Payments
Asia payments news: digital wallets, QR payments, real-time and cross-border payments, stablecoin payments and card networks across Asia-Pacific.
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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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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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Sea plans separate listing for fintech arm Monee
Sea founder Forrest Li told staff the group plans to take its financial services arm Monee public, according to a memo reviewed by Reuters.
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GCash owner Mynt rises in debut after record US$967 million Philippine IPO
GCash operator Mynt raised about US$967 million in the largest IPO in Philippine history, giving Southeast Asian payments a new public benchmark.
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