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Siam Commercial Bank expands its global “fintech radar” in the US market through investment in Nyca

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Siam Commercial Bank (SCB), through its financial technology (fintech) subsidiary Digital Ventures, today announced a significant development in its investment in Nyca Fund II, one of the US’ top fintech-focused funds with distinguished reputation for its capability to bring together the expertise of both Silicon Valley and Wall Street. This marks a new milestone in SCB’s efforts to grow its global network of fintech investments.

Under the partnership agreement, SCB will be one of Nyca’s only 10 institutional limited partners. As a Limited Partner, SCB will become deeply involved with Fintech-focused companies in the US and have greater exposure to Fintech startups in the US in their early stage. At the same time, SCB will have the opportunity to explore more financial technology implementation cases.

Thana Thienachariya, chairman of Digital Ventures’ executive committee, said: “This partnership marks a significant milestone for SCB in growing our global network of “fintech radars”. The US is a large fintech startup market with approximately US$13 billion investment every year. Coupled with the country’s innovation capability, it is important for us to have a strong presence in this market.  Thanks to Nyca’s extensive…

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Alibaba confirms $13bn listing in Hong Kong

Alibaba will offer 500 million shares at a maximum of HK$188 apiece, the company said. The number eight is considered auspicious in China.

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Chinese technology giant Alibaba on Friday confirmed plans to list in Hong Kong in what it called a $13 billion vote of confidence in the turbulent city’s markets and a step forward in its plans to go global.

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E-commerce in ASEAN: Digital technology and players

The 50 most-funded e-commerce start-ups in ASEAN have raised $12.6 billion as of July 2019, with most of the funding raised in the last two years

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E-commerce has been the most dynamic segment of the Internet economy in ASEAN over the past three years. The value of e-commerce rose four-fold, from $5.5 billion in 2015 to more than $23 billion in 2018.

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Southeast Asia’s internet economy hits $100 billion

The two pacesetters in the region are Indonesia and Vietnam, which lead the pack with growth rates in excess of 40% a year.

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The internet economies in Malaysia, Thailand, Singapore and the Philippines are growing by between 20% and 30% annually, with no signs of slowing down, according to Google and Temasek multi-year research program. 

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