Latest: Fintech News
SWIFT will lose its credibility and influence and gradually decline in importance if it’s used as a sanctions tool, Xinhua says, while the digital yuan has a big future, another outlet said
Toyota Motor will shut its plants in Japan on Tuesday after Kojima, a major supplier of parts, was hit by a suspected cyberattack
Oil giant BP says it will exit its Rosneft stake worth $25 billion. Meanwhile, leases on over half the 980 jets in Russia may be severed by foreign firms because of sanctions.
China's Foreign Ministry on Monday voiced opposition to use of sanctions, but Japan and Korea backed the move to block some Russian banks from the SWIFT international payments system
Chinese payment-related stocks jumped on Monday as investors wagered that kicking banks out of the SWIFT system would benefit China's own cross-border payment system, CIPS
SWIFT sanctions against Russia seen as an event that will curb use of the dollar. Shares of payment firms such as Newland Digital Tech, Lakala Payment and Client Service rose strongly
President of Huawei's Western Europe consumer business group William Tian said the products would appeal to people who increasingly work from home
Zip said on Monday it was offering 0.98 Zip shares for every Sezzle share, which represented a 22% premium to Sezzle’s closing price
Singapore Computer Emergency Response Team, or SingCert, advised companies to strengthen vigilance and online defences to protect themselves from cyber attacks
Taipei has moved reassure manufacturing chiefs that its semiconductor production lines won’t be affected by Russia’s invasion of Ukraine
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With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors
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PaymentsCan China Take Place of SWIFT System? Analysts Say ‘No’There is no global payment system that is strong enough to act as an alternative to SWIFT and enable Russia to evade sanctions
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MarketsChina Becomes World’s Second-Biggest Bitcoin Mining HubThe Bitcoin mining ban in China last year had collapsed its crypto markets. Despite that, the country has reemerged as a major bitcoin mining hub, according to research by the UK's University of Cambridge.
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Market InsightsHere’s How China Can Win the Tech War With USAThe Chinese government is doubling down on incentives for innovation, which it believes to be the cornerstone of its future growth and international position.
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Fintech InsightsAsia Becomes the Epicentre of Global NFTsAsia is the frontrunner in the NFTs craze with Central and Southeast Asia accounting for 35% of the $22 billion in global trade
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