Asia Banking Research

Apr

The Philippines now has two fintech unicorns

One good unicorn deserves another. Just five months after the Philippines minted its first fintech unicorn – and indeed first private company to hit a US$1 billion valuation – it has produced another. While the first unicorn was Alibaba-backed Mynt, operator of the GCash e-wallet, the latest one is Tencent-backed…

Apr

Asia Banking Research

How are Mynt’s prospects shaping up?

Ant Group and Globe Telecom-backed Mynt was the Philippines’ one and only unicorn until April 12 when Voyager hit the milestone. Mynt reached the status last November after raising US$300 million from global investors including Warburg Pincus and Insight Partners. Mynt made good on its promise to become a “double…

Apr

Asia Banking Research

Australian casinos face allegations of serious money laundering breaches

Australia’s casino gaming sector has long had lax money laundering controls. However, historically, Australian banks have borne the brunt of regulatory ire for money laundering breaches. Both Commonwealth Bank of Australia and Westpac have paid massive fines for such violations in recent years. However, with AUSTRAC launching a probe into…

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Asia Banking Research