FinStep Asia's Web 3.0 TokenBytes: Web 3.0, DeFi and FinTech for Asia (7th Edition)
Syed Musheer Ahmed
FinTech Ballerina | ex-Regulator | Virtual Assets | FinTech | Web 3.0 |
Welcome to the 7th Edition of the FinStep Asia's Web 3.0 Newsletter covering Web 3.0, DeFi and FinTech in Asia.
////// NEWS ON METAVERSE, NFT AND WEB 3.0 ???????? //////
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A host of Space and Military applications of the Metaverse:
We witnessed news from India, China and USA about a variety of military and space applications of the Metaverse. VR/AR can be quite useful for training and simulation in particular, and it comes as no surprise that military enterprises are exploring these applications. Historically many of the day to day technology applications in use have known to be developed by militaries, before we see them deployed for wider use, including some of the early VR applications.
Here are a few highlights of the recent developments on the Metaverse:
Banking Institutions Make a Web 3. 0 Play:
From HSBC's NFT Collectibles: HSBC announced that it has partnered with K11 MUSEA to exhibit NFT works, with over 30 artists and over 200 works of art projects. Among the exhibits, HSBC will also showcase two NFT artworks. HSBC also said that it will give away 1,000 eco-friendly non-traded NFTs to HSBC customers, making it the first retail bank in Hong Kong to give away NFT collectibles.
2. Retail brokerage giant?Fidelity Investments?said on Thursday it opened a virtual eight-story building in the metaverse that offers financial education - and dancing - as it tries to attract more young investors to its platforms. The so-called Fidelity Stack was timed to launch at the same time as the brokerage's Fidelity?metaverse?ETF, which gives investors the opportunity to invest in businesses involved in the metaverse, a network of virtual environments accessed via different devices where users can work, socialize and play. The Fidelity Stack, which was built in Decentraland, a web platform that mimics a metropolitan area, with commerce districts, offices and event spaces, is open to all but is largely aimed at 18-35 year-olds.
3. Standard Chartered Bank (Hong Kong) Limited?today announced a new partnership with The Sandbox, to create innovative experiences for our clients and the community. SCBHK is the first bank to acquire virtual land at The Sandbox metaverse’s Mega City district, a culture hub based on or inspired by Hong Kong talents. Led by SC Ventures, SCBHK will actively engage its clients, partners, staff, and the tech community, to explore co-creation opportunities in this new and exciting space, with the goal of experimenting and building new experiences for clients, as well as bringing the local sports and art communities into the metaverse.
China’s computer giant Lenovo is planning to invest? $15.7 billion? over the next five years on research and development for new technology, including products and services related to the fast-growing metaverse space. Lenovo said in its statement that it will double R&D investment and add 12,000 professionals over the coming three years for cloud-related research. Cloud technology is a potential element of metaverse development. Though the company has done little with the metaverse to date, it could play on existing strengths to develop servers and cloud-related technology for the metaverse
With the belief that physical and virtual experiences will co-exist in future ways of working, Accenture is moving?boldly into the metaverse?to create workplace experiences, where their employees can participate, contribute and feel like they belong, regardless of where they work. Within the Accenture Nth floor metaverse, a virtual campus called One Accenture Park is helping new employees personally connect with the culture and plant the seeds of professional relationships. This type of immersive experience enables new hires to experience “orientation” in a more personal way and meet many more people doing so. This year,?150,000 new hires?are working from the metaverse on their first day at Accenture.
