Asia

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

November 20, 2023 @ 10:39 pm By Omar Faridi  |  

The latest Residential Property Price Survey conducted by Bank Indonesia in the third quarter of 2023 indicates “that residential property prices in the primary market are still rising annually, with growth of the Residential Property Price Index (RPPI) accelerating to 1.96% (yoy) from 1.92% (yoy)… Read More

November 20, 2023 @ 10:28 pm By Omar Faridi  |  

PT Bank Jasa Jakarta (BJJ), owned by Astra Financial and WeLab since 2022, launched Bank Saqu, a digital banking service, as a financial partner for individuals and SMEs in Indonesia with a solopreneur spirit. At the launch ceremony of Bank Saqu, it was “attended by… Read More

November 20, 2023 @ 9:25 pm By Omar Faridi  |  

​Personal remittances from Overseas Filipinos (OFs) in September 2023 have reportedly “reached US$3.23 billion, 2.6 percent higher than the US$3.15 billion recorded in the same month last year.” The growth in personal remittances in September 2023 was driven “by increased remittances from 1) land-based workers… Read More

November 20, 2023 @ 6:12 pm By Omar Faridi  |  

Thunes and Kapronasia, a strategic advisory and financial services consultancy, have issued a report, “From Cash to QR codes: Unpacking Southeast Asia’s Diverse Consumer Payments Culture,” examining the region’s world-leading payment landscape. The report explores why payment digitization has been on the rise in Southeast… Read More

November 19, 2023 @ 5:18 pm By Michael Wong  |  

Green fintech has become a promising new growth area in Southeast Asia, with green fintech firms bringing innovative solutions to help businesses and governments address challenges and opportunities of going green. This insight was part of the report – Fintech in ASEAN 2023: Seeding the… Read More

November 19, 2023 @ 3:39 pm By Michael Wong  |  

Australia and the Philippines have agreed to cooperate in promoting trade and investment within the financial technology (fintech) sector, marking a major step towards enhancing the technological collaboration between the two nations. The memorandum of understanding that formalises the partnership was signed by FinTech Alliance.ph… Read More

November 19, 2023 @ 2:45 pm By Omar Faridi  |  

Bordier & Cie (Singapore) is Sygnum Singapore’s first B2B client since the latter received its MAS Major Payment Institutions license in October 2023 and launched its regulated Digital Payment Token (DPT) brokerage service. Globally, Sygnum has enabled “the 15+ banks and international financial institutions on… Read More

November 19, 2023 @ 2:43 pm By Michael Wong  |  

Jordan Ahli Bank, a Jordanian financial institution with over six decades of banking experience, has announced its full compliance with the country’s Open Banking and Open Finance regulations. The bank said it has partnered with Open Banking and financial innovation firm Fintech Galaxy to boost… Read More

November 19, 2023 @ 2:09 pm By Michael Wong  |  

Ant International, Grab, and StraitsX have announced a collaborative effort to explore the potential application of Purpose Bound Money (PBM) in cross-border payments. PBM is a protocol that specifies the conditions upon which an underlying digital currency can be used and first introduced by MAS… Read More

November 19, 2023 @ 12:57 pm By Omar Faridi  |  

At the XI Congress of Financiers of Kazakhstan, a new central bank digital currency (CBDC)-linked debit card – the Digital Tenge Card – was presented. As a part of the 30th anniversary celebration of the national currency, the first payment transaction was “made at the… Read More

November 19, 2023 @ 5:24 am By Omar Faridi  |  

Maybank announces that all transactions from Maybank2u Biz app and web platforms will require Secure2u authorisation. All Maybank2u Biz account holders are “recommended to activate the Secure2u authorization before 26 November 2023. Any activation of Secure2u for Maybank2u Biz app after 26 November 2023 will require a… Read More

November 18, 2023 @ 5:52 pm By Michael Wong  |  

The Monetary Authority of Singapore (MAS) and Bank Negara Malaysia (BNM) have jointly introduced a real-time payment systems linkage connecting Singapore’s PayNow and Malaysia’s DuitNow. This initiative builds upon the earlier QR payment linkage announced on March 31, 2023, facilitating cross-border QR payments to merchants…. Read More

November 18, 2023 @ 5:46 pm By Michael Wong  |  

BC Technology Group, the digital asset and fintech-focused parent of digital asset platform OSL, has announced raising approximately HK$710 million from crypto group BGX. The deal, which still requires the approval of BC Group’s shareholders, will give BGX a 30% stake in the company. OSL… Read More

November 18, 2023 @ 12:08 pm By Michael Wong  |  

Fintech lending is expected to surpass traditional banking by 2030, according to a recent report by the Centre for Advanced Financial Research and Learning (CAFRAL). The forecast by CAFRAL, an independent body established by the Reserve Bank of India (RBI) in 2011, underscores the profound… Read More

November 17, 2023 @ 5:08 pm By Omar Faridi  |  

Elliptic – the firm enabling blockchain analytics and data intelligence – and CODE – a South Korean Travel Rule solution provider – have launched a partnership which represents Elliptic’s entrance into the Korean market. The new alliance will help companies in the country ramp up… Read More

November 17, 2023 @ 4:58 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) unveiled three initiatives to ensure the safe and innovative use of digital money in Singapore, namely: a blueprint outlining the infrastructure required for a digital Singapore dollar; expanding digital money trials; and a plan to issue a “live” central… Read More