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

The post Japan to Enforce Tougher Crypto Anti-Money Laundering Laws Next Month appeared first on FinTech Ranking.

According to the warning letter, the FSA stated that the listed exchanges had breached Japan’s fund settlement regulations by conducting crypto asset exchange business without proper registration.

Read more: Cointelegraph

The post Japan FSA flags Bybit, others for operating without registration appeared first on FinTech Ranking.

“We plan to develop a system for experiments,” Bank of Japan (BoJ) Executive Director Shinichi Uchida said in remarks during the fifth meeting of the BoJ Liaison and Coordination Committee on Central Bank Digital Currency.

“The aim of the pilot program is twofold: first, to test the technical feasibility … and second, to utilize the skills and insights of private businesses in terms of technology and operation for designing a CBDC ecosystem in the possible event of social implementation,” Uchida said.

Read more: CoinDesk

The post Japan Will Launch Pilot for Issuing Digital Yen in April appeared first on FinTech Ranking.

Japan’s regulator has “begun to urge” counterparts in the US, Europe and elsewhere to subject cryptocurrency exchanges to supervision that’s similar to those faced by banks and brokerages, according to Yanase. The country has been making its voice heard through the Financial Stability Board, an international body that’s working on global regulation of crypto asset activities, he said. 

Read more: Bloomberg

Photo by Worldspectrum from Pexels

The post Japan Pushes Global Counterparts to Regulate Crypto Like Banks appeared first on FinTech Ranking.

SmartBank wants to enable anyone to manage finance, “from everyday spending to planning for the future” by offering its digital finance management service B/43, which is a Visa prepaid card and personal finance management app.

Read more: TechCrunch

The post Japan’s SmartBank raises $20M Series A for its prepaid card and finance app appeared first on FinTech Ranking.

Called Line NFT, the marketplace is affiliated with 17 content firms and will sell more than 100 types of non-fungible tokens. Those who buy tokens on Line NFT can exchange them with friends who are also registered Line users.

Read more: Tech in Asia

The post Line to launch NFT marketplace in Japan next month appeared first on FinTech Ranking.

Paidy’s payment services allow Japanese shoppers to make purchases online, and then pay for them each month in a consolidated bill at a convenience store or via bank transfer. The company uses proprietary technology to score creditworthiness, underwrite transactions and guarantee payment to merchants. Paidy helps consumers feel comfortable and safe while shopping online and drives increased conversion rates, average order values and repeat purchases for merchants.

Read more: PRNewswire

The post PayPal acquires Japan’s Paidy for $2.7B appeared first on FinTech Ranking.

Line Corp.’s Indonesian banking platform is the result of a partnership the company struck in 2018 with PT Bank KEB Hana Indonesia, a subsidiary of South Korea’s Hana ZBank. Line Corp. agreed to acquire 20% of PT Bank KEB Hana Indonesia, making it the bank’s second-largest shareholder, and said it would work on online banking services, including deposit accounts, microcredit products, and remittance and payment services.

Read more: TechCrunch

The post Line launches digital banking platform in Indonesia appeared first on FinTech Ranking.

Line BK’s performance in terms of transaction volume, loan applications, and the number of new users “exceeded expectations” during its first few months, the fintech firm said in a statement. It has also recorded around 50,000 new saving accounts a day and hit over US$700 million in total amount of financial transactions.

Read more: Tech in Asia

The post Line BK pulls in 2 million users in 4 months appeared first on FinTech Ranking.

Read more: AltFi

TechCrunch understands that Chris Sing, Revolut’s head of regulatory compliance is leaving to take up the position as Barclays’s new chief of staff to the group chief compliance officer. Meanwhile, Revolut is on the verge of announcing two senior hires from Amazon. They are Steven Harman, who joins as the neobank’s new group COO; and Jim McDougall, who becomes Revolut’s new chief people officer. Harman was most recently Amazon’s VP of continental europe customer fulfillment, and McDougall held the position of director or HR services transformation.

Read more: TechCrunch

TechCrunch reports that Revolut is expanding to Japan. After testing the service with 10,000 users, anybody can now sign up and open an account. The company originally obtained its authorization to operate from Japan’s Finance Service Agency in 2018. The company has already launched premium plans in Japan, but has now expanded the offering in the country to include its popular free accounts. 

Read more: TechCrunch

The post Revolut: launch in Japan, 500k SME customer milestone and new hires appeared first on FinTech Ranking.