Tagged: thailand

January 12, 2020 @ 6:09 pm By Omar Faridi  |  

Thailand-based Lightnet, a Stellar blockchain-enabled platform, has reportedly secured $31.2 million in funding in order to further develop its international payments service in the Southeast Asia region. The Bangkok-based company has finalized a Series A investment round that was led by established Asian financial conglomerates,… 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 9, 2020 @ 2:18 pm By JD Alois  |  

Fintech forward bank Siam Commercial Bank (SBC) has partnered with blockchain firm Ripple, according to a blog post. SBC is Thailand’s oldest bank and has established itself as willing to push forward with Fintech partnerships. According to Ripple, SCB and Ripple will work together to… Read More

December 13, 2019 @ 8:03 am By Omar Faridi  |  

Thailand’s “full-stack” Insurtech Sunday recently revealed that it has secured an additional $11 million extension to its Series A round, which is led by Quona Capital, a Fintech VC firm whose funds are supported by Accion, along with contributions from existing investors such as Vertex…. Read More

December 7, 2019 @ 7:44 pm By Cali Haan  |  

Authorities in Thailand have arrested 24 Chinese nationals perpetuating a scam involving cryptocurrencies and solicitation phone calls to citizens living in China. According to the Thai Immigration Bureau, the parties arrested were recruited by a gangster who, open the workers’ arrival, confiscated their passports. The… Read More

November 22, 2019 @ 9:00 am By Omar Faridi  |  

Siam Commercial Bank Pcl, Thailand’s largest commercial bank in terms of total assets, is reportedly preparing to spin off its Fintech branches as the institution attempts to monetize its efforts into tech investment, at a time when its earnings from traditional lending have been relatively… Read More

October 17, 2019 @ 10:56 am By Cali Haan  |  

Seamico Securities, which has been awaiting the green light to fire up an ICO portal called SE Digital inThailand, says it has been informed by the Thai Securities and Exchange Commission that it may, “initiate its business.” As per a letter hosted on the Seamico… Read More

October 16, 2019 @ 10:31 am By Omar Faridi  |  

Southeast Asia’s internet and e-commerce economy is growing steadily due to the widespread use of mobile phones. The region’s middle class has also been growing, according to a recent report compiled by Google, Temasek and Bain & Company. Published earlier this month, the e-Conomy SEA… Read More

October 1, 2019 @ 1:57 am By Omar Faridi  |  

Tarin Thaniyavarn, the country head for Fintech firm Grab’s Thailand division, points out that advancements in telecommunications and mobile technology allow users to perform and manage many different tasks from their smartphones. For example, we can book rides, order meals or groceries, and pay for… Read More

September 5, 2019 @ 9:05 pm By Cali Haan  |  

More crypto action in Thailand this week as a man alleged to have worked as part of a Thai-Vietnamese gang that defrauded investors “in at least 10 Asian nations” via cryptocurrencies was arrested while recreating on a Bangkok soccer field Wednesday, The Bangkok Post reports…. Read More

September 4, 2019 @ 3:11 am By Cali Haan  |  

Thailand’s largest cryptocurrency trading platform, Bitcoin Co., has announced it will be shutting down Sept 30th: “Bitcoin Co. Ltd. has decided to discontinue offering digital exchange services and wallet services at our BX.in.th website…” The company cites a desire, “to focus on other business opportunities,”… Read More

August 27, 2019 @ 6:41 pm By Cali Haan  |  

The Thailand Securities and Exchange Commission (SEC) is warning the public there to be wary of crypto investment schemes soliciting investments from offshore, The Bangkok Post reports. The latest warning named one company in particular, FX Trading Corporation, although “several other companies and websites” are… Read More

August 15, 2019 @ 11:59 am By JD Alois  |  

Privacy Coin Zcoin (XZC) claims to be the first crypto available to 5 million merchants in Thailand which are registered to the Thai QR code system. Of course, being available does not mean consumers will use the crypto. But Zcoin believes that by plugging into… Read More

August 6, 2019 @ 2:40 am By Cali Haan  |  

Police Major Gen Preecha Charoensahayanon, chief of Thailand’s Anti-Money Laundering Office (AMLO) says cryptocurrencies, “will be a tool of new money laundering,” in the country going forward. “That’s why we’re amending laws to prepare us for new online missions,” Charoensahayanon told The Bangkok Post. Charoensahayanon… Read More

July 25, 2019 @ 11:13 am By JD Alois  |  

Thailand’s Ministry of Finance has granted Huobi a digital asset trading license. This will be the 5th such license approved in Thailand. The license allows Huobi to trade in tokens and fiat. In May of 2018, Thailand announced that only compliant and approved platforms could… Read More

July 14, 2019 @ 1:12 pm By JD Alois  |  

Digital banking and online lending is a huge portion of the future of finance. The days of brick and mortar dominance is slowly drifting away as the next generation of consumers prefer banking on their iPhone or Android smartphone. Last week, Deutsche Bank announced a… Read More

June 15, 2019 @ 2:00 pm By Xu Gao  |  

Insurtech Platform Shuidi Completes RMB 1 billion C Round of Financing led by Boyu Capital On June 12th, China’s leading Insurtech platform Shuidi (meaning waterdrop in English) was reported to secure RMB 1 billion in C round of financing. The investment was led by Boyu… Read More

May 23, 2019 @ 8:48 am By Samantha Hurst  |  

InstaReM, a Southeast Asia’s digital cross-border money transfer service provider, announced on Wednesday it has formed a new partnership with Thailand-based banking group, KASIKORNBANK. The partnership will reportedly help InstaReM further entrench itself as a leading player in the institutional payments space. While sharing more… Read More

May 17, 2019 @ 4:13 am By Cali Haan  |  

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

May 14, 2019 @ 7:42 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) have signed a Memorandum of Understanding (MoU) to collaborate on Fintech innovation between the two regulatory authorities. The MoU was signed between Norman Chan, Chief Executive of the HKMA, and Veerathai Santiprabhob, Governor… Read More