Tagged: singapore

January 26, 2020 @ 7:17 am By Omar Faridi  |  

Tokopedia, an Indonesia-based e-commerce marketplace, is reportedly in the final stages of closing an investment round valued at around $1.5 billion from Japan’s Softbank, China’s Alibaba Group and Singapore-based Temasek. The Tokopedia marketplace, which is notably the largest of its kind in Indonesia, is now… Read More

January 24, 2020 @ 11:11 am By Omar Faridi  |  

The Digital Asset Human Capital Trends Report was recently commissioned by the Blockchain Association, an organization of active industry participants who promote efforts related to innovation and the collaboration needed to support US leadership of the crypto-assets sector. The companies included in the research sample… Read More

January 21, 2020 @ 3:22 pm By Omar Faridi  |  

Kristal.AI, a Singapore-headquartered digital wealth management firm, has secured $6 million in capital via a Series A round, which was led by Chiratae Ventures (previously known as IDG Ventures). The Desai Family Office and several others including high-net-worth-individuals (HNWIs) also took part in the round…. Read More

January 21, 2020 @ 3:00 am By JD Alois  |  

Monerium, a licensed e-money issuer will be utilizing the Algorand blockchain protocol to provide fiat currency transactions, according to a company release. Monerium is registered in Iceland and is authorized by the Financial Supervisory Authority of Iceland. The company received regulatory approval last June. The… Read More

January 20, 2020 @ 2:47 pm By Omar Faridi  |  

Singapore-headquartered neobank Tonik Financial Pte. Ltd. has reportedly been awarded an operational license from the Bangko Sentral ng Pilipinas (BSP), in order to offer financial services in the Philippines. The license will allow Tonik, via its local division Tonik Digital Bank Inc., to offer a… Read More

January 20, 2020 @ 1:14 pm By Samantha Hurst  |  

Banking group DBS announced on Monday it has launched a new solution to transform cash and paper-based B2B payments and collections landscape for businesses in Singapore. The bank reported its QR-code based solution is powered by DBS RAPID and DBS MAX and addresses Singapore’s aim… Read More

January 18, 2020 @ 10:38 am By Omar Faridi  |  

Singapore-based Fintech firm CredoLab has confirmed that the Financial Services Authority (OJK) has officially recognized it as an established provider of financial technology services to companies in Indonesia. Michele Tucci, chief product officer at CredoLab, stated: “Clients can rely on the OJK’s assessment and audit… Read More

January 16, 2020 @ 10:25 pm By Omar Faridi  |  

We recently caught up with Shaun Djie, co-founder and chief operating officer at Digix, one of the first “smart-asset” companies leveraging blockchain tech to account for the authentication and provenance of 99.99% investment-grade gold bullions. Shaun currently serves as a board member for Singapore’s IT… Read More

January 15, 2020 @ 10:46 pm By Omar Faridi  |  

Amazon Pay in India has received a capital injection of INR 13.5 billion (appr. $19.3 million) from its Singapore and Mauritius-headquartered parent entities, according to a filing with the registrar of companies (RoC). As noted in the financial documents available on business intelligence and information… Read More

January 14, 2020 @ 8:02 am By Samantha Hurst  |  

iSTOX, a regulated capital markets platform that provides digital security issuance and trading, announced on Tuesday it secured a $5 million investment from South Korea-based Hanwha Asset Management. This new investment comes just a couple of months after iSTOX received a $5 million investment from… Read More

January 14, 2020 @ 12:04 am By JD Alois  |  

A consortium led by Enigma Group has applied for a Digital Full Bank license in Singapore, according to a company release. The co-applicants are said to include Singapore-based companies, Qrypt Technologies, 2359 Media and Blockchain Worx, along with UK-based Enigma Global Holdings. The group adds… Read More

January 12, 2020 @ 8:53 am By Omar Faridi  |  

Thailand is currently laying the groundwork for standalone or independently-functioning online banks as the Southeast Asian nation tries to catch up with other nearby markets that have been upgrading their banking infrastructure. Veerathai Santiprabhob, governor of the Bank of Thailand, noted during a recent interview:… Read More

January 7, 2020 @ 7:39 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has seen 21 different entities apply for a digital-only bank license. MAS had set a deadline for applications of December 31, 2019. MAS is offering just 5 different digital bank licenses. These licenses include two digital full bank (DFB)… Read More

January 6, 2020 @ 8:30 am By Omar Faridi  |  

The Singapore Business Federation (SBF) will reportedly be joining a consortium that’s led by Ron Sim‘s V3 Group (a brand creator and developer and an Asian luxury group in the lifestyle and wellness markets) and EZ-Link, a stored-card operator that is planning to acquire a… Read More

January 5, 2020 @ 6:59 am By Xu Gao  |  

Ant Financial Applies for Singapore Digital Banking License On January 2nd, Ant Financial confirmed that it had applied a digital wholesale banking license in Singapore as an effort to promote the development of local digital banking and global financial inclusion. As early as November 19th… Read More

January 2, 2020 @ 7:45 am By Omar Faridi  |  

A consortium, which includes Fintech firm Razer and the founders of Sheng Siong, has reportedly filed an application for obtaining a digital full-bank license in Singapore. The application notes that the consortium wants to mainly focus on the “underserved youth and millennials segment.” Insurance business… Read More

December 30, 2019 @ 10:40 am By Samantha Hurst  |  

Germany-based global provider of digital payments and commerce solutions Wirecard recently announced it has teamed up with Singapore currency exchange platform FXchange to provide outbound and inbound travelers in Singapore with digital payment options. Wirecard reported that the duo will be launching multi-currency Visa cards and a… Read More

December 30, 2019 @ 8:48 am By Omar Faridi  |  

Non-financial firm ride-hailing service provider Grab confirmed on December 29 that it is partnering with one of Singapore’s largest telecommunication companies, Singtel, in order to acquire a digital full bank license in the Asian country. Singapore is currently accepting applications for a licenses to establish… Read More

December 25, 2019 @ 9:28 pm By Omar Faridi  |  

Malaysia now appears to be a promising market for virtual or challenger banks, according to Big Four auditing firm PricewaterhouseCoopers’ (PwC) Malaysia division. The country’s reserve bank is planning to introduce its virtual or digital banking licensing guidelines for industry consultation. In a recent interview,… Read More

December 24, 2019 @ 12:33 pm By JD Alois  |  

Earlier this year the Monetary Authority of Singapore (MAS) revealed its intent to issue digital bank licenses. Announced in June, applicants have until the end of this year (December 31) to apply. This means a license for digital-only banks. Existing traditional banks that offer digital… Read More