FinTech

The Southeast Asia (SEA) finTech sector secured funding worth $530 million in the first quarter of 2024, a 13 percent lower than the $607 million raised in the corresponding quarter last year, Tracxn said in a a report on Tuesday.

9Basil Group, a Thailand-based alternative investments firm, has on Thursday announced its acquisition of AlteriQ Global (AlteriQ), a boutique Asia-Pacific private credit platform based in Singapore.

Metalpha Technology Holding Limited, a Hong Kong-based digital asset-focused wealth management company, together with global chips provider Algos Electronics Corp., have established NOWLIT FinTech Solutions Corp.

Chinese fintech firm Ant Group, along with 11 overseas payment partners of Alipay+ and major international card organizations, have launched in Beijing a nation-wide Program to build International Consumer Friendly Zones across major Chinese tourist and commercial cities, with the support of relevant authorities and local governments.

Japanese Fintech leader Smartpay was oversubscribed in raising $7 million in pre series A round led by Japanese technology investor SMBC Venture Capital.

TerraPay, a global money movement company based in the United Kingdom, has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS).

Brunei Darussalam Central Bank (BDCB) and Bank of the Lao PDR (BOL) have officially joined the Regional Payment Connectivity (RPC) after previously expressing their interest in joining the initiative, the Monetary Authority of Singapore (MAS) said Wednesday.

The Monetary Authority of Singapore (MAS) has on Tuesday introduced amendments to the Payment Services Act (PS Act) and its subsidiary legislation to expand the scope of payment services regulated by MAS, and to impose user protection and financial stability-related requirements on digital payment token (DPT) service providers.

SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, and NEXT176, the venture building and investment arm of Old Mutual, a Pan-African financial services group, have joined forces to launch an inclusive financial wellness platform.

Salmon Group, a financial technology group, dedicated to improving access to credit, savings, and investments for over 500 million underserved customers in Southeast Asia, has partnered with with the Philippines-based payment firm AllBank (A Thrift Bank), Inc, to introduce an innovative QR Ph-enabled payment solution