Bitcoin Surges Past $60,000 as Market Optimism Soars: Insights and Implications
Bitcoin surpasses $60,000 fueled by institutional interest and market optimism, with Ethereum also hitting new highs, prompting anticipation of ETF approvals by U.S. regulators. 29 February 2024 – On Wednesday, Bitcoin soared above the $60,000 threshold for the first time in over two years, propelled by a surge of investment into new U.S. spot bitcoin exchange traded products. The cryptocurrency witnessed a remarkable 42% price...
Malaysia and Cambodia Strengthen Financial Cooperation with Cross-Border Payments Agreement
Malaysia and Cambodia strengthen financial ties with a Memorandum of Understanding (MoU) between Bank Negara Malaysia (BNM) and the National Bank of Cambodia (NBC), aiming to enhance cross-border payments and financial innovation, benefitting businesses and individuals in both countries. 28 February 2024 – Bank Negara Malaysia (BNM) and the National Bank of Cambodia (NBC) have formalized their commitment to enhance financial...
Visa and GSMA Foundation Unveil DFA Initiative to Advance Digital Financial Inclusion Worldwide
Visa and the GSMA Foundation have launched the DFA Initiative, targeting enhanced digital financial inclusion for 20 million individuals in low- and middle-income countries, focusing on women, small holder farmers, small enterprises, and refugees. 27 February 2024 – Visa and the GSMA Mobile for Development Foundation have joined forces to launch the Digital Finance for All (DFA) Initiative, aiming to enhance digital financial...
Green Packet Partners with Malaysian Firm to Develop Tourism Digital Platform in Sri Lanka
Green Packet teams up with a Malaysian firm to develop a tourism digital platform for Sri Lanka, investing RM13 million initially. The initiative, led by its subsidiary Kiplepay Sdn Bhd, aims to introduce a multi-currency e-wallet system, marking the company’s entry into the international market and strategic expansion beyond Malaysia. 24 February 2024 – Green Packet Bhd, a prominent IT company, has forged a strategic...
Mastercard and GX Bank Launch Malaysia’s First Unlimited Cashback Debit Card
Mastercard and GX Bank Berhad (GXBank) have launched Malaysia’s first unlimited cashback debit card, the GXBank Card (GX Card), offering users 1% cashback on various transactions. This collaboration aims to enhance financial inclusion and support Malaysia’s digital transformation. 24 February 2024 – In a groundbreaking collaboration, Mastercard and GX Bank Berhad (GXBank) have introduced Malaysia’s inaugural...
Capital One to Acquire Discover Financial Services in Landmark US$35.3 Billion Deal
Capital One’s $35.3 billion acquisition of Discover Financial Services marks a strategic move to consolidate the US credit card industry, fostering competition and innovation. Under the leadership of CEO Richard Fairbank, the deal aims to establish a robust payments network to rival industry giants like Visa and Mastercard. 21 February 2024 – Capital One, a prominent US consumer lender, has announced its acquisition of...
Mastercard and CrescentRating Release Inaugural Muslim-Friendly Cruise Report 2024
Mastercard and CrescentRating release the inaugural Muslim-Friendly Cruise Report 2024, highlighting the significant growth of Muslim cruise passengers and providing valuable insights into booking preferences, budget allocations, cruise durations, and payment methods within the Muslim traveler segment. 19 February 2024 – Mastercard and CrescentRating have unveiled the first-ever Muslim-Friendly Cruise Report 2024, marking the...
Bitcoin Hits $1 Trillion Milestone Amidst Record Highs and U.S. Spot ETF Surge
Bitcoin surpasses the $1 trillion market cap milestone amidst a surge in U.S. ETF investments, reaching a 25-month high and signaling renewed investor confidence in the cryptocurrency market’s resilience. 15 February 2024 – Bitcoin’s total market value surged past $1 trillion on Wednesday, marking a significant milestone not seen since November 2021, fueled by continuous inflows into U.S. spot bitcoin exchange-traded...
Sophos Reveals Global Surge in DeFi Savings Scams by Sha Zhu Pan Scammers
Sophos exposes the expansion of sha zhu pan scammers’ DeFi savings schemes, highlighting the global proliferation of fraud facilitated by sophisticated scam kits and the emergence of new pig butchering rings across diverse regions. 15 February 2024 – Sophos, a global leader in cybersecurity services, has exposed the emergence of sophisticated “DeFi savings” scams within the realm of cryptocurrency fraud,...
RGE Secures US$1 Billion Sustainability-Linked Loan for Agribusiness Expansion, Reinforcing Commitment to Green Growth
Singapore’s RGE has secured a US$1 billion Sustainability-Linked Loan (SLL) for its agribusiness, incorporating Asian Agri and Apical. The SLL, tied to key performance indicators (KPIs), highlights RGE’s commitment to sustainability, with oversubscription by 1.4 times and the introduction of a Sustainability-Linked Derivative (SLD) reinforcing the company’s dedication to responsible growth and accountability. 29...
