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Fnality raises USD 95 million in a Goldman-led funding round

News | Cryptocurrencies | 15 Nov 2023

UK-based blockchain-based wholesale payments firm Fnality has raised USD 95 million in a funding round led by Goldman Sachs.

funding, investment, blockchain, payments

Japan abandons CBDC project

News | Cryptocurrencies | 03 Aug 2022

The Bank of Japan (BoJ) has announced it will be abandoning its planned host of central bank digital currency (CBDC) services due to a reported lack of public interest.

CBDC, central bank, digital currency, crypto, blockchain

Japan prepares to issue CBDC by 2023

News | Cryptocurrencies | 24 Dec 2020

Japan has been preparing for the issuance of digital currency in both the public and private sectors following swift moves by China and other countries to do the same, according to Japan Times.

CBDC, Japan, MUFG Bank, Sumitomo Mitsui Banking Corp, Mizuho Bank, digital currency, virtual currency, banks, Central banks

SYNQA secures USD 80 mln in Series C

News | Cryptocurrencies | 23 Jun 2020

Thailand-based SYNQA, the parent company of OMG Network, has raised USD 80 million in a Series C funding round led by Siam Commercial Bank.

OMG Network, SYNQA, Thailand, Siam Commercial Bank, Japan, Toyota Financial Services, Sumitomo Mitsui Banking, SMBC Venture Capital, Aioi Nissay Dowa Insurance

Digital banking startup Kyash raises USD 45 mln

News | Online & Mobile Banking | 31 Mar 2020

Kyash, a Japan-based digital banking startup, has raised USD 45 million from investors at a time the coronavirus outbreak threatens to dry up venture capital funding.

Kyash, digital banking, funding, Japan

Citigroup raises investment in ethereum-based trade finance startup Komgo

News | E-invoicing, SCF & E-procurement | 23 Mar 2020

US-based bank Citi has upped its investment in the Ethereum-based decentralised trade financing startup Komgo.

komgo, Citi, Citi bank, Citi Group, Ethereum, blockchain trade finance, trade finance, startup, banking, US, United States

ICC, the Singapore Government, and large companies form alliance for digitalisation of global trade

News | E-invoicing, SCF & E-procurement | 22 Jan 2020

ICC, the Singapore Government, and large companies from key industries have signed a historic cooperation agreement to facilitate and accelerate adoption of digital technologies in trade and commerce.

trade, commerce, APRIL, DBS Bank, Marubeni Corporation, MasterCard, Mitsubishi Corporation, Mitsui, Mizuho Bank, MUFG Bank

Mico-coverage insurance consortium Beyond seeks Singapore digital bank licence

News | Online & Mobile Banking | 06 Jan 2020

Micro-coverage insurance consortium led by V3 Group and contactless card operator EZ-Link has announced applying for digital banking licence in Singapore.

Beyond, Beyond Consortium, The Monetary Authority of Singapore, Singapore, V3 Group, EZ-Link, Singapore Business Federation, Far East Organisation, Mitsui Sumitomo Insurance, Heliconia Capital Manager, investment, SME funding, insurance service, insurance

SMBC completes blockchain trade finance test

News | E-invoicing, SCF & E-procurement | 22 Oct 2019

Japan-based Sumitomo Mitsui Banking Corporation {SMBC) is set to begin utilising R3’s Marco Polo trade finance blockchain on a commercial basis by the end of 2019.

Sumitomo Mitsui Banking Corporation, SMBC, Japan, trade finance pilot, Asia, APAC, Mitsui & Co, Bangkok Bank, R3, Marco Polo, Trade Finance Network, blockchain

Exigers DDIQ selected by SMBC as its AI AML tool

News | Digital Identity, Security & Online Fraud | 20 Aug 2019

Exiger has revealed its agreement with global financial institution Sumitomo Mitsui Banking Corporation Europe (SMBC) to leverage Exiger\s DDIQ.

