Articles filed under
Southeast Asia
39 articles
October 2023
Malaysia grants Hata in-principle approval to operate digital asset exchange
The Malaysian Securities Commission has given crypto firm, Hata, a conditional approval to operate a “digital asset exchange” with a “digital broker” license.
August 2023
Bitcoin, Ether extend losses; most other top 10 cryptos fall
Bitcoin fell in Tuesday afternoon trading in Asia, dipping below the support level of US$29,000.
June 2023
Crypto is sweeping South and SE Asia. Here’s why it matters to the rest of the world
Five countries in South and Southeast Asia now rank in the global top 10 for cryptocurrency adoption, embracing DeFi and defying government attempts to discourage crypto use. Is this a harbinger of larger trends to come?
May 2023
Hong Kong Web3 industry forms new associations to push crypto hub ambition
Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.
Hong Kong? Singapore? Tokyo? Seoul? Dubai? The race is on for the Web3 hub of Asia | Part 1
As U.S. regulators file lawsuits against cryptocurrency platforms, prompting some digital asset companies to seek more favorable jurisdictions, a fleet of cities in Asia are putting out the welcome mat, seeking to attract the jobs and investment that Web3 technologies promise. Right now, Hong Kong seems to be grabbing the limelight, but it has competition.
Malaysian regulator orders Huobi crypto exchange to cease local operations
The Securities Commission Malaysia (SC), the capital markets regulator, has charged cryptocurrency exchange Huobi Global and its chief executive officer Leon Li for operating a digital asset exchange (DAX) without registration.
Bitcoin, Ether push higher, Litecoin biggest gainer in top 10 cryptos; U.S. stock futures, Asian equities gain
Bitcoin rose 2.07% to US$27,409 in 24 hours while Ether gained 1.27% to US$1,829. Litecoin was the biggest gainer of the day, rising 7.65%.
January 2023
Why Islamic finance is thriving despite global market storms
While much of the world economy remains mired in winter doldrums, it’s springtime for the Islamic finance sector. Mohammed AlKaff AlHashmi of Islamic Coin explains why.
November 2022
Scam Center Slavery?
It’s no secret that crypto scams and fraud are abundant – but those doing the scamming might be victims of something even more sinister.
Huobi plans Southeast Asia, Europe, Caribbean expansion
Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to ramp up its investments in Southeast Asia and Europe as part of its global expansion, the company said in a statement on Tuesday.
China’s state blockchain infrastructure Xinghuo BIF partners Malaysian MyEG to fuel global push
China’s state blockchain infrastructure Xinghuo Blockchain Infrastructure and Facility has signed an agreement with Malaysian digital service provider MY E.G. Services Berhad to own and operate an “international supernode,” as China continues its international blockchain push.
October 2022
Singapore’s digital marketplace Alta buys Hg Exchange
Singapore-based Alta, a digital marketplace for alternative investments, has acquired private digital securities exchange Hg Exchange (HGX) for an undisclosed amount.
Malaysia’s Blockchain Ambitions
Malaysia looks towards blockchain in its future plans- but how could a national public blockchain help?
Malaysia to get its own national public blockchain
MY E.G. Services Berhad (MYEG) and Mimos Technology Solutions Sdn Bhd (MTSSB) signed a memorandum of understanding (MOU) on Thursday to co-develop and operate Malaysia’s national blockchain infrastructure to onboard the nation’s private and public sectors to Web 3.0. See related article: Huobi Global talking to Malaysian regulator about being put on investor alert list […]
September 2022
Cryptocurrency crowd shrugs off market woes at upbeat TOKEN2049 conference
In the first of a two-part report on this year’s cryptocurrency gathering in Singapore, defiance outshone defeatism despite industry’s struggles.
August 2022
Ant Group, Malaysian investment bank Kenanga develop crypto wealth app
Ant Group, Chinese tech giant Alibaba’s fintech affiliate, has partnered with Malaysian investment bank Kenanga to launch a wealth management app with features to trade cryptocurrencies. See related article: Tencent gets patent nod to use blockchain for missing persons’ notices Fast facts Kenanga Investment Bank Berhad announced on Wednesday that it signed a memorandum of […]
Huobi Global talking to Malaysian regulator about being put on investor alert list
Huobi Global told Forkast it is working towards being in compliance with Malaysia after its securities regulator put the Seychelles-based cryptocurrency exchange on its investor alert list for operating the digital asset business without proper registration. See related article: Huobi to end crypto derivatives trading in New Zealand Fast facts “We are currently in discussions […]
Welcome to Web3, (hopefully) not a bigger monster than its version 2 sibling
How does a centralized internet browser plan for a decentralized future? Reinvention, and finding a receptive audience. First stop, Southeast Asia.
