FinTech
The evolution of banking: From traditional services to self-banking solutions
The evolution of banking marks a radical change toward self-managed financial solutions, from conventional services, to banking as a service, and now decentralized finance. By allowing service providers to provide combined financial services, BaaS has helped to improve operational effectiveness and customer experience. Meanwhile, #DeFi has changed…
Grab-led GXBank to invest $333M in Malaysia over the next five years
Grab-led GX Bank Berhad (GXBank) said Friday that it will invest MYR 1.5 billion ($333 million) into Malaysia over the next five years includes the establishment of the GX Untuk Semua initiative, further solidifying Malaysia’s position in the digital banking landscape.
Ayala acquires additional 8 percent stake in Mynt for $394.54M
The Philippines-based conglomerate Ayala Corporation has acquired additional 8 percent stake in Globe Fintech Innovations, Inc. (Mynt), the parent company of the finance super app and digital cashless ecosystem GCash in the Philippines, for PHP 22.9 billion ($394.54 million).
WeChat Pay Malaysia to discontinue e-wallet service
Chinese payment firm WeChat Pay will discontinue its e-wallet service in Malaysia from September 1, 2024 due to business strategy adjustment.
Indonesian GoTo’s Q2 revenue up 39 percent on year to $265.58M
PT GoTo Gojek Tokopedia Tbk (GoTo), the largest digital ecosystem in Indonesia, announced Tuesday that its gross revenue increased by 39 percent year on year to Rp 4.3 trillion ($265.58 million) in the second quarter.
Singapore’s M-DAQ Global acquires Malaysian payment firm Easy Pay Transfers
M-DAQ Global Pte. Ltd., a Singapore-headquartered fintech group, announced Wednesday that it has completed the acquisition of licensed business to business (B2B) payments service provider Easy Pay Transfers Sdn. Bhd.
GCash partners PayPal to launch stablecoin in the Philippines
GCash, a finance super app based in the Philippines, has partnered global payment firm PayPal to launch stablecoin in the Philippines. PayPal’s stablecoin PayPal USD (PYUSD) is now available in the Philippine market through GCash.
GoTo launches BNPL service on Tik Tok’s ShopTokopedia
Indonesian largest digital ecosystem GoTo Group has on Monday announced that it is enhancing its partnership with TikTok by providing a “Buy Now, Pay Later” (BNPL) product, GoPay Later, on TikTok’s ShopTokopedia.
Global FinTech Institute partners ICP Hub Singapore to propel FinTech and Web3 ecosystem
The Global FinTech Institute (GFI) and ICP Hub Singapore have announced a strategic partnership aimed at advancing the FinTech and Web3 sectors.
Una Cash sees Philippines’ Buy Now, Pay Later market to contribute 6.7 percent in GMV to the digital economy in 2024
UnaCash, an in-app and in-store financing solutions provider based in the Philippines, expects the Philippines’ buy now, pay later (BNPL) market to contribute 6.7 percent in gross merchandise value (GMV) to the digital economy this 2024.
