China

China’s CBDC Pilot Surpasses US$ 5 Billion in Total Transaction Value

Since launching pilots for its central bank digital currency (CBDC) back in late 2019, China has seen 70.75 million transactions being conducted using the so-called e-CNY scheme with value totaling RMB 34.5 billion, or US$5.3 billion, new data from the

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WeBank Ties up With Singaporean University to Nurture Blockchain Innovation

WeBank, a digital-only bank in China, announced its summer enrichment programme on FISCO BCOS Blockchain Experience at the Singapore Management University (SMU). FISCO BCOS is a secure, reliable, easy-to-use, and high-performance financial-grade blockchain platform, which was launched by FISCO open-source

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Payoneer Ties up With eBay for E-Commerce Deal in China

Payoneer, the global payment and commerce-enabling platform, announced that it is collaborating with eBay to manage payouts for sellers in select countries including China on the latter’s core marketplace. eBay has teamed up with Payoneer to modernise its marketplace, remove

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Ant Group’s Digital Bank Doubles Down on Financial Inclusion in Rural China

MYbank, an online private commercial bank in China and an associate of Ant Group with a focus on serving rural areas and small and micro enterprises (SMEs), announced that it plans to more than double the number of rural counties

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From Insurance Firm to Tech Ecosystem: Ping An’s Rise to Becoming a Tech Giant

China’s Ping An started out as a property and casualty insurance company but rapidly grew into becoming what we know today as one of the world’s biggest tech giants. A new case study published by the International Institute of Management

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Facebook Antitrust Case is “Bad Economic Policy” at a Time When Chinese Fintech Dominates the World

The US Federal Trade Commission (FTC) and 47 states are suing Facebook, accusing the social media giant of breaking antitrust law by acquiring companies that presented competitive threats and abusing its dominance in the digital landscape. But according to Peter

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KPMG Releases Annual Selection of China’s Top Fintech Companies

Consultancy firm KPMG has released its annual selection of China’s top fintech companies. This year, the China Fintech 50 report was extended to feature 100 companies to showcase the sector’s growth and fast-changing landscape. The 2020 China Fintech 50, which

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ConsenSys Partners China’s State-Backed Blockchain Network

ConsenSys, a global blockchain software company, announced a partnership with the Blockchain-based Service Network (BSN), China’s national blockchain infrastructure, to make blockchain more accessible for enterprises and government organisations. As part of the partnership, ConsenSys Quorum, an open-source protocol layer that

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Ant Group Ordered to Revamp Its Business As Beijing Pursues Crackdown on Tech Giants

On December 26, 2020, four Chinese financial regulators, including the central bank, summoned Ant Group for regulatory talks, ordering the fintech giant to “rectify” its regulatory violations and “return to its payment origins.” Pan Gongsheng, a deputy governor at the

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China’s 10 Most Valuable Fintech Companies

China’s ten most valuable fintech companies are worth a combined of nearly US$500 billion, according to a new report by Hurun Research Institute. The research platform recently released its list of the country’s most valuable fintech companies ranked by market

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