Posts Tagged ‘Asia’

Thai Fintech Association, ICORA offer crypto-assets training course

The Thai Fintech Association, together with ICORA Co Ltd, is offering a Crypto Asset Revolution (CAR) course, which will provide participants with a complete understanding and knowledge about investing in crypto assets and ICOs. Thai investors, business owners and professionals from financial institutions have a chance via the new course to learn important and useful […]

PayPal Joins Indonesian Venture Firm to Develop Fintech Startups

PayPal Holdings Inc. is teaming up with Indonesian venture-capital firm Alpha JWC Ventures to back emerging financial technologies that can be developed for Southeast Asia. Under the partnership, Jakarta-based Alpha JWC will contribute as much as $5 million in funding for PayPal Incubator. After being selected by PayPal and Alpha JWC senior executives in Singapore […]

Explaining KYC, and why fintech startups need to know about it

Just a few years ago, businesses could have set up shop easily in Singapore. Now they need to undergo due diligence checks, such as declaring funding sources. There have been stricter regulations, which led to the increased importance of know-your-customer (KYC) processes for businesses. KYC is a process that allows businesses to identify who their […]

New initiative to fast-track Fintech patent application-to-grant process in Singapore

The Intellectual Property Office of Singapore has launched a new Fintech Fast Track initiative which provides expedited patent application-to-grant process for Fintech inventions. Under this initiative, Fintech patents will be granted in as quickly as six months, compared to at least two years for normal applications. This will support the growth of Singapore’s Fintech sector by helping businesses bring […]

Hong Kong and Singapore Emerge as New Meccas for Token Sales

Hong Kong and Singapore have recently emerged as the new Meccas for token sales following bans in China and South Korea. The number of initial coin offerings in the two countries has skyrocketed in recent months, as companies seek a favorable environment to raise funds outside their home countries. Neither Hong Kong nor Singapore currently has specific rules for […]

Alibaba enters partnership with Thai government

To foster the digital economy in Thailand, the Government of Thailand and Alibaba have entered into a strategic partnership. Under the agreement, agencies of the Thai government, and business units from Alibaba will work closely to drive the development of the Eastern Economic Corridor (EEC) under the Thailand 4.0 policy, and drive the country’s digital economy. Alibaba’s […]

FINTECH: Betting on blockchain

Advancements in financial technology are opening up new opportunities for fast-growing Asian companies to finance trade and expansion, but pose new challenges for the region’s regulators. The most promising new technology to arrive in the financial sector is undoubtedly the blockchain, or distributed ledger technology, where a secure record of transactions is kept in ‘blocks’ of […]

Exit Scam: Vietnamese Cryptocurrency Company Goes Dark After Allegedly Duping Investors Of US$660M In ICOs

Ho Chi Minh City-based company Modern Tech has gone dark after allegedly deceiving 32,000 people into investing an estimated VND15 trillion (US$660 million) into two fake cryptocurrency projects. Modern Tech had claimed to be the authorized Vietnamese representative of two cryptocurrencies, Ifan and Pincoin. It was responsible for conducting two ICOs on their behalf. Read more

Japan Could Have More Than 3 Million Crypto Traders

Japan’s Financial Services Agency has released domestic cryptocurrency trading statistics for the first time. According to data gathered from 17 cryptocurrency exchanges in Japan, as of March 31 this year, the country has at least 3.5 million individuals that are trading with cryptocurrencies as actual assets. Read more

South Korean cryptocurrency executives detained

South Korean prosecutors have detained Kim Ik-hwan, chief executive of Coinnest, South Korea’s fifth-largest cryptocurrency exchange, and the head of another cryptocurrency exchange, along with two other executives at the exchanges for alleged embezzlement and fraud. Prosecutors raided three exchange operators including Coinnest last month and seized their books. They allege that the four executives […]