InspirAsia – FinTech Ranking https://fintechranking.com All You Should Know About Fintech Mon, 29 May 2023 02:32:48 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.15 https://fintechranking.com/wp-content/uploads/2020/03/ftr_favicon2.ico InspirAsia – FinTech Ranking https://fintechranking.com 32 32 96937361 Binance joint venture granted licenses in Thailand to open regulated exchange https://fintechranking.com/2023/05/26/binance-joint-venture-granted-licenses-in-thailand-to-open-regulated-exchange/?utm_source=rss&utm_medium=rss&utm_campaign=binance-joint-venture-granted-licenses-in-thailand-to-open-regulated-exchange Sat, 27 May 2023 02:27:00 +0000 http://fintechranking.com/?p=27100 Gulf Binance, a joint venture between Binance and Gulf Innova, has obtained licenses from Thailand’s

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]]> Gulf Binance, a joint venture between Binance and Gulf Innova, has obtained licenses from Thailand’s Ministry of Finance to become a digital asset operator regulated by the country’s SEC.

The partnership aims to launch a digital asset exchange and broker in Thailand by Q4 2023.

“Local users can expect access to a trusted and regulated service that prioritizes user security alongside compliance with local regulations,” said Richard Teng, head of Asia, Europe, and MENA at Binance, in a statement.

Read more: The Block

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]]> 27100 Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month https://fintechranking.com/2023/05/24/japan-to-enforce-tougher-crypto-anti-money-laundering-laws-next-month/?utm_source=rss&utm_medium=rss&utm_campaign=japan-to-enforce-tougher-crypto-anti-money-laundering-laws-next-month Thu, 25 May 2023 02:30:00 +0000 http://fintechranking.com/?p=27104 Japan is set to implement stricter anti-money laundering measures, including the so-called “travel rule” of

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]]> Japan is set to implement stricter anti-money laundering measures, including the so-called “travel rule” of the Financial Action Task Force (FATF) from June 1, according to local news outlet Kyodo News.

The decision was made by Japan’s cabinet on Tuesday after the nation’s anti-money laundering steps were deemed insufficient by global financial crimes watchdog FATF, the report said.

Read more: CoinDesk

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]]> 27104 Huobi Global ordered to stop operations in Malaysia by the Securities Commission https://fintechranking.com/2023/05/22/huobi-global-ordered-to-stop-operations-in-malaysia-by-the-securities-commission/?utm_source=rss&utm_medium=rss&utm_campaign=huobi-global-ordered-to-stop-operations-in-malaysia-by-the-securities-commission Mon, 22 May 2023 23:27:00 +0000 http://fintechranking.com/?p=27077 The Securities Commission (SC) of Malaysia ordered Huobi Global Limited to wind down operations in

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]]> The Securities Commission (SC) of Malaysia ordered Huobi Global Limited to wind down operations in the country as it had been operating its crypto exchange without registration. The SC took action against both Huobi and its CEO Leon Li for operating illegally in Malaysia.

“This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests,” the regulator said Monday. It added that operating a digital asset exchange without being registered is an offense under section 7(1) of the Capital Markets and Services Act 2007.

Read more: The Block

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]]> 27077 Singaporean family office to set up digital bank in Bahrain https://fintechranking.com/2023/05/18/singaporean-family-office-to-set-up-digital-bank-in-bahrain/?utm_source=rss&utm_medium=rss&utm_campaign=singaporean-family-office-to-set-up-digital-bank-in-bahrain Fri, 19 May 2023 02:38:00 +0000 http://fintechranking.com/?p=27087 The Whampoa Group, a family office based in Singapore, will open a digital bank in

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]]> The Whampoa Group, a family office based in Singapore, will open a digital bank in Bahrain, the kingdom’s Economic Development Board said on May 18. The Group expects to open the bank by the end of the year and is aiming for a global client base.

The bank will offer digital asset trading, custody and management among digital banking services. According to Bloomberg, the Central Bank of Bahrain has granted the bank “in principle approval” pending fulfillment of all requirements.

Read more: Cointelegraph

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]]> 27087 Revolut launches business offering in Australia, seeks banking license https://fintechranking.com/2023/05/18/revolut-launches-business-offering-in-australia-seeks-banking-license/?utm_source=rss&utm_medium=rss&utm_campaign=revolut-launches-business-offering-in-australia-seeks-banking-license Fri, 19 May 2023 00:15:00 +0000 http://fintechranking.com/?p=27070 Crypto-friendly fintech firm Revolut has launched international payments-focused business accounts for clients in Australia, as

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]]> Crypto-friendly fintech firm Revolut has launched international payments-focused business accounts for clients in Australia, as it reportedly works to secure a banking license down under.

The London-based firm offers a range of fiat payment services for clients in Europe and Australia. It also offers crypto services, including the buying and selling of a number of crypto assets, including Bitcoin, XRP and Ether. In certain regions, it also provides access to crypto-staking.

