Asia

July 26, 2019 @ 2:20 am By Cali Haan  |  

Justin Sun, founder of the cryptocurrency network TRON (known as ‘Wave Field’ in China), has apologized on Chinese social media for “vulgar” and “out of control” marketing of his lunch with famous value investor Warren Buffet, Bloomberg reports. “(I) would like to express my sincere… Read More

July 25, 2019 @ 11:13 am By JD Alois  |  

Thailand’s Ministry of Finance has granted Huobi a digital asset trading license. This will be the 5th such license approved in Thailand. The license allows Huobi to trade in tokens and fiat. In May of 2018, Thailand announced that only compliant and approved platforms could… Read More

July 24, 2019 @ 2:53 pm By Samantha Hurst  |  

  Arival, a Singapore-based fintech bank for businesses and entrepreneurs, has launched an equity crowdfunding campaign on Crowdcube to raise a minimum of £700,000 in funding. The startup is currently offering 5.51% of equity at a £12,012,061 pre-money valuation. The initiative’s launch comes just a… Read More

July 23, 2019 @ 9:30 am By JD Alois  |  

MoneyLion has raised $160 million in funding. MoneyLion previously revealed $60 million of this amount but has since added $100 million as part of Series C funding round. MoneyLion is an entrant in the hot challenger bank marketplace. It provides its banking services via a… Read More

July 23, 2019 @ 1:03 am By Cali Haan  |  

Data from the Korean ministry of Justice indicates that South Koreans lost $2.7 billion USD (2.7 trillion KRW) in cryptocurrency scams between July 2017 and June 2019, Korea Herald reports. The ministry also said it has indicted and detained 132 individuals accused of cryptocurrency fraud and… Read More

July 22, 2019 @ 4:14 pm By Samantha Hurst  |  

Following the news that Indian “blockchain lawyer” Varun Sethi leaked a copy of draft legislation proposing a ban on cryptocurrencies in India, India Minister of State for Finance Anurag Thakur reportedly stated there is yet to be an official ban on cryptocurrency in India. According… Read More

July 22, 2019 @ 11:17 am By Samantha Hurst  |  

Paymate, an India-based B2B payments platform, has reportedly secured $25 million through its Series D funding round, which included participation from credit card giant, Visa, as well as other investors like Recruit Strategic Partners (Venture capital Arm of Recruit Co. Ltd. Japan), Brand Capital, existing… Read More

July 22, 2019 @ 10:49 am By JD Alois  |  

Not too long ago, the Chinese peer to peer lending industry was growing at a breakneck speed and the largest online lending market in the world. This sector of Fintech was the enormous in China as big names and aspiring platforms moved quickly to fill… Read More

July 22, 2019 @ 8:34 am By Samantha Hurst  |  

OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant Ping An Group, announced on Monday it has formed a new partnership with UnionBank’s fintech subsidiary UBX to co-create a blockchain-enable platform for MSMEs in the Philippines. According to the duo, this new partnership… Read More

July 20, 2019 @ 11:40 am By Cali Haan  |  

Wong Ching-Kit, a flashy 25-year old cryptocurrency promoter who tried to drum up business by throwing at least $6000 in HK $100 bills off a high-rise in one of Hong Kong’s poorest districts, has received a sentence of 10-day’s imprisonment suspended for 2 years, South… Read More

July 19, 2019 @ 1:28 pm By Samantha Hurst  |  

Digital money transfer service MoneyGram (NASDAQ: MGI) announced on Friday it has formed a new partnership with Korean remittance startup, Sentbe. MoneyGram reported the collaboration between it and Sentbe aligns with MoneyGram’s goal of providing consumers with an expanded range of digital money transfer options…. Read More

July 19, 2019 @ 10:09 am By Samantha Hurst  |  

Hong Kong-based cryptocurrency platform Crypto.com announced earlier this week it is now shipping its MCO Visa Cards to customers in the U.S.  According to Crypto.com, the MCO Visa Card is a prepaid card that features high-end metal cards with no annual or monthly fees, up… Read More

July 19, 2019 @ 7:43 am By Cali Haan  |  

Indian “blockchain lawyer” Varun Sethi has leaked a copy of draft legislation proposing a ban on cryptocurrencies in India. Text from the eighth chapter, six-part and 27 clause bill in its present iteration reads as follows: “No person shall mine, generate, hold, buy or sell… Read More

July 19, 2019 @ 1:30 am By Cali Haan  |  

On the heels of a controversial debate held recently in Taipei, crypto skeptic and NYU Professor Nouriel Roubini has written an article, “The Great Crypto Heist,” to come back again against, “Some of the biggest crypto players…openly involved in systematic illegality.” Roubini singles out Hong Kong-headquartered… Read More

July 18, 2019 @ 7:59 am By Samantha Hurst  |  

China Lending Corporation (NASDAQ: CLDC), a non-bank financial corporation servicing micro, small and medium-sized enterprises in China, announced earlier this week it has entered into a five-year strategic partnership agreement with Rui Xin Insurance Technology (Ningbo) Co., Ltd, a fintech company providing comprehensive insurance solutions…. Read More

July 18, 2019 @ 6:30 am By JD Alois  |  

ZhongAn Online P & C Insurance Co. Ltd. (6060:HK), a Chinese Insurtech backed by Alibaba founder Jack Ma and Tencent founder Pony Ma, has announced multiple changes to its executive leadership. ZhongAn went public in Hong Kong in 2017. At that time, it was Hong… Read More

July 18, 2019 @ 1:06 am By JD Alois  |  

The IOST Foundation has “completed an integration” with Eastern European rewards/donation platform Boomstarter, according to a note from the company. The goal is for the two entities to make $IOST a global fundraising currency to support entrepreneurs and builders in an international expansion plan spanning… Read More

July 17, 2019 @ 5:35 pm By JD Alois  |  

The International Monetary Fund (IMF) has completed its Financial Sector Assessment Program for Singapore and has reportedly “reaffirmed” Singapore’s financial sector oversight to be “among the best globally,” according to a release. The IMF said the economic fundamentals of Singapore were strong and its economic… Read More

July 17, 2019 @ 2:19 pm By JD Alois  |  

The Monetary Authority of Singapore (MAS) has signed a “Fintech Cooperation Agreement” with the Central Bank of Kenya. The agreement was finalized during the inaugural Afro-Asia Fintech Festival in Nairobi, Kenya. The two entities said they will collaborate to develop digital infrastructure services including KYC… Read More

July 16, 2019 @ 10:19 pm By JD Alois  |  

GOJEK, a Southeast Asian unicorn, has received backing from global credit and payments provider Visa. According to a release, Visa participated in GOJEK’s ongoing Series F funding round for an undisclosed amount.  Other investors include Mitsubishi Motors Corporation, Mitsubishi Corporation, and investment from Mitsubishi UFJ… Read More