Southeast Asian financial institutions turn to the Ethereum blockchain
Is Ethereum the blockchain of choice for financial institutions in Southeast Asia, or will companies seek alternatives due to limitations? Blockchain innovation is surging throughout Southeast Asia, as the region is home to a number of fintech firms and global crypto companies. In particular, Singapore has become one of the world’s most crypto-friendly countries. This was recently highlighted in a report conducted by crypto exchange Gemini, which found that 67% of 4,348 respondents currently own crypto. The report further noted that Ether (ETH) is the most popular cryptocurrency in the....
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Ripple's expansion plans haven't been halted by an ongoing XRP securities lawsuit, as it appoints a new managing director for the Southeast Asia region. Ripple has appointed a former Uber executive to lead its expansion into the Southeast Asia region, the firm announced on March 18. Brooks Entwistle joins Ripple after serving as Uber’s chief business officer, leading the firm’s growth and navigating regulatory issues throughout the Asia Pacific. The new managing director of Ripple’s Southeast Asia wing had previously spent two decades at Goldman Sachs, operating as partner and chairman in....
Few years down the line we might see the whole banking and financial sector powered by blockchain technology. Many banks and financial institutions in the Western and Asian regions are already invested in it. They are working on integrating the decentralized distributed ledger technology into their everyday operations. While the Western institutions are trying to fit Bitcoin technology to suit the needs of a developed economy, Asian banking, and fintech institutions are working on creating/modifying the blockchain technology to suit the needs of developing and emerging economies. But there....
New York-based R3, the blockchain startup heading the prominent private banking blockchain consortium has now added Hong Kong-based life insurance group AIA. Blockchain startup R3 is continuing its foray to recruit Asian financial institutions with the addition of AIA Group, a Hong Kong-based life insurance group to its roster of global members. The AIA Group, the largest publicly listed independent pan-Asian life insurance group will collaborate with 50 of the world’s largest financial institutions, including banks, to develop blockchain-based commercial applications for the financial....
The Southeast Asian nation of Laos changed its official policy, authorizing six companies to trade and mine Bitcoin while the government begins to draft regulations about its use.
A two-day conference will see notable Asian banking giants along with other participants and developers of blockchain technology outline their use cases for the innovation. Singapore will host the ‘Blockchain for Finance Conference, Asia Pacific’ with a number of significant financial institutions participating in the event. The conference, held on June 20-21, will see banks, credit unions and building societies, among other companies from various industries to discuss and evaluate the use-cases and proof-of-concept prototypes of blockchain-based applications. Hosted by the FinTech....