Mastercard Launches Biometric Authentication Service to Enhance Security and Streamline Digital Interactions
Mastercard has introduced the Mastercard Biometric Authentication Service, leveraging FIDO standards, to replace traditional authentication methods and enhance the security and convenience of digital interactions. The service integrates biometrics, such as fingerprint or face recognition, making account logins, account changes, and payment processes more seamless, supporting all card brands and various forms of payments. 25 January...
Myanmar Central Bank Launches Awareness Campaign to Tackle Mobile Payment Fraud
Myanmar’s Central Bank is intensifying efforts to combat mobile payment fraud by conducting awareness campaigns and establishing an action task force in collaboration with relevant ministries and financial organizations. The initiative aims to swiftly respond to reported fraud cases, protect consumers, and ensure the widespread use of mobile financial services in compliance with laws and regulations. 25 January 2024 –...
Maybank Islamic Pioneers Shariah-Compliant Portfolio Financing to Enhance Islamic Wealth Management
Maybank Islamic has become the first Islamic bank in Malaysia to launch a Shariah-compliant portfolio financing solution, enhancing its Islamic wealth management (IWM) offerings. The move aligns with the growing demand for ethical and purpose-driven investments, and Maybank Islamic aims for a 30 percent business growth by the end of the year with the introduction of this new solution. 24 January 2024 – Maybank Islamic Bhd has...
Finalyst Unveils Innovative Platform to Address Malaysian Youth Debt Crisis Through Financial Health Assessment
Finalyst, a homegrown FinTech platform, has launched a pioneering financial health assessment service to tackle the high debt levels among Malaysian youth, attributed to financial illiteracy. The platform, equipped with cutting-edge technology, offers custom financial plans, visualization of scenarios, and monitoring functionalities, aiming to redefine the financial planning landscape in Malaysia. 24 January 2024 – Homegrown...
Gamuda Land and Alliance Bank Unite in Strategic Partnership to Strengthen Community Bonds
Gamuda Land and Alliance Bank have entered a strategic partnership, enabling Alliance Bank credit card users to leverage rewards points for Gamuda Land offerings, reinforcing a commitment to community bonds and placemaking efforts. The collaboration offers exclusive benefits for managing down payment repayments and additional perks for mortgage applicants, contributing to vibrant and interconnected neighborhoods. 24 January 2024...
Bitcoin Hits Seven-Week Low Below $40,000 Amid ETF Launch Fallout and Competition with Traditional Stocks
Bitcoin hit a seven-week low, dropping below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on January 11. The decline, down 3.98%, coincided with the cryptocurrency market facing challenges competing with traditional stocks, as the S&P 500 index reached record highs. Analysts and market-watchers attribute the dip to a variety of factors, including the SEC’s approval of bitcoin ETFs,...
Bursa Malaysia Launches SME X Platform for Enhanced SME Fundraising and Investor Connections
Bursa Malaysia, in partnership with the Companies Commission of Malaysia (SSM), introduces the SME X Platform, a groundbreaking initiative facilitating corporate fundraising for SMEs. Leveraging data and technology, the platform connects SMEs with potential investors, offering comprehensive insights into company performance. The platform is a result of a collaboration between Bursa Malaysia and SSM, aimed at enhancing data analytics...
Bank Negara Malaysia Addresses Misrepresentations Surrounding Quantum Metal Sdn Bhd
BNM clarifies that Quantum Metal Sdn. Bhd. (QMSB) is a reporting institution but emphasizes that its products and activities are not approved or licensed by BNM. The statement also addresses misinformation on social media regarding transaction approvals and warns against the misuse of BNM’s name. 22 January 2024 – In response to circulating claims and misrepresentations, Bank Negara Malaysia (BNM) has issued a statement...
Boost Expands Shariah-Compliant PayLater Solution for All In-App Transactions
Boost, a leading fintech player, expands its Shariah-compliant PayLater solution, Boost PayFlex, to cover all in-app transactions, providing users with a controlled credit line for flexible payments. This move aims to enhance financial inclusion and empower users to manage their finances responsibly. 18 January 2024 – Boost, a prominent regional fintech leader, has announced the expansion of its Shariah-compliant PayLater...
GHL Paving the Way to an Eco-Friendly Payment Future
GHL Systems Berhad introduces digital receipts, a pioneering feature aiming to transform the payment landscape for both businesses and customers. This eco-friendly initiative, part of GHL’s commitment to sustainability, gradually rolls out to merchants, emphasizing the collective responsibility to minimize the environmental impact of traditional paper receipts. 15 January 2024 – In a decisive move towards digital...
