Tagged: southeast asia

March 7, 2022 @ 6:59 pm By Omar Faridi  |  

Luna Foundation Guard, which secured $1 billion to establish a Bitcoin reserve for the UST stablecoin, has confirmed that the funding would be channeled towards creating a new reserve that may serve as a release valve for UST redemptions at the time of selloffs in… Read More

March 6, 2022 @ 10:17 pm By Omar Faridi  |  

BigPay, a Capital A venture firm and virtual banking platform, announced the introduction of its all-digital loans issued by “BigPay Later”, which is a wholly owned subsidiary operating within the group and a digital money lending license holder. The personal product provided by BigPay Later… Read More

March 6, 2022 @ 6:32 pm By Omar Faridi  |  

The Securities and Exchange Commission (SEC) in the Philippines has reportedly granted crowdfunding permits to SeedIn Technology and Eastern Securities Development Corporation. The licenses should allow the business entities to serve as crowdfunding intermediaries and provide crowdfunding portals, offering the Southeast Asian country’s SMEs with… Read More

March 6, 2022 @ 6:28 pm By Omar Faridi  |  

Maybank recently revealed that it has introduced its digital home financing solution “Maybank Home2u” via its MAE app which is able to provide approvals within seconds and is available to existing and new clients. Supported by Maybank’s automated decisioning engine, the solution provides a fully… Read More

March 5, 2022 @ 5:35 pm By Omar Faridi  |  

Uppsala Security, a provider of security tools and services for Crypto AML/CTF, Transaction Risk Management, Regulatory Compliance, Transaction Tracking, and Cyber Security recently announced the integration of its RSS news feed with Crypto.com’s Uppsala Security Price Page. Via this integration, Crypto.com users may directly access… Read More

March 1, 2022 @ 11:03 pm By Omar Faridi  |  

Malaysia’s CIMB has reported a credit loss of around $67 million because of a processing error that led to some clients receiving duplicate credits to their accounts. CIMB‘s management discovered the glitch, which was related to a third-party financial remittance service, in January 2022. The… Read More

February 27, 2022 @ 11:37 pm By Omar Faridi  |  

Since the start of the Coronavirus crisis, both digital-service use and the digital market have grown significantly in Southeast Asia. According to the e-Conomy SEA 2021 Report by Google, Temasek, and Bain & Company, there are now around 350 million digital consumers in the region… Read More

February 22, 2022 @ 12:25 am By Omar Faridi  |  

PayMongo, an online payments Fintech in the Philippines, has secured $31 million via a Series B round from JAM Fund, the venture capital firm of Tinder co-founder Justin Mateen, and other investors including ICCP-SBI Venture Partners and Kaya Founders. Super thrilled to announce @paymongo has… Read More

February 20, 2022 @ 10:17 pm By Omar Faridi  |  

Cross-border payments Fintech Wise (LSE:WISE) intends to hire around 150 professionals for its Singapore business offices in 2022. Wise‘s management noted that this includes key roles focused on engineering, product development, design, analytics, compliance, payments and various other operations in order to support ongoing product… Read More

February 19, 2022 @ 11:28 pm By Omar Faridi  |  

Siam Commercial Bank (BKK: SCB) has reportedly made a $100 million investment in Indonesia’s Buy Now, Pay Later (BNPL) platform Akulaku. Established in 2016, Akulaku has expanded its operations to become one of the largest BNPL and consumer financing providers in Indonesia, handing out more… Read More

February 18, 2022 @ 3:07 am By Omar Faridi  |  

The VeChain Foundation claims that 2021 “proved to be a significant year” for them with many developments taking place — some of which are “fundamentally game-changing” and others that “greatly benefit” their ability to serve the global economy with blockchain-based services. One such change that… Read More

February 15, 2022 @ 11:11 pm By Omar Faridi  |  

Indonesia’s Financial Services Authority (OJK) recently announced that they’re strictly prohibiting the nation’s financial services providers from marketing or facilitating the trading of cryptocurrencies. The Indonesian regulator has cautioned that the value of virtual currencies are subject to market fluctuations and investors need to be… Read More

February 10, 2022 @ 10:08 pm By Omar Faridi  |  

Rino, the newly-launched startup founded by Trung Thanh Nguyen, has finalized a $3M pre-seed round in order to accelerate the firm’s blueprint for 10-minute instant delivery by “setting up dark stores and building its own logistics units beginning with Ho Chi Minh City.” Trung Thanh… Read More

February 10, 2022 @ 8:23 am By Omar Faridi  |  

Home-grown startup PDAX (in the Philippines) has announced that it acquired over $50 million in funding, led by Tiger Global. Tiger’s investment completes the firm’s Series B round of funding, which began with $12.5 million back in August of last year. Alex Cook, Partner, Tiger… Read More

February 6, 2022 @ 4:57 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) recently noted that banks in the Southeast Asian country have “substantially” implemented the additional measures to enhance the security of virtual banking announced on 19 January 2022. The measures, taken together, offer a “significant” added layer of security to… Read More

January 31, 2022 @ 11:10 pm By Omar Faridi  |  

Singapore-headquartered Insurtech firm 360F and AXA recently announced that they will be introducing a full-scale production of their advisory tool, called “My FinScore.” 360F had supported the launch of My FinScore with AXA Singapore earlier in January. The product was made available to AXA’s 700-strong… Read More

January 31, 2022 @ 10:49 pm By Omar Faridi  |  

Plentina, a Buy Now Pay Later (BNPL) Fintech focused on serving emerging markets, has teamed up with Southeast Asia’s digital retailer ZALORA in order to provide its short-term financing option. Residents of the Philippines may download the Plentina app to access loans valued at up… Read More

January 31, 2022 @ 9:17 pm By Omar Faridi  |  

Axiata Digital’s Fintech division Boost is reportedly planning to expand its products and services while strengthening its regional presence. The firm announced these plans after a year of steady growth in revenues and product innovation. Boost reveals that its client base increased to more than… Read More

January 31, 2022 @ 8:54 pm By Omar Faridi  |  

Qwikcilver, a subsidiary of Pine Labs and provider of end-to-end gifting solutions, has teamed up with the Philippine Airlines (PAL) for its digital gift card program. Developed with assistance from travel tech firm Amadeus, this particular program will help PAL to further improve customer satisfaction… Read More

January 30, 2022 @ 9:40 pm By Omar Faridi  |  

ForgeRock (NYSE: FORG), an international digital identity provider, recently announced its continued expansion across Asia and has made ForgeRock Identity Cloud “available locally from two new data centers in Indonesia and Hong Kong.” As mentioned in the update, this move expands ForgeRock’s Identity Cloud into… Read More