Zilingo Philippines lays off entire team
A source close to the situation says that the remaining team consists of 19 people, all of whom are affected; Before its recent challenges, the company employed between 35 to 40 people in the country.
Japanese VC launches US$82M fund for ESG, fintech startups in Indo-Pacific region
GMO VenturePartners says its new GMO Fintech Fund 7 LP aims to create more than 10 unicorns by 2030; Since 2005, GMO VenturePartners has managed as many as six funds totalling nearly US$123M.
SGX taps NYSE to make dual listings to both exchanges easier
The dual listings can benefit companies that want to tap into pools of capital outside their home regions; The SGX and NYSE will also partner in developing new products and services to support listed companies and investor communities.
Crypto lender Vauld owes US$363M to retail investors after halting withdrawals
Vauld owes a total of US$125M to its 20 largest unsecured creditors; Three creditors are owed more than US$10M each, with the largest owed US$34M; Vauld suspended client withdrawals on July 4 as it fought to stave off insolvency.
Crypto exchange KuCoin secures US$10M funding from SIG
KuCoin said that it will collaborate with SIG in incubating blockchain startups and building an ecosystem for KuCoin Shares and the KuCoin Community Chain, a public blockchain developed by the crypto exchange’s community.
Singapore to expand scope of crypto regulation
This is in line with global efforts to lower risk for crypto investors after a series of failures hurt the industry;
The consultation will take place in either September or October, with the new regulations possibly including a clampdown on retail investors’ access to crypto.
Asian crypto finance platform XLD Finance raises US$13M
Lead investors are Dragonfly Capital and Infinity Ventures Crypto; The platform builds infrastructure for Web3 and crypto projects to bridge them to traditional finance; Its products include crypto-based payments, disbursements, and crypto-to-fiat offramp APIs.
Singapore’s crypto exchange halts withdrawals
The firm attributed the move to external factors such as volatile market conditions and the resulting financial difficulties of key business partners; This news comes after Coinbase said in June that it would be making strategic investments in Zipmex.
Thai SEC asks Zipmex to clarify withdrawal freeze
The regulator has asked whether Zipmex used Celsius or Babel Finance in connection to its ZipUp programme;
Several crypto platforms have also frozen withdrawals since the June market downturn, including Celsius, Babel Finance and Voyager Digital.
Tencent to pull plug on NFT platform Huanhe
Huanhe reportedly started out as NFT trading platform; In October 2021, the platform replaced mentions of NFT with “digital collection” – similar to the switch made by several Chinese tech firms, Pandaily reported.
Singapore stablecoin builder Bluejay Finance secures US$2.9M funding
Investors include Zee Prime Capital, C2 Ventures, and Stake Capital Group; The fintech firm will use the funds for team development and stablecoin deployment, focusing on Asian stablecoins pegged to local currencies.
Hong Kong food firm DayDayCook joins Brinc to invest US$10M in alt-meat startups
The programme aims to finance 45 foodtech startups developing sustainable and animal-free products in Greater China and Asia; Brinc also announced a US$500K pre-IPO investment in DayDayCook.
East Ventures joins edutech firm Creative Galileo’s US$7.5M Series A
Creative Galileo caters to students aged three to 10 with its early-learning platform; With 7M downloads and 700K MAUs; Moving ahead, the firm plans to expand to Southeast Asia.
Indonesian property rental startup Mamikos lays off employees
The company did not specify how many employees or which divisions were affected; However, Mamikos says that the company had to restructure to ensure a healthier and more sustainable structure; Before the layoffs, Mamikos had 400 employees.
Indonesian fintech SaaS firm Djoin bags US$1M in seed money
Djoin provides solutions for local microfinance companies and cooperatives; Its offerings help clients manage their employees, process payments, and collect loan instalments from their users.
Singapore robotics startup Botsync nets pre-Series A
Investors include Seeds Capital, Venture Catalysts, and AngelCentral; Botsync specializes in building industrial autonomous mobile robots for manufacturing factories and warehouses; It currently has operations in India, Singapore, Thailand, and Malaysia.
Indonesian blue-collar jobs platform Pintarnya raises US$8M
Investors include Vertex Ventures SEA & India and East Ventures; Pintarnya helps blue-collar workers to find job opportunities based on their skill sets and location; It also works with employers to select the right applicants for their needs.
Thai smart-city startup receives UN sustainability honors
5G Catalyst Technologies has been selected as a global excellence leader for the United Nations Sustainable Development Goals, making it the first Thai startup to receive the honor.
Vietnam rural-focused banking firm MFast nets US$2.5M
Investors include Ascend Vietnam Ventures, Wavemaker Partners, Do Ventures, and JAFCO Asia; MFast’s agents introduce and distribute financial products to customers living in rural Vietnam by connecting them with reputable financial institutions.
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The post Ecosystem Roundup: SG to expand scope of crypto regulation, Zilingo PH lays off entire team, Vauld owes US$363M to retail investors appeared first on e27.