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Asia/Pac

·Nov. 4, 2016

Six P2P Platforms Registered in Malaysia

B2B FinPAL, Ethis Kapital, FundedByMe Malaysia, ManagePay Services, Modalku Ventures and Peoplender have now been registered with the Securities Commission of Malaysia and plan to begin business in 2017; Malaysia is the first of the ASEAN countries to register P2P lending companies. Source

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Asia/Pac Fintech News Roundup

·Sep. 6, 2017

Ride-Sharing and Financial Services

Bloomberg reports on the possibility of ride-sharing companies getting into financial services; Grab is a leading ride-hailing company in Southeast Asia; app users can now start sending credits which are used to pay for rides to other users; by the end of 2017 credits will be able to be used at 1,000 restaurants and retailers, turning Grab into much more of an e-payment platform than just a taxi service; in Indonesia, the 200,000 drivers of Go-Jek can use e-wallets to store their earnings and also spend funds on a variety of services; article also shares innovation in Kenya with M-Pesa as well as China's Alibaba and WeChat. Source

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Asia/Pac News Roundup Online Lending

·Apr. 3, 2017

China’s CredEX Fintech Gains Positive Market Exposure from LendIt USA 2017

CredEX has created an intermediary peer-to-peer lending technology solution which allows banks to facilitate peer-to-peer loans; the company participated in a roundtable forum at LendIt USA 2017 with Peter Renton, founder of LendIt and Jo Ann Barefoot, former deputy comptroller of the currency and Harvard professor; in comments regarding CredEX, Peter says: "Their instant credit decisions and the robust underwriting platform they have built has allowed them to become a leading fintech company in China in a very short time. Unlike most fintech companies they are 100% app-based, they are funded by banks and they are doing more than US$1 billion in loans annually. They represent the future of lending." Source

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Asia/Pac Fintech News Roundup

·Apr. 7, 2017

Regulator Discusses Blockchain Standards for China

Huo Xuewen, secretary of Beijing's Municipal Bureau of Finance, discussed potential standards for blockchain in China in a recent speech; Xuewen is a proponent of blockchain and says the country should implement a standardized approach for its development; the government's current focus is on regulatory standards for bitcoin investments and trading; Xuewen says the country can do more with blockchain across all industries. Source

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Asia/Pac Fintech News Roundup

·Dec. 30, 2016

Russian Airline Completes Letter of Credit Deal with Bank through Blockchain

PJSC Siberia Airlines has announced the first letter of credit service payment using blockchain; the opening and executing of the letter of credit issued from Alfa-Bank was recorded with smart contracts on a distributed ledger; the subsequent payment for services will also be transacted through blockchain technology; Alfa-Bank provided members of the deal with an electronic Alfa-business online system for deal processing. Source

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Asia/Pac Fintech News Roundup

·Aug. 9, 2017

Timothy Li Reports on LendIt’s Lang Di Fintech 2017 in China

Timothy Li discusses the event and the interest in fintech from investors in his most recent journal entry on Crowdfund Insider; lists some of the top investors, outlines companies attending and shares some pictures from his time in China. Source

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Asia/Pac Fintech News Roundup

·Aug. 28, 2017

CB Insights: How Chinese Tech Giants Are Plowing into Southeast Asia

CB Insights outlines five tech giants' notable investments, partnerships and M&A moves in the Southeast Asia region; the five tech giants included in the article are Alibaba, Ant Financial, Tencent, Didi Chuxing and JD.com; the article highlights Ant Financial's investments in Singapore, Thailand, Philippines and Malaysia, as well as its strategic partnerships throughout Southeast Asia. Source

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Asia/Pac News Roundup Online Lending

·Mar. 16, 2017

Yirendai Reports Earnings Results for the Fourth Quarter and Full Year of 2016

Yirendai, an affiliate of CreditEase, is the only Chinese online lender publicly traded on a US exchange; its stock price closed at $29.29 prior to the company's earnings announcement after the closing bell on March 15; year-to-date the stock is up 41.36%; the earnings results showed revenue of $154.3 million for the fourth quarter, beating estimates by $19.38 million and increasing 137% from the comparable quarter; revenue for the year was $466.4 million an increase from $190.1 million in 2015; earnings per share for the fourth quarter were $0.91, beating estimates by $0.58 and increasing 287% from the comparable quarter; earnings per share for the year were $2.72 an increase from $0.79. Source

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Asia/Pac Fintech News Roundup

·Nov. 15, 2016

Accion Venture Lab Exits Varthana

Accion Venture Lab, a seed stage investment vehicle for financial inclusion firm Accion, has sold its stake in Varthana; Varthana provides specialized loans and services so people in India can afford to attend private schools; Accion Venture Lab's first investment into Varthana was in 2013; Varthana recently raised $14 million in the spring of 2016. Source

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Asia/Pac News Roundup Online Lending

·Apr. 19, 2017

Money360 Obtains $250mn Debt Facility

Pi Capital International LLC has advised Money360 on a $250 million structured debt facility; the funding comes from a financial institution in South Korea; Pi Capital was able to facilitate the transaction through its global alternative capital network. Source

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