The House Is Going Public | TWIF Asia & India

India funding strong: Slice $100M, Nextgen Finance $23M, NSE ~$3.2bn IPO nod.

Regulatory push: Zerodha merchant banking, IRDAI Public Insurance Registry. PhonePe launched UPI 123Pay.

Cross-border payments updated: NYSE/KRX collaboration, KB Kookmin blockchain payments, Nium USDC funding.

Digital asset clarity grows: BIS favors tokenized deposits; Thailand approved BNPL and crypto travel rules. MAS committed $175M.

InsuranceDekho and RenewBuy merged to create India's largest AI-enabled insurance distribution platform with ₹6,600cr ($700M) premium.

Niyo acquired RemitX, Capital India's forex business, for ₹11.4cr ($1.2M), expanding cross-border payments network.

Razorpay launched RAY, an AI Account Manager on WhatsApp, partnering with IndusInd Bank and Bajaj Finance for payment operations management.

Hong Leong Bank launched HLB opus, a ceramic credit card with Visa Infinite Privilege tier, offering exclusive global rewards.

PhonePe launched UPI 123Pay, an SMS-based service enabling 200M+ feature phone users to make digital payments without internet.

New York Stock Exchange (NYSE) and Korea Exchange (KRX) signed Memorandum of Understanding (MoU) to collaborate on settlement cycle modernisation, extended trading hours, Exchange Traded Funds (ETFs), and market data products.

KB Kookmin Bank, South Korea's first financial institution, launched blockchain-based import-export payment service using JP Morgan's Kinexys Blockchain Deposit Account (BDA) network across 10 countries.

Visa launched enhanced A2A Protect service using Featurespace technology to identify risky account-to-account transfers in real time, increasing fraud detection by 75%.

Nium launched USDC funding for cross-border payouts across 190+ countries, automatically converting stablecoins to USD.

KAST launched business accounts in over 170 countries, enabling cross-border transactions using stablecoins with integrated cards, transfers, and contractor payment tools.

OCBC, Visa and Doxa launched early financing for construction subcontractors via Doxa Connex platform, reducing payment cycles from 100 days in Singapore.

MUFG Bank partnered with 21 international financial institutions to establish a stablecoin company, targeting USD-denominated stablecoin launch in H1 2027.

Ant International partnered with Philippine Payments Management Inc. (PPMI) to enable Alipay+ on QR Ph, allowing international consumers to pay at Philippine merchant locations using their home e-wallets.

Ping An Digital Bank in Hong Kong launched a collateral‑free purchase order financing product for cross‑border e‑commerce SMEs.

Vision Bank, a Category 1 Islamic bank in Abu Dhabi, launched a Shari'ah-compliant SME trade finance unit to provide short-term US dollar working capital for cross-border businesses in the GCC, India and Southeast Asia.

Slice, India's digital banking startup, raised INR 950cr (USD 100M) at ₹4,250cr ($450M) valuation.

Nextgen Finance, an SME-focused NBFC company, raised ₹215cr ($23M)

Insurance Regulatory and Development Authority of India (IRDAI) proposed a Public Insurance Registry (PIR) to reduce information gaps and boost transparency.

Tazapay secured in-principle approval for a retail Australian Financial Services Licence, enabling expansion to serve retail and wholesale clients.

Bank for International Settlements (BIS) positioned tokenised deposits as stronger foundation for future payments than stablecoins.

Thailand's Securities and Exchange Commission (SEC) mandated crypto travel rule requiring digital asset operators to share sender and recipient information for transfers from Feb, 2027.

Monetary Authority of Singapore (MAS) committed SG$220M ($175M) over three years for fintech innovation, targeting 1,000 internships.

Bank of Thailand approved regulatory framework for Buy Now, Pay Later (BNPL) providers, targeting Q4 2026 implementation.

Zerodha received Securities and Exchange Board of India (Sebi) approval for merchant banking license, with ability to offer IPO and fundraising management.

India’s National Stock Exchange (NSE) received SEBI’s approval for its proposed ~₹30,000cr ($3.2bn) IPO.

Asia-Pacific fintech investment fell to $4.6bn across 350 deals in H1 2026 from $7.1bn in H2 2025, though India grew to $2bn in the period.

Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts reportedly have 590M accounts with ₹3.15 lakh crore ($33.4bn) in deposits; 25% are inoperative, 9.7% with zero-balance as of August 2026.

Airwallex is investing $43M over five years to expand its UAE presence, build AI‑powered financial products, and move toward full launch of its Stored Value Facilities and Retail Payment Services licences.

XTransfer, a Chinese cross‑border payments company, secured in‑principle approval from the UAE Central Bank for a Retail Payment Services licence, a key step toward serving mainland UAE clients and expanding its regulated trade‑payment offerings in the Middle East

Ant International secured a Payment Institution licence from Brazil's central bank, enabling it to expand local and cross-border payment and account services for enterprises, platforms and SMEs in Brazil.

Stakk, an Australian embedded fintech infrastructure company, reported A$1.07M ($770M) operating profit in FY2026 as revenue grew 1,098% YoY to A$15M ($10.8M), driven by rapid customer growth and higher cash receipts.