Asia

Cryptocurrency Promoted at Hong Kong Protests

A cryptocurrency ATM company gave out free water and umbrellas to protestors in Hong Kong July 1st, and crypto trading platforms have been, “providing a way to off-ramp from HKD…and advocating for transactional privacy,” as resistance to recent power assertions by China enters its 11th week. According… Read More

Report: 97% of Korean Crypto Exchanges Close to Bankruptcy

97% of Korea’s 200 cryptocurrency exchanges are at risk of bankruptcy as low volume and tightening regulations temper what was once one of the world’s busiest crypto-trading markets, Business Korea (BK) reports. Local exchange revenues are also being diminished as Korean crypto-coin projects increasingly seek to… Read More

ICONLOOP Applys Blockchain Service Broof to Co-Purchasing Art Service Platform ARTnGUIDE

ICONLOOP, a blockchain enterprise based in South Korea, announced on Tuesday it has apply its blockchain-based certificate issuance service, which is called broof, to ‘ARTnGUIDE’, an online service platform in Korea for co-purchasing works of art operated by Yeolmae Company. ICONLOOP reported it has signed… Read More

Fintech: The Reserve Bank of India Posts Framework for Regulatory Sandbox

The Reserve Bank of India (RBI) has published the final “Enabling Framework for Regulatory Sandbox,” as it joins a growing legion of government entities seeking to facilitate Fintech innovation in a compliant manner.  The draft Framework for the Regulatory Sandbox (RS) was published in April… Read More

Switzerland to Heavily Promote Domestic Fintech Firms at Forthcoming Singapore Fintech Festival

Switzerland Global Enterprise (S-GE) and the Swiss Business Hub ASEAN expect to showcase approximately 30 different Fintech firms at the upcoming Singapore Fintech Festival this coming November. A noted Asian Fintech Hub, the annual Singapore Fintech Festival has captured wide participation from Southeast Asia as… Read More

Ping An’s OneConnect Launches End-to-End Data Governance Solution in China

OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant Ping An Group, announced last week the launch of its Data Governance Solution in China. OneConnect reported that its solution can support smart management for all scenarios and a large amount of data…. Read More

Hexindai-Backed Musketeer Completes Registration For P2P Platform With the Indonesian Financial Services Authority

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced last week its invested Indonesian online lending platform, Musketeer Group, Inc. (Musketeer) has completed registration for its peer-to-peer lending platform with the Indonesian Financial Services Authority (OJK). Hexindai notably acquired a 20% equity stake in Musketeer in… Read More

China: WeiyangX Fintech Review

Tencent-backed WeBank Fined ¥2 million for multiple violations WeBank, China’s first internet bank, was fined for ¥2 million for multiple violations against Law of the People’s Republic of China on Commercial Banks. In an inspection last year, the Shenzhen branch of the China Banking and… Read More

Singapore: Tax Draft May Make Exchange of Digital Payments Tokens Exempt from Tax

Singapore has emerged as an Asian hub of crypto innovation. The southeast Asian country has always been Fintech friendly as policymaker has sought to establish a jurisdiction of financial innovation. Published last month, the Inland Revenue Authority of Singapore proposed an approach to crypto that… Read More

ZCoin Claims to be First Cryptocurrency Available to Over 5 Million Merchants in Thailand.

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

Wirex Becomes Type II Member of the Japan Virtual Currency Exchange Association

Wirex, a hybrid personal finance platform that merges blockchain tech and traditional finance, announced on Thursday it has become a type II member of the Japan Virtual Currency Exchange Association (JVCEA). Wirex claims that becoming a type II member is a vital and hard-earned step… Read More

Accenture Fintech Report: Huge Jump in Funding in UK & US While China Declines Following Big 2018

Global Fintech funding declined during the first half of 2019, driven by a drop in China. But while China dipped, Fintech investment jumped in other countries led by the US and the UK, according to a report from Accenture (NYSE: ACN). Yesterday, Crowdfund Insider reported… Read More

U.S. Insurtech Slice Teams Up With Sompo to Bring On-Demand Insurance to Asia

Slice Labs Inc., an on-demand insurance cloud platform provider, announced on Wednesday it has entered in a proof-of-value contract with Sompo to bring on-demand insurance to Asia. According to Slice, the new partnership brings on-demand insurance to the Asia Pacific region of Asia, the first… Read More

Peer to Peer Lender Fincera Targeted by Local Chinese Government in Demand to Cease Lending Operations

Fincera Inc. (OTCQB: YUANF), a China-based peer to peer lending platform providing access to capital for SMEs, has become the target of a local government attempt to shut down P2P lenders. According to a note from Fincera, the Hebei provincial government, where Fincera is based,… Read More

Blockchain AI Platform Singularity Signs Agreement with People’s Insurance Company of China

Singularity Studio, the for-profit spin-off of SingularityNET (SNET) – a non-profit Netherlands foundation building a decentralized blockchain AI platform, has signed a “Strategic Cooperation Memorandum” with PICC Finance Services. PICC is a subsidiary of the Fintech arm of the People’s Insurance Company of China Holding… Read More

What’s Going On? VC Fintech Deals Fall to 10 Quarter Low But Sector Still Hot as Fintech Unicorn Herd Now Numbers 48 at $187 Billion Valuation

Digital Banks are the New Shiny Global Fintech deals tallied 838 rounds worth $15.1 billion in the first six months of 2019 but the number VC backed Fintech deals dropped to the lowest number since Q4 of 2016, according to CBInsights quarterly Fintech report. While… Read More

Indian Telecom Jio Launching “Blockchain Network”

Indian telecom company Reliance Jio will launch, “one of the largest blockchain networks in the world over the next 12 months,” the company’s owner, Mukesh Ambani, told attendees at the company’s annual General meeting August 12th. Ambani also promised, “The network will have tens of thousands… Read More

Bitmain Alleges Fraudulent Use of Name by Mangocoin (MGC)

Bitmain, the world’s largest cryptomining firm and manufacturer of cryptomining equipment says the company name is being fraudulently used by a project called “Mangocoin.” “We recently become aware of the fraudulent use of the ‘Bitmain’ brand in the sale of a product named ‘Bitmain Cloud… Read More

China Banking Official: “People’s Bank Digital Currency Can Now Be Said to Be Ready”

After five years in development, the deputy director of the People’s Bank of China’s Payments and Settlement Division, Mu Changchun, says, “(The) People’s Bank digital currency can now be said to be ready.” Shanghai Securities News (SSN) writes that  Mu made the announcement at the third… Read More

Asian Cryptocurrency Services BitKan Announces New Partnership With Bitcoin.com

BitKan, an Asian-based cryptocurrency services platform, announced on Friday it has joined forces with Bitcoin.com. Founded in 2012, BitKan stated it provides a one-step integrated platform the crypto services, which includes a platform for crypto market data, a crypt wallet, and a crypto community. While… Read More

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