Tagged: ant group

Ascend Money Secures $150M at $1.5B Valuation, Making it Thailand’s First Fintech Unicorn

Ascend Money has reached a $1.5 billion valuation after finalizing a $150 million round, making it the very first Fintech Unicorn in Thailand. The proceeds will be channeled towards growing the firm’s client base (which includes its digital wallet app, TrueMoney Wallet) and to further… Read More

China: WeiyangX Fintech Review

CBIRC is Studying and Developing ESG Investment Guidance for Insurance Funds It is reported that China Banking and Insurance Regulatory Commission (CBIRC) is accelerating research and development of ESG investment guidance for insurance funds. The guidance shall clarify relevant principles for product design, investment process,… Read More

China: WeiyangX Fintech Review

Data Security Law Comes Into Effect  On September 1st, the Data Security Law came into effect. Together with Cyber Security Law and Personal Information Protection Law, the three regulations shall lay the foundation for information security in China. The 29th session of the Standing Committee… Read More

BBVA and Alibaba Affiliate Ant Group to Work on Integration of Financial Services via DLT based Trusple

BBVA and Ant Group (Alibaba affiliate) have entered an agreement to work on the integration of financial services in their platform, Trusple. Based on blockchain or distributed ledger technology (DLT), this network aims “to accelerate the digital transformation and facilitate the financing of international trade… Read More

China: WeiyangX Fintech Review

Police in Changsha Receive Salaries in the Form of Digital RMB At present, digital RMB pilots have been conducted in various applications across China. On May 8th, employers at the Kaifu branch of Changsha Municipal Public Security Bureau received their salaries in the form of… Read More

CBDCs: Chinese Banks Introduce Central Bank Digital Currency Hardware Prototypes for Multiple Applications

Chinese banking institutions have introduced central bank digital currency (CBDC) hardware prototypes for several different use cases. The People’s Bank of China (PBoC), the nation’s central bank, and the Industrial and Commercial Bank of China (ICBC) have introduced prototype hardware devices that aim to offer support… Read More

Fintech Ant Group Affiliate MYbank Is Planning to Expand Operations in China to Serve More Rural SMEs

China-based MYbank, an online private commercial bank and an affiliate of the Ant Group with a special focus on working with rural areas and SMEs, has revealed that it will be doubling the number of rural counties it serves in the coming years. MYbank and… Read More

China: WeiyangX Fintech Review

Fintech Companies Will Face Listing Restrictions on the SSE STAR Market  On April 16th, the China Securities Regulatory Commission (CSRC) published the revised edition of “STAR Market Property Evaluation Guidelines”. According to the amendments, Fintech companies will be classified as “restricted” category when it applies… Read More

Chinese Fintech Ant Group Is Reportedly Considering Ways for Jack Ma to Make a Complete Exit from the Firm

China’s Ant Group is looking into potential ways for billionaire Jack Ma to make an exit as Beijing continues to increase its pressure and scrutiny of Fintech businesses in the country, according to a report from Reuters which cited sources familiar with the matter. According… Read More

China: WeiyangX Fintech Review

Huabei Announces Agriculture Promotion Plans On March 29th, Huabei, the consumer credit platform of Ant Group announced the launch of a series of agriculture promotion plans. For example, Huabei will offer consumption subsidies and platform traffic to help the farms sell more products. Besides, Huabei… Read More

Ant Group, the Fintech Division of Digital Commerce Giant Alibaba, Aims to be Carbon Neutral by 2030

Ant Group, the Fintech division of digital commerce giant Alibaba Group Holding Limited (NYSE: BABA), has made a commitment to become carbon neutral by 2030. Ant Group’s management stated that to achieve the carbon neutral target within the coming decade will involve establishing a carbon… Read More

DBS Becomes First Major Asian Bank to Finalize Trade Financing Transaction via AntChain’s Trusple Platform

After the rollout of Trusple, which is AntChain’s global trade and financial services platform, DBS (SGX:D05) has confirmed that it’s the first major Asian banking institution to finalize a trade financing transaction via the platform. The digital transaction was valued at more than $40,000. The… Read More

Ant Group CEO is Out as Fintech Attempts to Mollify Regulators: Report

Ant Group CEO  Simon Hu has resigned from the Fintech according to multiple reports. Ant Group has seen its trajectory diminish in recent months following the decision of securities regulators to halt a pending initial public offering. Some reports linked the halted IPO to comments… Read More

Chinese Fintech Ant Group’s Business Restructuring May Impact its Revenue and Profit Growth, Could Force Firm to Raise More Capital

After facing increasing pressure from Chinese authorities, billionaire Jack Ma’s Fintech firm Ant Group is now focused on restructuring its business operations in order to serve as a financial holding company. The Ant Group has also been focused on positioning itself as an Internet-tech firm… Read More

Ant Group and CIMB Owned Online Wallet Provider TNG Digital Is Reportedly Planning to Secure $150M to Support Expansion Efforts

TNG Digital, the digital wallet provider that was launched via a joint initiative between CIMB Bank and China’s Ant Financial (now Ant Group), is reportedly planning to secure $150 million in capital according to a recent report from Reuters. The Malaysian digital wallet operator, owned… Read More

President Trump Signs Executive Order to Ban US Transactions with Chinese Fintech Apps like Alipay, Tencent’s Digital Wallets

US President Donald Trump has signed an order that aims to place a ban on US transactions with eight major Chinese apps – which reportedly includes Ant Group’s Alipay and Tencent Holdings’ online wallets. Notably, this order has arrived just days before the Trump administration… Read More

China’s Banking and Insurance Regulatory Commission Orders All Local Firms to Investigate their Fintech Businesses

China’s banking and insurance regulator stated on December 31, 2020 (Thursday) that all Internet-based platforms in the country should investigate their Fintech-related businesses to ensure that they’re following regulatory guidelines and must also address any shortcomings. China‘s financial regulators have held discussions with Alibaba’s (NYSE:BABA)… Read More

The Top Ten Fintech Predictions for 2021

Fintech enthusiasts welcome back to my 5th annual “Top Ten” Fintech prediction series. This year I’ve met a lot of powerful movers and shakers in the Fintech space. My take away from these meetings and interactions is how little do I know about this ever-expanding… Read More

The Time of COVID: The Biggest Fintech Stories of 2020

2020 was a challenging year for the entire world. The ongoing health crisis surprised everyone as the world dove into a pandemic, pummeling the global economy and impacting everyone. In many respects, Fintech emerged as a beneficiary of COVID-19. Digital transformation of financial services were… Read More

Firms Secured More Capital via Stock Market Listings in 2020 than Any Other Year, Except 2007: Report

Firms secured more capital via stock market listings in 2020 than in any other year, except for 2007, as a recovery in equities valuations managed to attract various firms and blank-cheque acquisition vehicles were increasingly used to carry out listings in US markets. The hot… Read More

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