Thailand’s Largest Bank to Launch New FinTech Platform
Thailand’s largest bank by revenue, Kasikornbank Pcl, has unveiled that it is planning to introduce a new FinTech platform by the end of the year as it attempts to prevent fee income from its rival banks. In a report from Bloomberg, Kattiya Indaravijaya, one of the four presidents at the Bangkok-based company, said that the goal was to produce faster, easier and lower-cost online banking transactions. There are also talks with overseas companies to create the digital payments platform. According to information from the Bank of Thailand, Thai mobile and Internet banking transactions....
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Thailand’s Fintech sector has called for the government to introduce regulations and support homegrown industry startups in the face of an increasing trend of external operators moving into the Thai market. The Bank of Thailand, the country’s central bank, does not enforce any regulations for cross-border trade in the financial services sector, leaving external payment platforms to gain a presence in the country. An example sees Thailand’s fourth largest bank by assets, Kasikornbank, partner Chinese fintech firm IBS for baht-yuan cross-country settlements. An alternative to the traditional....
In an apparent snub to Ripple, Thailand’s oldest bank, Siam Commercial Bank (SCB) is set to open a new cross border remittances corridor in partnership with Lightnet, a fintech company that uses the Stellar blockchain. SCB says the partnership opens the door for more efficient cross border funds transfer from South Korea to Thailand. Before choosing Lightnet, SCB teamed up with Ripple’s partner Azimo in April to open a payment corridor between Thailand and Europe by using the Ripplenet. However, in announcing the new partnership, an executive with SCB lauds the new service....
PRESS RELEASE. Baanx, the fast growing B2B2C “Better than a Banking Platform” specializing in fintech services & lending, becomes the third-largest shareholder in the United States regulated Maxwell State Bank in a multi-million-dollar deal to enhance cybersecurity and banking access to communities throughout America.
Maxwell State Bank is a fintech bank and VISA Principal Member established circa 1943 in Iowa. With total assets of $29,655,000 and deposits of $25,058,000 Maxwell has been FDIC certified since 1943 for insured deposits. Maxwell was acquired by....
The central bank of Thailand is not going to rush with the launch of its digital currency as it’s not yet sure about the benefits it would bring. According to the head of the monetary authority, the development of the state-issued coin may take several years. Thailand’s Central Bank Wants to Better Understand Risks of Central Bank Digital Currency The Bank of Thailand (BOT) intends to take more time to complete the development of its retail central bank digital currency (CBDC). The monetary policy regulator aims to ensure that this version of the national fiat will offer additional....
Switzerland’s largest online bank, Swissquote, is reportedly launching its own cryptocurrency trading platform. The company sees high demand for cryptocurrency trading. “Our compliance and customer service teams were almost overrun by the crypto rush.”
Switzerland’s Largest Online Bank to Launch Its Own Cryptocurrency Trading Platform
The largest online bank in Switzerland, Swissquote, is reportedly preparing to launch its own cryptocurrency trading platform.
Jan De Schepper, chief sales and marketing officer at Swissquote, told Finews.asia....