Thailand
Singapore and Thailand Announces World’s First Linkage of Real Time Retail Payment Systems
The Monetary Authority of Singapore (MAS) and the Bank of Thailand (BOT) launched the linkage of Singapore’s PayNow and Thailand’s PromptPay real time retail payment systems. MAS said that it is the first of its kind globally. The linkage is
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Bangkok Bank Unveils Cross-Border QR Payments Between Thailand and Vietnam
Bangkok Bank has unveiled cross-border QR payments between Thailand and Vietnam with the cooperation of the Bank of Thailand (BOT) and State Bank of Vietnam (SBV), claiming to be the first to do so. The service provided by Bangkok Bank
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Insurtech Qoala Acquires Thai’s FairDee; Expands to Thailand
Qoala, an insurtech startup backed by the likes of Sequoia and MDI Ventures announced today the acquisition of FairDee, a Thai insurtech to expand their reach into the Thailand market. Since its 2018 launch, Qoala said that it now processes
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Bank of Thailand Revealed Plans To Focus on Retail Digital Currency Next
Bank of Thailand (BOT) announced the results of its Central Bank Digital Currency (CBDC) for Business Prototype Development Project and revealed plans to focus on retail CBDC as its next step. Initiated in June 2020, Project Inthanon marks the first
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The State Open Banking in Thailand in 2021
Though no legal regulation on open banking currently exists in Thailand, the government’s digital push with the Thailand 4.0 strategy, and the introduction the Personal Data Protection Act (PDPA) last year suggest a move to open banking frameworks is inevitable.
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Interest in Thai Insurtech Sector Picks up
Interest in Thailand’s insurtech sector is picking up, with companies in the space closing million dollar funding rounds, incumbents ramping up digital capabilities, and foreign companies entering the market. So far, 2021 has seen two Thai insurtech companies securing funding.
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Siam Commercial Bank’s Venture Arm Launches $50 Million Fund for Blockchain Startups
SCB 10X, a subsidiary of Siam Commercial Bank, has set up a new $50 million venture capital fund will invest in both early and growth stage startups globally that are dedicated to blockchain, decentralised finance (DeFi), and digital assets. This
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Funding Societies Notched up Its 4th Market With Thailand Expansion
Funding Societies, Southeast Asian SME digital financing platform, has launched in Thailand and will operate under the debt-crowdfunding license given by Thailand’s Securities and Exchange Commission. This expansion comes after more than one year of working with Thai regulators and
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Validus’ Thai Entity Secures Crowdfunding License From Local Regulator
SME crowdfunding platform Siam Validus has been granted a debenture crowdfunding license by the Securities and Exchange Commission of Thailand (SEC). Siam Validus is a joint venture between Singaporean SME financing platform Validus and SCG Distribution, a Thailand company focused
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eKYC to Fuel Asia’s Digital Banking Revolution
In Southeast Asia, governments are pushing for greater adoption of digital financial services by introducing favorable regulations on digital onboarding, digital banking, and more, experts said on December 3, 2020. During a virtual panel discussion with Fintech News last week,
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