Global Fintech News

Related Fintech Industry News

• March 2023: An excess of USD 8.76 million would be given to the Malaysia Co-Investment Fund (MYCIF) to improve price discovery opportunities and further increase the liquidity of the peer-to-peer (P2P) and equity crowdfunding (ECF) markets. It would increase the total amount of accumulated funds under MYCIF that are available to MYR 300 million (65.34 USD million), according to the Securities Commission (SC). It proved crucial in securing funding for fintech firms as well as MSMEs.
• March 2023: The government set aside USD 0.26 billion to hasten MSMEs' attempts to go digital. It involves offering financial support for digitalization, such as grants for e-commerce platforms and online advertising campaigns. It would make it easier for Malaysian companies, including those in the fintech industry, to reach a larger clientele and broaden their customer base.

• October 2022: Tamara conducted transactions of USD 267 million in 2021, and it already has three million active users, according to Forbes Middle East.
• June 2022: The business most recently introduced Paymes, a social commerce platform to make payments easier for micro businesses, PT Touch, the first SoftPOS solution in MENA, and PayTabs SwitchOn, an integrated payments and transaction processing platform. PayTabs has offices in the United Arab Emirates and Saudi Arabia in addition to having a presence in other countries like Egypt. In 2021, the company conducted transactions totaling more than USD 4 billion, according to Forbes Middle East.

• March 2023: Financial platform Airwallex secured a payment business license in China, following the successful acquisition of a 100% stake in Guangzhou Shang Wu Tong Network Technology Co., Ltd., an information and online payment services company.
• February 2023: Fintech Zeller took on the big four banks to offer financial services to the small business sector, launching a new transaction account, debit card, and app.

• In September 2023, BitDATA Exchange partnered with MatchMove, a leading embedded finance enabler, to introduce a next-generation solution that transforms the way businesses manage their digital assets.
• In July 2023, MatchMove and Stripe collaborated to provide seamless payments for partners and merchants on the MatchMove-owned Shopmatic platform. MatchMove has integrated Stripe payments. MatchMove enables companies to offer a fully branded secure mobile wallet solution.
• November 2022: The United Kingdom and Singapore have agreed a new MoU boosting fintech trade and cooperation at their 7th Financial Dialogue in Singapore

• February 2023: Hala, a fintech company in Saudi Arabia, purchased Paymennt.com, a payments service provider based in the UAE, for an unknown sum. With this acquisition, Hala can handle omnichannel payments, integrate digital payments into its product offerings, and help its SME clients become more visible online. According to a press release by Wamda, the platform's payment processing increased by more than 250% yearly.
• January 2022: Saudi fintech start-up Lean Technologies won a USD 33 million Series A round funding injection from Sequoia Capital India. It marked the firm's first foray into investing in the Arab Gulf region.

• In August 2023, Securitize Agrees to Buy Crypto Wealth Manager Onramp to Expand RIA Services. With this acquisition Asset tokenization firm Securitize aims to extend its offering to registered investment advisors (RIAs) and Onramp will be operating as a subsidiary of Securitize to integrate Securitize products into its existing service.
• In September 2022, Ethereum underwent a significant transition known as "the Merge" which changed its technology to cut carbon emissions by more than 99.9 percent. The first phase of merge so-called "hard fork" will convert Ethereum from a proof-of-work (PoW) to a proof-of-stake (PoS) base

• Jul 2022: China approved a healthy plan to support the development of the fintech sector.
• Apr 2022: ANT group bought 2C2P, a Singapore-based company that helps enterprises in Southeast Asia move money across borders.

• February 2022: The Ministry of Municipal and Rural Affairs and Housing honored the Saudi National Bank for its efforts in serving the housing sector within the donor community after the bank announced the completion of the delivery of its community housing initiative, which resulted in the provision of 500 housing units to the beneficiaries of the housing development program from 2017 to 2021, including 361 fully-furnished housing units and 139 housing units, supported by purchasing cards.
• January 2022: Saudi National Bank announced the completion of the merger between Samba Financial Group and NCB, which is the fastest and largest merger in the history of Saudi Arabia. The merger resulted in the establishment of the largest banking entity in Saudi Arabia with assets of more than USD 239.7 billion.

• October 2023: Merkur, a casino games developer and subsidiary of The Gauselmann Group, entered into an agreement with Gaming Arts. The collaboration will likely focus on the development and supply of casino games for casinos across North America.
• August 2023: Golden Nugget Online Gaming has launched its online and mobile casino in Pennsylvania. The Golden Nugget Online Gaming casino app, powered by DraftKings technology, includes more than 500 slots and classic table games.

• August 2022: United States Bancorp launched its innovative real-time payment system, RTP Network solution, through which it can provide loan funds to auto dealers after the finalization of a loan contract by the bank. United States Bancorp has its businesses spread over Consumer and Business Banking, Payment Services, Corporate and Commercial Banking, and Wealth Management and Investment Services.
• January 2023: AutoFi Inc., which exists as a digital commerce technology provider in sales and finance for the automotive industry in the United States, partnered with Santander Consumer USA Inc., which is a consumer finance company focused on vehicle finance. The partnership will likely bring to market digital products to improve consumers' and dealers' interaction with the lender and simplify the car buying experience.