Asia

September 26, 2024 @ 3:18 pm By Omar Faridi  |  

Chainalysis recently shared key insights from its 2024 Geography of Cryptocurrency Report. According to the Chainalysis research report, the MENA region ranks as the seventh-largest crypto market globally in 2024, with “an estimated $338.7 billion in on-chain value received between July 2023 and June 2024,… Read More

September 25, 2024 @ 7:21 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) announced today the establishment of a Cyber and Technology Resilience Experts (CTREX) Panel. The Panel replaces MAS’ Cyber Security Advisory Panel, with an expanded mandate to “cover technology resilience which, together with cybersecurity, significantly underpins the operational resilience of… Read More

September 25, 2024 @ 7:24 am By Omar Faridi  |  

The Hong Kong Monetary Authority (HKMA) commenced Phase 2 of the e-HKD pilot program and is expanding Project e-HKD to explore new forms of digital money. The HKMA in Hong Kong revealed on September 23 that it officially began Phase 2 of the e-HKD Pilot… Read More

September 23, 2024 @ 5:33 pm By Omar Faridi  |  

Stonepeak, an alternative investment firm specializing in infrastructure and real assets, today announced the opening of an office in Abu Dhabi, United Arab Emirates (UAE), having received the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM)… Read More

September 23, 2024 @ 3:16 pm By JD Alois  |  

Online lender Biz2X says it has partnered with Watermelon Ecosystem. The platform provides services for restaurateurs and other F&B entrepreneurs in the MENA region. Biz2X will power business financing for businesses that use the Watermelon platform. Merchants selling inventory and other goods or services on… Read More

September 22, 2024 @ 7:39 pm By Michael Wong  |  

Malaysian Fintech major TNG Digital is exploring a potential domestic initial public offering (IPO) that could raise over $300 million within the next two to three years, according to two sources familiar with the matter, Reuters reported. The sources indicated that TNG Digital, which owns… Read More

September 22, 2024 @ 7:21 pm By Michael Wong  |  

HSBC has successfully tested the use of quantum-secure technology for the buying and selling of tokenised physical gold, marking a significant advancement in protecting critical financial applications from potential future quantum computing threats. This milestone is part of HSBC’s ongoing efforts to safeguard digital assets… Read More

September 20, 2024 @ 8:20 pm By Michael Wong  |  

Lighthub Asset, a Thai Fintech firm, and WeLab, a pan-Asian fintech platform, have submitted a joint application for a virtual banking license with the Bank of Thailand (BoT). The result of the application is expected in the first half of 2025, according to a statement… Read More

September 20, 2024 @ 7:21 pm By Michael Wong  |  

A joint survey conducted by the Securities and Futures Commission (SFC) and the Hong Kong Monetary Authority (HKMA) revealed a 14% increase in total transactions of non-exchange-traded investment products by licensed corporations (LCs) and registered institutions (RIs) in 2023. The total transaction amount reached $4,338… Read More

September 20, 2024 @ 3:07 pm By JD Alois  |  

Tether has announced a $1.5 million investment in Sorted Wallet in a move that is being described as boosting their presence in Africa and Southern Asia. Sorted Wallet is said to be a platform that serves the under/non-banked segment of the population. The application is… Read More

September 20, 2024 @ 1:49 am By Omar Faridi  |  

Crypto.com has received full approval to provide payment service provider (PSP) services from the Central Bank of Bahrain through its subsidiary registered in the Kingdom of Bahrain under the commercial name “FORIS GFS BH B.S.C. CLOSED”, adding to the company’s significant regulatory milestones in the… Read More

September 19, 2024 @ 9:44 pm By Omar Faridi  |  

Eastern Asia is the sixth largest cryptocurrency economy in the world this year, accounting for 8.9% of global value received between July 2023 and June 2024. This, according to an update from Chainalysis. Chainalysis noted that the region received “more than $400 billion in on-chain… Read More

September 19, 2024 @ 9:41 pm By Omar Faridi  |  

Taurus is pleased to announce a strategic partnership with the Qatar Financial Centre (QFC) Authority as part of the QFC Digital Assets Lab. This strategic collaboration reinforces Taurus’ commitment “to better serving banks and financial institutions across Qatar and the Middle East, delivering tailored digital… Read More

September 19, 2024 @ 9:35 am By Omar Faridi  |  

Mesh, the modern connectivity layer for crypto that makes transfers and account aggregation seamless, is thrilled to announce its strategic partnership with CoinMENA FZE, a digital assets trading platform in the Middle East. This collaboration aims to enhance digital asset transfer services by “allowing CoinMENA’s… Read More

September 19, 2024 @ 8:56 am By Omar Faridi  |  

Vietnam Maritime Commercial Joint Stock Bank (HoSE: MSB) has signed a strategic cooperation agreement with TerraPay, a global money movement company. This collaboration will bring digital payment solutions and data capabilities “to help MSB enhance efficiency and offer the best payment service experience to customers… Read More

September 17, 2024 @ 6:22 am By Omar Faridi  |  

Revolut is reportedly preparing for a 2025 launch in India. Potentially targeting millions of India’s consumers in a vital test for the growth strategy of Europe’s most valuable Fintech, Revolut will aim to take advantage of establishing operations in one of the world’s fastest-growing economies. London-headquartered Revolut… Read More

September 16, 2024 @ 9:20 pm By Omar Faridi  |  

Maybank, a dedicated banking partner to more than 1 million small and medium enterprises across ASEAN, today announced a strategic investment in Funding Societies | Modalku (Funding Societies), which is said to be the largest unified digital finance platform for micro, small and medium enterprises… Read More

September 16, 2024 @ 8:53 pm By Omar Faridi  |  

PGIM, the $1.33 trillion global investment management business of Prudential Financial, Inc., has received Financial Services Permission (FSP) to operate in Abu Dhabi Global Market (ADGM) and has opened a new office in Abu Dhabi, “located in the heart of the city’s financial district.” Establishing… Read More

September 16, 2024 @ 6:29 am By JD Alois  |  

Stablecoin issuer Circle has revealed a collaboration with Sony Block Solutions Labs. According to a release, the partnership aims to boost innovation in decentralized tech on Soneium, a public  Ethereum Layer-2 blockchain ecosystem. USDC, Circle’s dollar-based stablecoin, will be integrated into Soneium. Circle explains that… Read More

September 15, 2024 @ 9:40 pm By Michael Wong  |  

Bangladeshi consumer technology provider Pathao has announced raising $12 million in a pre-Series B funding round as the company shifts its focus towards fintech. The latest investment brings Pathao’s total capital raised to over $50 million, marking the largest pre-Series B funding for any Bangladeshi… Read More