Archive
South Korea Eyeing to Grant More Virtual Banking Licenses
South Korea’s Financial Services Commission (FSC), the government’s top financial regulator, will resume a new round of procedures for granting preliminary approval for digital banks, the FSC said on July 17. Earlier this year, the FSC said it intended to
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Line and Rakuten Are Among The First to Receive Taiwan’s Virtual Banking Licenses
Taiwan’s Financial Supervisory Commission is said to have issued it virtual banking licences to three consortiums, according to a report by Reuters. The licenses were granted to Line Financial Taiwan, Next Commercial Banking (led by local telco Chunghwa Telecom) and
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Mobile Money Transfers to Exceed 200 Billion Transactions in 2024
New data from Juniper Research has found that the volume of domestic money transfers via mobiles will exceed 203 billion in 2024, up from 130 billion in 2019. Domestic P2P payments will drive this growth; accounting for 80% of all domestic
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Korea’s Regulator Approves Another 5 Companies to Be Part of its Fintech Sandbox
The Financial Services Commission of South Korea has approved an additional 5 companies to be part of its fintech sandbox. At the time of publishing the regulator has approved 42 services to be tested in the sandbox, 9 of which
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Once Notorious for Copying, China’s Tech Giants Are Now Being Copied by the West
As China emerges as a tech powerhouse, successful concepts from Chinese tech giants are being studied and replicated by Asian and Western counterparts, according to a new report by South China Morning and its tech-focused news site Abacus. In the
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Eddie Yue Appointed as New HKMA CEO; Executive Director Resigns Citing Personal Reasons
Eddie Yue, who currently serves as the Deputy CEO of HKMA will succeed Norman Chan as the new CEO in October. The 54 year old incoming CEO Eddie Yue, started his career in civil service in 1986 and joined HKMA
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When It Comes to Payments, Its Risky to Use Your Face
In China, platforms and services like Alibaba’s Alipay and Tencent’s WeChat Pay have brought facial recognition payments to online and brick-and-mortar retail stores. But as biometrics and facial recognition technologies become mainstream, experts and regulators are concerned about the privacy
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Shake-Up in ZhongAn’s Senior Leadership Team
ZhongAn, a leading insurtech company in China, today announced new senior leadership appointments. Former General Manager and Joint CEO Mr. Jin Chen has resigned his positions, whilst continuing his role as an Executive Director, Chairman of the Investment Strategy Committee
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Tencent & ICBC’s Virtual Bank Renamed to Fusion Bank
Infinium Limited, the virtual bank jointly owned by Tencent, Hong Kong Exchanges and Clearing, Hillhouse Capital and Perfect Ridge today announced that it has been renamed Fusion Bank. The Chinese name of the virtual bank, “Fu Rong”, carries an implied
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5 Recent Stories Shaping Korea’s Blockchain Ecosystem
South Korea’s attempts to put itself on the map in the world of blockchain seem to be bearing fruit more and more lately. Increasingly, South Korean banks and tech firms are ramping up blockchain adoption in a big way with
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