More and more companies are tapping into the Asian market when it comes to financial technology investment, as the region has seen growth in remittances while some countries have weak banking sectors. This opens up a market gap that could make room for bitcoin opportunities later on.
Just recently, startup Apis was able to raise $150 million in funding for its private equity house focused on investing in financial services across Africa and South Asia. Apis Partners was founded a year ago and has started deploying capital while seeking more investors.
Bitcoin Opportunities in Asia
With that, Apis Partners can be able to put some of its capital in bitcoin startups in the region. As it is, most of the cryptocurrency companies are seeking to fill gaps in traditional banking sector or to offer money remittance services that are more cost efficient.
In Indonesia, Blossom is offering halal or Islam-approved loans for Muslims who are not allowed to take interest-bearing loans. In the Philippines, startups like Palarin are able to facilitate money transfers at lower fees compared to credit