FinTech

Maybank Investment Bank has revised up Indonesian tech platform GoTo Gojek Tokopedia FY25/26 revenue forecasts by 17 percent/ 15 percent, after the firm's first nine months revenue beat its forecast.

The company intends to list in the second half of next year, Bloomberg reported. An IPO of that size would likely make it the biggest ever in the country.

Global crypto demand is skyrocketing, with users reaching 560 million by mid-2024 — a 30 percent year-on-year increase. Crypto market capitalisation has surged nearly 90 percent, surpassing $2.3 trillion. Bitcoin hit record highs following the US presidential election, driven by expectations of crypto-friendly policies from the new Congress.

This marks the close of the second round in Partior’s Series B funding and comes on the heels of the first close led by Peak XV Partners in July 2024 with participation from J.P. Morgan, Jump Trading Group, Standard Chartered, Temasek and Valor Capital Group.

Malaysia's digital economy is poised to reach $31 billion in gross merchandise value (GMV) in 2024, an increase of 16% from 2023 according to the latest e-Conomy SEA 2024 report by Google, Temasek, and Bain & Company.

The opportunity for #B2B #Payments in #AsiaPacific is huge, and financial institutions must move swiftly to capitalize on it. The future of banking in the region will be defined by digitalization, personalization, and embedded finance. For banks across Asia, the message is clear: adapt to the changing landscape or risk falling behind.

Maybank Investment Bank said Thursday that it foresees ASEAN internet players such as Sea, Grab and GoTo to lead growth ahead of global peers.

Singapore-based digital bank GXS Group announced Wednesday that it is on track to launch its business banking solutions in the first quarter of 2025, after launching its retail banking services successfully.

Analysts of UnaFinancial forecast that by 2027, the Buy Now, Pay Later (BNPL) market in Southeast Asia will reach $53.2 billion across six key countries, with Indonesia leading at $16.8 billion and making up 32 percent of the market. The Philippines and Malaysia will experience the fastest growth between 2024 and 2027, with the Philippines projected to grow…

The new facility is anchored by HSBC through its ASEAN Growth Fund and is also supported by DBS Bank Ltd, Sumitomo Mitsui Banking Corporation (SMBC) Singapore branch and Brunei’s Baiduri Bank.