Asia

January 2, 2024 @ 2:22 am By Omar Faridi  |  

Jaya Vaidhyanathan, CEO, BCT Digital, recently shared key insights with CI that are focused around the banking sector and unsecured loans offered in India (along with the Reserve Bank of India’s recent policy decisions). Jaya from BCT Digital notes that as we enter 2024, the… Read More

January 1, 2024 @ 9:34 pm By Omar Faridi  |  

Hakbah – the KSA-based fintech savings platform – announces a new partnership with Tarabut – MENA’s open banking platform, and an investor in the region’s digital transformation. The partnership has several benefits for Hakbah as it “simplifies and expedites various tasks.” It will enable streamlined… Read More

January 1, 2024 @ 8:53 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) seeks public consultation on draft amendments to the “Key Principles of Governance in Financial Institutions under the control and supervision of the Saudi Central Bank.” In this context, SAMA invites stakeholders to “provide suggestions and observations on the draft by… Read More

January 1, 2024 @ 6:24 pm By Omar Faridi  |  

Lightyear announced a strategic investment from two South Korean venture capital funds, Sunbo Angel Partners and Lighthouse Combined Investment. Both funds, with ties to South Korea’s automotive industry and other manufacturing corporate alliances, “have recognized Lightyear’s potential to create the next era of highly efficient… Read More

December 31, 2023 @ 6:31 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $3.9 million on Credit Suisse AG, for its alleged failure “to prevent or detect misconduct by its relationship managers (RMs) in the Singapore branch.” The RMs had allegedly provided clients “with inaccurate or… Read More

December 30, 2023 @ 11:55 am By Michael Wong  |  

Monex Group, a Japanese financial conglomerate known for its online brokerage, crypto exchange, and asset management services, has announced its acquisition of a majority stake in Canada’s 3iQ Digital Holdings and its subsidiaries for $39.8 million. In a statement, Monex revealed its ambition to bolster… Read More

December 29, 2023 @ 4:33 pm By Omar Faridi  |  

Akash Sinha, CEO & Co-Founder, Cashfree Payments, has shared key insights with CI that are focused around UPI, digital payments and the overall Fintech space. Akash Sinha from Cashfree Payments notes that even with global economic uncertainty, the fintech sector in India has “continued to… Read More

December 28, 2023 @ 6:28 pm By Omar Faridi  |  

After the launch of World ID 2.0 and the open sourcing of the Worldcoin iris recognition pipeline in mid December, World ID verifications are now “available in Singapore via the Orb, the project’s custom hardware device.” A full list of verification locations is available on… Read More

December 27, 2023 @ 10:09 pm By Omar Faridi  |  

Hong Kong Exchanges and Clearing Limited (HKEX) claims that it has had a “busy” and “productive” 2023, marked by the achievement of several significant milestones and the launch of new initiatives. This included the opening of new offices “in New York and London, strategically positioning… Read More

December 27, 2023 @ 7:23 pm By Omar Faridi  |  

The Financial Services Regulatory Authority (FSRA) has announced revisions to its Anti-Money Laundering and Sanctions Rules and Guidance (the AML Rulebook). The FSRA has made revisions that “clarify the requirements that previously appeared in the AML Rulebook, reflecting the federal regulatory framework the UAE has… Read More

December 27, 2023 @ 7:14 pm By Michael Wong  |  

Corporate payments startup EnKash has achieved a significant milestone by securing regulatory approval from the Reserve Bank of India (RBI) to operate as a payment aggregator under the brand name “Olympus”. This approval marks a pivotal moment for EnKash, reinforcing its commitment to compliance and… Read More

December 27, 2023 @ 9:51 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has kicked off a public consultation on the issuance of stablecoins. Stablecoins are digital assets that are referenced to other assets. Typically affiliated with fiat currency, stablecoins may also be paired with other assets such as gold. Today, most… Read More

December 26, 2023 @ 11:42 pm By Omar Faridi  |  

Mox Bank Limited announced that customers can now earn Asia Miles instantly upon placing a Time Deposit “without waiting until maturity.” Mox claims that it is the first and “only” bank in Hong Kong to “offer such a reward, allowing customers to use Asia Miles… Read More

December 26, 2023 @ 10:04 pm By Omar Faridi  |  

The Central Bank of Kuwait (CBK) announced that Kuwait Clearing Company (KCC) has now joined the Real Time Gross Settlement System (KASSIP), “effective Sunday 24/12/2023 upon completion of automated linking and passing the technical tests.” The system would thereby “execute final settlements for financial transactions… Read More

December 26, 2023 @ 10:03 pm By Omar Faridi  |  

Singapore-based Whampoa Digital and Wemade, a Korean gaming company, have entered into a strategic partnership to collaborate on a US$100 million Web3 Fund to be established by Wemade as well as on digital asset initiatives in the Middle East. As part of this collaboration, Whampoa… Read More

December 26, 2023 @ 9:40 pm By Omar Faridi  |  

Pakistan’s Fintech firm SadaPay recently explained how retaining your earnings in USD with SadaBiz change the game for your freelancing career. With this feature, the Fintech company explains that it is turning your most requested need into a reality, reshaping how you interact with your… Read More

December 24, 2023 @ 2:02 pm By Michael Wong  |  

Thailand’s Kasikornbank Pcl, the country’s second-largest bank, is developing a digital-asset ecosystem to provide innovative funding routes for companies, according to a Bloomberg report. This move includes the October acquisition of the licensed digital-asset exchange Satang Corp, marking a rare instance of a major lender… Read More

December 23, 2023 @ 9:26 pm By Michael Wong  |  

Fintech Alliance PH has commended the Philippine government for the enactment of the Internet Transactions Act (ITA), which aims to enhance and secure e-commerce transactions in the country. President Ferdinand R. Marcos Jr. signed Republic Act 11967, known as the ITA, marking a critical step… Read More

December 23, 2023 @ 5:41 pm By Michael Wong  |  

The Philippines’ Securities and Exchange Commission (SEC) has successfully driven the growth of the country’s crowdfunding sector, with funds raised approaching P2 billion (about $36 million) in the last three years. This surge in crowdfunding activity is a direct outcome of the SEC’s nationwide campaign,… Read More

December 23, 2023 @ 4:22 am By Omar Faridi  |  

Crypto.com, which claims to be “trusted” by more than 80 million customers worldwide and says it is the supporter of regulatory compliance, security and privacy, signed a Memorandum of Understanding (MOU) with six major charities in Singapore in order “to help facilitate the acceptance of… Read More