Asia

January 6, 2025 @ 8:50 pm By Omar Faridi  |  

Sixteen years ago, Accel embarked on a journey to partner with founders across India—continuing the firm’s history of partnering with founders on a global scale. Accel is now announcing their eighth early-stage fund, a $650 million commitment to empower category-defining startups; companies that will “set… Read More

January 6, 2025 @ 4:20 pm By Omar Faridi  |  

SC Ventures, the fintech investment and incubation division of Standard Chartered, has reportedly launched Labamu, which is described as an invoicing and billing platform for SMEs that are based in the APAC region. Starting in Indonesia, Labamu will reportedly provide SMEs with digital billing, catalogue,… Read More

January 5, 2025 @ 7:10 pm By Omar Faridi  |  

Right before of its planned initial public offering (IPO), Fintech company OfBusiness has unveiled the launch of Nexizo.AI. According to the announcement, this platform allows for the discovery of new opportunities, such as potential buyers, obtaining key market insights for more competitive intelligence as well… Read More

January 5, 2025 @ 7:05 pm By Michael Wong  |  

Malaysia’s communications regulator has granted operating licenses to two prominent technology firms, marking a significant step in the country’s efforts to tighten oversight of internet messaging and social media platforms. According to a statement issued by the Malaysian Communications and Multimedia Commission (MCMC), WeChat, owned… Read More

January 4, 2025 @ 9:25 am By Omar Faridi  |  

The Asia-Pacific (APAC) region topped the global initial public offering (IPO) market, with 604 companies going for public issues to raise “a total of $33.9 billion” for the calendar year 2024. The performance was driven by strong market sentiment, a favorable macroeconomic environment, and a… Read More

January 2, 2025 @ 8:40 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) licensed “Hiberbay Ink Al-Saoudia for IT Systems” to provide E-wallet solutions. With “Hiberbay Ink Al-Saoudia for IT Systems,” there are now 27 licensed firms providng payments services across the Kingdom of Saudi Arabia. This decision reflects SAMA’s aim to support… Read More

January 2, 2025 @ 4:53 pm By Omar Faridi  |  

The initial public offering (IPO) market in the Asia-Pacific (APAC) region has demonstrated resilience in 2024, with a “sustained” upward trajectory despite a “high inflationary environment” and geopolitical tensions. This, according to a new research report. The APAC market witnessed a significant rise in IPO… Read More

January 2, 2025 @ 4:49 pm By Omar Faridi  |  

WeLab noted that in 2024, their regional expansion strategy has achieved considerable success, with the group now serving nearly 70 million users across Hong Kong, Mainland China, and Indonesia. According to the update from WeLab, this momentum propels them closer to their ambitious goal of… Read More

January 1, 2025 @ 11:10 am By Omar Faridi  |  

The Reserve Bank of India (RBI) has recently released its Financial Stability Report. The update highlights key developments in the country’s financial ecosystem and what we can expect in 2025. Jaya Vaidhyanathan, CEO, BCT Digital has shared insights with CI on the nation’s banking sector…. Read More

January 1, 2025 @ 6:19 am By Omar Faridi  |  

Aditya Birla Capital Limited (ABCL) has announced a new milestone by becoming the first BFSI company to “go live” on all three core financial services – lending, insurance, and mutual fund investments, available on the Open Network for Digital Commerce (ONDC) platform. This latest development… Read More

December 31, 2024 @ 4:41 pm By Omar Faridi  |  

Mastercard (NYSE: MA) has announced a partnership with Dgpays, a financial technology provider, to advance the adoption of digital payment solutions for consumers and businesses across the EEMEA region. As part of the partnership, Mastercard and Dgpays will co-develop payment technologies and loyalty solutions tailored… Read More

December 30, 2024 @ 8:33 am By Omar Faridi  |  

A total of 2,313 venture capital (VC) funding deals were announced in China during Jan-Nov 2024, while the total disclosed funding value of these deals stood at $32.3 billion, a new report has revealed. This represents a year-on-year (YoY) decline of 23.1% in VC deal… Read More

December 29, 2024 @ 9:38 pm By Michael Wong  |  

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd announced that it has invested in the Malaysia-based private equity Cambrian Fund and U.S.-based artificial intelligence firm Syntiant Corp, in a move aimed at boosting Malaysia’s position in advanced manufacturing and semiconductor technologies. In a statement, Khazanah said… Read More

December 29, 2024 @ 9:32 pm By Omar Faridi  |  

BillMart Fintech and Eqaro Guarantees have teamed up to provide  offer guarantee solutions intended to build more trust between lenders and businesses in the Indian trade finance sector. With this latest collab, Eqaro’s guarantee products will now be integrated into BillMart’s Fintech platform, the firms… Read More

December 29, 2024 @ 8:08 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) licensed “Majd Saudi Payments” to provide E-wallet solutions. With Majd Saudi Payments, there are now “26 licensed companies offering payment services” in Saudi Arabia. This decision reflects SAMA’s goal to support the payments sector, increase the efficiency of financial transactions,… Read More

December 29, 2024 @ 6:11 pm By Omar Faridi  |  

PDX Global, a digital banking and payments developer for the crypto economy, announced a successful round of tests of PDX Beam, the end-to-end payment transaction process and seamless crypto-to-cash payments platform for merchants and consumers. PDX has reportedly launched a live public beta test program… Read More

December 29, 2024 @ 5:06 pm By Omar Faridi  |  

Southeast Asia faced a challenging year in 2024, marked by a “significant contraction” in funding, amid a weak global economy, a new report revealed. According to Tracxn‘s report, prepared by industry analysts, the region’s tech ecosystem experienced a sharp decline in financial inflows and major… Read More

December 29, 2024 @ 1:44 pm By Michael Wong  |  

Bybit Technology Limited, formerly Bybit Fintech Limited, and its Chief Executive Officer Ben Zhou (Yuchen Zhou), have been reprimanded by the Securities Commission Malaysia (SC) for running a digital asset exchange (DAX) without registration. The SC said in a statement that both Bybit and Zhou… Read More

December 29, 2024 @ 1:38 pm By Omar Faridi  |  

The Financial Services Regulatory Authority of ADGM (FSRA) has signed a Memorandum of Understanding (MOU) with the UAE Ministry of Interior, to enhance coordination in combating financial crime related to virtual assets. The agreement aims to facilitate the exchange of information, strengthen risk mitigation frameworks,… Read More

December 26, 2024 @ 8:26 pm By Omar Faridi  |  

Zid, Saudi Arabia’s commerce enablement platform, has unveiled ‘Total Commerce’ – which is described as a unified ecosystem redefining digital retail – at Ripple 2024. The development is said to be important for retail innovation in Saudi Arabia and across the region as well. Sultan… Read More