Asia

July 3, 2024 @ 3:30 pm By Omar Faridi  |  

MultiSafepay (MSP), an Amsterdam-based payment service provider, and Antom global merchant payment services, a payment and digitization services provider under Ant International, announced that MultiSafepay has become a wholly-owned subsidiary of Ant International and will integrate with Antom to promote convenient, secure and accessible payment… Read More

July 2, 2024 @ 8:45 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) has reportedly permitted two new Fintech startups to test their innovative solutions in SAMA’s regulatory sandbox. As noted in the update from SAMA, “Sulfah for Finance” is authorized to launch a peer-to-peer (P2P) lending platform and “Wadaie for FinTech” to… Read More

July 2, 2024 @ 12:38 pm By Omar Faridi  |  

Paxos, the regulated blockchain & tokenization infrastructure platform, received full approval from the Monetary Authority of Singapore (MAS) for its Singapore entity, Paxos Digital Singapore Pte. Ltd. to “offer digital payment token services as a Major Payments Institution.” The approval enables Paxos to “issue stablecoins… Read More

July 2, 2024 @ 9:03 am By Omar Faridi  |  

On 1 July 2024, Clearstream introduced a direct link to South Korea with the Korea Securities Depository (KSD). This innovative link is expected to provide clients “with seamless market access to settle and safe keep Korean government bonds, including Korean Treasury Bonds (KTBs) and Monetary… Read More

June 30, 2024 @ 9:05 pm By Omar Faridi  |  

Maybank introduced the single device feature for sole proprietors where users can link up to five Maybank2u (M2U) access in the MAE app, enabling them to manage their finances in an easier and more seamless manner. This includes a combination of one individual account and… Read More

June 30, 2024 @ 8:34 pm By Omar Faridi  |  

Taiwan-based CTBC Bank has implemented the Avaloq Core Platform in order to digitally transform its private banking business. The new platform enables CTBC Bank “to offer specialized private banking products and services in Hong Kong and Singapore.” CTBC Bank is reportedly “the largest privately owned… Read More

June 30, 2024 @ 8:25 pm By Michael Wong  |  

MoneyHero Limited, a Nasdaq-listed platform for personal finance and digital insurance aggregation in Southeast Asia, has announced a strategic acquisition involving its subsidiary CompareHero. Under the terms of the agreement, CompareHero, which operates solely in Malaysia, will be acquired by Jirnexu Sdn. Bhd., the operator… Read More

June 29, 2024 @ 4:01 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) announced a significant expansion in its asset tokenization initiatives, aiming to set industry-wide standards across various financial sectors, including fixed income, foreign exchange (FX), and asset & wealth management. The announcement includes the successful completion of the first phase… Read More

June 28, 2024 @ 12:32 pm By Omar Faridi  |  

On 2024 International MSME Day, Ant International, a digital payment and financial services provider, shares that it supports almost 100 million Micro, Small, and Medium-sized Enterprises (MSMEs) worldwide across its businesses and partner programs; and reinforces its commitments towards MSME digitalization and inclusion through the… Read More

June 28, 2024 @ 12:22 pm By JD Alois  |  

Mt. Gox will soon start distributing around $9 billion in Bitcoin and Bitcoin Cash. In a notice posted on the Mt. Gox website, the entity said distributions will start in July: “The Rehabilitation Trustee has been preparing payments in Bitcoin and Bitcoin Cash in accordance… Read More

June 28, 2024 @ 9:00 am By Omar Faridi  |  

Alchemy Pay, a fiat-crypto payment solution provider, Danal, an integrated payment business company, and Danal Fintech, the Korean domestic specialist in virtual asset payments, announced the signing of a partnership agreement on June 25. This Memorandum of understanding (MOU) aims “to enhance the competitiveness of… Read More

June 27, 2024 @ 6:45 pm By Omar Faridi  |  

Tabby, the MENA region’s shopping and financial services app, conducted an in-depth analysis of their shoppers’ buying habits to determine the primary uses of BNPL. The research, based on a survey of 2,500 Tabby shoppers, “revealed that the majority use BNPL for essential purchases rather… Read More

June 24, 2024 @ 3:14 pm By Omar Faridi  |  

Pyypl (pronounced “People”) – a fintech company in the MEA region, has announced its Principal License Membership and strategic framework agreement with Visa (NYSE: V). The partnership with Visa is said to be a testament to Pyypl’s mission “to democratize access to financial services, its… Read More

June 24, 2024 @ 9:02 am By JD Alois  |  

Euronet (NASDAQ: EEFT) and Fintech Galaxy have announced a partnership to offer Open Banking services in the MENA region and the African continent. The service includes digital banking or Banking as a Service, as well as offerings for Fintechs, merchants, and more. Services include payments,… Read More

June 23, 2024 @ 10:19 pm By Omar Faridi  |  

AMINA Bank, a licensed and FINMA-regulated digital assets bank, has announced the launch of the AMINA Payment Network (APN). Designed to address the needs of the crypto banking world, APN helps “to facilitate real-time payments to other APN members.” This new service aims to keep… Read More

June 23, 2024 @ 9:26 pm By Omar Faridi  |  

WeLab, a pan-Asian fintech platform, announced strategic actions in Southeast Asia markets and Hong Kong to propel growth, scale and profitability. These initiatives are fortifying a robust foundation to support WeLab’s accelerated growth. WeLab’s overseas expansion strategy is “on the fast track as its Hong… Read More

June 23, 2024 @ 8:53 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has released its payment card statistics for the first quarter of 2024, revealing a steady rise in credit card usage and a mixed performance in debit card transactions. As of the end of Q1 2024, the total number of… Read More

June 23, 2024 @ 7:55 pm By Michael Wong  |  

India’s fintech sector is making significant strides, with the future unicorns currently valued at $58 billion, marking a 1.8% increase from the previous year. The latest ASK Private Wealth Hurun India Future Unicorn Index 2024, released by the Hurun Research Institute, showcases notable advancements and… Read More

June 23, 2024 @ 6:51 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, highlighted the importance of digitalization in enhancing rural bank operations during the Rural Bank Strengthening Program (RBSP) Technology and Innovation Forum. BSP Governor Eli M. Remolona, Jr. said the forum aimed to address… Read More

June 23, 2024 @ 11:48 am By Omar Faridi  |  

Amid increasing positive sentiment about the business climate1, Airwallex has launched its ‘Airwallex for Startups’ program in Singapore to further empower the city-state’s community of over 55,000 startups. The program aims to empower startups “to grow and scale their businesses, offering them tips and tools… Read More