Tagged: china

January 19, 2020 @ 8:28 am By Omar Faridi  |  

Ant Financial is reportedly working with several banking institutions in order to revive its plans for conducting an initial public offering (IPO). The Fintech company’s decision to go public has come more than a year after China’s leading mobile payments firm postponed the process after… Read More

January 18, 2020 @ 5:54 pm By Xu Gao  |  

Tencent LiCaiTong Releases “Online Wealth Management Behavior and Security Report (2019)“ On January 14th, LiCaiTong, Tencent’s wealth management platform, and National Institution for Finance & Development (NIFD) jointly released the “Online Wealth Management Behavior and Security Report (2019)”. The report published the 2019 online wealth… Read More

January 15, 2020 @ 11:02 am By Samantha Hurst  |  

Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, is set to host its upcoming fintech conference in Shanghai. Ant Financial reported that the INCLUSION Fintech Conference is an event that aims to bring together the global financial and… Read More

January 14, 2020 @ 7:46 am By Omar Faridi  |  

“Beijing Tong,” a mobile-based app developed and released by Beijing’s municipal government, has reportedly registered data from more than 1,000 local business offices on its “menu blockchain” system. Confirming the development on January 11, 2020, during a scheduled session of the Municipal People’s Congress, Feng… Read More

January 13, 2020 @ 4:18 pm By Cali Haan  |  

Bitmain, one of the world’s largest manufacturers of cryptocurrency mining hardware, says it is reducing staff in order to head off a revenue squeeze that could occur when Bitcoin “halves” in May, Sina reports. Although, “the company is now operating normally and the cash flow… Read More

January 11, 2020 @ 7:29 am By Omar Faridi  |  

Asian Fintech firm Ant Financial, a subsidiary of e-commerce giant Alibaba (NYSE:BABA), has reportedly been ranked China’s fifth most valuable privately-held company. According to an inaugural rankings report released by Hurun, which is primarily known for publishing China’s list of wealth individuals, Ant Financial is… Read More

January 11, 2020 @ 7:22 am By Omar Faridi  |  

The People’s Bank of China (PBoC), the nation’s central bank, has reportedly stated that the “top-level” design of its national digital currency has been finalized. The Chinese reserve bank revealed the development of the sovereign digital currency in a new paper, confirming that the “top-level… Read More

January 10, 2020 @ 10:07 am By Samantha Hurst  |  

Western Union (NYSE: WU) announced on Friday it has partnered with Du Xiaoman Financial (formerly fintech Baidu Finance) to launch Western Union international money transfers to be paid out in real-time into even more bank accounts in China.  According to the duo, the account payout… Read More

January 9, 2020 @ 11:01 pm By Samantha Hurst  |  

Standard Chartered, a UK-based multinational banking and financial services company with $688 billion in assets, announced on Thursday its strategic investment into Linklogis, a Chinese supply chain financing platform, to enhance its joint supply chain ecosystem proposition and provide suppliers with access to affordable and… Read More

January 9, 2020 @ 5:59 am By Cali Haan  |  

China’s Banking and Insurance Regulatory Commission (CBIRC), which oversees the country’s financial markets, has, “published a guideline saying it would promote the conversion of household savings into long-term capital market fund,” South China Morning Post (SCMP) reports. The CBIRC did not say how it will… Read More

January 8, 2020 @ 9:38 pm By Omar Faridi  |  

eBaoTech, an established multinational online insurance solution provider based in Shanghai, and Willis Towers Watson (NASDAQ: WLTW) have revealed that they will be working cooperatively to offer a robust, one-stop insurance middle office platform, in order to promote digitalization across the insurance industry. The collaboration… Read More

January 5, 2020 @ 6:59 am By Xu Gao  |  

Ant Financial Applies for Singapore Digital Banking License On January 2nd, Ant Financial confirmed that it had applied a digital wholesale banking license in Singapore as an effort to promote the development of local digital banking and global financial inclusion. As early as November 19th… Read More

December 31, 2019 @ 11:00 am By Omar Faridi  |  

China’s Securities Regulatory Commission has confirmed that it recently received an application for a blockchain-related exchange-traded-fund (ETF). The nation’s securities regulator noted that the proposal was submitted on December 24, 2019 by Penghua Fund, a Shenzhen-headquartered asset manager. According to the filing, the ETF application… Read More

December 30, 2019 @ 5:41 pm By Cali Haan  |  

Due to dry conditions and a 30% rise in electricity consumption expected this winter, officials in China’s Sichuan province reportedly compelled players in the region’s cryptomining sector to attend a meeting on December 27th. According to 8BTC, the meeting involved, “participation of 12…regulatory bodies including(the)… Read More

December 30, 2019 @ 8:23 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) recently announced it has formed an agreement with China Unicom to enable China Unicom’s payment platform Unicompay to offer handset financing services to its base of subscribers. According to Pintec, the digital handset financing solution allows customers to… Read More

December 29, 2019 @ 11:17 am By Omar Faridi  |  

CLPS Incorporation (Nasdaq: CLPS) noted on December 27 that Srustijeet Mishra, CLPS Singapore CEO, represented the firm as a guest speaker at the SYNC SEA 2019 Summit, which took place on December 6, 2019, in Singapore. During the event, Mishra reportedly discussed the firm’s current… Read More

December 27, 2019 @ 4:15 pm By Omar Faridi  |  

We recently caught up with Dr. Xiang Xie, Algorithm Scientist of PlatON, a globally accessible “trustless” computing network, which recently revealed that it co-organized and supported the second iteration of the “Crypto Innovation School” (CIS). CIS is reportedly accredited by the International Association for Cryptologic… Read More

December 27, 2019 @ 3:57 pm By Cali Haan  |  

Noting “signs of (a) resurgence of virtual currency trading activities in the country,” four finance regulators in China (the Beijing Local Financial Supervision Bureau, the People’s Bank of China Business Management Department, the Beijing Banking and Insurance Regulatory Bureau, and the Beijing Securities Regulatory Bureau)… Read More

December 26, 2019 @ 9:53 am By Omar Faridi  |  

China Rapid Finance Limited (NYSE: XRF), an established Chinese Fintech firm, revealed on December 24 that True North Financial, LLC has invested $8 million in a private transaction for unregistered shares of the Rapid Finance’s company stock. Shares in China Rapid Finance jumped on the… Read More

December 26, 2019 @ 9:18 am By Omar Faridi  |  

The United States is reportedly expected to lose its top rank as the largest cashless country and society in the world to nascent Asian markets by next year. Cashless transactions in the US are projected to increase by 4.7% to reach $184 billion by 2020,… Read More