Asia

September 29, 2017 @ 6:47 am By JD Alois  |  

South Korea has announced it will ban all Initial Coin Offerings (ICOs) following a similar action taken  by China. According to a report in Reuters, The Financial Services Commission all ICOs will be halted and trading in cryptocurrencies, such as Bitcoin and Ethereum, must be… Read More

September 28, 2017 @ 11:23 am By Erin Hobey  |  

MoneyOnMobile, Inc. (OTCQX: MOMT) announced an agreement with ShopClues, one of India’s largest e-commerce marketplaces, to enable the in-store purchase of ShopClues products using the MoneyOnMobile platform at any of its participating 335,000 retailers. “The alliance with MoneyOnMobile is in sync with ShopClues’ vision of… Read More

September 27, 2017 @ 1:25 pm By JD Alois  |  

Funding Societies, Singapore’s and Southeast Asia’s SME crowdfunding platform, has announced the launch of its new chatbot “Miyu”. This is described as the first such chatbot created by a crowdfunding company in Southeast Asia. Miyu was jointly developed by two Singapore Management University interns at… Read More

September 27, 2017 @ 12:33 pm By Samantha Hurst  |  

Earlier this month, Deloitte announced the launch of its regional blockchain lab located in Hong Kong. According to the company, this new lab will implement and deploy Distributed Ledger Technology (DLT) for corporate clients across the region. Joe Guastella, Deloitte Global Consulting Leader of Financial Services… Read More

September 27, 2017 @ 10:27 am By Samantha Hurst  |  

On Wednesday, Deloitte announced the winners of the inaugural Technology Fast 20 Hong Kong program. The top three companies are WeLab Holdings Limited, SenseTime Group Inc., and GoGo Tech Holdings Limited. While sharing details about the program, Philip Law, Deloitte TF20 Hong Kong Program Leader,… Read More

September 26, 2017 @ 2:33 pm By Samantha Hurst  |  

San Francisco-based fintech Ripple has announced the opening of its new Singapore office. This news comes just one month after the company opened its India office. While sharing details about the new office, Dilip Rao, managing director for Ripple APAC, reportedly stated: “Singapore is leading the… Read More

September 26, 2017 @ 12:21 pm By JD Alois  |  

Another day, another challenge for the cryptocurrency world. Bloomberg is out with report that Singapore banks are quietly closing bank accounts of some cryptocurrency and payment firms. Singapore regulatory authorities recently issued a cautionary statement on Initial Coin Offerings (ICOs), just like the rest of… Read More

September 25, 2017 @ 11:15 am By JD Alois  |  

The NEM.io Foundation, a group that has created a peer-to-peer blockchain platform, is holding a series of events for the NEM community and newcomers to the blockchain ecosystem. Singapore based NEM provides an “out-of-the-box” blockchain solution, and its series of local events and global webinars… Read More

September 25, 2017 @ 10:49 am By Samantha Hurst  |  

Lending app MicroMoney recently announced plans to raise $30 million through its upcoming Initial Coin Offering (ICO), which will launch next month. Founded in 2015, Micro Money describes itself as a company that is focused on micro-financing in the online money lending industry and states that… Read More

September 25, 2017 @ 7:44 am By JD Alois  |  

FundedHere, a Singapore-based crowdfunding platform, has successfully raised S$ 505,500 for two local startups. Both campaigns included the pairing of professional investors with individuals not classified as Accredited Investors (AI).  This is a first for FundedHere and follows a recent global trend where investment crowdfunding… Read More

September 24, 2017 @ 1:47 pm By JD Alois  |  

The International Organization of Securities Commissions (IOSCO) held a meeting this past week of the Growth and Emerging Markets (GEM) Committee. This committee is the largest within IOSCO, representing over 75% of their membership. Ranjit Ajit Singh, Chairman, Securities Commission, Malaysia, and Vice Chair of… Read More

September 22, 2017 @ 9:12 pm By Xu Gao  |  

China Takes Strict Control Over Consumer Credit, Forbidding it to Enter the Real Estate Market It is reported on September 20th that the Guangzhou branches of PBOC and CBRC have jointly issued a statement about consumer credit regulation, forbidding it to enter the real-estate market…. Read More

September 21, 2017 @ 1:34 pm By Erin Hobey  |  

The Financial Services Agency of Japan (FSA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) announced the completion of a framework for cooperation to promote innovation in financial services in Japan and ADGM. This Cooperation Framework recognizes the global nature of… Read More

September 21, 2017 @ 12:22 pm By Erin Hobey  |  

WorldRemit, a digital money transfer company, has launched in Malaysia following the company’s acceptance as one of only four initial entrants into Bank Negara’s Financial Technology Regulatory Sandbox in June.  Ridzuan Aziz, a senior Malaysian business leader with experience in compliance advisory and fintech, has… Read More

September 21, 2017 @ 10:34 am By Samantha Hurst  |  

On Wednesday, Denmark-based blockchain company OpenLedger announced it has teamed up with MVP Asia Pacific to launch a new blockchain program, OpenLedger MVP Blockchain Innovation. The program is offered to universities worldwide and will have accredited blockchain-based courses and program. The companies explained: “Since cryptocurrencies such… Read More

September 21, 2017 @ 10:31 am By JD Alois  |  

Fintech Bridge is Topic of Focus The UK government will host a “GREAT Festival of Innovation” in Hong Kong to showcase UK innovation and technology to the world. The announcement was shared by International Trade Secretary Dr Liam Fox today. Total bilateral trade between the UK… Read More

September 21, 2017 @ 8:54 am By JD Alois  |  

China is the biggest kid on the block when it comes to the emerging alternative finance market in the Asia Pacific region. In fact, China has the largest alternative finance market in the world driven by a fast growing economy, a highly connected population via… Read More

September 21, 2017 @ 7:28 am By JD Alois  |  

The Financial Conduct Authority (FCA) has entered into a co-operation agreement with the Hong Kong Insurance Authority (IA) designed to enhance collaboration in supporting Fintech innovation.  The FCA explains the agreement includes information sharing and mutual referrals of Fintech firms looking to enter into either… Read More

September 20, 2017 @ 9:18 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has created an international advisory panel for cyber security – launched in recognition of the shifting environment of financial services as increasingly all services are moving online. The newly formed panel is comprised of cyber security thought leaders from… Read More

September 20, 2017 @ 3:00 am By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF) is out with their 2nd annual report quantifying the growth of alternative finance for the Asia Pacific Region in 2016. Entitled, “Cultivating Growth,” the benchmarking report shows an emerging industry that grew dramatically versus year prior as it… Read More