ASIA

Chinese Tech Group Behind TikTok Looks to Enter Finance

Chinese multinational tech group ByteDance is seeking a virtual banking license in Singapore as a means of entering digital finance. ByteDance, the Beijing-based multinational tech group behind Tiktok, is looking into adding banking to its line of products and services. It is currently bidding for a digital bank licence in Singapore, according to the Financial […]

Libra without Facebook: How Celo boosts financial inclusion

Thanks to Facebook-based Libra project, “stablecoins”, the latest craze in the cryptocurrency space, have attained great interest from the financial sector in recent months, spurring major central banks worldwide to offer the digital cash of tomorrow. While the Libra initiative has been struggling under mounting pressure from regulators, Celo, an open-source blockchain platform, has been […]

Major Boost to Digital Economy? China Allows Bitcoin Inheritance

China is drafting legislation to protect cryptocurrency inheritance rights. Following the results of two sessions held in Beijing, a draft of the country’s first Civil Code was adopted, regulating legal relations between citizens, marriage issues, family relations, as well as inheritance rights. China has recently passed a much-anticipated Civil Code that expands the scope of […]

China aims to launch digital yuan by 2022 Winter Olympics

BEIJING – China seeks to have its planned sovereign digital currency ready in time for the 2022 Winter Olympics here, the central bank revealed Tuesday, as the coronavirus pandemic accelerates a shift away from cash. The government plans to run pilot tests at Olympic venues, though there remains no official timetable for a release, People’s […]

Will Hong Kong launch its own digital currency?

Central Bank Digital Currency (CBDC) has emerged around the globe, as one of the key themes in financial technology development which could profoundly change how central banks manage both liquidity and physical cash. China is set to become the first country to develop its national digital currency, or “digital currency/electronic payment” (DCEP), with pilot schemes […]

IBM joins 12 banks backing blockchain platform We.Trade

IBM has joined 12 banks, including UBS, Deutsche Bank, and HSBC, in backing blockchain-based platform We.Trade, which brands itself as “a digital one stop shop” for supply chain trade. The new shareholder is also entering into a strategic partnership with the Irish fintech to enhance the platform’s network and accelerate its global commercialisation. The fintech […]

Ripple confirms increased xrp settlement in europe

Ripple’s CTO, David Schwartz, said that the firm is witnessing more demand for its remittance product than expected.  He initially thought Ripple would only see demand in historically expensive payment routes with low levels of liquidity.  David Schwartz, Ripple’s chief technology officer, has said that the firm is experiencing more demand for its XRP-powered remittance […]

Indian Crypto Exchange CoinDCX Raises $2.5M From Polychain Capital, Coinbase Ventures

India’s largest cryptocurrency exchange, CoinDCX, has secured a $2.5 million strategic investment led by Polychain Capital with support from Coinbase Ventures. The investment aims to reinforce the exchange’s efforts to drive cryptocurrency adoption in the country after a major legal victory in March. CoinDCX’s #TryCrypto campaign seeks to bring the total number of crypto users […]

Eight Countries That Don’t Tax Your Bitcoin Gains

As world governments push through legislation to levy taxes on capital gains from bitcoin (BTC) transactions, seeking to earn more from an asset class that frowns on regulatory oversight, there are still a few countries that remain pro-crypto, allowing investors to buy, sell or hold digital assets at zero taxes. Circumstances vary, but the real […]

Chinese Government Advisers Propose Regional Stablecoin for 4 Asian Countries

Top Chinese political advisers have proposed a regional digital currency that would be backed by four major Asian currencies including the Japanese yen, Korean won, Hong Kong dollar and the yuan. The proposal unveiled Thursday describes the currency as a “stablecoin,” a term for cryptocurrencies designed to hold their value and backed by a reserve […]

Chinese Officials Propose East Asian Stablecoin

Chinese officials plan to create a stablecoin backed by a basket of Asian digital currencies. The currencies involved are the Japanese yen, Korean won, Chinese yuan, and the Hong Kong dollar. This effort is separate from the People’s Bank of China’s central bank digital currency. Chinese officials proposed a regional stablecoin backed by four major […]

Will Asia’s tightening of crypto-regulations threaten its ‘crypto-hub’ position?

