Asia Pacific
Banking and finance news from China, Japan, India, Australia, Southeast Asia, and the Pacific
Indonesia's Gojek Launches Bank Mandiri-Backed BNPL Service
Gojek, Southeast Asia's leading super app, has introduced a buy-now-pay-later feature underwritten by state-owned Bank Mandiri, targeting 10 million users with 0% interest loans up to Rp 5 million. The move accelerates neobank expansion in Indonesia's booming digital economy.
Singapore Fintech Fingular Enters Malaysia with Shariah-Compliant Tazee Brand
Singapore-based fintech Fingular has launched Tazee, a Shariah-compliant consumer finance platform in Malaysia using Islamic financing principles to serve underbanked consumers seeking digital lending solutions.
PBOC Strengthens Yuan to 6.9025 Amid Global Tensions
The People's Bank of China set the USD/CNY reference rate at 6.9025, a sharp 169-pip drop from 6.9194, signaling robust yuan appreciation. This move, far exceeding Reuters estimates of 6.8858, underscores Beijing's strategic currency pivot as Middle East risks and oil dynamics intensify.
Indonesia's Bank Launches Digital Rupiah Pilot With GoPay Integration
Bank Indonesia has begun live testing of its central bank digital currency with real transactions through GoPay, marking a watershed moment for CBDC adoption across Southeast Asia.
South Korea's KakaoBank Wins Stablecoin Wallet Approval
KakaoBank has secured regulatory approval to launch stablecoin wallet services, integrating blockchain payments into its app and cementing its lead in Korea's digital asset sector. This move signals accelerating crypto adoption amid tightening oversight.
Mastercard Advances AI Commerce in Hong Kong with HSBC, DBS Partnership
Mastercard has completed its first live authenticated agentic transaction in Hong Kong, demonstrating how artificial intelligence can streamline payments while maintaining security through tokenized credentials and advanced verification systems.
Bank of China Posts 2% Net Profit Rise to CNY 243 Billion in 2025
Bank of China Limited's full-year 2025 net income climbed 2.2% to CNY 243.021 billion despite net interest income dipping amid margin pressures. The state giant showcased asset growth and resilience in a tough Chinese banking landscape.
PBOC Weakens Yuan Fix to 6.9223 Amid Dollar Strength
China's central bank set the USD/CNY reference rate at 6.9223 for Monday, up from 6.9141, signaling tolerance for yuan depreciation pressures. The adjustment highlights Beijing's balancing act between currency stability and global market forces.
BOJ Summary Signals Hawkish Stance on Rate Hike Pace
Japan's central bank showed a hawkish tilt in its March meeting summary, debating faster rate hikes amid Middle East tensions driving oil prices higher. Policymakers warned of inflation risks while keeping rates at 0.75%.
Maybank Pioneers On-Chain MYR-SGD Tokenised Deposits Pilot
Malaysia's Maybank has completed its first on-chain transaction converting tokenised ringgit deposits to Singapore dollars for Yinson Holdings, showcasing near real-time cross-border payments via its permissioned blockchain. The pilot under Bank Negara Malaysia's initiative signals a leap in corp...
Taiwan's SinoPac Bank to Absorb King's Town in Major Merger
Taiwan's Bank SinoPac will merge with King's Town Bank, issuing 1.865 billion shares worth 44.76 billion New Taiwan dollars plus cash to acquire its sibling under parent SinoPac Financial. The deal positions SinoPac as the surviving entity amid a 3% share drop for the holding company.
Philippines' UNO Digital Bank Hits Break-Even in Feb 2026
UNO Digital Bank in the Philippines achieved operating break-even before provisions in February 2026, signaling a shift to sustainability after four years. The lender eyes PHP 10 billion loan book growth and new funding by year-end.