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December 04, 2019 - Dec 06, 2019
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Thailand approves securitized tokens

Written by Kapronasia || March 08 2019

2019 could be the year of the securitized token. In February, Thailand became the latest country to amend regulations to pave the way for tokenized stocks, bonds and mutual funds on the blockchain. The tokenized platform is likely to be implemented this year, according to Tipsuda Thavaramara, deputy secretary-general of Thailand's Securities Exchange Commission.

Hong Kong virtual banks now a reality

Written by Matt Fulco || March 04 2019

Hong Kong authorities will reportedly soon issue digital banking licenses to six different companies in a bid to shake up the former British crown colony's financial sector. The lucky six include Chinese internet banking heavyweights Ant Financial and Tenpay, Zhongan Insurance (in a tie-up with Citic), Hong Kong Telecom, smartphone maker Xiaomi, and England's Standard Chartered Bank.

Can Japan's Line make fintech pay like WeChat has?

Written by Matt Fulco || March 05 2019

It wasn't so long ago that China's tech firms were panned as second-rate copycats. The best example might be Baidu, the search giant that is often less effective than Google in Chinese-language searches.

Tencent's WeChat messaging app changed the equation, establishing a mobile-internet ecosystem that is the envy of its global competitors. WeChat has over 1 billion monthly users (mostly in mainland China) and is the No. 5 most used app globally. Its payment platform has expanded to 25 countries. Thanks in part to WeChat business Tencent had a strong third quarter in 2018. Revenue reached $11.7 billion, up 24% over a year earlier, while profits rose 20% year-on-year to $3.4 billion.

Trump signals optimism for grand trade war finale

Written by Matt Fulco || February 28 2019

U.S. President Donald Trump is at the core of the Sino-U.S. trade war, just like he was the company boss and host of the reality-TV series The Apprentice. Trump fired many a contestant on the show. His White House staff has seen its fair share of defections too. The trade war with China has the air of reality TV, like much of The Donald's presidency, with even more twists, turns and quips. Trump became famous on The Apprentice for telling contestants, "You're fired!" In the trade war (show), his one-liners are even better: "Trade wars are good and easy to win" and "I am a Tariff Man."

Banking digitalization doesn't come easy in the Philippines

Written by Kapronasia || February 27 2019

The Philippines is gradually boosting financial inclusion as it digitalizes its banking sector. In early February, Manila-based financial inclusion firm Oradian announced it would partner with Cantilan Bank to provide digital banking services to the nation's most remote corners. In a press release, the companies said that Cantilan Bank is the Philippines' first regulated financial institution to leverage cloud-based technology.

Taiwan's fintech regulatory sandbox accepts first startup

Written by Matt Fulco || February 26 2019

Taiwan's regulatory sandbox has approved its first startup, Hong Kong-based financial settlement network EMQ. In Taiwan, EMQ will focus on remittance services for Indonesian, Vietnamese and Filipino migrant workers - a large and growing market. In 2018, migrant workers in Taiwan sent more than US$3 billion home, according to Taiwan's central bank.

Mastercard still thinks it pays to be in China

Written by Matt Fulco || February 25 2019

If your competitors are there, do you need to be there? Mastercard thinks so. Along with Visa and American Express (AmEx), it is trying to gain a foothold in China following Beijing's announcement in 2017 that U.S. credit-card companies could apply for licenses. In late 2018, Beijing approved the first such bank card transaction clearing license when it signed off on a joint venture between AmEx and Chinese fintech firm Lianlian.

Ant Financial acquires WorldFirst for $700 million

Written by Kapronasia || February 21 2019

If at first you don't succeed in buying a money-transfer company, try again. Just make sure you go shopping in a friendly jurisdiction. That strategy paid off for the Alibaba affiliate Ant Financial as it acquired the UK's WorldFirst for $700 million in mid February.

Cambodia offers new opportunities to fintechs

Written by Matt Fulco || February 19 2019

Within Asean, Cambodia is a relative latecomer to fintech.  Its neighbors Vietnam, Thailand and Singapore are all well ahead in terms of digital finance adoption. But with the Cambodian government now supporting fintech through the National Bank of Cambodia, the country could be poised for a transformation.

Japan aims to become crypto island nation

Written by Kapronasia || February 18 2019

Despite its embrace of advanced technology, Japan is a country that likes cash, settling 80% of transactions with paper bills and metal coins.  It is not uncommon to find restaurants and bars in the capital city of Tokyo - the world's largest metropolitan area - that do not accept any other form of payment. If the shop is small and family owned, don't expect to pay with a credit card.

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