Singapore’s Fincy Pulls Out of Controversial Chinese-Backed Gambling Hub in Myanmar

YANGON—Singapore-based financial services firm Fincy has announced it will withdraw from a controversial development project run by shady Chinese investors accused of involvement in illegal cryptocurrency and online casino operations near the Thai border in Myanmar’s Karen State. On Wednesday, Fincy said in a statement that it is pulling out of the Yatai New City […]

Is Myanmar ready for cryptocurrency?

The recent coverage of Chinese blockchain company Shellpay Internet Technology Co’s plan to issue digital coins in eastern Shan has sparked widespread social media attention on the cryptocurrency industry. Cryptocurrencies are digital currencies that has no physical form. Unlike cash, they have decentralised control and does not require a central bank or federal reserve. Blockchain […]

Chinese tech firm claims digital plans for Mong La SEZ

A Shanghai blockchain company claimed it intended to set up a special economic zone in a rebel-held border area of eastern Shan State where it would issue digital currencies and IDs to the local population. Executives from Shellpay Internet Technology Co, in a Channel News Asia (CNA) broadcasting programme aired last December, said that the […]

Mongla Official Denies Chinese Firm Permitted to Set Up Autonomous Digital Economic Zone

The general secretary of the rebel-controlled Mongla Special Administrative Region on the Chinese border has denied any knowledge of a Chinese company’s plan to establish an independent political entity within its borders based on an “e-citizenship” system open to all with a digital economy supported by a cryptocurrency. In a program titled “Inside the Crypto […]

Revolutionary new technology demonstrated by Myanmar’s Blockchain Development and Research Company

YANGON The future of blockchain, the potentially revolutionary new verification method for digital transactions, was presented last week to the business community in Yangon. Blockchain Development & Research Company Limited jointly presented with China’s Guiyang Institute of Blockchain, with whom they have signed a memorandum of understanding. The DCD Group Sdn Bhd of Malaysia and […]

Blockchain startup Everex secures seed funding and seeks more in token sale

Singaporean fintech startup Everex has just raised US$500,000 in seed funding from Chinese industrial conglomerate Holley Group. It hopes to add a substantial sum to that figure from its token sale, which kicks off today. Everex has developed an Ethereum blockchain-based online payments suite, which comprises cash transfer and micro-lending services, as well as an […]