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China’s Insurance Giant, Ping An Considering Digital Banking License in Singapore
Ping An’s fintech unit OneConnect, is considering to apply to Singapore digital banking license, according to a recent Bloomberg report. The insurtech giant was ranked by Forbes as the largest insurer in 2018 valued at US$ 217 billion, Its fintech
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Crypto Exchange Huobi to Launch a USD$ 515 Blockchain Phone
Huobi Exchange announced that they will be launching their blockchain phone named “Acute Angle” soon. As part of that launch, Huobi will enable Huobi Token (HT) users to buy their own Acute Angle phones using Huobi Tokens. Currently available in China,
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New Digital Banks Unlikely To Threaten DBS, OCBC and UOB, Fitch Ratings Says
Singapore’s granting of up to five new digital bank licenses is unlikely to threaten the dominance of the country’s three largest banks, DBS Bank, OCBC Bank and UOB, Fitch Ratings says. The ratings agency believes that DBS, OCBC, and UOB
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Philippines’ Fintech Industry Calls for ASEAN Wide Standardised QR
The ASEAN must standardize quick-response (QR) codes for digital payments platforms to facilitate and simplify regional trade. Lito Villanueva, Chief Innovation and Inclusion Officer at Rizal Commercial Banking Corp. (RCBC) and chairman of FinTech Alliance.ph, said that the immediate standardization
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Kredivo Closes up to US$20m Credit Line with Partners for Growth
Jakarta-headquartered Kredivo, a digital credit platform for retail borrowers across Indonesia, and Partners for Growth V, L.P. (PFG), a venture debt firm in the U.S. and Australia, announced today the closing of a debt line of up to US$20m to
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London-Based Open Banking Platform Raises US$ 10 Million, Expands to Singapore
Railsbank an open banking and RegTech platform, announces that it has raised $10m in a Series A funding round, led by Moneta Capital and joined by CreditEase, Clocktower Technology Ventures, Singapore Life and existing investors including Firestartr. Interestingly, Railsbank is
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State-Owned Overseas Filipino Bank to Become a Fully Digital Bank by 2020
The Overseas Filipino Bank (OFBank), a state-owned bank and a subsidiary of Land Bank of the Philippines, is planning to become a fully branchless, digital lender by mid-2020. Currently pending approval from the Bangko Sentral ng Pilipinas (BSP), the country’s
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Visa Racks Up Fintech Investments in 2019
Visa, the world’s second-largest card payment organization, has turned to fintech acquisitions, investments and strategic investments to further expand its payments capabilities and reach. At the firm’s Q3’2019 earnings conference call on July 23, Visa’s CEO Alfred F. Kelly, noted
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New Wallet in Vietnam: SmartPay Acquires More Than 200,000 Users Since Its Launch
Launched by Smartnet in May 2019, SmartPay acquired over 200,000 users and 3,000 merchants across Vietnam. Different types of merchants have been joining SmartPay to accept mobile payments – from individual entrepreneurs and street food vendors to food and beverage
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