Philippines’ SEC warns public not to invest with Binance
The Philippines’ Securities and Exchange Commission (SEC) has cautioned the public not to invest with Binance, the world’s largest cryptocurrency exchange by trading volume, in response to think tank Infrawatch PH’s request to ban Binance in the Philippines. See related article: Philippines think tank calls for ban on Binance Fast facts In a letter responding […]
July 2022
More than half of Bitcoin investors in SE Asia use the crypto to preserve wealth: report
According to a report by AAX crypto exchange and Forrester Consulting, 51% of Bitcoin owners in Southeast Asia used it to save money and preserve their wealth. See related article: Crypto trading volumes dip to 18-month low amid bear market Fast facts Some 47% of Bitcoin users in Southeast Asia sought a profit while 44% […]
Lightspeed launches US$500 mln fund for India, SEA
Lightspeed India Partners (LSIP) announced on Tuesday the closing of a US$500 million early stage fund (LSIP Fund IV) for India and Southeast Asia, as part of venture capital firm Lightspeed Venture Partners’ (LSVP) US$7.1 billion commitment. See related article: Huobi Ventures bets on DeFi and gaming in $10M GameFi fund Fast facts In addition […]
NFT gallery drops on Tencent’s SEA music app JOOX
JOOX, Tencent’s music streaming service for the Southeast Asian market, has launched a non-fungible token (NFT) gallery in its app, taking another step in the Chinese tech giant’s Web3 drive. See related article: Tencent’s music app tests NFT avatars, virtual music room Fast facts In collaboration with music NFT marketplace MusicY, the new NFT gallery […]
As earnings from play-to-earn games dwindle, some turn to upskilling players
Players are being educated to turn into writers, content creators, streamers or e-sports players as earnings from play-to-earn games aren’t enough to substitute for a day job.
April 2022
How Southeast Asia’s NFT ecosystem lifts up local artists
Providing access to global customers and higher income, NFTs are changing lives in some of the poorest places in the world, writes Katherine Ng.
March 2022
Bitcoin legal tender status meets stop sign in Malaysia
Malaysia’s deputy finance minister Shahar Abdullah turned down a proposal to adopt Bitcoin as legal tender on Thursday, calling cryptocurrency unfit for payments. See related article: Malaysia ministry: adopt crypto as legal tender to engage the young Fast facts Abdullah voiced concerns around cryptocurrencies’ price volatility and cyber security risks. Zahidi Zainul Abidin, the deputy […]
Fusang defers IPO; Yuga Labs hits $4bn valuation
Malaysia’s Fusang defers their IPO. Meanwhile, Blockchain Week Australia looks into intellectual property rights.
Echoes of El Salvador as Malaysian minister calls for crypto adoption
Top blockchain and crypto news: Bitcoin buzz in Malaysia. Yuga Labs teases Otherside. Blockchain verdict in China.
Fusang delays security-token IPO amid market jitters
Conflict in Ukraine takes a toll on Malaysian exchange’s $10 million IPO just a week before planned listing.
Malaysia’s crypto proposal; Hong Kong’s 11-yr-old NFT coder
A Malaysian minister has proposed making Bitcoin a legal tender. Meanwhile in Hong Kong, an 11-year-old programmer makes his way into the NFT business.
Malaysia ministry: adopt crypto as legal tender to engage the young
Malaysia’s deputy minister of its Communications and Multimedia Ministry told the parliament on Monday the country should consider adopting cryptocurrencies like Bitcoin as legal tender, local media The Star reported. See related article: Will El Salvador’s lead on Bitcoin inspire others to follow suit? Fast facts Zahidi Zainul Abidin, the deputy minister, said the communications […]
Singapore’s crypto future; Korea “White Day” NFTs a hit
Singapore’s image as a “crypto hub” may soon change as the country doubles-down on it’s stance that crypto currency is “not suitable for the general public”. Meanwhile, Korean convenience store giants CU launch their White Day NFT competition.
February 2022
Play to live: GameFi drives a Southeast Asian crush on crypto
More people in the region are in thrall to play-to-earn gaming as it adapts to offer real-world uses, says Infinity Ventures Crypto founding partner Brian Lu.
