Philippine Central Bank (Bangko Sentral ng Pilipinas or BSP) personnel urged caution regarding the use of cryptocurrencies this week and promised to continue to address the risks posed by them, The Philippine Star reports. Governor Benjamin Diokno said he is wary of cryptocurrencies given that they… Read More
BitMEX Ventures, the investment arm the BitMEX crypto exchange (HDR Global Trading Ltd), has invested in Philippine Digital Asset Exchange (PDAX), a cryptocurrency exchange based in the Philippines. Terms of the investment were not disclosed. In a release, BitMEX said its investment will help strengthen… Read More
Asia Business Law Journal (ABLJ) has published a comprehensive article on the current state of crypto law in Asia. Here, we provide a summary of the most salient point presented by ABLJ from each region. Philippines According to the International Monetary Fund (IMF), Global growth… Read More
An on-the-ground investigation by London news outlet Financial Times has shown that several payment referral partnerships maintained by German payments giant Wirecard in the Philippines are either insubstantial or dubious. On Friday, it was revealed that a top accounting executive with the firm had departed…. Read More
Peer to peer lender Robo.cash announced on Monday it has funded €2.4 million of Philippine loans. Robo.cash reported that this is the highest volume of financed loans among all loan originators of Robocash Group for the first three months after the integration with the P2P… Read More
Robo.cash, a peer to peer lending company with a portfolio of platforms, says it has been joined by its first lending company in Southeast Asia Robocash Finance Corp. Investors may now fund Philippine short-term consumer loans in EUR with an annual return of up to… Read More
First Circle, a Philippine Fintech, is expected to announce a new credit facility for SMEs nationwide. This new facility has gained the support of the Philippine Department of Trade and Industry (DTI) and the Bangko Sentral ng Pilipinas (BSP). First Circle is an online lender… Read More
Philippine SEC Commissioner Ephyro Luis Amatong has stated that regulators expect to release draft rules governing cryptocurrency exchanges by the end of this week, Manila Times reports. “We see the need to regulate them as trading platforms,” he said. As part of the rule-determination process,… Read More
In many parts of the Philippines, you’re more likely to encounter a remittance house like Western Union than a bank branch. Cash arrives from abroad, but the access to business loans and mortgages needed to build a self-sustaining economic base are hard to come by…. Read More
The KROPS Initial Coin Offering has received a Cease & Desist (C&D) from the Philippines Securities and Exchange Commission. The C&D, embedded below, demands the immediate halt to the sale of KROPS Tokens or KropCoins. The SEC states the company has not filed the necessary… Read More
The Future of Banking is Blockchain and Hero Wants to be the One Hero, part of the PawnHero online lending platform, is preparing an Initial Coin Offering (ICO). You may read the white paper in English here. PawnHero is an already successful secured lending platform… Read More
Coins, a Philippines-based blockchain mobile payments platform that services Southeast Asia, announced it had secured US $5 million in funding from Naspers, according to an article on Techcrunch. Naspers, which is based in South Africa, is one of the world’s largest investors in tech. The… Read More
The Fintech firm Acudeen Technologies has beat out its fourteen other competitors at the Seedstars World 2017 pitch competition and came home with the $500,000 grand prize. The Philippines based company wowed the judges with their new approach for assisting startups in their acquisition of… Read More
Peppermint Innovation is a Fintech firm focused on the commercialisation of a mobile banking, payments and remittance technology, designed for banks and other institutions. The company’s vision is to provide mobile payments, money services, and remittances to anyone and to anywhere in the world. Founded… Read More
The central bank in the Philippines laid down regulations last week for virtual currencies, including bitcoin. Bangko Sentral ng Pilipinas (BSP) was prompted by the surge in the number of money transfers across borders. More specifically, the financial body is looking to mitigate risks, such as… Read More
Economic migrants rely on remittances to ensure that their families are well off at home and to maintain ties to their home countries. Fees imposed by big banks and traditional remittance institutions eat into foreign workers’ hard-earned incomes, however, so startups focused on money transfers… Read More
Irish born but Asia based, First Circle has received $1.2 million in seed funding led by Key Capital and IMJ Investment Partners. The online lender is targeting SME in the Philippines first but plans on expanding across Southeast Asia. Speaking with Businessworld.ie, Patrick Lynch, the… Read More
The Asia-Pacific Alternative Finance Benchmarking Report has just been published and it highlights the largest region in the world for disruptive finance. Entitled, “Harnessing Potential”, this is the first report for the region and has been created by a partnership of researchers, including the Cambridge… Read More
Last month ENDVEST, a global real estate crowdfunding platform, launched its highly anticipated and improved platform ENDVEST 2.0. According to CTO of ENDVEST, David Boyajian, the new website was “built with the investor experience in mind every step of the way.” He claimed that the… Read More
Australian listed crowdfunding platform CoAssets Limited (“CoAssets” or the “Company”) (NSX code: CAX), confirmed on Monday that it has successfully crowdfunded the platform’s first Singapore-based real estate project. Launched on July 1st, Mountbatten Lights, a boutique cluster bungalow development, managed to raise S$500,000 from more than… Read More
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