Asia

February 22, 2019 @ 11:46 am By Samantha Hurst  |  

Mizuho Bank, Ltd., a core subsidiary of Mizuho Financial Group, Inc., announced earlier this week it is set to launch a new bank digital currency platform, J-Coin Pay, in cooperation with approximately 60 other financial institutions. According to Mizuho Bank, J-Coin Pay employs QR codes1… Read More

February 21, 2019 @ 10:45 pm By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Thursday it is teaming up with  Xiaomai Zhujiao, a provider of education management software systems in China, to develop a consumer financing solution for education and training institutions. PINTEC reported that it will cooperate with Xiaomai Zhujiao to… Read More

February 21, 2019 @ 4:14 pm By Samantha Hurst  |  

OneConnect, a subsidiary of China’s insurance giant, Ping An, announced on Thursday it has commenced operations in Indonesia to enable local banks and financial institutions to accelerate their efforts in digitization of financial services and move towards a more inclusive financial industry. This news comes just a few months… Read More

February 21, 2019 @ 7:31 am By Cali Haan  |  

Citing cybercrime as the “biggest threat to digital India,” Indian Union Home Minister Rajnath Singh inaugurated a new national cyber forensic lab and Delhi Police cybercrime unit, ‘CyPAD,’ on Monday, The Hindu reports. According to the outlet, Minister Singh described cybercrime as “a challenge to policing,”… Read More

February 20, 2019 @ 11:46 am By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard announced on Wednesday it has formed a new partnership with Tirol Werbung, the tourism organization of the Austrian state of Tyrol, are launching a new China Pay Initiative together with partners Innsbruck Tourism, Kitzbühel Tourism, the Kufsteinerland Tourism… Read More

February 20, 2019 @ 3:04 am By Cali Haan  |  

Police in India have arrested four and are seeking a fifth suspect whom they believe used a cryptocurrency scam to steal 1 billion rupees (nearly $14 million) from investors in Mumbai, Surat, Gujarat, and Uttar Pradesh, Times of India reports. The men, Sanjay Sontakke, 44; Rajnikant Kumavat, 46; Alpesh… Read More

February 20, 2019 @ 2:55 am By Cali Haan  |  

30 investors in Thailand who say they were defrauded of 42 million baht ($1.34 million USD) by the owner of a Bitcoin mining scheme formally complained Monday to the Thai Technology Crime Suppression Division, The Bangkok Post reports. Police say a total of 140 investors have now… Read More

February 18, 2019 @ 7:01 pm By JD Alois  |  

The Chinese Ministry of Public Security has revealed that over 380 peer to peer lending platforms are currently under investigation. A release by Xinhua on Sunday said that about USD $1.5 billion in P2P lending assets were involved. Apparently, the Chinese police have seized or frozen cash,… Read More

February 18, 2019 @ 3:54 pm By Samantha Hurst  |  

Bitmain Technologies, a China-based consumer-grade ASIC miner, announced on Monday the launch of its next-generation 7nm ASIC chip, BM1397. According to Bitmain, the new chip achieves new feats in performance, chip area and energy efficiency for mining cryptocurrencies such as Bitcoin (BTC) and Bitcoin Cash (BCH),… Read More

February 18, 2019 @ 2:31 pm By Samantha Hurst  |  

Personal finance media platform DollarsandSense.sg has acquired the Singapore-based fintech startup, fundMyLife, Reuters has reported. Founded in 2017, fundMyLife describes itself as a platform that intelligently connects consumers with financial advisers based on the financial planning questions that they ask. “fundMyLife connects your financial planning questions to the… Read More

February 16, 2019 @ 8:50 am By Xu Gao  |  

Beijing to Start to Test “Personal Credit Score” System On January 30th, the “Opinions on Strengthening the Management of Fine Urban Management” was officially announced. According to the document, Beijing will start to test a “Personal Credit Score” system to raise the awareness for integrity… Read More

February 15, 2019 @ 12:49 pm By JD Alois  |  

Hong Kong may have been slow to join the financial innovation party but what it may have lacked in early awareness has now been made up for in fostering a booming Fintech ecosystem. The private-public partnership that has fueled sector growth continues to drive interest… Read More

February 15, 2019 @ 11:05 am By Samantha Hurst  |  

Cryptocurrency exchange Bit Mon Ex recently announced it has teamed up with Bittrex to launch its digital asset trading platform in Mongolia. Bit Mon Ex claimed that through the partnership, Bit Mon Ex will use BitFinex technology to offer customers a secure, reliable, and advance… Read More

February 14, 2019 @ 3:24 pm By Cali Haan  |  

After many were forced out and ruined by floods last year, tenacious crypto miners are nonetheless poised to (re)establish operations in the mountainous Chinese province of Sichuan. They plan to do so just ahead of May to October’s rainy season when the price of electricity… Read More

February 14, 2019 @ 11:51 am By Cali Haan  |  

Regulators from the Indonesian Commodity Futures Trading Agency, Bappebti, have passed a law requiring individuals and firms brokering cryptocurrency futures products to maintain minimum balances of 1 trillion rupiahs ($71.17 million). According to Reuters, the rule has been implemented, “To encourage trade and protect customers.” The requirement,… Read More

February 13, 2019 @ 1:08 am By Cali Haan  |  

The Financial Stability Board‘s (FSB) Randal K. Quarles has touched on the need for a global regulatory framework for cryptocurrencies in a speech delivered in Hong Kong February 10th at the Bank for International Settlements Special Governors Meeting. Quarles is the Vice Chairman for Supervision on… Read More

February 12, 2019 @ 10:37 pm By JD Alois  |  

The Hong Kong Secretary for Financial Services and the Treasury, James Lau, is visiting Ireland to foster closer financial co-operation between the two countries. According to a release, Lau met with the Minister of State at the Department of Finance and Public Expenditure and Reform of… Read More

February 12, 2019 @ 9:27 am By Samantha Hurst  |  

Standard Chartered Bank announced on Tuesday it signed a memorandum of understanding (MOU) with Linklogis to explore opportunities to enhance its supply chain financing proposition and deepen client relationships in China. Standard Chartered reported that it will use Linklogis’ force as a digital blockchain-enabled supply chain… Read More

February 12, 2019 @ 8:59 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF), the leading research institute for all things Fintech,  has launched its first survey of Regtech (regulatory technology) and Suptech (supervisory technology) firms. The new report is being completed in partnership with EY Japan. CCAF states that fieldwork is… Read More

February 12, 2019 @ 3:11 am By Erin Hobey  |  

According to Innovate Finance‘s new report 2018 FinTech VC Investment Landscape, investment in UK Fintech rose by 18% to $3.3 billion in 2018. Some additional highlights from the report include: Growth private equity investment rose 57% to $1.6 billion, while venture capital dipped to $1.7 billion… Read More