Latest Fintech News From Around Asia

The Asia-Pacific region is home to some of the world’s most innovative and fastest-growing economies. And as the region increasingly embraces digital transformation, its fintech sector is also booming.

From China to India to Singapore, fintech news global are changing the way people bank, invest, and make payments. They’re also providing much-needed financial services to underserved populations.

Here are some of the latest fintech news and developments from around Asia:

China

In China, fintech is big business. The country’s fintech sector is worth an estimated $1.8 trillion, and it’s growing quickly. One of the most popular fintech apps in China is Alipay, which is operated by Ant Financial, an affiliate of Alibaba. Alipay has over 700 million users and is used for everything from making payments to investing money. Another Chinese fintech giant is Tencent, which operates the popular WeChat Pay platform. WeChat Pay has over 600 million users and is used for a variety of financial services, including peer-to-peer payments, utility bill payments, and more.

India

India is another hotbed for fintech activity. The country’s fintech sector is expected to grow to $31 billion by 2020, up from $8 billion in 2016. One of the most popular fintech apps in India is Paytm, which is used by millions of people to make payments and transfer money. Paytm is also expanding into other financial services, such as lending and insurance. Another Indian fintech success story is MobiKwik, which is one of the country’s leading digital wallets. MobiKwik has over 30 million users and is used for a variety of financial services, including mobile recharges, utility bill payments, and more.

Singapore

Singapore is another Asian country where fintech is booming. The city-state’s fintech sector is expected to grow to $US73 billion by 2025.

One of the most popular latest fintech news asia is DBS, which offers a digital bank that allows users to do everything from opening an account to applying for a loan. Another leading fintech player in Singapore is Grab, which offers a mobile app that allows users to book taxis, pay for rides, and more. Grab is also expanding into other financial services, such as payments and lending.In addition to these two major fintech companies, there are a number of other startups that are making a name for themselves in the Singapore fintech scene. These include Paypal, which offers a mobile app that allows users to send and receive money; and MoolahSense, which offers a peer-to-peer lending platform.