Tagged: mainland china

November 11, 2023 @ 6:22 pm By Omar Faridi  |  

Maybank announced the expansion of its cross-border QR Pay service to China, one of the first in the market for a Malaysian bank, amplifying Maybank’s existing cross-border payment capabilities and enhancing the ease and efficiency of financial transactions. This initiative aims to benefit over 8… Read More

October 27, 2023 @ 6:02 pm By Omar Faridi  |  

Thunes, the global B2B payment infrastructure platform, and China Construction Bank (CCB), a commercial bank in China, have announced partnership to collaborate on cross-border payments. With the new relationship, Thunes will support the bank “to enable international payment acceptance for Chinese small to medium-sized businesses… Read More

October 4, 2023 @ 2:17 pm By Omar Faridi  |  

Six months into 2023, private real estate was still “weathering ongoing macroeconomic headwinds,” according to an update shared by Pitchbook. In the US, the federal funds rate “has steadily increased since March 2022, hovering within a range of 5.0% and 5.25% as of the end… Read More

September 28, 2023 @ 10:47 pm By Omar Faridi  |  

Currencycloud, the Fintech focused on simplifying business in a multi-currency world, has more than tripled its Chinese customer growth rate across Asia-Pacific since establishing its APAC headquarters in 2021, “with its Chinese client base expanding from four to 12 organisations across the region.” As one… Read More

September 24, 2023 @ 9:22 am By Omar Faridi  |  

The latest edition of Accenture’s (NYSE: ACN) China Digital Transformation Index shows that just 2% of Chinese companies are “undertaking the holistic, continuous digital transformation steps needed to drive long term, sustainable growth.” Samantha Zhu, chairperson of Accenture Greater China, said: “A convergence of external… Read More

September 7, 2023 @ 11:37 am By Omar Faridi  |  

China’s cryptocurrency crackdown continues as Weibo has reportedly banned around 80 crypto influencers. Weibo’s management stated that these decisions were made in order to comply with domestic regulatory requirements, which aim to discourage speculation, trading, and promotion of digital currencies. The Beijing-headquartered company said that… Read More

August 29, 2023 @ 9:30 pm By Omar Faridi  |  

China is set to retain its dominant position in the global e-Commerce landscape, according to an update shared by GlobalData. Bolstered by a solid 9.9% growth, the Chinese e-Commerce market is “anticipated to surge to CNY 15.2 trillion ($2.2 trillion) in 2023, driven by the… Read More

August 13, 2023 @ 5:46 pm By Omar Faridi  |  

A recent report has looked into just how quickly Binance revenues may be declining. Available trading data provides key insights regarding the status of Binance’s crypto-focused operations and its BNB digital token. As covered earlier this month, the WSJ had released an extensive report which… Read More

August 13, 2023 @ 5:24 am By Omar Faridi  |  

UnionPay International (UPI) and Payments Network Malaysia Sdn Bhd, or PayNet, Malaysia’s national payments network jointly signed an agreement in Shanghai in order to support “the cross-border QR code linkage and enable the full acceptance of the UnionPay App (Chinese-mainland, Hong Kong and Macao versions)… Read More

August 2, 2023 @ 10:30 am By Omar Faridi  |  

Binance, which claims to be the world’s largest virtual currency exchange, was expected to leave China behind when the nation officially made cryptocurrency trading illegal back in 2021. Two years later, clients have reported traded $90 billion worth of crypto-focused assets in China during a… Read More

July 14, 2023 @ 9:21 am By Omar Faridi  |  

On May 21, 2023, Multichain CEO Zhaojun was taken away by the Chinese police from his home and has been out of contact with the global Multichain team ever since. As noted via social media, the team claims they contacted the MPC node operators and… Read More

July 8, 2023 @ 7:24 pm By Omar Faridi  |  

China’s regulatory authorities revealed on Friday (July 7, 2023) a 7.12 billion yuan (approximately $984 million) fine for Ant Group, a decision that effectively ends a lengthy regulatory revamp of the Fintech firm while marking an important step to concluding a massive crackdown on the… Read More

July 6, 2023 @ 10:07 pm By Omar Faridi  |  

DBS (SGX:D05) announced it is one of the first foreign banks in China to launch an e-CNY merchant collection solution and complete an e-CNY transaction for a client. The solution empowers corporate clients of DBS China “to collect payments from their customers in e-CNY, China’s… Read More

July 6, 2023 @ 10:02 pm By Omar Faridi  |  

Researchers are “cautiously optimistic” about where generative artificial intelligence (GenAI) will lead humanity, but they say that we “must develop more guardrails.” This is according to Pascale Fung, Chair Professor, Department of Electronic and Computer Engineering, Hong Kong SAR, China. She was speaking at the… Read More

June 18, 2023 @ 3:34 pm By Omar Faridi  |  

Thunes, the global B2B payment infrastructure platform, today announced the inauguration of its new office in Beijing, China. This strategic move signifies Thunes’ commitment “to empowering Chinese businesses and consumers by providing faster and more affordable transactions with key international markets.” The opening ceremony of… Read More

March 8, 2023 @ 10:02 am By Omar Faridi  |  

Global payments and financial platform Airwallex has secured a payment business license in China, following the successful acquisition of “a 100% stake in Guangzhou Shang Wu Tong Network Technology Co., Ltd., an information and online payment services company. Shang Wu Tong Network Technology has a… Read More

January 31, 2023 @ 10:27 am By Omar Faridi  |  

As this year’s week-long Chinese New Year holiday comes to an end, Ant Group would like to share some observations on Chinese consumers’ spring festival spending and trends. These findings “provide a snapshot of recovering consumption in China’s domestic market and outbound tourism market.” Main… Read More

January 9, 2023 @ 8:33 am By Omar Faridi  |  

Billionaire entrepreneur Jack Ma will reportedly end an acting-in-concert pact with three senior executives who had given Ma a 53.46% share of the voting power in Fintech firm Ant Group. Following the restructuring phase, the major shareholders of Ant Group will independently exercise their respective… Read More

January 9, 2023 @ 8:31 am By Omar Faridi  |  

Alipay+, a provider of global cross-border digital payment and marketing solutions, is striving to provide cash-free and mobile-friendly travel experiences for Asian tourists in the Chinese mainland “as it seeks to partner with more merchants and enable greater QR code connectivity.” Starting from January 8,… Read More

July 9, 2022 @ 1:37 pm By Omar Faridi  |  

As part of a self-discipline initiative, China’s leading technology companies have reportedly decided to enforce “real-name” authentication for NFT (or non-fungible token) buyers and also want to help users avoid secondary marketplaces The agreement (not legally binding at the moment) serves as confirmation from the… Read More