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Retail Asia11/09/2020

Swiss digital investment specialist Crypto Finance has opened a branch in the Lion City. The company sees itself as a provider of services to the banking industry. Crypto Finance’s representative office in Singapore opens this month and will be led by the head of Asia, Alisher Tashpulatov, according to a media release on Wednesday. Tashpulatov previously worked in […]

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Retail Asia10/09/2020

Vietnam’s currency will likely remain stable this year as the greenback weakens and foreign exchange reserves rise, experts say. The reference rate set by the State Bank of Vietnam (SBV) has remained mostly stable this year and was at VND23,205 Tuesday. Rates at commercial banks for the last two months have also been stable. Vietcombank […]

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Retail Asia11/06/2020

The bank’s top anti-money laundering executive is leaving for Facebook-backed payments project Libra. Sterling Daines is leaving Credit Suisse for Libra, a source familiar with the matter said on Tuesday. The bank had poached Daines three years ago from Goldman Sachs to run its financial crime compliance, or FCC, activities under top compliance boss Lydie Hudson. He […]

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Retail Asia18/02/2020

Cryptocurrency exchange giant, Binance, has applied for an operating license in Singapore which continues to lure new players following the recent progressive developments in its regulatory regime. Founded in 2017, Binance experienced extremely rapid growth before achieving an estimated market cap of $1.3 billion by early January 2018. The Malta-headquartered exchange now has offices located […]

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Retail Asia04/02/2020

Cambodia is set to roll out Project Bakong, the country’s blockchain-based payment network that features a central bank digital currency (CBDC) payment system. The platform, trialed in July 2019 and set to go live this quarter, already has the backing of 11 banks, with others to join soon, Serey Chea, National Bank of Cambodia (NBC) assistant […]

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Retail Asia30/01/2020

Stack, an Asia-based provider of cryptocurrency trackers and index funds, has launched the single-asset index fund in response to investor demand. It expects to capture $750 million in assets under management within 2020, Matthew Dibb, co-founder of Stack said. The firm hopes to surpass $2 billion in assets under management next year by tapping into […]

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Retail Asia13/12/2019

The central banks of Hong Kong and Thailand are working to launch a digital currency to facilitate cross-border trade. Following a signed agreement to bolster financial technology collaboration, the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BOT) will jointly launch a digital currency to enhance cross-border trade, valued at $19.6 billion in 2018. HKMA’a […]

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Retail Asia06/12/2019

China’s crackdown on cryptocurrencies has led at least five local exchanges to halt servicing of domestic users or their whole operations altogether. Last week, Chinese exchange operators Bitsoda and Akdex announced that it would cease its operations. Btuex and Idax said they would close domestic operations and focus on overseas users. Biss said it had […]

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Retail Asia02/12/2019

Atlanta-based Intercontinental Exchange (ICE) is planning to launch bitcoin futures on December 9 in Singapore, following regulator’s new papers permitting the trading of derivatives tracking certain cryptocurrencies. The Bakkt bitcoin cash-settled monthly futures contract, denominated in U.S. dollars, will be settled against data from physically delivered Bakkt bitcoin monthly futures contract. The new contract will […]

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Retail Asia28/11/2019

Vietnam has significantly lowered penalties for illegal currency exchanges following outrage over a man being fined VND90 million ($3,900) for exchanging $100 last year. The fine was revoked after a public outcry erupted over disproportionate punishment. An individual or a shop illegally exchanging up to $1,000 will receive a warning instead of a fine of […]

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Retail Asia15/11/2019

The partnership with the National University of Singapore will bring together industry players, government agencies, regulatory bodies and educational institutions to develop and apply emerging technologies in the field. The School of Computing at the National University of Singapore and blockchain payments firm Ripple have come together to establish the NUS FinTech Lab, which aims […]

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Retail Asia04/11/2019

After amassing more than 8 million customers, the tech unicorn has landed in Singapore, its second market outside Europe. After much anticipation, U.K. challenger bank Revolut has rolled out its services in Singapore. Customers can now open an account from their mobile phones and start spending worldwide in over 150 currencies at the real exchange rate without […]

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Retail Asia16/09/2019

Just days after clinching a banking license in Switzerland, cryptocurrency-focused financier Sygnum will look to do the same in Singapore. Sygnum is currently pushing for a capital markets services license in Singapore to offer asset management solutions but will look to apply to become a fully-fledged bank this year. In order for us to provide […]

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Retail Asia02/09/2019

The Monetary Authority of Singapore warned the public about a website using fabricated comments from Prime Minister Lee Hsien Loong to solicit investments in bitcoin. The website not only used fabricated comments but also attempted to impersonate a news page from a local media organization, the Monetary Authority of Singapore (MAS) added. The information on […]

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Retail Asia05/07/2019

As expected, Facebook announced a brand new cryptocurrency coming in 2020 – Libra. Described as a new digital wallet for new digital currency, the new financial service will allow consumers to keep their cryptocurrency safe, as well as make various transactions. When it launches in 2020, the digital wallet will be available in Messenger, WhatsApp, but also […]

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Retail Asia18/02/2019

The dollar was marginally weaker on Monday, as increasing expectations of a U.S.-Sino trade deal led investors to shift away from the safety of the greenback into riskier assets. Both the United States and China reported progress in five days of negotiations in Beijing last week, although the White House said much work remains to […]

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Retail Asia30/01/2019

Vietnamese fintech firm Finhay has raised $1 million in seed funding from Singapore’s Insignia Ventures Partners and other foreign investors. “Finhay will use the $1 million investment to expand its user base 10-fold to 100,000,” said founder and director of Finhay Nghiem Xuan Huy. Finhay was established in 2017 with capital of $100,000 as a […]

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Retail Asia07/01/2019

The ringgit is expected to face a challenging upcoming week as the market uncertainty over trade tensions and a slowdown in the global economy encourage investors to remain risk-off. FXTM Research Global Head of Currency Strategy Jameel Ahmad said that the local unit may face the risk of falling below RM4.15 against the greenback next […]

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Retail Asia26/12/2018

The U.S. recent interest hike might result in a high demand for U.S. dollars in Vietnam, weakening the local currency further, experts say. The U.S. Federal Reserve Wednesday raised its interest rates for the fourth time this year to 2.25-2.5 percent. The Fed has projected two more hikes next year. Every time the Fed raises […]

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Retail Asia12/12/2018

The official exchange rate between Vietnamese dong and U.S. dollar reached its highest this year Wednesday, and experts said the dong could depreciate further. The State Bank of Vietnam set a central exchange rate of VND22,757 on Wednesday, the sixth time the rate has gone up in the last two weeks. The dong has fallen […]

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