Mynt Condition: The Philippines Prints a Record IPO | TWIF Asia & India

Digital lending platforms see growth: super.money tripled revenue to $31M (losses widened), and AI-lender Vegafin secured $110M.

India's banking sector faced deposit outflows and credit contraction; PhonePe enhanced investing, Pine Labs enabled UPI payments in Sri Lanka.

Philippines fintech surged with Mynt's $965M IPO and Salmon's $140M raise; DBS PayLah! expanded QR payments to Taiwan, and OCBC launched Ringgit savings.

APAC stablecoin B2C payments are 5.3x traditional, driving digital asset regulation with Bitget's Thai acquisition and Bybit's Dubai VASP license.

Tech Mahindra acquired Finastra's Cash Management product suite comprising Fusion Cash Management (FCM), Fusion Virtual Accounts (FVA) and Fusion Liquidity Management (FLM).

Bitget acquired GMO-Z.com Cryptonomics, a Bangkok-based digital asset exchange, to establish regulated operations in Thailand.

JB Financial Group acquired 100% stake in two Kyrgyz financial companies, Korky Credit and Epoque, to expand into Central Asia.

PhonePe evolved its stock broking platform into PhonePe Invest and launched Portfolio Optimiser for portfolio management.

Ping An Digital Bank launched Receivables Finance and Invoice Financing products offering up to HK$50 million revolving credit for Hong Kong Small and Medium Enterprises (SMEs).

JCB partnered with Krungsriayudhya Card to launch Krungsri JCB Ultimate, a premium credit card targeting Japan enthusiasts with 5x rewards on Japanese spending.

Pine Labs partnered with Webxpay to enable UPI, net banking, and card payments for Indian travellers in Sri Lanka through a regulated Payment Aggregator-on-Payment Aggregator framework.

7X, formerly Emirates Post Group, fintech arm FINTX launched ADEED Finance, a digital referral platform connecting SME financing applications to five UAE banks offering trade finance, working capital, and supply chain financing solutions.

FOMO Pay partnered with PantherTrade to launch Travel Rule connectivity enabling compliant direct digital asset transfers between Singapore and Hong Kong.

Paymentology partnered with Asia United Bank to power the bank's digital payments platform, supporting HelloMoney e-wallet and cross-border QR payments across 60 destinations.

CodeCoin, a Hong Kong based blockchain payment platform, launched a Visa-network-enabled consumer card with quantum encryption, enabling real-time CUSD settlement and spending at millions of merchants globally.

Mox Bank partnered with QBE Hong Kong to launch Home Cushion Insurance, offering digital home coverage up to $190K for contents and $13K for buildings.

Maybank partnered with ServiceNow to expand its Resilience Operations Centre across Malaysia, Singapore and Indonesia using artificial intelligence to identify operational risks.

DBS PayLah! partnered with Taiwan's TWQR network to enable QR payments at 250,000+ merchants, with full coverage expected by 2027.

OCBC launched Ringgit savings accounts for Singapore customers, allowing them to hold up to RM50,000 and spend in Malaysia without foreign exchange fees.

National Information Technology Board (NITB) launched integration of Raast and digital payment services across government platforms, enabling citizens to pay taxes, utility bills, and service fees electronically through multiple channels including cards, QR codes, and interbank transfers.

Allianz Singapore launched a temporary benefit offering eligible policyholders up to S$50 (USD 37) reimbursement for haze-related outpatient medical treatment from October 16 to November 15, 2026.

Mastercard launched Mastercard Max, an AI assistant helping cardholders find and use card benefits, initially with Brazil's C6 Bank and expanding to multiple African and Asian banks.

HSBC partnered with PayMe to launch HSBC RedCoin stablecoin, enabling 3.3M users to make instant transfers and payments at 100,000+ merchants in Hong Kong.

Qashier, a digital POS provider in Singapore, launched QashierGM, an AI general manager for 25,000+ merchants across Southeast Asia, with team collaboration feature Crew included at no additional cost.

Bybit launched trading in 1,000+ US stocks and exchange-traded funds (ETFs), and developed tokenised equity product mStocks with Mantle.

Ripple partnered with Jeonbuk Bank in South Korea to launch Southeast Asia remittance services for foreign workers in Korea, targeting faster cross-border payments.

MONEYME, an ASX-listed Australian auto lender, executed $413M Autopay Asset-Backed Securities (ABS) transaction, bringing 12-month issuance to $1.2bn).

FundPark, a Hong Kong-based working capital financing startup, raised $250M.

Salmon, a Philippines-based digital banking startup, raised $140M.

Vegafin, an AI-first MSME lending company, raised ₹1,000cr ($110M).

Monetary Authority of Singapore (MAS) ordered YouTrip to investigate a third-party vendor outage that disrupted services across Singapore and Thailand.

Monetary Authority of Singapore (MAS) warned that surging AI investment could inflate asset prices and trigger financial instability despite limited productivity gains.

Bybit secured a Virtual Asset Service Provider (VASP) licence from Dubai's Virtual Assets Regulatory Authority (VARA) for Exchange Services covering spot trading.

Astana Financial Services Authority (AFSA), the independent regulator of the Astana International Financial Centre (AIFC) in Kazakhstan granted in-principle approval to Payward Kazakhstan for digital asset trading and custody services.

China Securities Regulatory Commission (CSRC) approved Citigroup's plan to establish wholly-owned securities firm in Shanghai, offering equities brokerage, underwriting, and trading services.

Malayasia's central bank Bank Negara Malaysia, launched SSDS+, a tokenised bonds and sukuk depository platform, integrating with its 24/7 RTGS system.

Mynt, Philippines' digital wallet company, raised $965M in the country's largest-ever Initial Public Offering (IPO).

super.money tripled operating revenue to ₹292cr ($31M) in FY26 but losses widened 78% to ₹264cr ($28M) YoY.

India's banking sector saw ₹5.19 lakh crore ($570M) deposit outflow and ₹2.52 lakh crore ($277M) credit contraction in fortnight ending October 15, 2026.

Indian non-life insurance sector experienced crop insurance premiums fall 31%, fire insurance decline 26.6% in H1 FY27 amid pricing pressure.

SBI Cards reported 75% YoY net profit growth to ₹778cr ($82M) in Q2 FY27, driven by 37% decline in bad debt expenses to ₹819cr ($86M).

Pice, a B2B payments fintech startup, disbursed ₹100cr ($11M) in supply chain financing, growing 45% MoM with 88% repeat borrowers.

Hanwha Life partnered with Save the Children to launch financial education program in Indonesia targeting high school students.

Allium and FXC Intelligence reported stablecoin cross-border B2C payments in Asia-Pacific reached 5.3x traditional currency share, highest globally.

EleBank, a Hong Kong-based digital bank, launched its first physical store to support wealth management services including stocks, funds, and cryptocurrencies.

National Bank of Cambodia (NBC) partnered with Bank of Central African States to enhance bilateral cooperation in fintech and innovation.