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The fintech unicorns in Asia are moving to reshape the very fabric of how people and businesses interact with money. From digital payments to decentralised finance (DeFi), these companies are solving real-world challenges like financial inclusion and cross-border transactions, while setting new global standards for innovation.
India’s initiatives are also closely tied to its exploration of central bank digitalcurrencies (CBDCs). The central bank views digitalcurrencies as a cost-effective tool for trade settlements, remittances, and other financial transactions, though comprehensive testing is necessary before widespread implementation.
Georgian fintech Keepz has collaborated with the Georgian Revenue Service to make digitalcurrencies a payment option for taxes. Keepz was the first fintech in Georgia to acquire an open banking licence and integrate cryptocurrency payments into tax collection.
In this exclusive Fintech Review interview, Adam Swartzbaugh, CEO of Almond FinTech , discusses transformative cross-border payment technology. How does Almond FinTech ’s proprietary technology enhance the speed and transparency of cross-border transactions for financial institutions? Let’s dive in.
But the race is still on for central banks to develop their own digital versions of fiat to take their place alongside bills and coins. To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digitalcurrencies (CBDCs). million) of digitalcurrency to 50,000 people chosen by lottery.
This month, The Fintech Times is focusing on the world of digital assets. The idea that digital assets are exclusively some form of currency has been slowly dispelled, as new use cases emerge and are rapidly adopted across the globe. But digitalcurrencies are far from irrelevant.
Fintech is playing a pivotal role in the economic growth of Armenia, Azerbaijan, and Georgia. With advancements in payment systems, blockchain exploration, and digitalcurrencies, these nations are harnessing technology to transform their financial landscapes and drive future development.
Payments are arguably the face of fintech. As of December 2023, 130 countries, representing 98 per cent of global GDP, were exploring central bank digitalcurrencies (CBDCs) according to the Atlantic Council ‘s CBDC tracker. ” The post Will Central Bank DigitalCurrencies (CBDCs) Impact Cross-Border Payments in 2024?
dtcpay is integrating its digital payment capabilities into Visa ’s global network, giving access to over 130 million merchants across more than 200 countries and territories. This collaboration aims to bridge traditional payments with digitalcurrencies, enabling merchants to accept transactions from a growing segment of UHNW customers.
Retailers will also benefit from same-day settlement in local currencies like EUR, GBP, USD, and CHF, ensuring a smooth, risk-free integration. Lunu Pay’s cutting-edge technology makes crypto payments accessible to retailers by automatically converting digitalcurrencies into euros or other local currencies at the point of payment.
The ninth edition of the Singapore Fintech Festival (SFF) wrapped up on 8th November, concluding a dynamic week-long of celebration of fintech that brought together tens of thousands of participants from around the world. The year’s conference featured an impressive lineup of over 900 speakers across more than 400 sessions.
Central Bank DigitalCurrencies (CBDCs) have received attention in recent years as central banks worldwide explore the potential to evolve the way we conduct financial transactions. With the rise of digital payments, cryptocurrencies, and fintech innovations, CBDCs represent a new frontier in the evolution of money.
Global travel payment orchestration platform FinMont has partnered with Triple-A to integrate digitalcurrency payments into its ecosystem. Triple-A’s digital payment solutions allow businesses to pay and get paid in digitalcurrencies, anytime, anywhere, without the need to hold or convert digitalcurrencies.
Fintech is transforming financial services across Asia at an unprecedented pace. With rapid digital adoption, evolving regulations, and AI-driven innovations, the region is at the forefront of global fintech growth. The Asia-Pacific fintech market is projected to reach USD $171.32 billion in 2025 and surge to USD $359.83
Cambodia is implementing new initiatives to expand payment options for tourists by cementing blockchain-based central bank digitalcurrency (CBDC) partnerships. The National Bank of Cambodia (NBC) has been instrumental in facilitating these digitalcurrency evolutions.
Tazapay has achieved significant milestones these past years, securing a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) in 2023, being included in the 2023 CB Insights’ Fintech 100 list , and securing a US$16.9 million Series A funding round led by Sequoia Capital Southeast Asia.
The project’s system architecture integrates both new digital asset frameworks and traditional financial networks, such as SWIFT, allowing it to function within various financial infrastructures. ” The post BIS Completes Project Mandala, Automating Cross-Border Transaction Compliance appeared first on Fintech Singapore.
Securities and Exchange Commission as indicative of the growing acceptance of digital assets globally. Thaksin suggested that Thailands Securities and Exchange Commission (SEC) adopt regulatory frameworks to support the trade of stablecoins, digitalcurrencies backed by assets.
Project mBridge is a major cross-border payments initiative designed to leverage wholesale central bank digitalcurrencies (CBDCs). The post BIS Exits ‘Project mBridge’ Citing Maturity Amid BRICS Speculation appeared first on Fintech Singapore. That has happened already with other projects,” Carstens remarked.
The network aims to enable faster, lower-cost international money transfers by utilizing stablecoins such as USDC, EURC, and other regulated digitalcurrencies for real-time settlement between participants like banks, payment providers, virtual asset service providers, and digital wallets.
Senegal is one of many countries across the Middle East and Africa trying to diversify its economy and future-proof itself by hosting financial inclusion by employing fintech solutions. Despite this digital advancement, only seven per cent of the population utilises traditional financial services.
