Bahrain’s fast track plan to become a FinTech hub
FinTech is one of the key focal points of governments in the GCC, as it is at the core of facilitating the economy. Easing payment methods and making them faster not only helps businesses receive payments and clear dues quickly, but also facilitates business projects faster. Not to forget that the international nature of economy today means cross-border payments need to become faster and easier, which is why UAE and KSA have been experimenting with blockchain to understand its impacts on international bank transfer. Just this year, FinTech has gained strong traction in the region. And Abu Dhabi has been launching a number of funds and initiatives to support the […]
FinTech company OKLink wins Deloitte “Hong Kong Rising Star”
Leap Holdings Group Limited announce that OKLink Fintech Limited, a wholly-owned subsidiary of Leap Holdings Group, was awarded the “Hong Kong Rising Star” by Deloitte in 2019 HK Tech Fast 20 and Rising Star Program on 8 November 2019. The award recognizes OKLink’s leading position in the industry segment and ample room for growth. OKLink focuses on the R&D and application of blockchain technology. The company provides blockchain services and applications, including stablecoin, blockchain, big data, and blockchain asset custodian services. With the Hong Kong government actively promoting technology and innovation, OKLink continues to seek breakthroughs in innovation with leading technology and win-win business model and has become a successful […]
Fintech-as-a-Service provider Rapyd brings together Singapore’s key payment methods into the first all-in-one “Singapore Platform”
Rapyd, a global Fintech-as-a-Service company, announced today its partnership with key players of Singapore’s payments ecosystem to provide a single “Singapore Platform” to enable businesses to go “cashless”, in line with the country’s vision of becoming a smart digital nation and a center for Fintech innovation. Rapyd’s “Singapore Platform” will bring greater convenience to local consumers and businesses, by enabling consumers and businesses to easily make payments electronically, convert cash to electronic payment methods, or receive funds instantly by enabling the following capabilities via a single technical integration: Real-time interbank payments via FAST, PayNow, and PayNow QR Leading digital wallets GrabPay, DBS PayLah!, and OCBC Pay Anyone Accept mobile payment […]
Tencent to build virtual bank after Hong Kong regulator approves license
Chinese internet giant Tencent is set to open a blockchain-based virtual bank after the Hong Kong Securities and Futures Commission (SFC) approved a new license. Speaking at the World Blockchain Summit in Wuzhen, China on Friday, Tencent blockchain chief Yige Cai said the company’s virtual bank received the SFC’s green-light. Moving forward, the company will assemble a team to support the blockchain-based banking platform, according to Chinese media site Sina Finance. “Hong Kong’s new regulations and supervision on digital assets transactions validates the importance of blockchain technology and digital assets, which is good news for the whole industry,” Cai said in his speech at the summit. The SFC has granted […]
European Fintech investment surpassed Asia
Fintech is Europe’s largest venture capital (VC) investment category, receiving 20% of all VC investment in the region between 2017 and 2019 year-to-date (YTD), surpassing enterprise software (17%), health (13%) and transportation (8%), according to the State of European Fintech 2019 report by Dealroom, in partnership with Finch Capital. In Europe, fintech investment is gaining momentum, outperforming Asia for the first time since 2015 with US$5.1 billion raised by European fintechs in H1 2019, against US$2.2 billion for Asian fintechs. European challenger banks and payments companies have raised the largest chunk, with both categories raising EUR 2.4 billion in 2019 so far. Lending and mortgage and wealthtech are two other […]
Fintech leads the way as Irish VC deals hit $185m in Q3
A global survey of venture capital financing has found that the Irish fintech (financial technology) sector led the way, as Irish companies secured more than $185 million (€166 million) in VC funding in the third quarter of the year. KPMG’s Venture Pulse survey tracked more than 4,100 VC funding deals globally between July and September, totalling more than $55.7 billion. So far this year, at least $28.7 billion worth of VC deals were in Europe, which set a quarterly record in Q3 with almost $10 billion of deals. Globally, quarterly VC funding dropped by 14 per cent from almost $65 billion. In Ireland, the funding raised was spread over 22 […]
Fintech focus for Wales at TheCityUK National Conference in Cardiff in November
TheCityUK brings a major event to the Principality Stadium, Cardiff on November 21 as Wales focuses on FinTech with a growing reputation as a global leader in the financial technology sector. TheCityUK National Conference 2019, in partnership with PwC, is an opportunity for delegates to join senior policymakers, practitioners and academics to discuss critical issues and growth opportunities for financial and professional services across the UK. The conference theme is ‘Making an Impact’, with keynote speeches focusing on how the financial and related professional services industry supports people and businesses across the UK.Event headliners include The Rt Hon the Lord Heseltine CH, Richard Theo, UK Government FinTech Envoy for Wales, […]
Alipay sets sights on digital payments outside Asia as it teams up with Russia’s Mail.ru
Alipay, one of China’s dominant digital payments providers, has teamed up with Russian internet firm Mail.ru in an e-wallet joint venture to develop digital payments in the country. The joint venture is Alipay’s first outside Asia, where it already partners with local e-wallet providers such as Hong Kong’s AlipayHK, Indonesia’s Dana and Malaysia’s Touch ‘n Go. Alipay is operated by Ant Financial, the financial affiliate of Alibaba Group, the parent company of the South China Morning Post. Mail.ru will take a 40 per cent stake in the venture, making it the largest shareholder. Apart from Alipay, other partners include Russia’s sovereign wealth fund Russian Direct Investment Fund (RDIF), mobile operator […]
