FinTech

Bank of Ayudhya’s corporate venture capital arm, Krungsi Finnovate, has joined as an investor. Plan B Media Public Company Ltd and Master Ad Public Company Ltd have also announced their commitment to the company in the Series B fundraising.

This ‘Super Angel’ round included leaders and executives from Islamic finance and fund management across various jurisdictions.

XREX will use the funding to expand its fiat currency portfolio, acquire additional licenses, and forge partnerships with more financial institutions and digital wallets.

Cryptocurrency is one of the most innovative ideas of the 21st Century. It is not only disrupting the financial system. More importantly, it has created new ecosystems not only in the finance sector but in many other markets that are now pursuing more innovations in response to the increasing use of crypto and blockchain.

The Monetary Board decided to close the window for the submission of applications from new digital banks, including converting banks, starting August​ 31, 2021. This is in line with the overall thrust of maintaining a stable and competitive environment for banks.

In an interview, Boost CEO Sheyantha Abeykoon told TechNode Global the competitive edge Axiata-RHB consortium have against other contenders and how will it position the digital bank should the consortium were granted a digital banking license.

Sea’s strong revenue growth came when many of its markets continue to see a high volume of COVID cases.

The Series A funding will be used for product development, customer acquisition, and expansion in Southeast Asia.

In the next three months of the Super Accelerator programme, Sunway iLabs will help the selected top five startup founders connect with Sunway’s global network of partners, industry experts, mentors and investors.

The ongoing pandemic has helped to accelerate the uptake of BNPL as commerce increasingly moves online and consumers look for alternatives to better manage their finances.