Ten leading Fintech companies recently took to the final stage at the FintechHK Global Competition. FintechHK Global Competition is supported by InvestHK, the department of the Hong Kong SAR government that handles Foreign Direct Investment. InvestHK supports overseas, mainland China and Taiwanese businesses by helping… Read More
Alibaba’s annual Singles Day has turned into a huge event in China. Headlines today indicate that singles day has delivered a record-setting amount of transactions as sales top a whopping $38 billion. According to Alibaba, $1 billion was settled via Alibaba’s Fintech platform Alipay within… Read More
Ant Financial Services Group, an affiliate company of the Chinese Alibaba Group (NYSE:BABA), is teaming up with Bayer Crop Science to create a blockchain-enabled platform for monitoring agricultural product. Ant Financial and Bayer Crop signed a letter of intent to leverage blockchain technology to develop… Read More
LendingClub (NYSE: LC), has filled a vacant board of directors position with Michael Zeisser – a former executive with Alibaba. According to a release, Zeisser will serve on the Nominating and Corporate Governance Committee and the Compensation Committee. Zeisser has an interesting resume. Until April… Read More
Chinese multinational conglomerate Alibaba Group has acquired Kaola for approximately $2 billion from Hangzhou-based entertainment giant NetEase. The acquisition has created the largest cross-border e-commerce platform in China, according to Alibaba’s management. Commenting on Alibaba Group’s latest acquisition, company chief executive Daniel Zhang said: “With… Read More
A lawyer for a company that raised $3.5 million in three ICO (initial coin offerings) fundraises for a crypto product called “AlibabaCoin” has told the Reuters news agency that his clients have agreed to stop using the Alibaba name. The case borough against the firm… Read More
Cybersecurity firm Palo Alto Networks’ Unit 42 “global threat intelligence team” has identified a new exploit illegally mining Monero cryptocurrency on Chinese public cloud networks: “Palo Alto networks recently captured and investigated new samples of the Linux coin mining malware used by the Rocke group…. Read More
Global financial service platform Kabbage announced on Monday it is now powering the Pay Later Financing option for U.S. customers of Alibaba.com. According to Kabbage, Alibaba Group’s (NYSE: BABA) online platform for global B2B trade and the Pay Later option allows millions of U.S. small businesses… Read More
Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, announced on Wednesday that Alibaba Cloud, Citi, Deutsche Telekom, we.trade and 12 more organizations have joined the project. This news came during day one of the inaugural Hyperledger Global Forum, which took place in Basel,… Read More
Bloomio, a blockchain- based equity crowdfunding platform that allows investors to fund startups in return for tokenized shares, has appointed a new board of independent experts to conduct due diligence of potential strength and scalability of startups applying to raise on the platform. The platform raised an… Read More
Chinese fintech and Alibaba-affiliated Ant Financial Service Group announced on Friday it secured approximately $14 billion through its Series C Equity Funding round, which includes an RMB tranche raised by the company from domestic investors and a USD tranche raised by Ant international Co., Limited, a wholly… Read More
Chinese fintech and Alibaba-affiliated Ant Financial Service Group announced on Wednesday it has signed a strategic cooperation agreement with Shanghai Pudong Development Bank Co., Ltd. to support the bank’s digital transformation with Ant Financial’s technological capabilities. Ant Financial reported that the agreement is the third of its… Read More
According to 8btc, Gao Xiaosong, host of the #1 talk show in China and Chairman of Alibaba Music, defended cryptocurrencies in an episode of “Morning Call” aired last Friday. “I cannot figure out why so many people are mean to virtual currency. (After all) currencies… Read More
Chinese fintech and Alibaba-affiliated Ant Financial is preparing to launch a private funding round in order to secure up to $9 billion. According to various reports, the company is increasing the funding target from previous funding rounds that sought up to $5 billion. Ant Financial’s previous fundraising round… Read More
SenseTime, a Chinese artificial intelligence (AI) company, announced on Monday it raised $600 million during its Series C round of funding, which was led by the Alibaba Group with participation from Temasek and Suning. This round of funding comes less than a year after the company raised $410 million through its… Read More
Qupital, a Hong Kong-based trade finance platform, announced last week it has signed a financial strategy agreement with Alibaba. According to Qupital, The collaboration enables qualified Gold Supplier members of Alibaba to free up working capital easier through its platform. It was also reported: “Under this agreement, Alibaba Gold… Read More
Following China’s decision to restrict micro-loans, Alibaba’s Ant Financial has reportedly halted its consume loan lending. According to Bloomberg, the company has not sold any asset-backed securities since early December, which was around the time that Chinese officials announced they were requiring micro-lenders to consolidate… Read More
Ant Financial, part of tech conglomerate Alibaba, announced its intent to purchase MoneyGram (NASDAQ: MGI) a year ago. The acquisition would have combined MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts with Alibaba’s fast growing global Fintech presence. MoneyGram is currently active in… Read More
One of the fastest growing Fintech’s in China has raised USD $220 million. WeLab, a Hong Kong-based mobile lending platform founded in 2013, has closed funding round of $220 million including both strategic debt and equity funding with the backing of Alibaba Hong Kong Entrepreneurs Fund,… Read More
During July 2016, I was part of a delegation of US Fintech executives visiting our counterparts in Hong Kong, Shenzhen, and Shanghai, China. We toured and visited some of the most exciting Fintech platforms in China such as LuFax, CreditEase, Tencent (the creator of WeChat),… Read More
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