Posts From Johanan Devanesan
Boost Rumoured to Be Raising up to US$100M to Expand Digital Banking Operations
Boost Holdings Sdn. Bhd., a fintech unit of Malaysia’s Axiata Group Bhd., is considering raising between US$50 million to US$100 million in a new funding round, according to anonymous sources familiar with the matter. Boost Holdings is working with a
Read More
Islamic Fintech Finds Promise in Malaysia’s Flourishing Digital Economy
The Islamic digital economy is rapidly expanding in Malaysia, presenting a range of opportunities for businesses and entrepreneurs alike. The country has long been at the forefront of Islamic finance, and its well-established infrastructure and regulatory framework make it an
Read More
Policies, Platforms, and People: BNM Highlights the Key to Malaysia’s Digital Future
Digitalisation has been pegged as a key attribute to spur economic recovery in Malaysia, and is being touted as a major force for continued growth in the latest World Bank Malaysia Economic Monitor report released last month. Titled ‘Expanding Malaysia’s
Read More
5 Key Budget 2023 Highlights Impacting Fintech in Malaysia
The revised Budget 2023, with a theme of ‘Developing Malaysia Madani’ was officially presented last week by Prime Minister Datuk Seri Anwar Ibrahim. The comprehensive budget spanned a wide range of determinations for Malaysia in 2023, with an allocation of
Read More
What Can Entrepreneurs Learn from HelloGold’s Failed Consumer Business
During the cryptocurrency frenzy of the mid- to late-2010s, the HelloGold gold savings app was launched in Malaysia to a curious public. Allowing savings in gold for as low as RM 1, many wondered if this alternative business model would
Read More
HelloGold Shutters Its Consumer Business — Users Have Until 2 Feb to Withdraw Funds
Malaysian-based fintech HelloGold, a savings app that blended gold trading with blockchain technologies, has become the latest casualty of adverse market forces and will be closing down its core business in Malaysia and Thailand. Users are given until 2nd February
Read More
Luno Slashes 35% of Workforce as Crypto Fallout Rages On
Luno was the first digital assets exchange to be approved by the Securities Commission in Malaysia, opening the door for Malaysians to trade and store cryptocurrency assets in a more regulated setting. But as challenging macroeconomic factors adversely impact sectoral
Read More
Gary Yeoh Joins PayNet as CCO After Hops at Fave and Atome
Malaysian payments network and infrastructure provider PayNet has appointed Gary Yeoh as its new Chief Commercial Officer. The new appointment to oversee PayNet’s commercial operations follows an eventful year for Yeoh, a veteran of the Malaysian payments scene who had
Read More
Top 5 Stories That Shaped Malaysia’s Fintech Scene in 2022
2022 was set to be a transformative year for the fintech space in Malaysia. The long-awaited reveal of the five awardees for the first digital banking licences in the country finally took place to kick the year off, and it
Read More