Tagged: china

August 24, 2018 @ 12:40 pm By JD Alois  |  

Consumer finance platform Blackfish Technology has closed on a Series o A+ round financing at $50 million. In January, Blackfish closed on a $140 million funding round (950 million CNY). New investors in this most recent round are Lightspeed Venture Partners, Rakuten Ventures, China Growth Capital,… Read More

August 24, 2018 @ 12:19 pm By Cali Haan  |  

More news from China today regarding that country’s ban on citizens’ access to cryptocurrencies. According to The South China Morning Post, China will now block access to an additional 120 foreign cryptocurrency exchanges. Bitfinex, Binance, Huobi and OKEx are already blocked in China. When China announced… Read More

August 23, 2018 @ 11:42 am By Cali Haan  |  

A total ban on ICOs, cryptocurrencies and related exchanges enacted in China last September has hit the ground twice in the past two weeks, The South China Morning Post reports. Chinese government censors shut down at least 8 crypto-focused media accounts on Chinese social media site… Read More

August 21, 2018 @ 12:28 am By Cali Haan  |  

A substantial sting operation in northeastern China has netted 3 suspects accused of robbing 100 million yuan (about $15 million USD) in crypto from an individual’s computer. According to the Xinhua News Agency, on March 30th, 2018, a complainant contacted the X’ian police station alleging… Read More

August 18, 2018 @ 10:41 am By Xu Gao  |  

Ant Fortune Announces the Launch of One-Stop Pension Service with First Batch of 14 Pension Funds On August 14, Ant Fortune announced that it will launch a series of pension products and services based on open + AI technology. In the future, users could get… Read More

August 17, 2018 @ 1:45 pm By Samantha Hurst  |  

China Rapid Finance Limited (NYSE: XRF), one of China’s largest consumer lending marketplaces, announced earlier this week the launch of its new share repurchase program, which allows the lender to authorized the repurchase of its ordinary shares in the form of American depositary shares with an aggregate… Read More

August 14, 2018 @ 11:26 am By Samantha Hurst  |  

Chinese peer-to-peer lending platform Hexindai (NASDAQ:HX) announced on Tuesday it has entered into definitive agreements to acquire a 20% equity stake in Musketeer Group Inc., an Indonesian online lending platform that offers consumption installment loans, for approximately $1.6 million, and simultaneously completed the acquisition.  As… Read More

August 14, 2018 @ 10:30 am By Samantha Hurst  |  

Chinese insurtech ZhongAn Online P & C Insurance Co., Ltd. recently announced its wholly-owned subsidiary ZhongAn Technology has launched its Software-as-a-Service (SaaS) platform, ZhongAn Technology Intelligent Open Platform for Insurers, with AXA Tianping, a foreign property and casualty insurance company. According to ZhongAn,  the new platform… Read More

August 11, 2018 @ 4:24 pm By Xu Gao  |  

China Issues its First Blockchain-based Electronic Invoice in Shenzhen This week, a restaurant in Shenzhen issued a blockchain-based electronic invoice, making it the first case in China. This invoice innovation is led by Shenzhen Municipal Taxation Bureau, technically supported by Tencent, and approved by the… Read More

August 11, 2018 @ 11:16 am By JD Alois  |  

Ning Tang, founder and CEO of CreditEase – a huge Chinese Fintech that started as just a peer to peer lending platform, recently spoke to Bloomberg in Asia. CreditEase is also the majority shareholder of US listed online lender Yirendai (NYSE:YRD) Tang provided an interesting… Read More

August 6, 2018 @ 12:13 pm By Cali Haan  |  

Bitmain, the world’s largest manufacturer of crypto mining equipment and its biggest producer of bitcoins has announced the launch of a $500-million data centre in Rockdale, Texas. The company says it will deploy the sum over 7 years and will create 400 local jobs in the… Read More

August 2, 2018 @ 3:00 pm By Samantha Hurst  |  

Orig3n, Inc., a Boston-based biotech company and Chinese insurtech ZhongAn Online P&C Insurance Co., Ltd. (6060.HK), announced earlier this week they have formed a partnership to bring health tech solutions to Chinese consumers. According to Orign3n, ZhongAn will now supplement its insurance offerings with the… Read More

July 30, 2018 @ 1:09 pm By JD Alois  |  

Bitmain, a China based hardware and tech firm that produces some of the most popular mining servers in the cryptocurrency world, is said to be planning an initial public offering (IPO).  According to a report in Fortune, Bitmain is prepping to issue shares at a… Read More

July 30, 2018 @ 9:36 am By JD Alois  |  

A subsidiary of Fintech Creditease, Good Hope Investment Service, is providing “support and sponsored legal fees” to Chinese investors caught up in the EB-5 backlog. CreditEase started as a peer to peer lender but has since migrated into a plethora of Fintech services. EB-5 is… Read More

July 28, 2018 @ 12:00 pm By Xu Gao  |  

China and South Korea’s Financial Regulatory Agencies Reach Cooperation on Cryptocurrencies and Other Issues According to Chosun’s report last week, Yoo Kwang-yeol, the first senior vice president of the Korea Financial Supervision Service (FSS), recently met with the vice chairman of the China Banking &… Read More

July 22, 2018 @ 5:03 pm By Alexander Dunaev  |  

With tech titans the most valuable companies on the planet, the notion of self-regulation is no longer appropriate or fit for purpose. Is now the time for governments to step in to protect consumers and ensure a more competitive environment? The role of the technology… Read More

July 21, 2018 @ 1:35 pm By Xu Gao  |  

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

July 19, 2018 @ 8:19 pm By Cali Haan  |  

Torrential rains in the mountainous Chinese province of Sichuan during late June caused loss of life, landslides, crop damage, the forced relocation of 9000 people, and at least 193 million yuan ($30 million) in economic losses. Global technicians also noticed a 30% concurrent drop in… Read More

July 18, 2018 @ 11:20 am By Cali Haan  |  

Cryptocurrency consortium Bitmain, the world’s most valuable crypto firm, has embarked on yet another expansion, this time in Isreal, where it plans to triple the size of the workforce at its Ra’anana development centre. Bitmain told Israel business news site Globes that it is adding… Read More

July 18, 2018 @ 10:09 am By Cali Haan  |  

Following recent reports that it has established capacious bitcoin mining farms in Washington State and Quebec, the Beijing-based Bitcoin mining giant Bitmain is now renting offices in a Silicon Valley office tower called Riverpark Towers, CCN reports. Bitmain will occupy the last available vacancy in… Read More