Tagged: thailand

The Bank of Thailand Publishes Paper on Central Bank Digital Currencies: The Way Forward

The Bank of Thailand has published a paper on central bank digital currency (CBDCs) entitle the Way Forward for Retail Central Bank Digital Currency in Thailand. Thailand has been a fairly innovation-friendly nation in regards to Fintech. Several years ago, Thailand participated in Project Inthanon,… Read More

Digital Asset Marketplace Zipmex Reports First Lamborghini Purchased with Crypto

Zipmex, a Singapore-based digital asset exchange that operates in multiple countries, says it has processed Asia’s first purchase of a Lamborghini using cryptocurrency. According to a release, Jo Chirawat used Zipmex’s mobile app to put a downpayment in Bitcoin on a 2021 Huracán EVO RWD… Read More

New QR Payments Solution Introduced by Bangkok Bank for Transactions between Thailand and Vietnam

Bangkok Bank, one the largest commercial banks in Thailand, has introduced an international QR payments solution that will run between Thailand and Vietnam. The solution is reportedly being deployed with assistance from the Bank of Thailand (BOT) and State Bank of Vietnam (SBV). Bangkok Bank… Read More

Open Banking Regulatory Framework in Thailand has Not Yet Been Fully Launched, but Digital Tech Adoption Remains Steady

There are no extensive regulations yet on Open Banking in Thailand, however, the government’s digital transformation strategy (and the Thailand 4.0 strategy) along with the introduction of the Personal Data Protection Act (PDPA) in 2020 indicate that the country may soon offer an Open Banking… Read More

SEC in Thailand Is Reportedly Backing off its Initial Plan to Set 1M Baht Minimum Annual Income Requirement for Crypto Investors

The Securities and Exchange Commission (SEC) in Thailand is reportedly backing off its initial draft plan that would have required a 1-million-baht (appr. $32,800) minimum annual income and various other requirements for local crypto investors. The Thai SEC clarified that the draft bill was meant… Read More

Enterprise Blockchain Firm R3 Expands in Thailand After Renewed Partnership with Bangkok Bank

R3 will expand its presence in Thailand, including new hires, after the renewal of its partnership with Bangkok Bank, according to a statement by the firm. Amit Ghosh, Head of APAC, R3, stated: “Thai enterprises are at the forefront of innovation, digital transformation and blockchain… Read More

Asia: P2P Lending Investment Outlook for HNWIs and Institutional Investors

The ASEAN economy is expected to become the fourth-largest economy in the world by 2030, growing at a pace of over 5% per year. Small and medium enterprises (SMEs) are the biggest contributors to this regional growth — they account for between 89% and 99%… Read More

Insurance Sector in Thailand Continues to Grow during COVID-19 with Insurtech AppMan Securing More Funding

The Insurtech industry in Thailand has been growing steadily with firms in the sector consistently finalizing million-dollar investment rounds. Meanwhile, traditional insurance service providers in the country have been working on their digital transformation strategies in order to remain competitive, as foreign companies are also… Read More

Southeast Asia’s Funding Societies, an Online Capital Formation Platform, Reports S$2 Billion in Business Financing Disbursals

Southeast Asia-based Funding Societies, a digital financing platform, has revealed that it has made S$2 billion (appr. $1.5 billion) in disbursals of business financing to SMEs across the region as the company enters its sixth year of offering loans. Funding Societies’ management noted that the… Read More

Deutsche Bank Partners With Southeast Asia’s 2C2P to Launch Payments Platform in Thailand

  Deutsche Bank (XETRA: DBKGn.DB /NYSE: DB) announced on Thursday it has joined forces with Southeast Asia’s 2C2P to launch a digital payments platform in Thailand. The banking group reported that through 2C2P’s platform,  corporate clients in Thailand will be able to maximize their business… Read More

Thailand-Based Insurtech AppMan Secures $4.6 Million Through Series A Funding Round

  AppMan, a Thailand-based insurtech, has reportedly raised $4.3 million through its Series A funding round, which saw participation from Siam Alpha Equity’s SME Growing Together 1 fund, Krungsri Finnovate, Casmatt, KTBST, and Poems Ventures, the venture arm of PhillipCapital Group. Founded in 2011, AppMan claims to be… Read More

Thailand’s Siam Commercial Bank’s SCB 10X Unit Launches $50M VC Fund for DeFi, Blockchain, Digital Assets Startups

SCB 10X, a subsidiary of Thailand’s Siam Commercial Bank or SCB (BKK: SCB), has launched a $50 million VC fund that will make strategic investments in early and growth stage startups globally. SCB is looking for initiatives that are focused on blockchain, decentralized finance (DeFi),… Read More

Funding Societes Expands into Thailand

Singapore based Funding Societies has announced the expansion of operations into Thailand. The online capital formation platform will operate under a crowdfunding license authorized by the Thai Securities and Exchange Commission. According to a note from Funding Societies, the company worked for more than a… Read More

Siam Validus, an SME Funding Platform, Acquires a Debenture Crowdfunding License from the SEC in Thailand

SME or small business crowdfunding platform Siam Validus has reportedly received a debenture crowdfunding license from the Securities and Exchange Commission of Thailand (SEC). Siam Validus is a joint initiative between Singapore’s SME financing platform Validus and SCG Distribution, a Thailand-based firm that specializes in… Read More

Thailand-Based Insurtech gettgo Scores $6.7 Million Investment From Muang Thai Group Holding

  gettgo, a Thailand-based insurtech startup, announced on Friday it secured a $6.7 million investment from Muang Thai Group Holding Co. gettgo, which operates under Muang Thai Broker Co., Ltd., a subsidiary of Muang Thai Group Holding Co., is on a mission to build a new… Read More

Thailand’s Online Payments Platform Omise Chooses Netcetera’s 3-D Secure Server to Secure Digital Transactions in Asia

Thailand-based Omise, a digital payments platform, has reportedly chosen the Netcetera 3-D Secure Server in order to secure its transactions in the APAC region. The update is expected to go live this month. Netcetera, a Switzerland-based software firm providing virtual payment solutions, offers certified products… Read More

How the Regulatory Framework for Crowdfunding Platforms in Southeast Asia will Benefit SMEs and Investors

Peer-to-peer (P2P) lending has come a long way since its early days as a casual crowdfunding platform. Today, individual borrowers and small and medium-sized enterprises (SMEs) can access loans without the hassle of going through banks and lengthy financial assessments. Still, P2P lending is a… Read More

Majority of ASEAN Region Fintech Firms are Planning to Raise Additional Funds while Expanding Operations in 2021: Report

Four in five or 80% of Fintech companies in the ASEAN region are focused on expanding their operations following the COVID-19 outbreak. ASEAN member countries include Brunei, Burma (Myanmar), Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, the Philippines, Singapore, Thailand and Vietnam. A report from UOB, PwC… Read More

Fintech Firm Lightnet and Siam Commercial Bank to Support Cross-Border Payments from South Korea to Thailand

Siam Commercial Bank (BKK:SCB) has partnered with Lightnet to provide cross-border fund transfer services from South Korea to Thailand. As a digital banking service provider, Siam Commercial Bank (SCB) is focused on continuously updating its Fintech capabilities. SCB will now be working with the Lightnet… Read More

How New P2P Regulations Make the Industry Safer for Investors in Southeast Asia

Digital lending platforms have made strong inroads in Southeast Asia over the past few years. In 2016 alone, peer-to-peer (P2P) business lending generated US$115.01 million—more than half of Southeast Asia’s total alternative financing market that year.  This growth can be attributed to a combination of… Read More

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