For digital assets to be adopted globally, they must seamlessly integrate with both existing payment systems and digitalcurrencies,” said Jonathan Ehrenfeld, Head of Strategy, Swift.
The AI, fintech and innovation workforce is also growing, standing at 4,243 – representing a 43 per cent jump from the previous year. DIFC capitalises on AI success in 2024 Emerging technologies and the convergence of AI and fintech are contributing to the evolution of financial services and other future-focused industries.
And there's still no sign of a central bank digitalcurrency, leaving the U.S. Several government agencies have made deeper moves into crypto oversight, leaving a trail of angry executives and unresolved political questions. at risk of falling behind other countries in the race to support faster payment processing.
There’s just two days to go before this year’s flagship conference at Fintech Week London with stellar speakers set to share their insights, including London’s deputy mayor for business Howard Dawber and MP Lord Chris Holmes.
The fintech landscape in the Asia Pacific (APAC) region has been evolving at a remarkable pace, with start-ups and established companies redefining how financial services are delivered and consumed. Today, we will explore five top fintech trends in the APAC region for 2024, supported by statistics and insightful information.
I’ve received dozens of 2024 fintech trends prediction pitches in my email inbox over the past month. My prompt read, “What are your predictions for the top five newest and hottest trends in fintech for 2024?” However, personalization is not the only AI-powered aspect of banking and fintech that will surge in 2024.
In recent years, digitalcurrencies have been all the rave. However, the idea that digital assets are exclusively some form of currency is slowly falling by the wayside as different use cases are emerging and being rapidly adopted. Evaluate what the future of blockchain looks like in the next five years.
Additional investors include White Star Capital, Fabric Ventures, DigitalCurrency Group (DCG), The Venture Dept., The company is also in talks with regional fintechs and global merchant platforms to integrate real-time cross-border settlement into their products. and several angel investors.
The partnership with IDEMIA Secure Transactions brings its extensive connections and expertise in payment and connectivity solutions, with 1,900 financial institutions and FinTechs clients worldwide, together with Serenity’s knowledge in blockchain technology.
Digitalcurrencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digitalcurrencies, some of which could launch in five to seven years.
As the tech-driven economic landscape continues to evolve at a remarkable pace, Singapore remains at the forefront of this transformation, particularly in the realm of fintech. This booming scene is driven by supportive government policies, a robust tech-savvy population, and an increasing number of fintech startups.
In H1 2024, fintech startups in Asia raised a total of US$2.4 Despite current funding challenges, fintech experts and industry observers are still optimistic about the region’s long-term growth prospects, driven by factors such as a young population, a large consumer base, and supportive government initiatives.
Looking to bridge the world of fiat and digitalcurrencies, Fipto , a blockchain-based payment infrastructure, is looking to make it easier for firms to integrate stablecoins and optimise existing global payment flows using blockchain.
The global fintech landscape is witnessing a staggering growth, fueled by booming consumer adoption, supportive regulatory efforts and technological advancements. Between 2015 and 2019, consumer adoption of digital money transfer and payment services grew from a mere 18% to an impressive 75%, findings from a Statista survey found.
Hong Kong and Singapore are highlighted by Sumsub as two of the worlds top 10 crypto-friendly jurisdictions, recognized for their robust regulatory frameworks, advanced infrastructure, and commitment to fostering fintech innovation. million out of 560 million crypto owners worldwide. million out of 560 million crypto owners worldwide.
Singapore embraces digitalcurrencies, combining cutting-edge innovation with solid regulations to ensure a safe trading environment. Cryptocurrency is a digitalcurrency form that uses cryptographic technology to secure transactions and control the creation of new units. Youre in the right place. What is Cryptocurrency?
Over the past decade, Singapore has emerged as a global powerhouse in fintech innovation, not just in Southeast Asia but across the broader Asian region. This rapid growth has solidified Singapores position as a leader in the global fintech ecosystem while driving significant investments in other forms of financial tech.
Despite facing funding challenges and navigating complex market conditions, the fintech sector in India continues to grow and evolve, with several emerging fintech trends in India poised to shape the future of the industry.
Southeast Asia is on the brink of a rapid expansion in open banking, with financial institutions leveraging open banking to enhance customer experiences, and fintech companies utilizing application programming interfaces (APIs) to revolutionising payments, lending, and more. appeared first on Fintech Singapore.
In January 2025, the Swiss Financial Innovation Desk (FIND) announced the release of Pathway 2035 for Financial Innovation Your Navigator , a guide designed to steer financial and fintech leaders toward a resilient future. Panel and Organising Committee of the Event ReDesigning Financial Innovation.
Across the region, fintech has risen to prominence, becoming one of CCA’s investors preferred investment targets. Of that amount, about 40% was raised by fintech startups, making the segment the favorite of investors in the country. Pave Bank, a new digital bank , raised US$5.2 Uzbek startups secured a total of US$6.3
As the popularity of digitalcurrencies grows in the region, firms are looking to bridge the worlds of decentralised finance with traditional finance to make offerings more accessible to all. Together, CPICIMHK and AMINA Group are providing a bridge between the established financial sector and the emerging world of digital assets.
Central bank digitalcurrencies (CBDCs) have a lot of potential to uproot the cross-border payments market. RAKBANK has successfully exchanged a remittance using China’s digital Yuan (eCNY) in exchange for the Digital Dirham, the UAE’s CBDC.
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