Asia

December 23, 2023 @ 4:12 am By Omar Faridi  |  

PhonePe announced the launch of a new ‘Credit’ section on its platform. The new section will allow users “to view their credit bureau score without any additional cost, conveniently manage their credit/ Rupay cards and repay loans and credit card bills.” The Credit bureau report also… Read More

December 23, 2023 @ 3:39 am By Michael Wong  |  

London-listed Bowen Fintech has agreed to acquire a majority stake in Minnadeooyasan-Hanbai Co Ltd (MOH), a Japanese firm specializing in real estate crowdfunding services, according to reports. The acquisition involves Bowen Fintech purchasing 93.5% of MOH’s shares for £34.5 million. This transaction will be entirely… Read More

December 23, 2023 @ 3:26 am By Omar Faridi  |  

The Securities and Futures Commission (SFC) in Hong Kong warned the public to beware of entities operating under the names of “LonShiX” and “Bitbank (Global) Financial Holding Group,” suspected of “engaging in fraudulent activities purporting to be related to virtual assets.” The SFC notes that… Read More

December 22, 2023 @ 2:42 pm By Omar Faridi  |  

Newgen Software, a global provider of low code digital transformation platform, announced that the Development Bank (DB) selected Newgen in order “to streamline its Banking Processes and Deliver Transformed Experiences.” The financing arm for the government to “support SMEs based in Oman is dedicated to… Read More

December 22, 2023 @ 7:22 am By Michael Wong  |  

Global investment firm Blackstone has announced a significant move in Japan’s financial technology (fintech) sector, with its private equity funds entering into a definitive agreement to acquire a majority stake in Sony Payment Services Inc. for an undisclosed amount. Blackstone will acquire Sony Payment from… Read More

December 22, 2023 @ 4:11 am By Michael Wong  |  

Sumitomo Life Insurance Company (Sumitomo Life) has agreed to acquire all shares of Singapore digital insurer Singlife held by TPG, which currently owns about 35% of the insurtech firm. Furthering its investment, Sumitomo Life plans to extend offers to purchase shares from the remaining shareholders… Read More

December 21, 2023 @ 7:41 pm By Michael Wong  |  

Saudi Arabian fintech savings platform Hakbah has successfully raised $5.1 million in a Series A funding round, a substantial boost for the savings platform’s growth and innovation strategies. The round was anchored by venture capital firm VentureSouq and backed by new investors M-Capital and Bunat… Read More

December 21, 2023 @ 5:25 pm By Omar Faridi  |  

Tabby, the MENA’s shopping and financial services app, has secured up to $700 million in receivables securitization from J.P. Morgan. The deal represents the largest asset-backed facility “obtained by a fintech company in the MENA region.” In parallel to the securitization financing, Tabby has “extended… Read More

December 21, 2023 @ 3:10 am By Michael Wong  |  

Abu Dhabi-based Changer.ae has been granted a license by the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to operate as a cryptocurrency custodian service. As the first regionally built, independent virtual asset custody provider in the UAE, Changer addresses the increasing… Read More

December 20, 2023 @ 10:30 pm By Omar Faridi  |  

HashKey Capital Singapore Pte. Ltd., a key player focused on the blockchain and digital asset investment space, is pleased to announce the successful acquisition of the Capital Markets Services (CMS) license from the Monetary Authority of Singapore (MAS). The CMS license, granted by the MAS,… Read More

December 20, 2023 @ 10:04 pm By Michael Wong  |  

A new survey has highlighted a growing trend among Indian consumers towards using digital services for loans and financial transactions, coupled with a significant lack of awareness about data privacy. According to Home Credit India’s ‘How India Borrows Survey 2023’, only 18% of borrowers surveyed… Read More

December 19, 2023 @ 11:58 pm By Omar Faridi  |  

Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce it has signed a Memorandum of Understanding (MOU) with the People’s Government of Heilongjiang Province (Heilongjiang Government) to “strengthen cooperation and to support listings of Heilongjiang companies on Hong Kong’s equities market.” Under the… Read More

December 19, 2023 @ 9:28 pm By Omar Faridi  |  

Tamara, the fintech platform to shop, pay and bank in Saudi Arabia and the wider GCC region, has achieved the historic milestone of becoming the Kingdom’s “first” homegrown fintech unicorn by securing $340 million in a Series C equity funding round. This investment round was… Read More

December 18, 2023 @ 9:25 pm By Omar Faridi  |  

Research from Coda, the global firm focused on content monetization solutions for gaming and digital publishers, and Niko Partners, the provider of market intelligence on the video game industry in Asia and MENA, dives into “the evolving landscape of the gaming industry, and the opportunities… Read More

December 18, 2023 @ 9:47 am By Omar Faridi  |  

Atul Bhuchar, Head of Product at Partior, the global unified ledger market infrastructure for clearing and settlement, recently shared his views and insights with Crowdfund Insider. Partior claims it is redefining the way money moves globally by “optimizing how liquidity is accessed.” Founded in 2021,… Read More

December 17, 2023 @ 5:17 pm By Omar Faridi  |  

Sumsub has joined the Singapore FinTech Association (SFA). This collaboration signifies Sumsub’s dedication “to driving innovation, fostering key industry connections, and contributing to the vibrant FinTech landscape in Singapore, as well as the wider APAC market following the establishment of its regional headquarters in Singapore… Read More

December 17, 2023 @ 4:07 pm By Michael Wong  |  

The United Arab Emirates (UAE) Ministry of Economy and the Government Development has nominated ABHI, a Pakistani fintech operator, as one of the emerging companies contributing significantly to the nation’s economic sector. This recognition came as ABHI recently inked a deal with Visa Inc. and… Read More

December 17, 2023 @ 3:11 pm By Michael Wong  |  

The Saudi Central Bank (SAMA) has officially introduced a set of rules aimed at regulating “Buy Now, Pay Later” (BNPL) services, marking a significant step in overseeing and controlling this rapidly growing sector. This development, as stated in a recent SAMA press release, is part… Read More

December 16, 2023 @ 1:33 pm By Michael Wong  |  

The International Monetary Fund (IMF) Managing Director’s recent visit to Korea highlighted the urgency of establishing stringent regulations for the cryptocurrency sector. Addressing a conference in Korea, Kristalina Georgieva emphasized the critical need for robust rules in managing the risks associated with digital currencies, drawing… Read More

December 16, 2023 @ 12:22 pm By Michael Wong  |  

OneDegree, a Hong Kong-based insurer specializing in digital assets, has formed a strategic alliance with Dubai Insurance Company to introduce digital asset insurance in the United Arab Emirates (UAE). This partnership includes Dubai Insurance’s investment in OneDegree’s Series B funding round. The collaboration aims to… Read More