Flipkart Labs will fast-track an in-house?innovation?capability with a vision to propel and shape the future of customer-centric e-commerce in India. This new arm will leverage emerging technologies, incubate cutting-edge ideas, and deliver breakthrough solutions to the ecosystem.??The Innovation Lab will enable Flipkart and its group companies to test exciting new Web3 and Metaverse use-cases with real-world applications, including?NFT-related use-cases, Virtual Immersive Storefronts, Play to Earn, and other?Blockchain?related use-cases. Flipkart Camera, formed after the acquisition of AR/VR startup Scapic in November 2020, has since deployed multiple 3D and Augmented Reality-based immersive shopping experiences and will continue to mature under the newly formed Flipkart Labs umbrella
?Dubai Municipality has set out to create a version of the city in the metaverse. The municipality revealed plans to work with private sector investors and companies to build and develop the metaverse “One Human Reality.” We are looking at augmented reality, social media elements, video games, cryptocurrencies, applications of blockchain technology etc, all within the three dimensional virtual world. “Residents could be joined by friends from other parts of the world in the form of avatars taking a virtual walk through a park in the city. Similarly, people could time travel to historic moments, or experience immersive tours of landmark destinations in the metaverse.” -? Dawood Abdul Rahman Al Hajri, The director-general of Dubai Municipality.
“The next station is – The Sandbox!” Embracing the emerging development of Web3, MTR Corporation announced that it will start its metaverse journey in partnership with The Sandbox, a leading decentralized gaming virtual world and subsidiary of Animoca Brands. As the first global transport operator to join The Sandbox metaverse, the Corporation will build a railway-focused virtual space to create unique, fun and immersive experiences through gamification with the aim of taking customer experiences to a new arena and engaging creatorsto build this new community platform together.
Formerly known as Facebook, Meta’s virtual world could be in for a rude awakening for potential sellers planning to sell virtual products in Horizon Worlds. Meta has announced that it will take a 47.5% cut of all digital asset sales on its Horizon Worlds platform, which includes a hardware platform fee of 30% for sales made through the Meta Quest Store and an additional 17.5% fee for Horizon Worlds. Such a high fee structure, seems to be dissuading content creators from taking part in the experiment.
MORE HEADLINES ON METAVERSE, NFT AND WEB 3.O
/////////////////// NEWS ON DE-FI ???? ///////////////////
Goldman Sachs (GS) has offered its first bitcoin-backed loan in the latest sign that Wall Street is moving further into crypto.?Goldman’s secured lending facility allowed a borrower to use bitcoin (BTC) as collateral for a cash loan. "We recently extended a secured lending facility where we lent fiat collateralized on BTC; BTC being owned by the borrower," a Goldman spokeswoman told CoinDesk in an email. "The interesting piece for us was the structure and the 24-7-365 day risk management." Goldman, which has a dedicated digital assets team, traded its first over-the-counter bitcoin options to?Galaxy Digital last month
Hong Kong insurer?OneDegree?has announced a deal with?Munich Re, one of the world’s largest reinsurers, to offer a new digital asset insurance product.?DeFi's key piece will be?insurance?as we make the bridge from?CeFi?to?HyFi?(Hybrid Finance). In many instances, regulators are mandating insurance for a variety of licensed?digitalassets?usecases. ?OneInfinity, the digital asset insurance product, is targeted toward digital asset trading platforms, custodians, asset managers, and technology providers. Munich Re will provide reinsurance, described as "insurance on insurance companies," that ensures an insurance company remains solvent even in the face of large payouts.
Samsung Asset Management Co. is slated to list a blockchain exchange-traded fund on the Hong Kong Exchange (HKEX) in the first half of this year, the Samsung Group’s investment arm said on Thursday. It is the first ETF that tracks cryptocurrencies and blockchain tech companies to list in Asia.?The listing follows the asset manager’s?acquisition of a 20% stake in US ETF sponsor Amplify Holding Company LLC?in late March. Samsung Asset Management has secured exclusivity to provide Amplify products in Asia through the $30 million deal.?
