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Crypto Exchanges Coming to the Philippines in Droves
“There are 29 pending applications under different stages of processing, i.e., ongoing evaluation, awaiting submission of documentary requirements, and for presentation of business model.”
- Categories
- Technology
- Region
- Asia Pacific
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Pakistan’s Central Bank Tells Banks to Cut Ties to Cryptocurrencies
In a statement published on the central bank’s website, it states cryptocurrencies are not recognized as legal tender.
- Region
- South Asia
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Reserve Bank of India bars banks from links to cryptocurrencies like bitcoin
RBI, however, has set up a group to study and provide guidance on the desirability and feasibility of introducing a central bank digital currency.
- Region
- South Asia
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U.S. Federal Reserve may review rules on lending to the poor
Changes to the Community Reinvestment Act (CRA) may be necessary due to the rise of online lenders, known as “fintech” firms, as well as industry consolidation, that has reshaped the community lending landscape.
- Categories
- Finance
- Region
- North America
- Tags
- fintech, lending, regulations
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The race to become the world’s leading leading Islamic fintech hub
Malaysia, the UK and Indonesia are leading the race, ranking first, second and third respectively by number of Islamic fintech startups, says Bloomberg Intelligence. However, fierce competition from Middle Eastern countries threatens their supremacy.
- Categories
- Finance
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Indonesia eyes fintech regulation to avoid ‘loan shark-like’ practices
The emergence of these peer-to-peer (P2P) lending platforms, offering loans ranging from as little as a few hundred dollars to several thousands, has so far been welcomed by Indonesia, Southeast Asia’s biggest economy where tens of millions of people have little or no access to bank credit.
- Categories
- Finance
- Region
- Asia Pacific
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Indian e-wallets are gasping for breath
Till now, using an e-wallet involved merely downloading the app, registering one’s mobile phone number, and linking it to one’s bank account. Now, customers also need to complete a more detailed KYC procedure within a year, which involves visiting a company-approved centre and getting documents physically verified. With this additional step, the industry has lost its most important pull-factor: convenience.
- Categories
- Finance
- Region
- South Asia
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Extending access to credit: Are alternate finance platforms creating tangible impact in India?
Having recently been brought under the regulatory ambit by the Reserve Bank of India (RBI), the thought was that the nascent online P2P lending sector can play a significant contribution towards furthering the cause of financial inclusion.
- Categories
- Finance
- Region
- South Asia
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