Asia

July 22, 2024 @ 5:03 am By Omar Faridi  |  

MNT-Halan, an Egyptian FinTech firm and the nation’s first unicorn, has reportedly finalized a new investment round, acquiring a total of $157.5 million. This new funding round included contributions of $40 million from the International Finance Corporation (IFC), while the other funds were provided by… Read More

July 21, 2024 @ 6:56 pm By Michael Wong  |  

The Central Bank of the UAE (CBUAE) and Bank Indonesia (BI) have signed a Memorandum of Understanding (MoU) to enhance bilateral cooperation in payment systems. This agreement was formalized during a visit to the UAE by Indonesian President Joko Widodo. The MoU, signed by Khaled… Read More

July 21, 2024 @ 9:22 am By Omar Faridi  |  

TIFIN, an AI and innovation platform for wealth, makes its international debut with the launch of TIFIN India. The launch of TIFIN India represents an important milestone “in TIFIN’s vision to take its expertise in both direct-to-consumer (DTC) and business-to-business (B2B) AI for wealth applications… Read More

July 20, 2024 @ 10:25 pm By Michael Wong  |  

BigPay, the digital financial services division of Malaysia-headquartered Capital A Bhd, has expanded its operations to Thailand. The e-wallet service, which offers features ranging from trip savings to seamless global payments and real-time currency exchange, aims to enhance financial inclusion in the region. The launch… Read More

July 20, 2024 @ 12:17 pm By Michael Wong  |  

Arta Finance, a US-headquartered digital family office for accredited investors, has secured approval to launch in Singapore, aiming to open its platform to Singaporean residents and other investors later this year. This move follows a significant expansion of Arta’s product offerings and team of industry… Read More

July 20, 2024 @ 9:22 am By Michael Wong  |  

South Kora’s Financial Services Commission (FSC) announced early this week that new stringent regulations targeting illegal transactions involving virtual assets will be enforced. The new legislation, known as the Virtual Asset Users Protection Act, mandates virtual asset exchanges to report illegal activities to the financial… Read More

July 19, 2024 @ 8:41 pm By Omar Faridi  |  

Copper, a firm focused on digital asset custody, collateral management, and prime services, has secured a Trust or Company Service Provider (TCSP) license in Hong Kong. This license, granted by Hong Kong’s Companies Registry, “represents a key milestone in Copper’s global market expansion and its… Read More

July 19, 2024 @ 8:34 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) announced an additional commitment of S$100 million (about $74 million) under the Financial Sector Technology and Innovation Grant Scheme (FSTI 3.0). This funding aims to bolster financial institutions in developing quantum and artificial intelligence (AI) capabilities and foster the… Read More

July 19, 2024 @ 7:04 am By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has revealed the participants of its stablecoin issuer sandbox, marking a significant step in the city’s drive to foster a regulated and sustainable stablecoin ecosystem. Earlier this week, the results of a consultation by the HKMA on stablecoins were… Read More

July 17, 2024 @ 9:03 pm By Omar Faridi  |  

OneCard, a Fintech company in India, is forging a new path in the Indian credit card market and tapping into the fast-growing segment of tech-savvy individuals who value both design and financial control. As noted in a blog post by Razorpay, OneCard reportedly “manage over… Read More

July 17, 2024 @ 1:12 pm By JD Alois  |  

A consultation on the regulation of stablecoins in Hong Kong was announced in December of 2023. Stablecoins typically refer to digital assets referencing fiat currency and may be viewed as updated payment rails. Today, the Hong Kong Monetary Authority (HKMA) has revealed the results of… Read More

July 16, 2024 @ 11:08 pm By Omar Faridi  |  

ADGM’s commitment to transparency, accountability and market integrity has been “strongly reflected” through its coordinated efforts to sustain these pillars. ADGM, the international financial centre of the UAE’s capital, has announced the publication of its whistleblowing framework, “a coordinated initiative between ADGM Authorities to sustain… Read More

July 16, 2024 @ 11:00 am By JD Alois  |  

Mira, a decentralized infrastructure platform focused on artificial intelligence (AI), is reporting receiving $9 million in seed funding. According to a release, BITKRAFT Ventures and Framework Ventures led the funding round. Other investors include Accel, Crucible, Folius Ventures, Mechanism Capital, SALT Fund, and angel investors…. Read More

July 15, 2024 @ 4:30 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) announced a significant shift in security protocols for major retail banks. Over the next three months, banks will gradually discontinue using One-Time Passwords (OTPs) for customers who use digital tokens, a… Read More

July 14, 2024 @ 7:38 pm By Michael Wong  |  

Singapore’s latest blockchain initiative, Net Zero-X, launched this week, introducing a specialized exchange platform for institutional and accredited investors focused on green, clean, and climate tech projects. The platform aims to address the critical financing gaps that are impeding global efforts to transition to a… Read More

July 14, 2024 @ 12:24 pm By Michael Wong  |  

WeBank, a pioneering Fintech giant, says it has established its new global headquarters in Hong Kong. The headquarters is expected to primarily focus on research and development (R&D) and the commercialization of technological solutions aimed at international markets, according to an announcement. The decision to… Read More

July 13, 2024 @ 6:29 am By Michael Wong  |  

Bangladesh’s BRAC Bank has achieved a significant milestone in digital lending in the country by providing over 12,000 digital instant loans, amounting to more than BDT 1 billion (100 crore), within a year of its soft launch. The bank’s Digital Instant Loan facility, recognized as… Read More

July 12, 2024 @ 5:27 am By Omar Faridi  |  

Pakistan based Fintech firm Sadapay has reportedly laid off around 30% of its employees, which includes sevearl C-suite execs, according to an update shared by local sources. Sadapay claims that the layoffs were made due to cost-cutting measures and the decision was announced during a… Read More

July 10, 2024 @ 11:45 pm By Omar Faridi  |  

Research has revealed 66 percent of travel companies are seeing their profit margins impacted by outdated or complicated payment systems, with nine in 10 expected to prioritize modernising their financial operations this year. In a report released by global payments and financial platform, Airwallex, and… Read More

July 10, 2024 @ 6:16 pm By Omar Faridi  |  

Fave Singapore, operating under the registered entity name Beeconomic Singapore Pte. Ltd. and part of the Pine Labs group today announced that it has received an in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) Licence to offer account… Read More