FinTech

With this RMO license, HGX can now fully operate as Asia’s first member-driven private exchange to support the issuance and trading of both digital and non-digital capital market products.

The development comes at a time when more global PE firms are looking for investment opportunities in the tech sector in Southeast Asia.

The funds raised will be used to expand into new markets in Asia, invest in top talent and develop more high-quality investment products and services. Syfe has also pledged that everyone in the firm will become a shareholder, allowing all employees to benefit from future growth in the company.

Singapore-based FinTech UNObank was granted the first new digital banking license under the Digital Banking License framework of the Bangko Sentral ng Pilipinas. Manish Bhai shares insights on how digital-native banks can provide faster and more innovative services to address the needs of the underbanked and unbanked.

TechNode Global interviewed key members of the Fintech Angel Operators to seek their insights on the growing market for FinTech services in the Southeast Asia region with a particular focus on how the model of an angel investor network can accelerate growth in this space.

In a TechNode Global Q&A, Chu shared the story behind why she started YouTrip and the challenges she and her team met when they grow the company. She also shared her views on how to encourage more women to become entrepreneurs and some advice for them, based on her personal experience as a female founder.

A diverse range of parties have submitted applications for the digital bank licence, ranging from banks, industry conglomerates, technology firms, e-commerce operators, FinTech players, cooperatives and state governments.

BigPay's consortium will be joining a crowded field for digital bank licences on offer. Malaysia central bank said it would issue up to five licenses by early 2022.

The Race for the five digital banking licenses heats up further as more consortiums and companies announced their application, including ride-hailing giant Grab-Singtel consortium, which bagged a digital full-bank license in Singapore last year. These consortiums also include overseas investors and technology partners from Singapore, Japan, and China.

The funding will go towards scaling their team in Singapore, relocating their new headquarters, focus on growth in Southeast Asia and increased support for cross chain interoperable Digital ID applications.