Germany knocks Singapore off the top spot in the new Coincub crypto-friendly ranking guide for Q1 2022. Germany's acceptance of cryptocurrency and groundbreaking decision to allow crypto investments to form part of its huge domestic savings industry gets it to the top spot along with other key data.? Singapore, formerly at number one in the Q4 ranking for 2021 drops to second place. The USA takes third place,? Australia fourth, and Switzerland rounds out the top five. The Netherlands, France, and Spain have all risen in rank thanks to high numbers of crypto transactions, blockchain start-ups, and positive regulation. Hong Kong also rises to number six from a low spot of 35 last year due to the proliferation of crypto-based courses at leading institutions, high numbers of Bitcoin nodes, and numerous blockchain organisations. Other positive changes in the ranking include Romania and Japan. China is still rooted to the bottom following its widespread ban on trading and mining crypto.
FIS, a publicly-traded $62 billion fintech company that offers everything from payments services to wealth management, has joined up with New York-based infrastructure company Fireblocks to provide its more than 6,000 capital markets clients access to a full suite of crypto trading and lending services. All of FIS’ more than 6,000 capital markets clients will have access to Fireblocks’ offerings, starting with its 1,000+ partners onboarded to its network that allows quick, secure, and cheap transfers across the world 24/7/365. It also offers advanced clients things like staking, lending, and decentralised finance
Gemini’s new credit card offers cryptocurrency rewards for dining, grocery purchases, and shopping. The dollar amounts of the cashback in any transaction are converted back to one of the cryptocurrencies that the platform supports. Gemini has partnered with WebBank for the issuance of the card, and it is operating on the MasterCard network. Users need to link their Gemini account to the card, after which the cashback is deposited directly on Gemini’s exchange. The demand for the card is also off the charts with over 500,000 people already signed up.
CBDCs have emerged amid the rise of thousands of cryptocurrencies, which are quickly disrupting traditional payment systems and pushing central bankers to innovate to compete. CBDCs aim to make payment systems safer, faster, cheaper, and more reliable. Digital money also can give governments in poor nations an alternative to underdeveloped banking systems or help authorities provide lifesaving funds to citizens quickly during a crisis. The International Monetary Fund estimates that about 100 countries have either rolled out CBDCs or are considering them. The U.S. is among those with a project that’s still on the drawing board, though an executive order by President Joe Biden in March sought to prioritize the study of a digital dollar. Six key projects that are up and running, being tested in pilot programs, or close to being rolled out include China’s Digital Yuan (e-CNY), digital euro, Brazil’s Digital Real, Nigeria’s eNaira, Eastern Caribbean’s? DCash and?Marshall Islands’ Sov.
MORE HEADLINES ON DE-FI
/////////////////// REGULATORY NEWS ///////////////////
The?Hong Kong Monetary Authority (HKMA)?today issued a discussion paper titled “e-HKD: A policy and design perspective” (the “Paper”), inviting views from the public and the industry on key policy and design issues for introducing retail central bank digital currency (rCBDC), i.e. e-HKD, in Hong Kong. Submissions can be made on or before 27 May 2022. After announcing the “Fintech 2025” strategy in June 2021, the HKMA started a project to study the prospect of introducing the e-HKD in Hong Kong. The initial findings of the first part of the study, which focused on the technical aspect, were published in October 2021 in the form of a technical whitepaper attached?for comments.?
The Fintech Regulation in Asia Pacific (APAC) report by the Cambridge Centre for Alternative Finance (CCAF) reviews how regulators in APAC have responded to the opportunities and challenges associated with fintech and digital financial services through regulatory efforts and processes, as well as innovation initiatives. The report shows that the COVID-19 pandemic has accelerated the adoption of fintech in APAC and financial regulators have increased the regulatory priority of the sector in response, and launched a number of measures, focusing primarily on ensuring economic relief (50%), cybersecurity (50%), customer onboarding and due diligence (44%), and business continuity (44%). Looking at existing fintech-specific regulations in place, the findings indicate that the digital payments, e-money and remittances sectors have the widest coverage in APAC, followed by equity crowdfunding and peer-to-peer (P2P) lending. Open banking is another emerging trend across APAC. The study found that regulatory frameworks in the anti-money laundering (AML) and data protection verticals are the most prevalent.
