Tagged: china

December 29, 2018 @ 12:00 pm By Xu Gao  |  

Another Fintech Incubation Center Officially Begins Operation in Guangdong Province On December 20th, the Fintech incubation center (hereinafter referred to as “incubation center”) of Guangdong Financial High-tech Zone was officially put into operation, which will provide office space, policy guidance, project financing supports for Fintech… Read More

December 27, 2018 @ 8:02 pm By Cali Haan  |  

An investigation by the Shanghai and Shenzhen stock exchanges of 23 of 80 listed companies publicly claiming to have incorporated blockchain tech has revealed that 13 of them, or about 57%,  “have not achieved..results (in) blockchain,” Sina reports. Half of the companies that failed to deliver… Read More

December 27, 2018 @ 4:51 pm By Cali Haan  |  

Bitmain, the world’s largest manufacturer of cryptocurrency mining hardware and largest operator of crypto mining pools, and Huobi, the world’s third-largest cryptocurrency exchange, have both confirmed rumours they will be laying off employees, South China Morning Post (SCMP) reports. The value of global crypto markets has declined by… Read More

December 26, 2018 @ 8:43 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Tuesday it has formed a partnership with Fullerton Credit (FC) to expand digital lending solutions to the Chinese market.  According to PINTEC, FC provides operating and consumer loans for individuals, micro businesses and SMEs, with total cumulative loans disbursed exceeding more… Read More

December 24, 2018 @ 7:01 am By Cali Haan  |  

Twenty-eight Chinese blockchain and Fintech companies have found a home at a newly-inaugurated blockchain incubation centre located in the Guangdong Financial High-tech Zone, CSDN reports. The 120 000 square meter ‘”Blockchain + Financial Technology Professional Incubation Centre” will be located in former ‘Foshan Folk Finance… Read More

December 23, 2018 @ 9:28 pm By Cali Haan  |  

Researchers at the Mosaic “cryptoasset data and research platform” have assembled a report showing that Asia is still the centre of the universe when it comes to crypto-price action. The company begins by describing “key headline events” in China, Korea and Japan during the course of… Read More

December 22, 2018 @ 2:12 pm By Xu Gao  |  

Hong Kong Insurance Regulatory Authority Issues First Virtual Insurance License Under Fast Track On December 20th, Hong Kong Insurtech Bowtie announced that it has obtained the first virtual insurance company license issued by the Hong Kong Insurance Authority under Fast Track. Bowtie was founded by… Read More

December 16, 2018 @ 12:00 pm By Cali Haan  |  

The Chinese government is looking to create a cryptocurrency that will allow it to better monitor the financial conduct of citizens and institutions, Bloomberg reports. Software developers at the People’s Bank of China have registered 78 digital currency patents since 2016, and, as of August,… Read More

December 15, 2018 @ 9:41 am By Xu Gao  |  

HKEX Will Introduce Blockchain and AI to Increase Automation HKEX will announce its three-year strategic plan for 2019-2021 early next year. Charles Li, chief executive of HKEX, said that there were still many business procedures in HKEX relying on manpower. In the future, HKEX will… Read More

December 13, 2018 @ 7:33 am By Samantha Hurst  |  

Chinese cryptocurrency exchange CoinAll announced on Thursday the official listing of PumaPay (PMA), which started trading on the platform on December 10th. This news comes just days after PumaPay announced it is offering crypto-to-crypto conversion in the PumaPay Cryptocurrency Wallet. As previously reported, PumaPay provides an… Read More

December 9, 2018 @ 4:51 pm By Cali Haan  |  

At least one Chinese cryptocurrency miner is taking a creative financial approach to surviving “Crypto Winter” -the bear market currently punishing crypto prices to some of their lowest levels in over a year, 8BTC reports. Jin Xin, for example, “an ordinary Chinese miner,” is taking a… Read More

December 9, 2018 @ 11:40 am By Cali Haan  |  

An “Internet court” in Hangzhou in Eastern China will soon allow evidence logged on blockchains (or distributed ledgers) to be admitted in cases of alleged infringement on a writer’s copyright, China.org reports. The Hangzhou court is one of three Internet courts recently established in China to… Read More

December 8, 2018 @ 5:00 pm By Xu Gao  |  

Financial Authorities Ban STOs in Beijing On December 1st, at the 2018 Global Wealth Management Forum, Huo Xuewen, director of the Beijing Municipal Bureau of Financial Work, warned that STO activities in Beijing would be seen as illegal. He said: “A new concept called STO… Read More

December 7, 2018 @ 7:47 am By Samantha Hurst  |  

Cornell University and Tsinghua University (清华大学) announced this week they have joined forces to host the International Workshop on Blockchain, which is set to take place in Xi’an, China.  According to the learning institutions, the event was made possible by a $150,000 grant from not-for-profit platform Social… Read More

December 3, 2018 @ 9:17 pm By Cali Haan  |  

At the end of a long speech about cultivating an honest and effective wealth management industry in China’s political and financial capital, Beijing, Huo Xuewen, nixed the idea ICOs (initial coin offerings) will be allowed to quickly morph into security tokens (STOs) anytime soon. According… Read More

December 1, 2018 @ 9:00 am By Xu Gao  |  

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

November 30, 2018 @ 9:36 am By Samantha Hurst  |  

Huawei Cloud, a global provider of information and communications technology (ICT) infrastructure and smart devices, announced on Thursday it officially launched its Blockchain Service (BCS) for global use earlier this month, after launching the service for commercial use in China earlier this fall.  The company reported that the… Read More

November 28, 2018 @ 8:43 pm By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF) is out with their 3rd Asia Pacific Region Alternative Finance Industry Report. According to CCAF, the alternative finance sector in the Asia Pacific (APAC) region increased to $358 billion in 2017 but overall growth has slowed. As in previous… Read More

November 24, 2018 @ 9:47 am By Cali Haan  |  

A class action suit against the world’s largest cryptocurrency mining equipment maker and cryptomining conglomerate, Bitmain, has been filed in Northern California. The suit will test rumours circulating in crypto circles for some time that allege Bitmain used customers’ newly-purchased machines to mine crypto at… Read More

November 24, 2018 @ 9:32 am By Xu Gao  |  

Ping An Invests $47 million in Berlin-based Fintech Startup Finleap On November 20th, Ping An, one of China’s largest financial groups, announced its first entry into the European market. The Ping An Insurance Group’s Global Voyager Investment Fund led a €41.5 million ($47 million) investment… Read More