Fintech

News

Companies backed by Chinese tech giants are granted virtual banking licenses in Hong Kong

The Hong Kong Monetary Authority has so far issued 8 virtual banking licenses. Ant Financial, Tencent, Xiaomi, and Ping An each have one.

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The platform hopes that one-fifth of the country’s population will be on board within two years.
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Alipay’s mutual aid platform Xiang Hu Bao now covers senior citizens in China
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Alami is the third Sharia-compliant fintech platform registered with the financial services authority
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Islamic finance startup Alami secured funding from Singapore’s Tryb Group
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Earlier this year, the payment platform was in a row with Huobi, a cryptocurrency exchange that exited China in 2017.
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Cryptocurrencies have been banned in WeChat Pay’s new service contract
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The app has been available for download for about two months but isn’t fully functional yet
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Indonesian state-owned mobile payment service LinkAja postpones official launch for third time
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GGV Capital’s portfolio includes notable companies like Alibaba, Airbnb, and Slack.
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Singaporean payments startup Thunes rakes in USD 10 million in a GGV-led Series A round
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The total transaction value of digital payment platforms in Indonesia reached USD 3.29 billion.
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Total loan disbursement by online lenders in Indonesia reached USD 1.58 billion
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This week’s highlighted companies secured seed funding from across Southeast Asia.
Insights
Planting seeds: Early Stage
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Users can now make mutual funds investments using Go-Pay credit.
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Go-Pay aims to simplify mutual funds investments in Indonesia through a partnership with Bibit
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