The Chinese city of Hangzhou has ruled that marketplaces allowing the trade of non-fungible tokens (NFTs) are responsible for keeping out fakes. In its ruling, the court declared that trading in NFTs is akin to a transfer of property and involves the rights of reproduction and the subsequent dissemination of the enforceability of those rights. Trust in the unique nature of an NFT is the cornerstone of trading in the asset class. Therefore, any flaws in enforcing the copyright of an NFT will damage the trustworthiness of the asset class and undermine the industry’s business model. The development is an important step in the evolution of the burgeoning asset class in China. About 4.56 million NFTs with more than 150 million yuan (US$23 million) were sold in the Middle Kingdom through 2021.
Singapore recently passed regulation that will tighten rules for cryptocurrency service providers based there.The Financial Services and Markets Bill requires all cryptocurrency firms based in Singapore to be licensed. This requirement now applies even to firms that exclusively serve offshore clients. The development could serve as an important playbook for countries looking to attract cryptocurrency firms and eventually profit from them through taxes. Singapore was once the go-to destination for cryptocurrency firms fleeing crypto crackdowns in China. But the exponential growth and “crypto hub” image came with increased global scrutiny that prompted the MAS to step in with newer regulations, experts said.?Already, Singapore-based cryptocurrency exchanges Crypto.com and Bybit have announced they will be setting up offices in Dubai, as the industry continues its migration towards the UAE.? Government decisions to restrict the advertising of cryptocurrency services by VASPs outside of their websites, and a clampdown on Bitcoin ATMs, pushed the city state down to second place, according to the latest Coincub Global Crypto Ranking research.
/////////////////// NEWS ON FINTECH ///////////////////
Bank Negara Malaysia (BNM) announced the five successful applicants for the digital bank licences as approved by the Minister of Finance Malaysia.
A. The following applicants are to be licensed under the Financial Services Act 2013 (FSA):
B. The following applicants are to be licensed under the Islamic Financial Services Act 2013 (IFSA):
Following this announcement, the successful applicants will undergo a period of operational readiness that will be validated by BNM through an audit before they can commence operations. This process may take between 12 to 24 months.
Bengaluru-based neobanking startup Open becomes the country’s 100th unicorn after raising $50 Mn from IIFL. The round also saw participation from its existing investors including Singapore’s sovereign wealth fund Temasek, US hedge fund Tiger Global, and 3one4 Capital.? The latest funding helped Open’s valuation soar past the $1 Bn mark. Open caters to over 2.3 Mn SMEs and is processing $30 Bn in annualised transaction.? Open will be launching three products – Open Flo ( Revenue-based Financing), Open Settl (Early Settlement) and Open Capital (Working Capital Loans) targeting disbursement of $1 Bn in 12 months
Side Note: India's 100 unicorns have raised a total of $90 Bn in funding to date and are valued at around $333 Bn combined. Fintech is only the second startup sector to cross the 20 unicorns mark, after ecommerce which leads with 23 unicorn startups. Enterprisetech is on course to join this club next, with 17 unicorns from the sector.
Over the coming years, the digital lending landscape in India will continue to advance at an exponential growth trajectory. It is forecasted that the digital lending market may host up to 48% of all lending transactions by 2023. Given India’s rising FinTech ecosystem, a rigorous yet nurturing regulatory framework and evolving partnerships between FinTech startups and banks, the digital lending market will further grow. With loan processes becoming more optimised than ever, reduction in loan disbursal time and robust security systems, digital lending can allow companies to bring more people under the financial inclusion umbrella. The majority of the urban populace is reaping the benefits of digital lending and with continued and consistent efforts the rural population too can come into the ambit of formal credit.
