Asia

January 14, 2024 @ 3:52 pm By Michael Wong  |  

The Securities and Exchange Commission of Pakistan (SECP) has initiated a significant step towards refining the regulatory framework for Non-Banking Finance Companies (NBFCs) by proposing amendments to the NBFC (Establishment & Regulations) Rules of 2003. This move, aiming to modernize and streamline the sector, invites… Read More

January 13, 2024 @ 3:46 pm By Michael Wong  |  

Southeast Asian Fintech company Salmon said it has secured approval from the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, to acquire a majority stake in the Rural Bank of Sta. Rosa (Laguna), a Filipino financial institution established in… Read More

January 13, 2024 @ 10:41 am By Omar Faridi  |  

Lendable is pleased to announce a $10 million debt investment in Validus, an SME lending platform with operations in Indonesia, Singapore, Thailand, and Vietnam. Validus drives SME financial inclusion “across Southeast Asia by leveraging proprietary data to provide supply-chain financing to under-served SMEs, thereby empowering… Read More

January 12, 2024 @ 2:45 am By Omar Faridi  |  

Zebec, a Fintech startup, announces the launch of its Web3 payment and real-time payroll services in Japan. This move marks Zebec’s continued global expansion and “underscores its commitment to fostering collaborative financial innovation worldwide.” Japan, known for pioneering a regulatory framework “for digital finance, offers… Read More

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

Salmon, a fintech working to improve access to credit, savings and investments for over 500 million underserved customers in Southeast Asia, announces that it has received regulatory approval from the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) in order to “acquire the controlling… Read More

January 11, 2024 @ 10:23 pm By Omar Faridi  |  

In a significant move towards modernizing business-to-business (B2B) payment processes, PayMate India SPC, a B2B digital payments company, has signed a Memoranda of Understanding (MoU) with the National Bank of Oman (NBO) in order “to digitize, automate, and streamline B2B payments using Visa Business Credit… Read More

January 11, 2024 @ 10:11 am By Omar Faridi  |  

Turkey’s Minister of Treasury and Finance Mehmet Şimşek has shared insights regarding part of what’s expected to be included in the country’s upcoming crypto regulations. The Turkish government said it would be legally defining key concepts related to crypto and will comment on the licensing… Read More

January 10, 2024 @ 12:08 pm By Omar Faridi  |  

BitGo will reportedly offer regulated digital payment token services in Singapore. BitGo says that it views Singapore as an “important hub” for digital asset innovation. BitGo, the provider of financial services for digital assets, confirmed recently that its subsidiary in Singapore, BitGo Singapore Pte. Ltd.,… Read More

January 9, 2024 @ 11:16 pm By Omar Faridi  |  

PolicyStreet, a regional insurtech company, secured approval from the Labuan Financial Services Authority (LFSA) to commence its Takaful and Retakaful operations. This accreditation positions PolicyStreet among “the select group of approved Takaful and Retakaful operators in Malaysia, granting the insurtech company the capability to reinsure… Read More

January 9, 2024 @ 11:15 pm By Omar Faridi  |  

ZilBank.com, a B2B payment platform, has recently announced its initiative that enables South Korean entrepreneurs and freelancers to conduct payments to the United States effortlessly, promoting worldwide business expansion without being limited by geographic barriers. The platform has made it easier for South Korean businesses… Read More

January 9, 2024 @ 11:14 pm By Omar Faridi  |  

Paymob, the financial services enabler in the MENA and Pakistan region, has announced its partnership with Tamara, the shopping and payments platform in the GCC region. The strategic partnership integrates Tamara’s Buy Now Pay Later (BNPL) service with Paymob’s secure gateway in order “to power… Read More

January 9, 2024 @ 8:09 am By Omar Faridi  |  

Hackers tied to North Korea stole at least USD$ 600 million in cryptocurrency in 2023, according to new research by TRM Labs. Additional hacks carried out in the final days of last year could, if confirmed to “have been committed by North Korea, push this… Read More

January 8, 2024 @ 7:10 pm By Michael Wong  |  

The Fintech sector in India experienced a significant decrease in funding in 2023, securing only $2 billion, a sharp decline of 63% and 76% from 2022 and 2021, respectively, according to a report by Tracxn. In comparison, the sector raised $5.4 billion in 2022 and… Read More

January 8, 2024 @ 7:08 pm By Omar Faridi  |  

Maalexi, the UAE-based dynamic risk management platform for SME agri-businesses, announces its completion of a $3 million pre-Series A fund raise. The investment round was reportedly “led exclusively by Global Ventures – MENA’s venture capital firm – which joins existing venture capital investors Rockstart (Amsterdam)… Read More

January 8, 2024 @ 8:18 am By Omar Faridi  |  

Global Fintech Airwallex has reportedly announced the appointment of Nadav Tamam in order to spearhead its enterprise business focused on Israel and the Middle East region. As reported by news outlets focused on Israel, Tamam has prior experience working at firms like Google as well… Read More

January 7, 2024 @ 6:22 pm By Michael Wong  |  

A recent survey conducted by high-impact research firm Capstone-Intel Corp. has revealed a significant trend in the Philippines: 90% of Filipinos now regularly use financial technology (fintech) applications for their daily transactions. This growing reliance on digital finance underscores the urgency for improvements in security… Read More

January 6, 2024 @ 4:56 pm By Michael Wong  |  

Komunal, a Jakarta-based Fintech startup, has successfully raised $5.5 million in its extended Series A funding. The round was backed by a range of investors, including the prominent Sumitomo Corporation, and received support from existing backers like AlphaTrio Sustainable Technology Fund, Skystar Capital, Sovereign’s Capital, Ozora,… Read More

January 4, 2024 @ 11:07 pm By Omar Faridi  |  

Dubai Duty Free, which claims to be one of the largest travel retail operators, announced its partnership with Alipay+ in order “to power a seamless travel and checkout experience for international visitors.” Consumers from South Korea, Singapore, the Philippines, Thailand, Mongolia, Italy as well as… Read More

January 4, 2024 @ 11:05 am By Omar Faridi  |  

Netbank, an embedded finance platform in Southeast Asia, is pleased to announce a transformative partnership with Sprout Solutions, the HR and payroll software provider in the Philippines. This collaboration marks a significant leap forward in “redefining the employee benefits landscape through the introduction of an… Read More

January 2, 2024 @ 7:09 pm By Omar Faridi  |  

As we enter 2024, Madhusudan Ekambaram, Co-founder and CEO at KreditBee, has shared insights on the Fintech-sector at large as well as his outlook for 2024. Madhusudan Ekambaram, Co-founder and CEO at KreditBee said that we “have seen a robust demand for credit in the… Read More