Ready to bloom: the rise of CBDCs in Asia
We delve into how and why Asia has surged ahead in the global race for CBDC development.
The latest fintech news, resources and expert analysis in Hong Kong by the leading intelligence provider for the worldwide fintech community.
We delve into how and why Asia has surged ahead in the global race for CBDC development.
Ronnie Cheung will lead operations and governance for the private bank’s Hong Kong branch.
Cheng first joined Citi back in 1993, and has since risen through the ranks of its corporate banking division.
The job openings are within HSBC’s digital business services unit and ventures, innovation and partnerships team.
The $250m expansion builds on an earlier $250m ABS facility secured by the fintech in April 2022.
The group is migrating from Finastra’s Equation core to its cloud-based Essence solution.
The latest round saw participation from both new and existing investors, HashKey says, without divulging names.
The pilot is part of the HKMA’s three-stage approach to CBDC development.
The round saw participation from existing investors including UBS Next, EDBI and Prosus Ventures.
According to Forbes Asia, the funding round values the start-up at $1.7 billion, making it Hong Kong’s latest unicorn.
The mobile wallets include Alipay HK (Hong Kong SAR), Kakao Pay (South Korea), and Touch ‘n Go eWallet (Malaysia).
Existing investor Tencent also increased its stake to become Tyme’s third-largest stakeholder.
A total of 16 firms have been chosen from across the financial, payments and technology sectors to take part.
OKX sees “immense potential” in Hong Kong and is committed to building out the local ecosystem.
Livi Business offers SMEs and entrepreneurs access to “fast, simple and personalised” financial services.
With the partnership, the bank says it will be able to offer customers a secure connection to external apps.
The proposed framework will bring virtual assets in line with securities brokers and automated trading venues.
Iu served as chief risk officer (CRO) of ZA Bank, a role he will step down from immediately.
The start-up uses machine learning to help businesses automate accounting, payroll and tax reporting.
Together, Quantifeed and Alpima will create “a world-class technology platform”.
According to Bloomberg, the fintech firm is valued at around $2 billion.
The funding will be used to boost its global market expansion plans.
Chekk says its SaaS solutions “remove the pain and costs” from interactions between companies and customers.
Serai was on a mission “to simplify global trade” by providing supply chain solutions to brands and manufacturers.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
The firm says it limits business to Bitcoin, Ethereum and stablecoins, and serves around 500 “select clientele”.
The new software will enable consumers and small businesses to view their daily carbon footprint.
The solution will be available on all DBS Mastercard, Visa and American Express credit cards.
The deal forms part of M-DAQ’s growth strategy as it looks to expand into new international markets.
Mox has a new CIO and a new chief data, security, and innovation officer (CDSIO).
Qraft’s US CEO says investment management is “ripe for disruption” thanks to AI.
The roll-out will start in Hong Kong and Singapore, followed by the onshore market of Taiwan.
Neat provides a cross-border trade enabling platform for small businesses and start-ups.
WeLab has raised $240m to fund the acquisition – “the largest fintech funding in Indonesia in 2021”.
The buyer is CloudWing Network Technologies, a subsidiary of Hundsun Technologies.
The Singapore-based company has plans for international expansion.
The new capital injection adds to the firm’s $200m Series E funding.
The company’s platform acts an ‘operating system’ for entrepreneurs and small businesses.
Partners in Series B include Citi, GBA Homeland and Nordstar.
Netbank to integrate Chekk platforms into its white-label offerings for customers and businesses.