Asia

November 26, 2023 @ 9:50 pm By Omar Faridi  |  

Citi (NYSE: C) announced it has successfully completed the sale and full migration of its Indonesia consumer businesses to UOB Indonesia (UOBI). The sale includes retail banking, credit card, and unsecured lending businesses, “as well as the transfer of employees.” Citi and UOB first announced… Read More

November 26, 2023 @ 9:44 pm By Michael Wong  |  

Korea’s cryptocurrency industry is poised for significant growth as the global crypto landscape undergoes major shifts, with Chinese crypto exchanges faltering and the world’s largest exchange, Binance, facing legal challenges in the US, the Korea Times reported. In a recent development, Binance was ordered by… Read More

November 26, 2023 @ 9:42 pm By Michael Wong  |  

The future of Philippine fintechs, which have basic characteristics centered around innovation and sustainability, will be driven in major part by investments that value environmental, social and governance (ESG) principles, analysis from consumer finance company Digido revealed. The global sustainability technology (SusTech) industry, characterized to… Read More

November 26, 2023 @ 10:21 am By Omar Faridi  |  

Habyt, the flexible housing provider,  announced an exclusive partnership with Singapore-based startup, Rently, that marked a significant milestone in “the evolution of flexible living solutions.” For the first time in the co-living sector, Habyt has introduced “a disruptive rental model which allows new members freedom… Read More

November 26, 2023 @ 10:15 am By Omar Faridi  |  

Digitt+, an agri-fintech company, has been granted with a full commercial approval by the State Bank of Pakistan. This recent achievement marks “the culmination of an exciting journey that began with pilot approval, during which they onboarded 10,000 customers, facilitated transactions of worth PKR 400… Read More

November 26, 2023 @ 10:14 am By Omar Faridi  |  

Mastercard (NYSE: MA) announced that its joint venture entity, Mastercard NUCC Information Technology (Beijing) Co., Ltd., has received formal approval from the People’s Bank of China (PBOC) and the National Administration of Financial Regulation (NAFR) in order “to commence domestic bankcard clearing activity in China.”… Read More

November 25, 2023 @ 6:54 pm By Michael Wong  |  

Scapia, an India-based fintech company focused on making travel more accessible, has successfully raised $23 million in its Series-A funding round. The round was led by Elevation Capital and 3STATE Ventures, with participation from existing investors Matrix Partners India and Tanglin Venture Partners. Scapia said… Read More

November 25, 2023 @ 6:51 pm By Michael Wong  |  

Indonesia’s central bank, the Financial Services Authority (OJK), has partnered with the country’s fintech associations to issue what it describes as ethical guidelines on artificial intelligence (AI) use in the context of the fintech industry. The guidelines were formulated in collaboration with four leading fintech… Read More

November 25, 2023 @ 6:47 pm By Michael Wong  |  

India-based micro-lender Arohan Financial Services is reportedly planning to expand its digital lending operations as part of its overall goal of revolutionizing microfinance with digital push. Arohan said it will leverage its ‘Apna Arohan’ app for more efficient loan disbursements and improved repayment compliance. Launched… Read More

November 24, 2023 @ 10:15 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) has released its final set of regulations to enhance the oversight of Digital Payment Token (DPT) services, following up on its initial legislative amendments in July 2023. MAS said in a statement that the consulted proposals detail business conduct… Read More

November 24, 2023 @ 8:09 pm By Michael Wong  |  

India’s Finance Minister Nirmala Sitharaman said that while the G20 has embraced the “G20 roadmap on Crypto Sssets“, there is currently no set timeline for its implementation yet. Sitharaman made the pronouncement as she discussed the progress on the ‘G20 roadmap on Crypto Assets’. This… Read More

November 24, 2023 @ 7:22 pm By Michael Wong  |  

Indian fintech startup Kiwi has announced raising $13 million in a Series A funding round anchored by Omidyar Network India. The round, which followed the startup’s $6 million funding, was also backed by existing investors Nexus Venture Partners and Stellaris Venture Partners. Founded in November… Read More

November 24, 2023 @ 5:52 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA), together with the Hong Kong Association of Banks (HKAB) and the banking sector, support the launch of the Anti-Deception Alliance (ADA) by the Hong Kong Police Force (HKPF). ADA is expected to strengthen the capability of the anti-money laundering… Read More

November 24, 2023 @ 3:52 pm By Omar Faridi  |  

Funding in Southeast Asia continues to decline, but strong valuations and M&A activity are bright spots, according to an update shared by CBInsights. Venture funding in Southeast Asia continued “to slide in Q3’23, falling by 24% quarter-over-quarter (QoQ) to $1.6B,” the CBInsights report revealed. Deals… Read More

November 24, 2023 @ 3:25 pm By Omar Faridi  |  

SlowMist and Sinohope Technology Holdings Limited, a comprehensive digital asset custody platform, announced a strategic partnership uniting the two companies. The two parties will carry out active security business cooperation “in MPC security audit, digital asset Anti-money laundering (AML), Web3 threat intelligence cooperation Network, digital… Read More

November 24, 2023 @ 10:57 am By Omar Faridi  |  

Lunate, a global alternative investment management company with more than $50 billion of assets under management, and BNY Mellon (NYSE:BK), the largest custodian and a leader in wealth management technology are investing in a new company, Alpheya, that “will develop a customized wealth management technology… Read More

November 23, 2023 @ 10:27 pm By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) and the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) have announced a significant development in fintech collaboration through the exchange of a Memorandum of Understanding (MoU). This agreement focuses on enhancing cross-border trade-related data… Read More

November 23, 2023 @ 8:35 pm By Michael Wong  |  

Lendela, a Singapore-based digital loan matchmaker, has announced raising $5 million in funding anchored by Chocolate Ventures, a venture investment firm started by Singlife founder and former group CEO Walter de Oude. The Series A funding round was also backed by Lendela’s seed investor Cocoon… Read More

November 22, 2023 @ 5:42 pm By Omar Faridi  |  

LOTTE HIMART, one of the largest electronic goods retailers in South Korea, has partnered with international insurtech bolttech in order “to launch the country’s first-ever home appliance switching service.” Powered by bolttech’s embedded insurance technology, the service will “enable LOTTE HIMART customers to easily replace… Read More

November 21, 2023 @ 10:45 pm By Omar Faridi  |  

ThetaRay, the provider of AI-powered transaction monitoring and sanction screening solutions, is proud to announce a partnership with Knox Wire. A key player focused on cross-border payments, Knox Wire plans “to implement ThetaRay’s anti-money laundering (AML) transaction monitoring and sanction screening across its bank-to-bank communication… Read More