Kapronasia

#DigitalAssets are revolutionizing the #AsiaPacific financial landscape, and custodian banks are at the center of this transformation. As demand for secure custody solutions surges, strategic partnerships with technology providers offer a clear path to success. Discover how these partnerships are reshaping the future of digital asset custody in the second blog of our series, created in partnership with Ripple: https://hubs.ly/Q02_Jhvp0 #DigitalAssets #Fintech #Innovation #Partnerships

The cryptocurrency market in Southeast Asia’s largest economy grew briskly in 2024. The value of cryptocurrency transactions in Indonesia reached Rp 475.1 trillion (US$29.6 billion) by October 2024, up 352% year-on-year, according to the country’s Financial Services Authority (OJK). Further, by the same month, there were 21.6 million crypto investors in Indonesia. #indonesia #cryptocurrency https://hubs.li/Q02_Zrdv0

Tyme Group, which operates digital banks in South Africa and the Philippines, has raised US$250 million in its Series D funding round, valuing it at US$1.5 billion. The new capital injection will support Tyme’s expansion into new markets, including Vietnam and Indonesia. In Vietnam, where it only has merchant lending operations, Tyme plans to roll out core transaction banking products later in 2025. In Indonesia, meanwhile, the digital bank also plans to launch merchant cash advance and is looking for a banking license, according to Reuters. https://hubs.li/Q02_Zvrt0

India’s United Payments Interface (UPI) currently accounts for 80% of India’s digital payment transactions, with significant growth in the first six months of 2024. Indeed, a report by Worldline found that UPI transactions jumped to almost 79 billion from January to July, up from roughly 52 billion during the same period in 2023. The corresponding value of these transactions rose by 40%, rising from INR 83.16 trillion to INR 116.63 trillion. #india #payments https://hubs.li/Q02_ZBDR0

#DigitalAssets are reshaping the #AsiaPacific financial ecosystem, with custodian banks at the forefront of this transformation. As demand for secure #DigitalAsset custody grows, partnerships are emerging as a critical strategy. Discover how banks can leverage technology providers to overcome operational challenges, ensure compliance, and position themselves as leaders in this dynamic space. Read the second blog in our series, in partnership with Ripple: https://hubs.ly/Q02_JlnT0 #DigitalAssets #Custody #Fintech #Innovation

Tencent-backed Airwallex appears to have had another banner year. In a Dec. 10 press release, the B2B payments firm said that its global revenue jumped 73% year-on-year while in the Asia-Pacific Region growth revenue growth was even brisker at 83%. #airwallex #fintech #payments https://hubs.li/Q02_Jbcr0

Observing Revolut CEO Nikolay Storonsky comment on how the UK fintech unicorn erred in its growth-first business strategy, one could almost imagine he was having a change of heart – that perhaps Revolut should be more modest and disciplined in its expansion efforts. Storonsky recently told Bloomberg, “For a long time, I wanted to be as less regulated as possible, it was the completely wrong decision.” He said that Revolut had focused too much on brisk growth. Yet he then went on to seemingly contradict himself. He said that Revolut sought to double in size from its current 50 million daily active customers to 100 million in 100 countries, with US$100 billion in annual revenue – a fiftyfold increase over the US$2.2 billion it earned in 2023. #revolut #fintech https://hubs.li/Q02ZVx4d0

In early December, BSP Deputy Governor Chuchi Fonacier told reporters that there is a “possibility” the Philippine central bank would allow four new digital banks in 2025. The regulator highlighted key factors that would be considered in determining the winners, which were mostly boilerplate – a unique value proposition, an innovative business model not yet offered by existing market players, and so on. The capitalization requirements, meanwhile, are modest, at 1 billion Philippine pesos (US$17,300,000). #philippines #fintech https://hubs.li/Q02_gH2f0

According to an estimate by Ernst & Young, Hong Kong had recorded 64 IPOs with total proceeds exceeding HK$83.4 billion as of November 30. While the number of deals fell 6% over the same period in 2023, proceeds raised increased 80%. #hongkong #capitalmarkets https://hubs.li/Q02_gCtX0

With the decision by Deutsche Bank (DB) to invest in Partior, the ambitious blockchain firm has raised a total of US$80 million in its Series B funding round. The German bank joined Partior's Series B funding round as a strategic investor. Its move should be complimentary to the recent launch of dbX, DB’s next-generation correspondent banking ecosystem for financial institutional clients. #partior #blockchain https://hubs.li/Q02-Sh8v0