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Companies
Visa and Tencent Forge Partnership to Expand Digital Remittances for Weixin...
In a groundbreaking announcement at the recent Singapore Fintech Festival 2023, Visa and Tencent Financial Technology, the fintech arm of global internet giant Tencent, declared a strategic partnership to enable Weixin users to receive inbound remittances directly into their digital wallets. This collaboration aims to extend the reach of the Visa Direct network to over one billion Weixin users in Mainland China, a key player in the world's largest inbound remittance markets...
Leaders
Robinhood Challenges Traditional Banks with Aggressive Interest Rates
In a bold move to attract customers disillusioned with traditional banks, Robinhood, renowned for its role in recent major fintech developments, is offering a substantial 5% annual percentage yield (APY) on uninvested cash for its subscription customers. This move positions Robinhood as a formidable contender in the financial landscape, outshining traditional banks and standing among the industry's highest interest rates...
Features
Mastercard Executive Considers Challenges/Opportunities of CBDCs
Ashok Venkateswaran, Mastercard's blockchain and digital assets lead for Asia-Pacific, has expressed skepticism about the widespread adoption of central bank digital currencies (CBDCs) at the recently held Singapore FinTech Festival. Notably, Venkateswaran emphasized that the primary hurdle lies in the difficulty of convincing consumers to shift from traditional forms of money to CBDCs...