Kazakhstan Proposes the Creation of a Crypto Bank
Weekly APAC news up to Wednesday, 2nd of April 2025.
👀 NEWS HIGHLIGHT
Digital lending SaaS platform Biz2X, which has a current workforce of about 1,000, will hire over 200 professionals across AI, data science, engineering, product management, and technology in India in the next financial year.
Biz2X is a turnkey global SaaS platform that enables financial institutions to provide a customised online lending experience for their small and mid-size business customers.
📊 INFOGRAPHIC
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🧋 REGIONAL HIGHLIGHTS
⭐️ UAE set to launch Digital Dirham CBDC this year.
⭐️ Kazakhstan proposes the creation of a crypto bank.
⭐️ Indian investment tech startup Smallcase bags $50m series D.
⭐️ Axis Bank launches 24/7 global USD clearing through Kinexys by J.P. Morgan.
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AUSTRALIA 🇦🇺
Bankwest introduces ‘Just Enough Bank’, with the platform promising to deliver uncomplicated and genuinely useful experiences for customers, aligning with Bankwest’s national growth ambitions. The campaign targets busy Australians who are seeking a simple, user-friendly banking experience.
Revolut launches local EUR accounts for Australians. This new offering allows customers to establish local EUR accounts, facilitating swift payments and aiming to include more currencies in the future. The accounts enable them to operate across various markets. Meanwhile, Revolut has launched its first salary account in Spain, offering up to 2.27% annual return for users who deposit a minimum of €1,200 per month.
UNITED ARAB EMIRATES 🇦🇪
Bitpanda secures full licence approval from the Virtual Assets Regulatory Authority (VARA), unlocking new growth opportunities in the UAE. The licence will allow it to make its virtual assets platform available to investors, including access to over 500 virtual assets, the most extensive virtual assets offering available on the market.
THAILAND 🇹🇭
Thai SEC files criminal complaint against OKX, nine others for unlicensed exchange. OKX allegedly operated without a license, violating Section 26 of the Decree and facing penalties under Section 66. The complaint begins a formal legal process involving investigation, prosecution, and potential court proceedings.
INDIA 🇮🇳
Lucknow Municipal Corporation has introduced a new facility to receive property tax bills on WhatsApp. Now, property owners can get their property tax details and a direct payment link through the official WhatsApp number of LMC. By clicking the "Pay Now" link, they can access their proper details and choose a payment method.
FinTech platform Abound for Indian-Americans bags $14m seed funding. The funding will support its product expansion, technology infrastructure, and growth in product, engineering, and marketing teams. The firm plans to develop financial solutions for Indian Americans, including remittances and cross-border financial services.
OneStack raises Series A round from Pentathlon Ventures, 100Unicorns and Venture Catalysts, amongst others. With the new funding, OneStack aims to expand its presence into South and East India, targeting an additional 200+ banks to achieve a 20% pan-India market share.
Indian FinTech startup axiTrust nets $2.6m seed funding. The company plans to integrate its platform with MSME systems for real-time insights and automation, and will use the new funds for hiring, app development, and marketing.