|September 17, 2019 - Sep 19, 2019|
Fixed Income & FX Leaders Summit APAC 2019
|September 23, 2019 - Sep 26, 2019|
Sibos 2019 - London
|October 14, 2019 - Oct 15, 2019|
|October 27, 2019 - Oct 30, 2019|
Money 20/20 USA
|November 11, 2019 - Nov 15, 2019|
Singapore Fintech Festival
|December 04, 2019 - Dec 06, 2019|
Money 20/20 China Hangzhou
India's fintech sector has surged over the past few years, with deal value reaching $2 billion in 2018. India now has more than 2,000 fintech startups, compared to less than 750 in 2014. Most Indian fintech startups are in the payments and lending segments, a boon for the subcontinent's under-banked population. Given the importance of fintech to financial inclusion in India, Delhi is preparing to launch a regulatory sandbox that would ensure that the industry develops stably. In late March, Reserve Bank of India (RBI) governor Shaktikanta Das said that the RBI would publish the guidelines for the creation of a fintech regulatory sandbox in the next two months.
As one of Southeast Asia's preeminent markets, Indonesia offers strong opportunities for fintechs. With a population of 265 million, it is larger than Vietnam, Thailand, Malaysia, Myanmar and Cambodia combined. In 2018, the Indonesian economy expanded 5.18%, beating economists' forecasts.
One of the great ironies about China for multinational firms is that they feel they have to be there, but the gatekeeper doesn't always let them in. This paradigm is especially evident in the financial services sector, where foreign firms control less than 2% of the market 18 years after China entered the World Trade Organization and promised to dismantle trade and investment barriers.
Thailand's Securities and Exchange Commission (SEC) has approved the kingdom's first initial coin offering portal (ICO) and is expected to issue guidelines for securities token offerings (STO) applications in the near future. ICO portals are used primarily to conduct due diligence.
In a few short years, Japan has become one of the most crypto-friendly countries in the world, pushing ahead with plans to integrate distributed ledger technology into its financial system despite rising skepticism about virtual currency's future. Even massive hacks of its crypto exchanges haven't affected Japan's determination to become a crypto nation. The Japanese government has handled the skullduggery in stride, strengthening systemic security measures rather than resorting to draconian crackdowns.
In less than a decade, Alibaba and Tencent have built the world's foremost mobile internet ecosystem in China. Their success derives from both innovative business models and unflappable determination. To be sure, they arrived at the right time - the rise of smartphones - but good timing isn't enough to prevail in a market as cutthroat as China's. Of course, Alibaba and Tencent also haven't had to contend with foreign competition. Would they have been as successful without the Great Firewall?
Singapore is an ascendant digital finance hub, in 2018 attracting $365 million in fintech investment. That investment was double the amount raised a year earlier. Despite its small size, the city-state is still the No. 5 fintech market in APAC by funds raised.
Vietnam plans to roll out a pilot peer-to-peer (P2P) lending scheme to boost financial inclusion in one of Southeast Asia's fastest growing economies. The pilot program will permit P2P lending firms to serve as intermediaries between lenders and borrowers, but they will be restricted from fundraising activity.
In Asia, digital wallets are increasingly where the money is for ride-hailing companies. Once they have a critical mass of customers using their app for taxis, the companies launch a suite of financial services people can access from the convenience of their smartphones. Didi Chuxing is going this route in China, while Singapore-based Grab and Indonesia-based Go-Jek are launching digital wallets across Southeast Asia.
Across Asia, there is a race to go cashless as financial digitalization accelerates. Financial services companies want to capture business from digital payment adoption, while regulators want to reduce costs by printing less paper money and minting fewer coins. Consumers want convenient payment options.
Singapore's Grab is rolling out a suite of digital financial services in a bid to become Southeast Asia's preeminent app. The services including micro-lending, micro-insurance and payments. Like China's ubiquitous messaging app WeChat has done, Grab wants to build an ecosystem where consumers can bank, order food and shop - not just chat and hail rides. Asean's large underbanked population makes it an attractive market for fintechs.
Virtual currency adoption looks set to accelerate in Taiwan as the island plans to establish a mechanism for security token offerings by mid-year. The move is in line with Taiwan's launch of a fintech regulatory sandbox that allows firms to experiment with novel business models but not fall afoul of existing regulations.
Myanmar is an intriguing market for fintechs. It is one of the fastest growing of all Asian economies. Annual GDP growth has exceeded 6% in recent years. The government has embraced digitalization and to a certain degree, foreign investment, a remarkable turnaround for a country that had been closed to the world for decades.
In hope of a sustained stock market rally, U.S. President Donald Trump has been pushing for a rapid conclusion to the trade war he started with China almost nine months ago. Treasury Secretary Steven Mnuchin and National Economic Council Advisor Larry Kudlow, ever mindful of investors' concerns, reportedly have The Donald's ear. Trump's patience with the hardline approach of U.S. Trade Representative Robert Lighthizer may be wearing thin, people close to the White House say.
South Korea’s Financial Services Commission (FSC) has announced it will set up an open interbank payment network this year in a bid to strengthen the country's nascent fintech industry. The FSC hopes that the move will help facilitate the rise of new digital finance powerhouses such as the payment apps Kakao Pay, Naver Pay and Toss.