Indonesia Financial News

Chinese President Xi Jinping and his US counterpart Joe Biden held a long phone call in which the Beijing leader warned the US against meddling in China's dealings with Taiwan and splitting the world's two biggest economies, officials said.

In a document dated Wednesday, July 27, Thai cryptocurrency exchange Zipmex said that its solicitors in Singapore, Morgan Lewis Stamford LLC, filed five moratorium applications, or legal authorization to debtors to postpone payment, under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 on behalf of the company. Zipmex seeks to protect itself against third party actions, claims, and proceedings for a period of six months while the filing is active. The announcement came just one week after its CEO and co-founder Marcus Lim publicly denied the firm was facing financial troubles. Rumors have been circulating in the past month that the cryptocurrency exchange was insolvent after a proposed acquisition by Coinbase fell through. 

Thailand probing potential losses for users of crypto platform Zipmex

Southeast Asia crypto exchange Zipmex to resume withdrawals

Zipmex said it would write off its $5 million exposure to Celsius.

Southeast Asia-focused cryptocurrency exchange Zipmex has suspended withdrawals, the company said in a tweet on Wednesday night, with an executive of its Thai affiliate citing liquidity difficulties at crypto lenders Babel Finance and Celsius.

[content][quote]Market Buzz[/quote][title]Bitcoin, Ethereum fall up to 5%[/title][circularimage]

Thai cryptocurrency exchange Zipmex has paused withdrawals on its platform following a "combination of circumstances" beyond its control. Cointelegraph reports that Zipmex could be in trouble were dismissed as “rumors” by CEO and co-founder Marcus Lim following the failed acquisition of the Thai exchange by Coinbase.

According to Phillip Lowe, Governor of the Australian Central Bank, a private solution for cryptocurrencies “is going to be superior.” That is, as long as risks are reduced by regulations.

Australian central bank Governor Phillip Lowe said that a private solution “is going to be better” for cryptocurrency as long as risks are mitigated through regulation.

Financial services firm Mastercard has partnered with crypto gateway provider Fasset to co-develop digital solutions that may drive adoption in Indonesia. The collaboration aims to expand financial inclusion in the country and extend opportunities to its local economy. 

One of the world’s leading financial policy-making organizations said that it will tell governments to step up their supervision of stablecoins later this year – against a “backdrop of the recent turmoil” in the crypto sector.

Higher prices for food and energy are expected to dominate a divisive meeting of top diplomats from the world’s leading economies, with U.S. officials looking to put pressure on Russia to allow a freer flow of grain from war-torn Ukraine via the Black Sea.

Nume Crypto has raised $2 million in a pre-seed funding round led by Sequoia Capital India, the web3 payments startup said on June 14.

Indonesia's Pintu was backed by several investors who helped the cryptocurrency exchange raise $113 million in a Series B funding round, The Block reported.

Indonesian crypto asset platform Pintu announced the closure of a $113 million Series B funding round participated by four prominent investors Pantera Capital, Intudo Ventures, Lightspeed and Northstar Group. 

Affluent investors in Asia are neither shy nor ignorant about crypto, with research revealing that 52% of them held some form of a digital asset during Q1 2022. 

On Friday, June 3, South Korea’s Financial Supervisory Service (FSS) began an investigation into payment gateway services that work with digital assets. The FSS is South Korea’s financial regulator that operates under the Financial Services Commission (FSC), both of which are government institutions.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

The online hackathon will focus on three issues: building effective and robust means to issue, distribute and transfer CBDCs; enabling financial inclusion; and improving interoperability.Shortlisted teams will showcase their prototypes in July, with winners to be chosen in October by an independent panel.The winners for each category will receive an award of $53,000. All short-listed projects receive a stipend of S$10,000.Agustín Carstens, general manager, BIS, says: "There is a collective belief that CBDCs have potential for promoting the public interest in this age of digital money.