Singapore-based payment app pulls out of controversial Myanmar development

Fincy had touted itself as "the exclusive provider of financial services in Yatai City" in Myanmar's Kayin state on Google's Play Store.
Fincy had touted itself as "the exclusive provider of financial services in Yatai City" in Myanmar's Kayin state on Google's Play Store.PHOTO: SCREENGRAB FROM FINCY.COM

BANGKOK - Fincy, a Singapore-based currency exchange and payment application, is exiting a controversial development in Myanmar accused of facilitating illegal online gambling.

In an e-mailed statement on Wednesday (Oct 7), it said it was "pulling out of Yatai City following a series of press articles which alleged that it was being used to prevent law enforcement from tracking financial transactions in the city".

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