January 2022
Asian Development Bank to use blockchain for cross-border securities transactions
Philippines-based Asian Development Bank (ADB) has launched a blockchain project to make cross-border securities transactions in Asia-Pacific more efficient. Fast facts The regional development bank of 68 member countries is aiming to use blockchain to directly connect central banks and securities depositories in the Association of Southeast Asian Nations region plus Japan, China and South […]
Fusang receives green light for US$10M equity-token IPO
Malaysian exchange will offer equity tokens representing direct shares on the blockchain, claiming it will be the world’s first fully regulated equity-token IPO.
South China’s Guangxi region looks to cross-border e-CNY trade uses
Guangxi, China’s southern provincial-level region, is researching cross-border finance, supply-chain service platforms and e-CNY applications, according to a report by local state-run media Guangxi Daily. Fast facts The Guangxi autonomous region — often seen as a gateway for Association of Southeast Asian Nations (ASEAN) trade — plans to support cross-border circulation of capital, according to the […]
December 2021
Crypto in Asia: 5 top fintech regulatory stories of 2021
Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.
Myanmar’s resistance routes funding through Tether
Top blockchain and crypto news: Can stablecoins bankroll democracy? Nike swooshes into the metaverse. Animoca and Bored Apes venture deeper into the gaming jungle.
Binance to set up digital asset exchange in Indonesia with local telecom giant
Binance, the world’s largest cryptocurrency exchange, today announced that it has set up a joint venture with the venture capital arm of Telkom Indonesia, the country’s largest telecommunication company, to develop a new digital asset exchange there. Fast facts Binance said in a statement that it has teamed up with MDI Ventures — a US$830 […]
Myanmar’s shadow government uses Tether in its fight against military rule
The National Unity Government recognizes Tether as an official currency, defying the cryptocurrency ban imposed last year.
November 2021
South Korea’s Gamevil acquires blockchain tech company
Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games. Fast facts Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has been internalized into […]
Norway considers banning Bitcoin mining while Laos embraces it
The Scandinavian country is concerned with potential environmental harm, while the debt-laden SE Asia nation seeks to regulate.
How will CBDCs benefit economies in Southeast Asia?
Central banks around the world are exploring digital currencies, writes Aymeric Salley of StraitsX. Here’s why Southeast Asia may be especially ripe for them.
Indonesia’s top Islamic council says crypto use is forbidden for Muslims: report
The religious body’s decision comes after the country saw crypto transaction growth earlier this year.
Funding in crypto firms in Southeast Asia surges over 400% in 2021
Amid rising retail and institutional investor interest in cryptocurrencies like Bitcoin and Ethereum, investments poured into crypto firms in Southeast Asia in the first nine months of 2021 surged by over 400% compared with full year 2020 to US$356 million, according to the FinTech in ASEAN 2021 report by UOB, PwC Singapore and the Singapore […]
Temasek-founded Affinidi launches new business unit to bring Web 3.0 to financial services to Southeast Asia
Affinidi, a Singapore-based technology company founded by state-owned investment firm Temasek, today announced the launch of a new business unit called Finnovate that aims to serve millions of underbanked individuals and small and medium enterprises across Southeast Asia by leveraging on Web 3.0 blockchain technologies. Fast facts Affinidi Finnovate is partnering with the financial services […]
October 2021
The Philippines looks to blockchain voting for its diaspora
The nation’s elections commission wants to upgrade its voting technology to improve voter turnout and public trust. Does blockchain check the boxes?
Central and Southeast Asia among fastest-growing regions in global crypto adoption: Chainalysis
Much of the growth in the region is driven by strong grassroots adoption rates led by Vietnam, India and Pakistan, new data from Chainalysis shows
Laos hires Tokyo blockchain startup to explore CBDC
Laos enlisted Soramitsu, a blockchain company headquartered in Tokyo, Japan, to explore a central-bank backed digital currency (CBDC). The Lao Central Bank and Soramitsu’s research will begin as early as this month. Fast facts The Central Bank of Laos reportedly has recently signed a memorandum with the Japan International Cooperation Agency to discuss the development […]
September 2021
Retail malls, move over. Crypto mining is in for Malaysia’s Hatten Land
Malaysian property developer Hatten Land has signed an agreement, through a subsidiary, with Singapore-based digital asset management company Frontier to share proceeds from jointly operating at least 1,000 cryptocurrency mining rigs within Hatten Land properties in Malaysia, according to a company statement released today. Fast facts Hatten Land has previously announced that it would repurpose […]
What does China’s crypto ban really mean? Insights from the ground
China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
How Southeast Asia flowered into a global crypto hub
Until recently, most Southeast Asians had no internet. Now the region is abloom with blockchain innovation. How did they do it?