Tagged: vietnam

Report: Southeast Asia’s Growing Internet Economy Is Driving Fintech Adoption

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

Flywire Announces New Partnership With Vietnamese Banking Group VPBank For International Tuition Payments

Flywire, a U.S.-based fintech firm that provides global payment and receivables solutions for education, healthcare, and commercial enterprises, announced on Thursday it has formed a new partnership with Vietnam-based banking group VPBank for International Tuition Payments for Vietnamese students. Flywire reported that through the partnership… Read More

Citi Announces New Partnership With Vietnam Fintech Payoo

Citi Treasury and Trade Solutions announced last week it has formed a strategic partnership with Vietnam-based intermediary payment service provider Payoo to facilitate consumer-to-business collections for corporate clients in the country. Citi reported that under the partnership, its corporate clients in Vietnam will be able… Read More

Linh Thanh Group and KRONN Ventures AG Sign MOU to Launch Crypto Exchange in Vietnam

KRONN Ventures AG, a Switzerland based blockchain focused company, has signed a memorandum of understanding(MOU) with Linh Thanh Group, for the “production of cryptocurrency and the establishment of cryptocurrency exchange” in Vietnam. According to a release, the group has received a license from regulators to… Read More

Global Payments Platform PaySend Forms Partnership With Vietcombank

PaySend, a UK-based global payments platform, has formed a new partnership with Vietcombank Remittance Company (VCBR). This news comes less than six months after PaySend secured $20 million through its latest funding round, which was led by investment firm MARCorp Financial.  According to Finextra, the partnership between PaySend and… Read More

Laotian Banking Officials Urge Citizens to “Think Carefully” Before Investing in Crypto in Unregulated Laos

Loas Vnag Vieng by Remi Yuan on Unsplash

Officials from The   (BOL) have urged Laotians to  “think carefully” before investing in cryptocurrencies in Laos’s unregulated markets, Vientiane Times (VT) reports. BOT officials were reportedly moved to issue the notice after seeing local advertisements soliciting citizens to buy, sell and use cryptocurrencies.. An official who spoke… Read More

1000 People Petition US Government to Extradite Sky Mining Crypto CEO to Face Fraud Charges in Vietnam

Investors alleging that the CEO of Sky Mining, Le Minh Tam, defrauded them of $36 million dollars are continuing their fight for restitution, this time in the form of a petition at Change.org. The petition lists Tam’s passport number and claims he solicited contributions of… Read More

Disappearing Act: CEO of Vietnamese Crypto Mining Firm Allegedly Steals $35 Million and Hundreds of Machines

Another high profile crypto rip off in Vietnam may have further imperiled the nascent sector there. According to VN Express, 20 investors have filed a complaint with the Vietnamese police claiming that the CEO of a cryptocurrency “cloud mining” scheme called Sky Mining has defrauded them… Read More

Ban on Crypto Mining Machines Imports to Vietnam One Step Closer to Reality

Online publication Vietnam News is reporting that the Government of Vietnam has moved one step closer towards banning crypto mining machine imports in the country. The move comes after the State Bank of Vietnam (SBV) agreed to support a proposal from the Vietnamese Ministry of… Read More

Vietnam’s Finance Ministry Suggests Banning Imports of Cryptocurrency Mining Equipment

In a gesture that may show poor understanding of crypto generally, the Vietnamese Ministry of Finance has proposed a temporary ban on imports of crypto mining equipment to the country. According to the Hanoi Times, the Ministry gave two reasons for the proposal. First, “The act… Read More

Crypto Exchange Huobi Says it Intends to Make Vietnam a “Strategic Fortress”

Huobi.Pro, a cryptocurrency exchange, says it wants to make Vietnam a strategic fortress. The comments came during a keynote speech at the Blockchain Festival Vietnam. Huobi claimed an annual turnover of $850 million in 2017 – so it is pretty big. While some jurisdictions have… Read More

Singapore Partners with Vietnam as MAS Signs New Fintech Agreement

The Monetary Authority of Singapore (MAS) and the State Bank of Vietnam (SBV) have agreed to form a new partnership to encourage Fintech innovation while simultaneously strengthening cooperation in banking supervision. MAS has signed numerous bilateral Fintech agreements with many different jurisdictions. The strategy has… Read More

Vietcombank Selects Finastra to Drive Digital Transformation Initiatives

UK-based fintech Finastra announced last week it was selected by the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to drive its digital transformation initiatives. Finastra reported its technology will streamline and automate Vietcombank’s operational processes and improve overall customer experience to enhance… Read More

Mekong Business Initiative Teams Up With State Bank of Vietnam to Launch Fintech Challenge Vietnam

Australia-funded Mekong Business Initiative has teamed up with the State Bank of Vietnam to launch Fintech Vietnam Challenge, which is described as a global call to local and international companies to proposed fintech solutions which will benefit Vietnam. The program’s description reads: “The Fintech Challenge Vietnam inventivizes adoption… Read More

NextTech Aims To Be Vietnam’s Alibaba

E-commerce company NextTech, which is based out of Hanoi, Vietnam, is aiming to become its country’s version of Alibaba. Alibaba, of course, is China’s e-commerce and technology (including Fintech) juggernaut that helped the country surpass the US in mobile payments by more than 50 times. Can… Read More

Woomentum Coming to Vietnam

The Singapore based platform, Woomentum, has announced its plan to expand into the emerging market in Vietnam. Woomentum, founded by Mouna Aouri, is a crowdfunding site that focuses on female entrepreneurs, providing them with support during the most difficult stage of the start-up processes. Their website states:… Read More

State Bank of Vietnam Creates Steering Committee on Fintech

Last Friday, the Governor of the State Bank of Vietnam (SBV) signed Decision No.328/QĐ-NHNN to establish SBV Steering Committee on Fintech. According to the bank, the Steering Committee on Fintech will be led by Deputy Governor Nguyen Kim Anh and Deputy Director of SBV Payment… Read More

P2P Bitcoin Marketplace Remitano Expanding Globally

Vietnam-based peer-to-peer bitcoin marketplace platform Remitano is continuing its global expansion into the English-speaking market. Remitano is already operating in the U.S., Australia, Malaysia, Nigeria, Vietnam, Cambodia, and China. Cryptocoins News reported that CEO and Co-Founder Dung Huynh who is also the company’s Lead Product… Read More

Mekong Capital Invests in Pawn Shop Service Chain & Technology

F88 is a Vietnam-based pawn shop service chain and it secured last month an undisclosed amount of investment thanks to its attractive tech platform that “was launched to overcome the difficulties in accessing funds from customers, meet market demand, as well as catch up with… Read More

Vietnam Shifts Toward Cashless Economy

Vietnam is moving forward in reducing cash transactions and formalizing electronic payment methods. Deputy Prime Minister Vuong Dinh Hue signed a plan that ensures that the country has the infrastructure and equipment that it needs to progress toward a cashless economy by 2020. Focus areas… Read More

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