Tagged: ant financial

China: WeiyangX Fintech Review

Chinese Fintech Enterprises Raised ¥230 billion (USD $ 2.64 billion) in the First Half of the Year The integration of technology and finance has become a major trend in the development of the financial industry. The investment enthusiasm of the capital market for financial technology… Read More

China: WeiyangX Fintech Review

China Launches a 100-billion-yuan technology investment fund: Chinese Version of the Vision Fund? On July 2, China Merchants Group, Beijing Asset Management Corporation SPF Group and London’s Centricus Corporation announced to launch a 100-billion-yuan investment fund – “China New Era Technology Fund.” The fund aims… Read More

Ant Financial Trialing Blockchain Remittance System: Hong Kong to Philippines

Ant Financial, a payments leg that services Chinese e-commerce titan Alibaba, is trialing a blockchain-based remittance channel connecting Hong Kong to the Philippines, Coindesk reports. Ant Financial made the announcement today in Hong Kong. According to a roughly-translated press release, the new system will transmit… Read More

China: WeiyangX Fintech Review

Tiger Brokers and Nasdaq Reach Strategic Cooperation on US Stock Data Solutions On June 14th, Tiger Brokers and Nasdaq announced a strategic cooperation to jointly provide Chinese Fintech platforms access to the US stock market data. According to the agreement, Tiger Brokers will become the… Read More

Goldman Sachs Presentation Foreshadows Digital Banking Aspirations of Marcus

While Goldman Sachs’  (NYSE:GS) most prominent foray into Fintech started with online lending, Marcus is poised to become so much more in the digital banking arena. As previously reported, Marcus zoomed into online lending fueled by consumer deposits due to an acquisition from several years… 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

Alibaba’s Ant Financial Set to Support Shanghai Pudong Development Bank’s Digital Transformation

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

China: WeiyangX Fintech Review

Tsinghua PBCSF Global Finance Forum (2018) convened in Beijing On May 19, Tsinghua PBCSF Global Finance Forum (2018), which was hosted by Tsinghua University and organized jointly by the Tsinghua University PBC School of Finance (PBCSF), Tsinghua University National Institute of Financial Research (NIFR) and… 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

China: WeiyangX Fintech Review

Financial Inclusion Platform FINUP Plans Public Listing in Hong Kong On April 23, China’s leading financial inclusion platform FINUP filed a listing application for the Hong Kong Exchanges and Clearing Limited (HKEX). According to statistics, FINUP will be the fifth Fintech company from mainland China… Read More

China: WeiyangX Fintech Review

Ant Financial and Bank of China Collaborate on Blockchain-based House Leasing Project in Xiong’an New Area On April 20th, Ant’s Xiong’an Digital Technology Co., Ltd. and the Xiong’an branch of Bank of China, signed a strategic cooperation agreement in Xiong’an New Area. In the future,… Read More

Alibaba’s Ant Financial is Preparing to Raise $9 Billion in Upcoming Private Funding Round

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

China: WeiyangX Fintech Review

China to Combine CBRC and CIRC According to a State Council reform plan that was presented for deliberation during the National People’s Congress on March 13, China will abolish China Banking Regulatory Commission (CBRC) & the China Insurance Regulatory Commission (CIRC). Instead, it will establish… Read More

Ant Financial Enters Into New Strategic Partnership With Telenor Group to Deliver Financial Services in Pakistan

Telenor Group announced on Tuesday it has reached a strategic partnership agreement with Ant Financial Services Group (Ant Financial) in Pakistan, where Ant Financial will invest $184.5 million for a 45% stake in Telenor Microfinance Bank (TMB), a subsidiary of Telenor Group, to further develop… Read More

China: WeiyangX Fintech Review

Tencent Credit Launches Public Beta Testing in China On January 30th, Tencent officially launched a public beta testing for its credit service-Tencent Credit. Users may get access to the service by searching “Tencent Credit” within WeChat, complete real-name authentication, bind his/her mobile phone number to… Read More

China: WeiyangX Fintech Review

P2P lending platform Dianrong Secures $70 million D-round funding On January 24th, online lending platform Dianrong.com announced 70 million US dollars D-round funding. This round of investment was led by ORIX’s wholly-owned-subsidiary ORIX Asia Capital Co., Ltd.. CITIC Securities CITIC Securities subsidiary CITIC Lyon also… Read More

China Restricts Micro-Loans; Alibaba’s Ant Financial Halts Asset-Backed Securities Lending

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

Shut Down: Alibaba’s Ant Financial Blocked by US Government on Acquisition of MoneyGram

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

Standard Chartered Announces New MOU With Ant Financial

International banking group Standard Chartered Bank announced on Monday it has signed a Memorandum of Understanding (MOU) with digital financial service provider Ant Financial Services Group. The company reported that under the terms of the MOU it will combine its banking expertise and insights in emerging… Read More

China: WeiyangX Fintech Review

Supply Chain Finance Platform Daokoudai.com Secures ¥100 million Investment led by BCCF On December 13th, online supply chain finance platform Daokoudai.com announced it had receive a ¥100 million A-round funding led by Beijing Cultural Center Fund (BCCF). SinarMas from Indonesia and Zhen Ru Investment Management… Read More