Read more: Cointelegraph

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]]> 27070 Hong Kong Launches CBDC Trials With 16 Firms https://fintechranking.com/2023/05/18/hong-kong-launches-cbdc-trials-with-16-firms/?utm_source=rss&utm_medium=rss&utm_campaign=hong-kong-launches-cbdc-trials-with-16-firms Thu, 18 May 2023 22:39:00 +0000 http://fintechranking.com/?p=27040 The Hong Kong Monetary Authority (HKMA) today (18 May) announced the commencement of the e-HKD

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]]> The Hong Kong Monetary Authority (HKMA) today (18 May) announced the commencement of the e-HKD Pilot Programme. A total of 16 firms from the financial, payment and technology sectors have been selected to participate in the first round of pilots for 2023. The pilots will take deep dives into potential use cases in six categories, including full-fledged payments, programmable payments, offline payments, tokenised deposits, settlement of Web3 transactions and settlement of tokenised assets.

The e-HKD Pilot Programme is a key component of Rail 2 under the HKMA’s three-rail approach in paving the way for the possible implementation of a retail central bank digital currency (CBDC), i.e. e-HKD, in the future. Under the Pilot Programme, the HKMA will conduct a series of pilots in close collaboration with various stakeholders to examine the use cases, as well as implementation and design issues relating to e-HKD. Through this iterative process, the outcomes and insights gained from each pilot would help enrich the HKMA’s perspective and refine the HKMA’s approach to the possible implementation of e-HKD. The HKMA is not yet at a point where a firm decision can be made to introduce e-HKD.

Read more: HKMA

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]]> 27040 Samsung to research South Korea’s CBDC for offline payments https://fintechranking.com/2023/05/15/samsung-to-research-south-koreas-cbdc-for-offline-payments/?utm_source=rss&utm_medium=rss&utm_campaign=samsung-to-research-south-koreas-cbdc-for-offline-payments Mon, 15 May 2023 23:14:00 +0000 http://fintechranking.com/?p=27026 Tech giant Samsung Electronics has reportedly partnered with South Korea’s central bank to conduct research

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]]> Tech giant Samsung Electronics has reportedly partnered with South Korea’s central bank to conduct research on central bank digital currency (CBDC) for offline payments.

On May 15, the Bank of Korea (BOK) and Samsung signed a memorandum of understanding (MOU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of the CBDC issued by the central bank.

Read more: Cointelegraph

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]]> 27026 WhatsApp and Stripe help Singapore businesses accept payments directly in chats https://fintechranking.com/2023/05/08/whatsapp-and-stripe-help-singapore-businesses-accept-payments-directly-in-chats/?utm_source=rss&utm_medium=rss&utm_campaign=whatsapp-and-stripe-help-singapore-businesses-accept-payments-directly-in-chats Tue, 09 May 2023 02:03:00 +0000 http://fintechranking.com/?p=26991 Stripe, a financial infrastructure platform for businesses, today announced a partnership with WhatsApp that allows

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]]> Stripe, a financial infrastructure platform for businesses, today announced a partnership with WhatsApp that allows Singapore businesses to accept payments directly in WhatsApp chats. The new feature is built on Stripe Connect and Stripe Checkout, and enables Singapore customers and businesses to buy and sell directly in WhatsApp without having to go to a website, open another app, or pay in person. Supported payment methods include credit and debit cards, and PayNow, a real-time payment system popular in Singapore.

“Starting today, people in Singapore can pay their local merchants on WhatsApp in just a few taps. This seamless and secure experience will transform the way people and businesses in Singapore connect on WhatsApp,” said Stephane Kasriel, head of fintech at Meta.

Read more: Stripe

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]]> 26991 Hong Kong regulator requires banks to open accounts for crypto firms https://fintechranking.com/2023/04/28/hong-kong-regulator-requires-banks-to-open-accounts-for-crypto-firms/?utm_source=rss&utm_medium=rss&utm_campaign=hong-kong-regulator-requires-banks-to-open-accounts-for-crypto-firms Fri, 28 Apr 2023 19:40:00 +0000 http://fintechranking.com/?p=26945 The Hong Kong Monetary Authority (HKMA), the region’s central banking institution and regulator, has called

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]]> The Hong Kong Monetary Authority (HKMA), the region’s central banking institution and regulator, has called on banks to provide services to cryptocurrency firms.

On April 27, the HKMA issued a circular related to the access of corporate customers to banking services. In the document, the regulator has required authorized institutions, referred to as “AIs,” to adopt a risk-based approach in Anti-Money Laundering efforts.

The HKMA also urged the institutions in Hong Kong to pay attention to market developments and take a forward-looking approach to new sectors like the crypto market. 

Read more: Cointelegraph

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]]> 26945 Singapore, China collaborate on green finance https://fintechranking.com/2023/04/24/singapore-china-collaborate-on-green-finance/?utm_source=rss&utm_medium=rss&utm_campaign=singapore-china-collaborate-on-green-finance Mon, 24 Apr 2023 23:55:00 +0000 http://fintechranking.com/?p=26862 The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) announced the China-Singapore Green

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]]> The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) announced the China-Singapore Green Finance Taskforce (GFTF). The capital needed to transition to a low carbon world is significant, and governments are looking for private sector participation through green finance. With Singapore as a major financial hub in Asia, together they want to improve financing flows between Singapore, China and the region.

The first three work priorities of the initiative include common taxonomies, products and technology. On the technology front, Singapore’s Metaverse Green Exchange and Beijing Green Exchange will pilot digital green bonds and carbon credits. 

Read more: Ledger Insights

Image by eko pramono from Pixabay 

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