Hong Kong hires US blockchain firm ConsenSys for central bank digital currency project

5 hours ago.
The Hong Kong Monetary Authority has hired U.S. blockchain technology company ConsenSys to study the use of a central bank digital currency for cross-border payments.

Ant Group partners with banks to roll out blockchain-based cross-border trade platform

5 hours ago.
Ant Group on Friday unveiled a new cross-border trade finance platform powered by its Blockchain-based unit AntChain in partnership with major global banks as the Chinese fintech readies for its blockbuster initial public offering.

Aviva in talks to sell off Italy business in pieces: Reuters

7 hours ago.
Aviva is planning a “piecemeal sale” of its Italian operations, Reuters reported Friday, news that comes as the British insurer is looking to focus its business on the U.K., Ireland and Canada.

Singapore’s UOB launches partnership network to simplify digital payments on mobile apps

September 24, 2020.
Singapore’s United Overseas Bank has formed a new ecosystem of partners, including Visa and Grab, that will streamline digital payments on various mobile apps for customers, taking advantage of the surge in contactless payments brought on by the global pandemic.

Marsh inks deal with Singapore fintech Triterras for digital credit insurance

September 24, 2020.
Deepening its ties to Singapore, insurance broker Marsh will work with Triterras Fintech to offer a credit insurance product to serve increasing customer demand for digital tools during the COVID-19 pandemic.

Banks in US, Europe, Japan will not recover to pre-pandemic strength until 2023: S&P

September 24, 2020.
Banks in the U.S., Europe and parts of Asia will not return to pre-pandemic levels of credit strength until 2023, S&P ratings said Wednesday, warning the sector may take years to recover after the launch of a successful vaccine.

BNP Paribas to shut down commodity trade financing operations in Switzerland

September 23, 2020.
BNP Paribas is discontinuing its commodity trade financing activities in Switzerland, a move that could affect 120 Geneva-based employees, the bank’s Swiss group said Wednesday.

Blockchain Capital becomes latest member of Facebook-backed Libra group

September 18, 2020.
Blockchain Capital, a venture capital firm focusing on crypto technologies, has joined forces with the Facebook-backed Libra Association as the group continues working to develop and manage a new digital currency.

Fintech Affirm raises $500M in funding round led by Singaporean wealth fund

September 17, 2020.
Point-of-sale loan fintech Affirm raised $500 million in a Series G funding round led by Singaporean sovereign wealth fund GIC, a longtime backer, and Durable Capital Partners, the firm said Thursday.

SGX ushers in the first China bond ETF in Singapore, created by CSOP, ICBC

September 17, 2020.
The Singapore Exchange on Thursday unveiled the listing of the world’s biggest exchange-traded fund to invest solely in Chinese government bonds, aiming to capitalize on investors’ accelerating demand to access opportunities in the second-largest bond market on the globe.

Nasdaq to list its first crypto exchange after Diginex deal approved by shareholders

September 16, 2020.
Diginex moved a step closer to trading on the Nasdaq exchange after shareholders of a blank check company approved a merger with the cryptocurrency and blockchain services firm.

Klarna becomes highest-valued fintech in Europe after $650 million funding round

Last modified September 15, 2020. Published September 15, 2020.
Klarna Bank, a Stockholm-based online payments and shopping service, says that it has become the highest-valued fintech in Europe at a post-money valuation of $10.65 million after raising $650 million in an equity funding round.

Franklin Templeton, Singapore fintech partner on wealth management for millennials

September 14, 2020.
Investment management firm Franklin Templeton formed a partnership with Singapore startup Razer Fintech to collaborate on a digital wealth management platform that appeals to younger generations.

Sumitomo Life to up Singlife stake to finance Aviva deal

Last modified September 14, 2020. Published September 14, 2020.
Japanese insurer Sumitomo Life said Monday that it will provide Singapore Life with SGD 320 million ($234.59 million) worth of additional equity capital, a deal meant to help finance the latter’s pending takeover of a controlling stake in Aviva’s Singaporean business.

Aviva to sell off majority stake in Singaporean unit for SGD 2.7B

September 11, 2020.
Aviva said on Friday that it will sell a controlling interest in its Singapore division to a group led by Singapore Life for SGD 2.7 billion ($1.97 billion), a move the U.K. insurer said will improve its financial position in line with a recent commitment to a narrower focus for its divisions.

Standard Chartered completes novel cross-bank blockchain transaction between Thailand and Vietnam

Last modified September 11, 2020. Published September 11, 2020.
Standard Chartered said on Friday that it completed the first cross-bank letter of credit transaction between Vietnam and Thailand over blockchain, in a move aimed at further modernizing and digitizing operations for the $18 trillion trade finance market.

Crypto exchange Diginex raises $20M with Nasdaq listing set for this month

September 8, 2020.
Leveraging ongoing interest in blockchain technologies and digital currencies, Hong Kong-based Diginex raised $20 million as it prepares to list on the Nasdaq exchange later this month through a blank check company.

Mastercard partners with Asian Development Bank, fintechs to digitize supply chains

September 8, 2020.
In an effort to address supply chain interruptions throughout Asia caused by COVID-19, Mastercard said Tuesday that it has partnered with the Asian Development Bank to develop technology to increase wholesalers’ access to credit and improve overall efficiency in the region.

Japan to establish first foreign-owned broker approved for operations in China

September 4, 2020.
Tokyo-based Ueda Yagi Tanshi Co. will be the first wholly foreign-owned money broker to operate in mainland China, after receiving approval on Friday from the China Banking and Insurance Regulatory Commission.

DBS unveils Singapore’s first SORA-linked business property loan

September 4, 2020.
DBS said on Thursday that it launched a business property mortgage loan pegged to the Singapore Overnight Rate Average, the first of its kind in Singapore, as the city-state transitions in the adoption of the new benchmark interest rate.