Australia Treasury and the Monetary Authority of Singapore (MAS) jointly announced that they have signed the Australia-Singapore Fintech Bridge Agreement. The commencement of discussions to develop the Fintech Bridge was announced in June 2021, when Australian Prime Minister Scott Morrison met with Singapore Prime Minister Lee Hsien Loong. The agreement follows the signing of the Australia-Singapore DEA in 2020. The Australia-Singapore Fintech Bridge sets out a framework for both authorities to deepen bilateral and multilateral cooperation on fintech, to facilitate trade, investment and ecosystem development in the fintech sector.
A new study by IT security company Entrust shows that compared to other regions, Southeast Asian customers were the most fervent users of mobile banking. Entrust, which polled more than 1,300 banking customers from nine countries, found that usage of mobile banking through apps was the highest in Singapore and Indonesia where 65% and 71% of respondents, respectively, indicated using these tools the most to manage their finances and conduct transactions. These changing customer preferences come at a time when Southeast Asia is preparing to enter a new era of finance, with digital banks expected to bring the region’s large population of unbanked into the formal financial system.
Thunes, a global cross-border payments company, is committing to generating positive change through a newly launched ESG programme: Turning Transactions into Actions. As part of the programme, Thunes has partnered with Handprint, a SaaS company that helps businesses to drive sustainable change and make a positive impact on the planet.Thunes partnership with Handprint is anchored in three fundamental pillars— The first is Thunes’ commitment to invest in reforestation projects across the world, as a sustained effort over the course of the years; Secondly, Thunes will support Handprint’s NGO payouts; and lastly, Thunes will aim to build in regeneration as part of various payment experiences available to Thunes customers, aiming to be a multiplier to impact.
Read more about Musheer Ahmed’s conversation with Simon JD Schillebeeckx, the Founder and Chief Strategy Officer of Handprint, about how FinTechs can increasingly contribute to make a positive impact on climate change.
MORE HEADLINES ON FINTECH
//////////////// NFT MARKETPLACE STARTUPS TO EXPLORE /////////////
SuperRare is an NFT marketplace for all the digital creators out there. The site sells videos, art, as well as 3D images. However, these artworks can be bought only through Ethereum. SuperRare also announced its native token that goes by the same name and was launched on the Ethereum blockchain. These tokens shall be utilised to find as well as curate new talent for the marketplace. SuperRare NFTs are also available on OpenSea.
LooksRare is a relatively new NFT marketplace launched in January 2022. However, this new kid on the block has been making some serious noise. Within 10 days of its launch, it had already crossed the trading volume of OpenSea. It is a community-first NFT marketplace where the users are rewarded for participating. There are a variety of NFT collections available on the platform. Users can not just list NFTs on this platform but can also list them elsewhere. However, the users shall not receive rewards for trading NFTs if traded on a different platform than LooksRare.
Axie Marketplace is the online shopping place for all the in-game items for Axie Infinity. Axies are mythical creatures within the game that are bought, trained, and then fought against other players to earn rewards. Axie Marketplace is the online portal to buy axies as well as an entire land along with other items to use within the game. These all in-game items are nothing but NFTs. The native token of the game, Axie shards (AXS) are built on the Ethereum blockchain. These tokens can be easily bought and sold in various crypto exchanges like CoinDCX, India’s simplest and safest crypto exchange, or on other NFT marketplaces.
Foundation is a collection of different kinds of NFTs. Foundation is another NFT marketplace built on the Ethereum blockchain. It was designed for a simple and no-fancy way to bid for digital art. One can buy and sell on this platform using Ethereum. This is also a relatively new NFT marketplace but has sold more than $100 million worth of NFTs. The platform invites digital artists and buyers need to simply buy their choice of NFT using a crypto wallet funded by Ethereum. However, experts do not recommend Foundation as the first stop to creating your own NFTs. However, the marketplace does have plenty of artwork to buy from.
