Tagged: tencent

NFTs: Ant Group, Tencent Now Part of Efforts to Prohibit Crypto Transactions

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

Indonesia’s Consumer Payments Fintech Flip Secures Second Close of Series B, Bringing Total to $100M+

Flip, Indonesia’s consumer payments platform, announced a second close of a Series B funding round “led by Tencent, with participation from Block, Inc. (formerly Square, Inc.) and existing investor Insight Partners.” A number of experienced operators “participated meaningfully in this extension round, including Guillaume Pousaz,… Read More

China: WeiyangX Fintech Review

The Supreme Court Adds Use of Cryptocurrency Trading, P2P Lending as illegal fundraising On February 24th, the Supreme People’s Court issued “Decision Concerning Several Legal Issues in Relation to the Specific Application of the Supreme People’s Court Criminal Cases on Illegal Fund-raising,” which revised and… Read More

Wise Teams Up with Tencent Financial Technology to Streamline Global Money Transfers to China via Weixin

Wise clients across the globe will now have the option to conduct quick, seamless and cost-effective global fund transfers to Weixin users residing in China from 11 different currencies, including SGD, USD and GBP. Wise (LON:WISE), the international tech firm focused on creating the best… Read More

Gaming and Media Industry are Leading the Metaverse Movement: Report

The Metaverse, a relatively new concept and a term used to describe a shared, immersive digital ecosystem supported by the use of VR and augmented reality (AR) technologies, has quickly become one of the fastest-growing trends in the digital economy. It’s notably a nascent industry… Read More

China: WeiyangX Fintech Review

Tencent Releases Metaverse-Rate Scoring System On January 12th, Tencent News and the School of Journalism, Fudan University jointly released the “2021-2022 Metaverse Annual Report”. For the first time, the report proposed the concept of “Metaverse-Rate” which will become the scoring standard for the development of… Read More

China: WeiyangX Fintech Review

State Administration for Market Regulation Establishes Competition Policy & Big Data Center On December 16th, the State Administration for Market Regulation held the founding meeting of its competition policy & big data center. As approved, the main responsibilities of the center are policy research on… Read More

Tencent Is Exploring Big Data, AI, Blockchain to Offer Green Computing Solutions

Tencent Holdings Ltd., a major Chinese multinational technology conglomerate holding company founded in 1998, says it’s getting ready for a carbon-neutral future. Tencent, whose subsidiaries globally market Internet-related services and products, including in entertainment, Fintech, artificial intelligence, and other technology, confirmed that earlier this month,… Read More

China: WeiyangX Fintech Review

Beijing Looks to Set Up Digital Asset Exchange in the Sub-Center Area On November 26th, the State Council released a circular on supporting Beijing’s sub-center in pursuing high-quality development. To achieve the goals of a green city, sponge city, and smart city, related authorities will… Read More

Ant Group backed Personal Credit-Scoring Joint Venture Application Accepted by People’s Bank of China

China’s reserve bank confirmed on Friday (November 26, 2021) that it had accepted the application to launch a personal credit-scoring joint venture that is reportedly being backed by Alibaba‘s (NYSE: BABA) Fintech division Ant Group and various other companies. Qiantang Credit Rating Co Ltd will… Read More

Tencent, Asian Institute of Digital Finance to Support Fintech Innovation in Asian Markets

Tencent revealed at the Singapore Fintech Festival 2021 that it will be teaming up with the Asian Institute of Digital Finance (AIDF), which is an institute within the National University of Singapore (NUS) that has been established by the Monetary Authority of Singapore (MAS), the… Read More

China: WeiyangX Fintech Review

Tencent: No Plan to Provide Palm Payment Service  This week, Tencent was reported to provide a new palm payment service, which would be the first of such functions in China and would be linked to the user’s WeChat account. However, Tencent has denied this news… Read More

Argentina based Fintech Ualá Secures $350M via Series D at $2.45B Valuation

Fintech firm Ualá has secured $350 million in capital at a $2.45 billion valuation. The company’s latest funding round is reportedly the largest private investment round ever for an Argentina-based business. Ualá’s Series D investment round has been co-led by Chinese tech giant Tencent and… Read More

China: WeiyangX Fintech Review

Shanghai Taxis Began to Accept Digital RMB Payments Shanghai Qiangsheng Taxi Company has equipped its 6000 clean energy taxis with digital RMB payment capability. Customers could hail these taxis on 62580 APP. When they arrive at their destination, they could scan the QR code on… Read More

Digital Banking: Philippines based Fintech Voyager Innovations Secures $176M from PLDT, Tencent, Others

Philippines-based digital and financial services company Voyager Innovations has secured $167 million in capital for its expansion program, which includes a venture into virtual banking, its listed and largest shareholder confirmed on Monday (June 28, 2021). Shareholders PLDT Inc, private equity firm KKR & Co… Read More

CBDCs: Chinese Banks Introduce Central Bank Digital Currency Hardware Prototypes for Multiple Applications

Chinese banking institutions have introduced central bank digital currency (CBDC) hardware prototypes for several different use cases. The People’s Bank of China (PBoC), the nation’s central bank, and the Industrial and Commercial Bank of China (ICBC) have introduced prototype hardware devices that aim to offer support… Read More

China’s Fintech Crackdown Continues as Authorities Call ByteDance, Tencent, Baidu, JD.com, Others into Meetings

Authorities in China have reportedly told 13 of the nation’s largest tech firms to “rectify prominent problems” on their platforms, according to a recent report. These developments appear to be a sign that China continues to increase its regulatory scrutiny and pressure of its Fintech… Read More

China: WeiyangX Fintech Review

China Imposes Further Restrictions on Online Consumer Loans for College Students Over the past few years, some internet finance platforms have targeted college campuses and made inductive marketing through cooperation with technology companies. Such practices led some students into excessive consumption and even debt traps…. Read More

Finland’s Payment Services Provider Enfuce Secures €7M via Series B from Tencent, Maki.vc

Finland’s payment services provider Enfuce has secured €7 million in capital through a Series-B funding round. Enfuce has received €5 million in funding from Tencent. Another €2 million that was part of the investment round came from previous investor Maki. Prior investment has been supported… Read More

China: WeiyangX Fintech Review

E-signature Service Provider Fadada Completes 900-million -yuan D round financing led by Tencent  On March 11th, Chinese leading e-signature service provider Fadada declared the completion of a 900-million-yuan D round of financing. The investment was led by Tencent, followed by ZWC Partners and Centurium Capital…. Read More

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