Payments, fintech and the money moves powering Asia's retail economy.
After failing to find buyers, Citi has decided to close its consumer and commercial banking businesses in Russia. Citi will shut down its Russian consumer and commercial banking businesses starting this quarter, it said in a statement Thursday. The closure…
The Monetary Authority Singapore is reeling back on retail access to cryptocurrencies with the latest consideration for more curbs. The MAS is considering tightening crypto rules for retail investors by «adding friction» to mass access, according to managing…
A settlement is near in the US involving banks’ illegal use of personal messenger apps. Those banks involved, including UBS, are facing fines of up to $200 million each, according to media reports. Banks, which for months have been subject to investigations…
The issuer of the world’s largest stablecoin has hired a new auditing company and will publish reserve updates on a monthly basis. Tether Holdings is partnering BDO Italia to conduct regular reviews and attestations of its foreign exchange reserves and will…
The stock settlement cycle is set to be shortened by four hours, enabling investors to receive their share or money on the second morning after a transaction. Thus, from August 29, they will get them at 11-11:30 a.m on the second day (T+2) instead of the…
UBS global wealth management has established a dedicated team to mass millionaires in the region and unveiled its ambition to double the number of clients in the segment for the Greater China market. UBS global wealth management has established a team…
UBS has hired a 25-year veteran as its head of philanthropy services for Hong Kong and the broader Greater China region. Ming Geng joins UBS Global Wealth Management as its head of philanthropy services for Hong Kong and Greater China, according to an…
Rising inflation and a strengthening dollar have driven Latin American countries to become market leaders for crypto giant Binance. Now that we are seeing inflation ramping up worldwide, we are seeing that more and more people are seeking cryptocurrency, like…
Currently, the Forex market is a hot topic all over the world. In today’s difficult times, many people are looking for a market that will not be affected by the financial crisis. It is the Forex market that works in any crisis. Every day, there are…
As cryptocurrencies were booming, the number of cryptocurrency ATMs grew accordingly. Now that Bitcoin & Co are trading well below last year’s highs, the pace of installations is waning. There are currently around 39,000 cryptocurrency ATMs installed…
Japan’s cryptocurrency industry is undergoing a wave of exits to friendlier markets due to the high corporate tax rate. At least 20 firms are choosing to establish their crypto business elsewhere and leave Japan, said Sota Watanabe, chief executive of digital…
The world’s largest asset manager wants to make cryptocurrencies more accessible to its institutional clients. A welcome step for partner Coinbase, which is facing regulatory problems. You could hardly find two more divergent viewpoints on cryptocurrencies.…
Some stores accept payment in cryptocurrency Pi but only partially and require buyers to pay mainly in cash. “I saw a post selling a used iPhone 11 and thought I could buy it with a dozen Pi tokens,” Thanh Son of HCMC said. But it turned out he could only pay…
UBS has named a new head for its Hong Kong asset management unit, succeeding Adolfo Oliete who will relocate to London. Hayden Briscoe has been appointed as UBS Asset Management head for Hong Kong, according to an internal memo, reporting to APAC asset…
The Swiss bank’s cherished hedge fund boutique O’Connor is reshuffling its top management at a time when the industry is seeing significant outflows. UBS is naming Blake Hiltabrand as global head of UBS O’Connor business, and is appointing Bernard (Bernie)…
The Ho Chi Minh Stock Exchange will continue to use the trading system developed by FPT while waiting for a replacement from South Korea, Ministry of Finance and bourse officials said. The system developed by FPT Information System, a subsidiary of the tech…
Weekly Briefing
Tuesday, Thursday and a Saturday Weekly Wrap: the retail stories, numbers and moves that mattered across Asia. Nothing else, and you can unsubscribe in one click.
Read by retail operators, investors and brand teams across Asia.