Theta Drop is a blockchain platform built for the decentralized distribution of video and TV on the internet. The NFT marketplace Theta Drop made its debut in 2021 with the World Poker Tour's digital collectibles. The World Poker Tour was an early adopter of ThetaTV and uses the platform to stream content. Theta utilizes its own blockchain technology. To participate in the Theta Drop NFT marketplace, you'll need to purchase Theta Token. Various crypto exchanges such as Binance support Theta, and the tokens and NFTs purchased with them can be stored in a crypto wallet, as well as in Theta's own crypto wallet app.?
/////////////////// INDUSTRY REPORTS & FEATURES ///////////////////
// REPORT 1 // A Deep Dive into the BNPL Ecosystem
Read the report on ‘A Deep Dive into the buynowpaylater (BNPL) Ecosystem by the excellent team at MEDICI Global. In recent years, innovative modes of payments and lending have taken the FinTech industry by storm. For the past 2–3 years, especially after the onset of COVID-19, Buy Now, Pay Later (BNPL)—a new type of financial arrangement—has been catching up with retail consumers.
Read more and access the Report here>>
// REPORT 2 // PwC Global CBDC Index and Stablecoin Overview 2022
PwC’s 2022 CBDC Global Index shows which central banks are in the lead. It is estimated that more than 80% of central banks are considering launching a central bank digital currency (CBDC) or have already done so.1 The 2022 PwC CBDC Global Index analyzes and ranks the leading retail and wholesale CBDC projects. The Index evaluates the current stage of CBDC project development, also taking into account central bank opinion and public interest.
Read more and access the Report here>>
// REPORT 3 // Demystifying Crypto: Shedding light on the adoption of digital currencies for payments in 2022
As cryptocurrencies have risen in demand, they've shifted from simply a store of value, to a form of payment that customers say they would like to use for everyday goods and services. Checkout.com surveyed 3,000 businesses and 30,000 consumers worldwide across 11 countries to help look more closely at the use of cryptocurrency in payments today and the key implications of this shift for merchant businesses.
Read more and access the Report here>>
// REPORT 4 // Central bank digital currencies: a new tool in the financial inclusion toolkit?
Central bank digital currencies: a new tool in the financial inclusion toolkit? - Bank for International Settlements – BIS and The World Bank FSI insights by Raphael Auer, Holti Banka, PhD, Nana Yaa Boakye-Adjei, Ahmed Faragallah, Jon Frost, Harish Natarajan and Jermy Prenio drawing from on interviews with nine central banks with advanced work on CBDCs and financial inclusion, as well as ongoing research and policy work at the BIS and World Bank. Central banks are considering how retail CBDCs may help support financial inclusion. While they are not a magic bullet, central banks see CBDC as a further tool to promote financial inclusion if this goal features prominently in the design from the get-go. Together, these features can address a range of existing barriers to financial inclusion.
Read more and access the Report here>>
// REPORT 5 // WealthTech Views Report on DLT & Blockchain 2022
The WealthTech Views Report on DLT & Blockchain 2022 by The Wealth Mosaic in partnership with Dr. Efi Pylarinou. A collection of industry viewpoints focused on DLT & Blockchain and how they are shaping the future of wealth & asset management - featuring contributions from Aave, ALT-AVE, Arab Bank Switzerland, Copper.co, CryptoIndexSeries, DeFi Technologies, FiCAS, FundsDLT, Global Digital Finance (GDF), Metaco and PwC.
Read more and access the Report here>>
// REPORT 6 // CBDCs in Emerging Market Economies
A comprehensive report (214pp) by Bank for International Settlements – BIS. showcasing where 26 Central Banks from Emerging Markets stand in their central bank digital currency journey. This includes papers from Algeria, India, Russia, Argentina, Indonesia, Saudi Arabia, Brazil, Israel, Singapore, Chile, South Korea, South Africa, China, Malaysia, Thailand, Colombia, Mexico, Turkey, Czech Republic, Peru, United Arab Emirates, Hong Kong SAR, Philippines, Vietnam, Hungary and Poland. Highlights – All 26 central banks participating in this meeting are active in CBDC research; Several have progressed to the pilot or proof-of-concept stage (e.g. Hong Kong SAR, Saudi Arabia, Thailand, the United Arab Emirates (UAE), A few are close to launching (e.g. China’s eCNY); while some do not see a pressing need for a CBDC in the near future (e.g. Poland, Singapore).
