Asia Fintech
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Hana Financial tests stablecoin payments and settlement with Upbit operator Dunamu
Hana Financial Group and Dunamu are testing real-time stablecoin payments and merchant settlement using customers’ Upbit wallets, ahead of Korea’s stablecoin rules.
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Visa Direct targets Philippine launch within six months, with no date for stablecoin transfers
Visa is aiming to launch a partner-led Visa Direct service in the Philippines within six months, but has set no date for stablecoin transfers as its own survey finds low…
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RBI cybersecurity advisory tells banks and payment firms to assume breach until systems are cleared
After CERT-In warned of AI-agent cyberattacks, the RBI told banks and payment operators to treat breached systems as compromised until forensically cleared and to tighten API and admin controls.
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Jakarta court overturns KPPU ruling against 97 P2P lenders over interest caps
A Central Jakarta commercial court has overturned the KPPU ruling that 97 peer-to-peer lenders ran an interest-rate cartel, finding that the caps followed OJK direction.
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Bank of Korea plans forex law change to treat stablecoins as payment instruments
South Korea’s central bank plans to draft a bill with the government this year amending the forex law to regulate stablecoins as a means of payment.
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Malaysia and Thailand central banks join MAS-led BLOOM initiative for cross-border digital money
Bank Negara Malaysia and the Bank of Thailand join Singapore’s BLOOM initiative as policymaker members, alongside new industry participants including Visa, Mastercard, Airwallex and Ripple.
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HSBC rolls out HK dollar stablecoin RedCoin to 3.3 million PayMe users
HSBC begins a phased launch of its Hong Kong dollar-backed stablecoin inside PayMe, starting with person-to-person transfers and merchant payments.
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OCBC launches ringgit savings for Singapore customers, a first for a non-Malaysian bank
From October 23, OCBC customers in Singapore can hold up to RM50,000 in Malaysian ringgit and earn interest on it, a first for a bank outside Malaysia.
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Pine Labs and WEBXPAY bring UPI and Indian payment methods to Sri Lankan merchants
Pine Labs and WEBXPAY let Sri Lankan merchants accept UPI, cards and net banking from more than 100 Indian banks, with plans to take the model to Southeast Asia.
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Shinhan Card and SBI to test yen stablecoin payments between Japan and Korea
Shinhan Card has signed an MOU with SBI XDC Network APAC and SBI VC Trade to explore yen stablecoin payments for in-store purchases and cross-border settlement.
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