am By Samantha Hurst  |  

China Finance Online Co. Limited NASDAQ GS:JRJC), a web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, announced on… Read More

August 1, 2019 @ 2:52 am By Cali Haan  |  

An unnamed OTC trading desk in Moscow is selling up to $30 million USD in “tethers” per day to Chinese merchants sending proceeds home, Coindesk reports. Until 2018, the favoured currency for this type of transacting was reportedly Bitcoin, but Chinese merchants have lately started dumping… Read More

July 31, 2019 @ 12:27 pm By JD Alois  |  

Huobi, a crypto exchange and digital asset ecosystem, has partnered with Global Digital Finance (GDF) to help establish best practices and standards for the emerging digital asset marketplace. GDF launched in the UK in 2018 and claims a good number of digital asset focused members…. Read More

July 31, 2019 @ 1:33 am By Cali Haan  |  

Korea’s central government has designated port city Busan as a “special free zone” for the development of blockchain technology (encrypted and distributed databases), but has stopped short of permitting ICO’s, FN News reports. The designation was made as part of a program implemented by the… Read More

July 30, 2019 @ 2:01 pm By Samantha Hurst  |  

Ripple, a provider of enterprise blockchain solutions for payments, announced on Tuesday it has expanded its University Blockchain Research Initiative (UBRI) to Japan. According to Ripple, the expansion brings on new partners including Kyoto University and the University of Tokyo. While sharing more details about… Read More

July 29, 2019 @ 1:44 pm By Samantha Hurst  |  

Tencent Holdings Limited, a leading provider of Internet value-added services based in China, announced on Monday its five-year partnership expansion with NBA in China. Tencent reported it will provide extensive NBA coverage on its platforms through the 2024-25 NBA season, including live NBA games, NBA… Read More

July 29, 2019 @ 1:23 pm By Samantha Hurst  |  

StashAway, a company that claims to be the first robo-adviser to receive a retail license in Singapore, announced on Monday it raised $12 million through its Series B funding round. Investors of the round include  Eight Roads and Asia Capital & Advisors! Eight Roads, the… Read More

July 29, 2019 @ 12:13 pm By JD Alois  |  

NGC Ventures has invested in “DeFi for enterprise” startup Helis Network. Singapore based Helis just closed on a $500,000 seed round. The NGC Ventures II fund is a “multi-strategy crypto fund” managed by the blockchain investment firms NGC Ventures. According to a release, additional investments… Read More

July 28, 2019 @ 10:44 pm By JD Alois  |  

The global Fintech build-out continues as investment continues at an accelerating pace and M&A is on track for all time highs. According to the quarterly Fintech report from FT Partners, Q2 2019 Fintech financing hit $10.9 billion – the second best quarter ever. M&As for… Read More

July 27, 2019 @ 2:52 pm By Cali Haan  |  

Another alleged principle promoter of the failed $4 billion USD Bitconnect cryptocurrency Ponzi (now attempting resurrection) has been arrested in India, India Times reports. Rakesh Savani was arrested in the coast city of Sujat in northwest India last Friday. Authorities have also seized property and… Read More

July 27, 2019 @ 2:41 pm By Xu Gao  |  

Peoples Bank of China Releases Measures for Further Opening up the Financial Sector In order to implement the decisions and arrangements of the CPC Central Committee and the State Council on further advancing opening-up, and according to the principle of taking actions “faster rather than… Read More

July 27, 2019 @ 11:56 am By Cali Haan  |  

Earlier this month, SGX, “a full-service equities, fixed income, derivatives, commodities, and foreign currency exchange,” welcomed 1exchange, the country’s first licensed private securities exchange for accredited investors. According to Investopedia, SGX formed when the Singapore Stock Exchange, the Singapore International Monetary Exchange and Securities Clearing… Read More

July 26, 2019 @ 7:00 pm By JD Alois  |  

Fraxtor Capital Private Limited, a real estate “co-investment” platform, reports that it has closed an equity round by investors backing a freehold development project in Singapore. Accredited investors could access the offering via the online platform. Incorporated in January 2017, Fraxtor stands for “Fractional Investors”… Read More

July 26, 2019 @ 6:40 pm By Samantha Hurst  |  

 Cheers Paytech, a Singapore-based fintech startup, announced this week has partnered with Mambu to provide the core banking technology for all wallet accounts to fuel growth. According to Cheers, this new collaboration will facilitate the backend movement of funds within the Cheers Wallet Engine. Founded… Read More

July 26, 2019 @ 8:45 am By Samantha Hurst  |  

China-based consumer finance platform LexinFintech announced on Friday it has been awarded the Best Lending Technology Initiative, Application or Programme in China by The Asian Banker. According to LexinFintech, The Asian Banker awards are generally viewed by executives as one of the most rigorous, prestigious and… Read More