Asia

July 4, 2019 @ 1:16 pm By JD Alois  |  

The Securities Commission Malaysia (SC) is out with another warning cautioning investors about initial coin offerings and digital asset exchanges which have not been authorized. The SC says they have seen an increase in both complaints and queries from the public about these crypto offerings…. Read More

July 4, 2019 @ 7:55 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has issued a statement on the launch off the Bank for International Settlements (BIS) Innovation Hub opening in Hong Kong. BIS announced on June 30th its intent to open several Fintech focused hubs with Hong Kong becoming the first…. Read More

July 4, 2019 @ 1:13 am By Cali Haan  |  

Officials at the Bank of Japan, Japan’s central bank, are reportedly concerned that Facebook’s new “difficult to regulate” cryptocurrency could have a calamitous effect on global financial systems, all while exploiting those very systems without paying the costs, Nikkei Asian Review (NAR) reports. Legislators in… Read More

July 2, 2019 @ 3:08 pm By Samantha Hurst  |  

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced on Tuesday it is set to launch a new consumer installment financing platform, called “Hexin Installments.” According to Hexindai, the platform will offer carefully curated categories for installment financing, such as electronic products, education, and travel products… Read More

July 2, 2019 @ 1:59 pm By Samantha Hurst  |  

Kyber Network, a Singapore-based decentralized cryptocurrency exchange, announced on Tuesday it has surpassed 827,000 ETH in total transaction volume, and one million tokens burned within the first year of launching its platform. Kyber Network reported that fifty-seven blockchain-based applications including MyEtherWallet, Decentraland, and Coinbase wallet… Read More

July 2, 2019 @ 2:30 am By Cali Haan  |  

Citing ongoing pressure from unfavourable government actions, Indian cryptocurrency trading platform Koinex has announced it will “permanently disable” trading services on June 27th, 2019. “A snapshot of the wallet balances at this time will be taken for record, and the effort to disburse INR balances… Read More

July 1, 2019 @ 3:26 pm By Samantha Hurst  |  

Singapore Life, a Singapore-based insurtech startup, has reportedly received a $90 million investment from Sumitomo Life Insurance. Founded in 2014, Singapore Life describes itself as a life insurance company fully licensed by the Monetary Authority of Singapore that is built on the belief that “the… Read More

July 1, 2019 @ 3:14 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) will issue five new “digital bank licenses” according to the financial regulator. MAS said this was in addition to any existing Singapore banks which may also offer digital banking under existing rules. MAS said the new rules extend digital… Read More

June 30, 2019 @ 10:25 pm By Samantha Hurst  |  

The Board of the Bank for International Settlements (BIS) announced on Sunday they have approved the establishment of a BIS Innovation Hub to foster international collaboration on fintech within the central banking community complementing the already well-established cooperation within the existing committees. The Board reported… Read More

June 29, 2019 @ 8:59 am By JD Alois  |  

The V20 Summit, a crypto focused event taking place alongside the G20 in Japan, has announced a Memorandum of Understanding (MOU) signed by a “group of key national trade associations” to create a single association to provide a unified, global voice representing “Virtual Asset Service… Read More

June 29, 2019 @ 8:31 am By Xu Gao  |  

PBC, CBIRC Unveil White Paper on Financial Services for Smaller Businesses To comprehensively sum up the new policies, new practices and new achievements on financial services for SMBs in 2018, and to better respond to social concerns, the PBC, in cooperation with the CBIRC and… Read More

June 29, 2019 @ 8:10 am By Cali Haan  |  

On Thursday, a hacker “exploited a vulnerability in (the Bitrue exchange’s) Risk Control team’s 2nd review process to access the personal funds of about 90 Bitrue users,” according to a tweet thread from Singaporean crypto exchange Bitrue. This initial attack was quickly repeated on the… Read More

June 28, 2019 @ 4:50 pm By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Friday it expanded of its payout product in the Philippines. Wirecard reported its cards may be used in a wide range of industries. Cardholders can use the contactless cards to carry out seamless transactions… Read More

June 28, 2019 @ 3:22 am By JD Alois  |  

Capital Markets Malaysia, an affiliate of the Securities Commission Malaysia (SC), hosted an event to generate greater awareness of capital raising and investment opportunities in the Malaysian capital market. The target audience was micro, small-and-medium enterprises (MSMEs); and entrepreneurs. The half-day forum focused on how… Read More

June 26, 2019 @ 7:58 am By JD Alois  |  

ICONLOOP, one of the largest blockchain enterprises in South Korea, has received regulatory approval for its ID services, according to a note from the company. ICONLOOP uses a proprietary blockchain engine “loopchain.” ICONLOOP has created a blockchain based digital ID service that may be used… Read More

June 25, 2019 @ 12:15 pm By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has posted a deck on GFin or the Global Financial Innovation Network. Hong Kong has emerged as a leading Fintech hub having embraced innovation in financial services. GFiN was launched by the UK Financial Conduct Authority (FCA) a bit… Read More

June 25, 2019 @ 7:20 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Tuesday it has formed a new partnership Bank of Ganzhou to establish a new fintech research and development center.  PINTEC reported that through the partnership, it and Bank of Ganzhou will jointly establish a fintech research… Read More

June 24, 2019 @ 8:30 pm By JD Alois  |  

TrustToken is issuing a stablecoin backed by Hong Kong dollars. TrustToken says this is the first stablecoin pegged to an Asian currency. TrueHKD will be pegged one-to-to one with the Hong Kong dollar that is currently worth about USD $0.13. TrustToken has partnered with Legacy… Read More

June 24, 2019 @ 12:35 pm By JD Alois  |  

Later this week the V20 conference will take place alongside the bi-annual G20 event being hosted in Japan. The G20 is, of course, the global powwow of 19 leading nations plus the EU. While mostly a lot of hobnobbing and back-room policy wrangling, while in… Read More

June 24, 2019 @ 8:20 am By JD Alois  |  

The peer to peer lending market in China was at one time similar to the ridiculous ICO market. Full of big promises that ended up being empty commitments. Allegations of fraud in the P2P sector in China has been far larger than the ICO sector… Read More