Read more and access the Report here>>
// REPORT 7 // Q1 2022 Quarterly FinTech Insights
Financial Technology Partners / FT Partners Research's Q1 2022 FinTech Insights report, providing review of global FinTech deal activity with analysis across private company financings, IPOs, M&A and SPAC transactions. Q1 2022 represented the most active quarter ever for private company FinTech financing activity with nearly 1,100 capital raises. Total volume of $37.4 billion represented the third largest level ever just behind Q2 2021 ($39.6 billion) and Q3 2021 ($38 billion).? In Q1 2022, 40 FinTech companies reached unicorn valuations of $1 billion or more and five reached Decacorn valuations of $10 billion or more.
Read more and access the Report here>>
// REPORT 8 // Cryptos on the Rise 2022: A complex regulatory future emerges
Special Report: Cryptos on the rise 2022 by Thomson Reuters. Cryptos’ potential to transform the traditional financial system means the associated challenges are attracting considerable regulatory attention. The focus is twofold: cryptos’ possible impact on financial stability and the need to protect vulnerable customers. The principal challenge is the need for an internationally coherent policy approach, including definitions and jurisdictional perimeters, and in terms of exchanges, prevention of market manipulation and systemic risks. Lending and payment risks, banking, payments and anti money laundering (AML) risks, tax policy and tax evasion risks, securities fraud and scams, together with cyber security, hacking and privacy risk will all need to be addressed. The 2022 special report expands beyond cryptocurrencies such as bitcoin. Considering the need to develop a regulatory framework, the report investigates other crypto-related instruments, such as central bank digital currencies (CBDCs), non-fungible tokens (NFTs) and stablecoins, and highlights policy work in key countries.
Read more and access the Report here>>
// REPORT 9// India Insurtech Landscape and Trends” by?BCG?and?India Insurtech Association?
“India Insurtech Landscape and Trends” by?Boston Consulting Group (BCG)?and?India Insurtech Association?which identifies the current trends in the industry, based on perspectives gathered from multiple stakeholders including insurers, Insurtechs and key distribution players.
Read more and access the Report here>>
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Musheer Ahmed's Profile: Musheer is the Founder & Managing Director of FinStep Asia, which is building Asia’s next generation of Businesses. FinStep Asia enables Fintech and Blockchain firms in their innovation journey through venture building, growth advisory, bespoke research and curated content creation.?
With over 16 years of experience in Trading and FinTech, Musheer has been one of the key contributors in building the Fintech ecosystem in Hong Kong as the co-founder and inaugural General Manager of the Fintech Association of Hong Kong. He has worked closely with several regulators and government bodies on fintech and digital economy policy, providing advisory and delivering workshops on a range of topics.
He is on several advisory boards and a mentor/advisor to several startups, while a regular guest lecturer at many universities in Hong Kong and Singapore. He is cofounder of IndiaTech HK, a platform bridging Indian & Chinese tech ecosystem via Hong Kong and is also Board Member & Co-lead Islamic Fintech, Global Impact Fintech Forum (GIFT), a leading global body created by global Fintech champions from 60+ countries. He is a regular contributor and author of articles on Fintech, Digital Banking, Islamic Fintech and Investment Banking and has been quoted in various media channels, including CNBC, Bloomberg, SCMP, Financial Times, S&P, Asian Investor, Economic Times, etc.
Kerry Holdings Professor in Law at The University of Hong Kong
2 年Ajay Shamdasani HKU FinTech
FinTech Relationship Professional, Business Advisor, Community Bank supporter, SME/B funding evangelist, Author and Speaker
2 年Eduardo Litonjua