SMBC, Exiger, DDIQ, AI, AML, EMEA, financial institution, AI, KYC, onboarding, compliance, transactions , due diligence

Brazilian bank Brodesco joins Marco Polo trade finance network

News | E-invoicing, SCF & E-procurement | 15 May 2019

Brazil-based bank Banco Bradesco has announced joining R3’s Marco Polo blockchain network for trade finance.

Brodesco, Banco Pradesco, Marco Polo, R3, Corda, Trade Finance Network, blockchain, Brazil, South America, distributed ledger, trade finance

Asian Development Bank expands partnership with SMBC for Asia trade

News | E-invoicing, SCF & E-procurement | 15 Apr 2019

The Asian Development Bank (ADB) and Sumitomo Mitsui Banking Corporation (SMBC) have signed an agreement to promote over USD 100 million of trade annually across Asia.

Asian Development Bank, Sumitomo Mitsui Banking Corporation, Asia, trade finance, ADB, SMBC, TFP

Fourteen financial institutions launch drive to develop multi-trillion dollar trade as an asset class

News | E-invoicing, SCF & E-procurement | 01 Apr 2019

Fourteen global financial institutions have launched a drive to use technology and standardisation for the wider distribution of trade finance assets.

banks, financial institution, trade finance, forfaiting, finance, standardisation, payments

IBM rolls out cross-border payments initiative based on blockchain

News | Online Payments | 18 Oct 2017

IBM has joined forces with a non-profit Stellar.org and regional services company KlickEx Group to launch in the Asia Pacific region a cross-border payments initiative based on blockchain.

IBM, blockchain, cross border payments, Asia Pacific, Stellar, KlickEx Group, clearing, settlement

Sumitomo Mitsui, MUFG join Ripples Japanese banks consortium

News | Cryptocurrencies | 11 Jul 2017

Ripple, a US-based provider of financial settlement solutions, has added two new members to its Japanese banks consortium, Sumitomo Mitsui and MUFG.

Ripple, blockchain, Japanese banks consortium, Sumitomo Mitsui, MUFG, settlement, money transfers, cross-border payments, Japan, Asia

SWIFT gpi blockchain PoC has new 22 members

News | Online Payments | 07 Jul 2017

SWIFT has announced that 22 additional global banks have joined its blockchain proof of concept (PoC).

SWIFT, blockchain, innovation, banking, nostro accounts, vostro accounts, banks, Hyperledger Fabric, cross border payments

Japanese FI to streamline international transaction agreements with DLT

News | Cryptocurrencies | 21 Jun 2017

A group of Japanese financial companies has tested a prototype that uses distributed ledger technology (DLT) to streamline international transaction agreements.

R3, Corda, blockchain, Japan, Asia, Nomura Holdings, Daiwa Securities, Mizuho Financial Group, Sumitomo Mitsui Banking Corporation, DLT, OTC, derivatives transactions

CCRManager rolls out supply chain platform for banks

News | E-invoicing, SCF & E-procurement | 18 May 2017

CCRManager, a Singapore-based fintech company, has launched an online platform for the distribution of trade finance, supply chain finance and working capital assets for banks.

CCRManager, fintech, supply chain, trade, product launch, banks, Singapore, Asia

bitFlyer gets funding from large Japanese banks

News | Cryptocurrencies | 15 Feb 2017

bitFlyer, a Japanese Bitcoin exchange and blockchain services company, has revealed fresh funding from Mizuho Capital and SMBC Venture Capital.

bitFlyer, Bitcoin, blockchain, banking, innovation, Bitcoin Exchange, Japan, SMBC Venture Capital, Asia, money transfers, Mizuho Capital, cryptocurrency

NEC partners Sumitomo Mitsui to trial cashless payments using biometrics

News | Digital Identity, Security & Online Fraud | 13 Dec 2016

NEC, a Japanese multinational provider of information technology services and products, has teamed up with Sumitomo Mitsui Financial Group to trial cashless payment services utilizing NEC facial recognition technology.

NEC, cashless payment, mobile payments, biometrics, face recognition, NeoFace, Asia, Japan