Tagged: alibaba

Alibaba’s Ant Financial Partners With Bayer Crop Science to Develop Blockchain-based Agricultural Monitoring Product

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

China: WeiyangX Fintech Review

The People’s Bank of China Issues “China Rural Financial Services Report (2018)” On September 19th, the People’s Bank of China issued the “China Rural Financial Services Report (2018)” (hereinafter referred to as the “Report”). The report provides a detailed review of the development of China’s… Read More

LendingClub Fills Board of Directors Slot with former Alibaba Executive Michael Zeisser

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

Alibaba Acquires Kaola for $2 Billion from Entertainment Giant NetEase, Creates China’s Largest International E-commerce Platform

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

China: WeiyangX Fintech Review

People’s Bank of China Publishes Trial Regulatory Measures on Financial Holding Companies On July 26th, the People’s Bank of China (PBC) published the Trial Measures on Supervision and Regulation of Financial Holding Companies (Exposure Draft) (hereinafter referred to as the Measures) and sought for feedback… Read More

China: WeiyangX Fintech Review

Online Insurance Platform Wukongbao Secures a New Round of Financing from 58 Group, Plum Ventures and Yeepay On June 20th, online insurance platform Wukongbao announced that it had received a new round of financing. Participants in the investment included 58 Group, Yeepay, and Plum Ventures…. Read More

Hong Kong Fintech Update

Invest Hong Kong Appoints New Head of Fintech King Leung has been appointed Head of Fintech at InvestHK which took effect in early May. Leung will lead a specialist Fintech team with the objective of attracting top innovativeFfintech companies, entrepreneurs, investors, accelerators and R&D institutions… Read More

Crypto Company Agrees to Stop Using Alibaba Name

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

China: WeiyangX Fintech Review

Xiongan: the New Fintech Hub According to a guideline jointly issued by the Communist Party of China Central Committee and the State Council, Xiongan New Area is set to become a new center for China’s financial innovation. The guidelines said that Xiongan will “take the… Read More

China: WeiyangX Fintech Review

Winners of the 2018 Global Fintech Venture Competition Announced in Beijing The winners of the 2018 Global Fintech Venture Competition were officially announced at the 3rd China Fintech Conference on January 20, 2019. The 2018 Global Fintech Venture Competition was initiated by Tsinghua IFR, jointly… Read More

New Monero CryptoMining Malware Targeting Alibaba and Tencent Clouds

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

Kabbage Now Powering “Pay Later” Financing for Alibaba.com U.S. Customers

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

China: WeiyangX Fintech Review

Tsinghua PBCSF Releases “2018 Global Insurtech Report by Subsector” Early this month, the China Insurance and Pension Research Center of the National Finance Research Institute of Tsinghua University released the “2018 Global Insurtech Report by Subsector“. The report provides case studies of Insurtech companies in… Read More

China: WeiyangX Fintech Review

Sesame Credit Accepted for Canadian Visa Application This week, the Canadian Immigration Department (IRCC) announced that Chinese tourists can choose to submit his/her Sesame Credit Visa report (≥750 points) as financial proof for Canadian visa application. Sesame Credit is credit-assessment service offered by Ant Financial,… Read More

China: WeiyangX Fintech Review

Beijing publishes Fintech Development Plan (2018-2022) Recently, the Zhongguancun Administration Committee, the Beijing Financial Work Bureau and the Beijing Municipal Science and Technology Committee jointly issued the “Promotion of Financial Technology Development Plan (2018-2022)” (hereinafter referred to as “plan”). The goal of the plan is,… Read More

China: WeiyangX Fintech Review

Alibaba Submits Blockchain Patent Applications that Allow “administrative intervention” On October 6th, Chinese e-commerce giant Alibaba applied for a blockchain system patent, allowing third-party administrators to perform “special treatment” (e.g. suspend a smart contract or freeze an account associated with an illegal activity). For example,… Read More

People’s Bank Admits It Was Behind Spate of Recent Anti-Crypto Measures in China

The People’s Bank of China admitted today that it is responsible for coordinating and initiating a spate of recent measures designed to quash cryptocurrency and ICO (initial coin offering) activity China. The bank says its National Internet Financial Risk Special Remediation Leading Group has been orchestrating… Read More

Alibaba’s Ant Financial Secures Approximately $14 Billion Through Series C Equity Financing Round to Accelerate Globalization & Technology Innovation

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

China: WeiyangX Fintech Review

PBOC Bans Unauthorized APP to Access Credit Rating System Recently, the People’s Bank of China (PBOC), China’s central bank, issued a document named, “Notice on Further Strengthening the Management of Credit Information Security” (Yinfa [2018] No. 102) (hereinafter referred to as “Document No. 102”), to… Read More

Alibaba Music Chairman Gao Xiaosong Defends Cryptocurrencies on Talk Show

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

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