How To Choose An ICO To Invest In New ICOs (OTC) Asia has been called the ‘crypto-hub’ of the world for a long time now. Countries like Japan, Singapore, South Korea, and China have all recorded significant growth in the space over the past few years. With this, Asia has positioned itself way ahead of other […]

Cryptocurrencies Price Prediction: Bitcoin, Ripple & Ethereum – Asian Wrap April 10

Bitcoin Price Analysis: BTC/USD trends in an upward channel but struggles to cross over SMA 50 BTC/USD encountered resistance at the SMA 50 curve and charted two consecutive bearish days. The price of the asset has fallen from $7,295 to $7,241.35 in the early hours of Friday. Despite bearish action, the price is still trending […]

Cryptocurrency operators set for consolidation in fragmented Asian market, Binance says

Recent deals suggests a pick-up in M&A deals as Binance, Gojek expand footprint in region. Higher trading volatility, stricter anti-money-laundering rules could raise more regulatory requirements. How To Choose An ICO To Invest In New ICOs (OTC) A consolidation among cryptocurrency exchanges is set to drive mergers and acquisitions for virtual assets in Asia as the […]

Why Security Token Offerings Are a Big Yawn in Parts of Asia

Security token offerings (STO) were supposed to be the next big blockchain-based investment vehicle following the bursting of the initial coin offering (ICO) bubble of 2017. But there have been a number of reasons why this form of equity funding has not lived up to the hype of being a next-generation activity, including regulatory uncertainty […]

Experts expect Asia to play lead development role across the world

Asia is expected to lead the development of blockchain technology worldwide, with China among the key countries to watch next year, according to experts. Jason Potts, professor of economics and director of the Blockchain Innovation Hub at RMIT University in Melbourne, Australia, said Asian countries, including China, Singapore, South Korea and even Vietnam, are making […]

Startups in Southeast Asia eye space as next frontier for expansion

Tech companies hope to cash in on lucrative $415bn industry. Singapore-based startup SpaceChain has a grand vision for blockchain, with plans to take the digital ledger technology beyond this world and into space. Blockchain, a decentralized means for storing and recording digital transactions which is best known for underpinning the use of the Bitcoin cryptocurrency, […]

Philippines Proves to Be an Important Crypto Market with ‘Crypto Valley of Asia’ Airport

The International Monetary Fund distributed a 34-page Technical Assistance Report on the Philippines as a major aspect of its occasional conference with the nation’s controllers. The report and proposals inside it depend on an evaluation the IMF staff led in July. The substance of the report comprise specialized counsel given by the IMF staff to […]

Japan’s New Leverage Rule, South Korea for Mainstream Crypto, Initiative in Crypto Valley of Asia

Several other Asian countries have made crypto-related announcements this past week. In Japan, the Financial Services Agency (FSA) has reportedly revealed its plans to limit the leverage in crypto margin trading to twice the deposits of traders. Local media reported that the new rule will be included in a Cabinet Office order linked to the […]

Experts expect Asia to play lead development role across the world

Asia is expected to lead the development of blockchain technology worldwide, with China among the key countries to watch next year, according to experts. Jason Potts, professor of economics and director of the Blockchain Innovation Hub at RMIT University in Melbourne, Australia, said Asian countries, including China, Singapore, South Korea and even Vietnam, are making […]

This Year Proved Asia Is Ahead in Crypto-Blockchain Adoption

This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Michael Ou is CEO of CoolBitX, a blockchain security company and creator of the first hardware wallet that enables bluetooth-to-smartphone pairings. In 2019, it became clear that Asia was […]

Asia’s central banks are ahead in the race to develop their own digital currencies, say experts, led by China, Hong Kong, Thailand

Asia is a step ahead of other regions in developing central-bank digital currencies, with China, Hong Kong and Thailand set to roll out sovereign virtual tokens as a means of payment and to better monitor money flows. One thing these central banks have in common is that they are all planning to partner with commercial […]

Japan May Just Be the Most Bitcoin-friendly Country in Asia

The two biggest digital currency heists on the planet with losses totalling right around a billion dollars at trades in Tokyo, and a social inclination towards conservatism, appear to have scarcely hosed Japan’s excitement for bitcoin and different cryptographic forms of money.  Japan adores cash. With paper and coin installments as yet representing near portion […]

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