China
ByteDance’s Fintech Ambitions in Tatters Amid China Clampdown on Bigtechs
TikTok’s owner ByteDance said on September 01, 2021 that it plans to scale back its fintech business and sell its securities brokerage operations amid regulatory pressure on fintech companies. The firm did not name the business unit it intends to
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China Enters a New Age of Fintech
After a period of rapid growth and innovation, the Chinese Internet sector is entering a new phase of development on the back of new stringent regulations, changing demographics and geopolitical tensions, according to the South China Morning Post’s annual China
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ADDX Secures US$200 Million Allocation From China’s Offshore Investment Scheme
ADDX, a Singaporean digital securities exchange formerly known as iSTOX, expects to enlarge its business in China after with a US$200-million agreement tied to a government-granted quota for Chinese offshore investments. The Qualified Domestic Limited Partnership scheme (QDLP) allows domestic
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Stripe Deepens Partnership With UnionPay to Tap Into China’s Consumer Market
Payment infrastructure provider Stripe has deepened its partnership with China’s UnionPay International to widen its access to the booming global Chinese consumer market. Stripe’s partnership with UnionPay International complements its existing Alipay and WeChat Pay integrations. Through a single integration,
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Despite Crackdowns, China Remains One of the World’s Top Crypto Market
Despite crackdowns on cryptocurrency trading and mining, China remains one of the most active cryptocurrency markets in the world, according to a new report by blockchain data platform Chainalysis. Between January and June 2021, cryptocurrency addresses believed to be controlled
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BBVA Signs Deal To Join Ant Group’s Blockchain-Based Trading Platform Trusple
BBVA has signed an agreement to integrate its cross-border payment and financing services on Trusple, a blockchain-based trading platform powered by Alibaba’s affiliate Ant Group, for greater transparency and security. Trusple aims to accelerate the digital transformation and facilitate the
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China’s CBDC Pilot Surpasses US$ 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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