The Hanoitimes - Vietnam’s rapidly evolving fintech sector has been largely driven the country’s young, digitally-savvy population, the high mobile phone and Internet penetration rate and the government’s push to curb cash usage and promote digital payments. 67 fintech companies compete for Vietnam’s US$4.4-billion market Vietnam strives to become Southeast Asia’s fintech center Vietnam to set foreign ownership limit in fintech sector Vietnam’s fintech becomes potential targets for international groups Singapore-based Fintech News has listed five Vietnamese startups which were the most well-funded in 2018, at a time when fintech development is accelerating in Vietnam with companies in the sector attracting US$117 million, the largest funding among Vietnamese startups in 2018. Source: Topica Founder Institute. Fintech surpassed e-commerce at US$104 million and other sectors, according to funding data by local … [Read more...] about Vietnam’s top 5 most-funded fintechs in2 018
Ico launch platform
Vietnam c.bank agrees to suspend importing cryptocurrency mining rigs
The Hanoitimes - Cryptocurrency mining rigs could be exploited for launching new currencies or a new form of payment, the Vietnamese Ministry of Finance (MoF) warned. The State Bank of Vietnam (SBV) has said it agreed with the proposal of the Ministry of Industry and Trade (MoIT) to suspend importing cryptocurrency mining rigs. Illustration photo. Under Deputy Prime Minister Trinh Dinh Dung's request, the MoIT has been seeking opinions from related government agencies with regard to a temporarily ban of the import of such platforms. In May, the MoF proposed a temporary ban on the import of mining rigs, citing the exploitation of those machines for launching new currencies or a new form of payments as reason. Mining rigs currently are not included in the list of goods banned from import, said the MoF, however, using cryptocurrencies as means of payment is prohibited. "As of January 1, 2018, the act of issuing, providing, and using illegal means of payment (including … [Read more...] about Vietnam c.bank agrees to suspend importing cryptocurrency mining rigs
BUSINESS NEWS IN BRIEF 2/8
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8
Britain to fine Facebook over data breach
This is part of its investigation into whether personal information was misused ahead of the Brexit referendum. The Information Commissioner's Office (ICO) began investigating the social media giant earlier this year, when evidence emerged that an app had been used to harvest the data of tens of millions of Facebook users worldwide. In the worst ever public relations disaster for the social media giant, Facebook admitted that up to 87 million users may have had their data hijacked by British consultancy firm Cambridge Analytica, which was working for US President Donald Trump's 2016 campaign. Cambridge Analytica, which also had meetings with the Leave.EU campaign ahead of Britain's EU referendum in 2016, denies the accusations and has filed for bankruptcy in the United States and Britain. "In 2014 and 2015, the Facebook platform allowed an app... that ended up harvesting 87 million profiles of users around the world that was then used by Cambridge Analytica in the 2016 presidential … [Read more...] about Britain to fine Facebook over data breach