Frances Gagua
2 in 3 people to own a digital wallet by 2029: report
2 in 3 people to own a digital wallet by 2029: report
As of 2024, an estimated 52.6% of the world uses a digital wallet.
Citi names Jeff Wu as head of market sales for China
Wu will relocate to Shanghai.
WeLab Bank achieves first breakeven in Dec 2024
WeLab Bank credited it to its expanded loan book.
Land Bank of Taiwan secures license to operate in Australia
It can operate as a foreign authorised deposit-taking institution.
South Korea to unveil guidelines for short-selling
It plans to expand the English DART and Open DART services in January.
Luxembourg’s Banking Circle to buy Australian Settlements Ltd.
ASL provides settlement and payment services in Australia.
SEA fintech funding drop 23% to $1.6b in 2024
This is 75% lower than the funding it got in 2022.
Taiwanese banks’ SME loans rose in November
The bad loans ratio declined by 0.1 percentage point.
Hong Kong launches incubator for banks’ adoption of DLT
Tokenised deposits will be a core focus upon the incubator’s inception.
Japanese banks’ total assets at $9.15t in Nov 2024
Banks hold $1.52t in assets overseas.
Four factors shaping APAC’s digital retail payments in 2025
Cash remains relevant in Malaysia and Singapore.
XTransfer granted MPI license in Singapore
XTransfer will launch its payments solutions soon.
South African fintechs look to Hong Kong for funding
Tax perks and access to Africa await foreign investors.
Philippine digital lending may exceed $1b in H2 2025
Digital lenders may make up 55.2% of the market share, says Digido.
ZA Bank to give out cash equivalent to 1 Bitcoin
You can earn points by doing crypto investment related activities in the app.
China’s investment banking fees fall to lowest in 5 years
Only DCM underwriting fees saw growth.
Nanyang Commercial Bank warns against fraudulent websites
It has reported the case to authorities.
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1. Revolut Singapore hits first year of net profitability in 2024 2. CIMB Philippines says fund transfer issue ‘resolved’ 3. Union Bank of the Philippines ‘aggressive’ growth strategy brings more problem loans 4. Bank of America appoints Phil Carmalt as head of APAC GPS 5. HSBC Singapore unveils wealth centre at The Star Vista mallResource Center
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Compliance and legacy systems stall B2B payment shift
Retail drives digital payments as B2B adoption lags.
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The Asian connection: China's path to sustainable growth