Asia

September 2, 2024 @ 10:22 am By Omar Faridi  |  

Ant International announced its participation in the Hong Kong Monetary Authority’s (HKMA) Project Ensemble Sandbox, focusing on “Liquidity Management”, one of its four main themes. Launched in March this year, Project Ensemble is the HKMA’s wholesale central bank digital currency (wCBDC) project aimed “at fostering… Read More

September 2, 2024 @ 9:06 am By Omar Faridi  |  

OKX, a global crypto exchange and Web3 technology company, announced that its local entity, OKX SG Pte. Ltd., received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), and appointed Gracie Lin as CEO of OKX SG. The license granted under… Read More

September 2, 2024 @ 7:27 am By Omar Faridi  |  

Industry veteran and Pine Labs’ Chief Transformation Officer Sumit Chopra transitions to a new role of COO – Pine Labs, Digital Payments. In this new role, Sumit will lead the digital payments business “for the company and will spearhead sales, customer experience, and operational excellence.”… Read More

September 1, 2024 @ 8:51 pm By Michael Wong  |  

Ant International has launched a strategic initiative to enhance financial inclusion in Brazil by partnering with Latin American payments and banking tech firm Dock. The partnership seeks to deliver AI-driven credit technology solutions to improve credit management and infrastructure efficiency for various clients, including financial… Read More

September 1, 2024 @ 5:44 pm By Michael Wong  |  

Singapore’s banking sector has emerged as a leader in decarbonisation policies among advanced economies in Asia, according to a recent report by Asia Research and Engagement (ARE), a sustainability-focused consulting firm. The report evaluated the climate goals and decarbonisation strategies of nine banks across Singapore,… Read More

September 1, 2024 @ 2:56 pm By Omar Faridi  |  

UP Fintech Holding Limited (NASDAQ: TIGR), an online brokerage firm focusing on global investors, announced its unaudited financial results for the second quarter ended June 30, 2024. Mr. Wu Tianhua, Chairman and CEO of UP Fintech said the second quarter saw trading volumes increase by… Read More

September 1, 2024 @ 10:07 am By Omar Faridi  |  

Helicap has raised $4.3 million in Series B funding that has been led by Kenanga Investors. Helicap, a fintech investment platform, has acquired $4.3 million via its Series B  round, as disclosed in regulatory filings. Kenanga Investors, which is a subsidiary of Malaysia-based Kenanga Investment… Read More

August 31, 2024 @ 6:11 pm By Michael Wong  |  

The adoption rate of financial technology (fintech) in the Philippines is projected to rise significantly, with 79.5% of the population aged 15 and above expected to be using fintech mobile apps by the end of 2024, according to a new analysis by consumer credit service… Read More

August 31, 2024 @ 6:09 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) announced the conclusion of an investigation and subsequent disciplinary proceedings against WeChat Pay Hong Kong Limited (WPHK), resulting in a fine of HK$875,000 ($112,000). The penalty is imposed for violations under the Payment Systems and Stored Value Facilities Ordinance… Read More

August 31, 2024 @ 12:21 pm By Omar Faridi  |  

Cashfree Payments, India’s payments and API banking solutions company, announced the launch of Secure ID. Secure ID is an end-to-end solution “for identity verification, risk assessment, and fraud prevention.” Cashfree Payments claims to have “crossed 100Cr+ verifications and has prevented fraud worth INR 50Cr+ for… Read More

August 30, 2024 @ 8:57 am By JD Alois  |  

Validus is reporting new capital from HSBC in the amount of USD $50 million. The funds will be utilized to provide online lending for micro, small, and medium enterprises (MSMEs) in Indonesia. Validus, based in Singapore, will release the funds via its subsidiary Batumbu, which… Read More

August 29, 2024 @ 9:44 pm By Omar Faridi  |  

Fintech Pine Labs and Visa (NYSE: V), the enabler of global payments have come together to scale digital payments acceptance and further India’s vision of a digital economy by unveiling Pine Labs Mini, a soundbox-enabled device for QR, Near Field Communication (NFC) and card payments. The… Read More

August 28, 2024 @ 3:22 am By Michael Wong  |  

The Reserve Bank of India (RBI) has announced tightened regulations for peer-to-peer (P2P) non-bank lending platforms, effective immediately, in response to some entities’ violations of the 2017 guidelines. The move aims to enhance transparency and ensure stricter compliance with regulatory standards, addressing concerns that certain… Read More

August 27, 2024 @ 10:11 pm By Omar Faridi  |  

The PhonePe Group reported revenue of INR 5064 Cr for FY23-24 (fiscal year ending March 31, 2024) which represents 74% top-line growth from FY22-23 revenue of INR 2914 Cr. The Group also reported “an Adjusted Profit After Tax (i.e., PAT excluding ESOP costs) of INR… Read More

August 27, 2024 @ 10:09 pm By Omar Faridi  |  

A total of 7,966 deals (mergers & acquisitions (M&A), private equity and venture financing deals) were announced in the Asia-Pacific (APAC) region during January-July 2024, which was a decline of 9.9% compared to the 8,840 deals announced during the same period in previous year, according… Read More

August 27, 2024 @ 12:15 pm By Omar Faridi  |  

Hex Trust, a provider of digital asset solutions for institutional finance and the Web3 ecosystem, has announced the launch of its inaugural Staking Partner Program. This initiative will feature four infrastructure partners: Chorus One, Kiln, Luganodes and Twinstake. Hex Trust clients will be “able to… Read More

August 27, 2024 @ 8:32 am By Omar Faridi  |  

Bitpanda‘s latest partner, CoinMENA, is a crypto broker in the Middle East. Through their partnership with Bitpanda Technology Solutions (BTS), CoinMENA will enhance trading efficiency on their platform and “expand the range of crypto assets available to its users.” When fully implemented, CoinMENA will have… Read More

August 26, 2024 @ 10:29 pm By Omar Faridi  |  

Banking Circle, a fully licensed next-generation bank with central bank access, has entered a strategic partnership with Skydo, India’s cross-border payments platform for Micro, Small, and medium-sized Enterprises (MSMEs) and freelancers. The collaboration aims to support Indian businesses “operating globally by providing them with seamless, efficient and cost-effective… Read More

August 26, 2024 @ 10:28 pm By Omar Faridi  |  

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has released the Consultation Paper No. 7 of 2024 containing proposals to enhance its regulatory framework to “allow the issuance of Fiat-Referenced Tokens (FRTs) from the ADGM and invites public feedback and comments on the… Read More

August 26, 2024 @ 5:27 pm By JD Alois  |  

Global crypto exchange and digital asset innovator Binance has received a letter of appreciation from the Organized Crime and Triad Bureau (OCTB) of the Hong Kong Police Force (HKPF). The letter was in recognition of their assistance in a kidnapping case. According to the letter signed… Read More