Tagged: china

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

December 26, 2019 @ 8:05 am By Omar Faridi  |  

The Shenzhen Stock Exchange (SSE), the stock exchange of China’s leading technology hub Shenzhen city, has introduced an index that tracks the performance of the country’s top 50 blockchain startups. As noted in an announcement on December 24, the performance index will be based on… Read More

December 25, 2019 @ 11:30 pm By Xu Gao  |  

China to Enact Personal Information Protection Law and Data Security Law in 2020 On December 20th, the Legislative Affairs Commission of the NPC Standing Committee held its third press conference. According to the Legislative Law of the People’s Republic of China, the Standing Committee of… Read More

December 24, 2019 @ 11:50 am By Cali Haan  |  

Police in Tangshen, a city in China’s northeastern coastal province of Hebei, have seized three privately-installed high-power electricity transformers directing stolen electricity to 790 bitcoin mining machines running in an adjacent village. The machines have also been seized, CCTV reports. Police claim the electricity commandeered… Read More

December 24, 2019 @ 10:58 am By Omar Faridi  |  

Tencent, which operates the popular Chinese social media app WeChat, is reportedly planning to establish a digital currency research division in order to support the ongoing development and advancement of blockchain or distributed ledger technology (DLT) initiatives. Chinese media outlet iFeng revealed on December 23… Read More

December 24, 2019 @ 8:19 am By Omar Faridi  |  

Mu Changchun, deputy director at the People’s Bank of China’s (PBoC), recently stated that the digital yuan (under development) will be fundamentally different from Bitcoin (BTC), the flagship cryptocurrency. The electronic yuan will also be different from stablecoins, which are digital assets pegged one-to-one with… Read More

December 23, 2019 @ 10:45 am By Samantha Hurst  |  

FinVolution Group, a China-based fintech that connects underserved individual borrows with financial institutions, announced on Monday it received a license for Technology and Information-Based Financial Lending Institution (peer-to-peer lending license) from the Financial Services Authority of Indonesia.  As previously reported, FinVolution claims to be a pioneer… Read More

December 22, 2019 @ 12:56 pm By Cali Haan  |  

For many reasons, China is regarded as one of the world’s make-or-break regions when it comes to the fate of “blockchain” technology and cryptocurrencies. Before Bitcoin trading was officially banned in China in late 2016, yuan-to-Bitcoin conversions (and vice versa) seemed to account for more… Read More

December 22, 2019 @ 12:23 pm By Omar Faridi  |  

Saxo Bank A/S and Geely Sweden Holdings AB, a subsidiary of Zhejiang Geely Holding Group Co. Ltd., revealed on December 18 that they have agreed to take part in a technology project to offer financial and regulatory technology (Regtech) products to financial institutions including major… Read More

December 20, 2019 @ 2:24 pm By Omar Faridi  |  

Qudian Inc. (NYSE: QD), an established technology platform that aims to improve the online consumer finance experience for Chinese consumers, recently revealed that Guosheng (Hong Kong) Investment Limited has agreed to a non-binding letter of intent to lock up the firm’s Class A ordinary shares,… Read More