FINTECH / REGTECH

Fintech / Regtech

BSP Grants Sixth Digital Bank Licence to PayMaya

By Editors | 20/09/2021

The seventh and final digital bank is likely to be an existing bank applying to convert into a digital bank, but approval has been delayed.

Big Picture

CBDCs Theaten to Eat Into Banks’ Remittance Fees: Moody’s

By Ranamita Chakraborty | 20/09/2021

Fees and commissions banks charge for cross-border transactions will be reduced with wide adoption of CBDCs.

Fintech / Regtech

PBOC Targets February 2022 Launch of Digital Yuan

By Sanday Chongo Kabange | 20/09/2021

The e-CNY has built-in functionality to enable self-executing payments via smart contracts. The PBOC aims to fully launch the CBDC by the 2022 Winter Olympics.

Fintech / Regtech

BOT to Embrace Digital Technology in Regulatory Approach

By Pongnut Thanaboonchai | 18/09/2021

The BOT will promote open data and infrastructure to facilitate SME access to credit. The sandbox rules will also be updated.

Crypto / Digital Assets

Laos Authorises Six Companies for Crypto Mining, Trading

By Editors | 18/09/2021

Government ministries will work with the central bank and national power utility to decide on rules governing the use of cryptocurrencies.

Enforcement

ACCC Launches Formal Investigation into Apple Pay

By Editors | 17/09/2021

Cards held in a third-party wallet such as a bank app can pay in-store only if they are routed through Apple Pay for a cost.

Securities / Derivatives

FINMA Grants Approval Allowing SIX to Deal in Digital Securities

By Editors | 16/09/2021

SIX Digital Exchange is approved to act as a CSD and its associated company SDX Trading to act as a stock exchange.

Fintech / Regtech

Korean Crypto Exchange Closures to Cost Investors $2.6b

By Sanday Chongo Kabange | 16/09/2021

The closure of almost 40 of Korea’s crypto exchanges would eliminate 42 so-called Kimchi coins and potentially result in $2.6bn in investor losses.

Fintech / Regtech

DTCC to Launch DLT-Based Settlement Platform in Q1 2022

By Editors | 15/09/2021

Project Ion will create an alternative clearance and settlement option for US equity markets that leverages distributed ledger technology.